Chapter – 1 | Introduction to bookkeeping and accountancy

Book-keeping is related with recording of business transactions. Business enterprise and other organizations deal in activities which involve exchange of money or money’s worth. All these activities are recorded for the purpose of taking important decisions as to whether the activities are feasible, profitable and are to be continued or not. Information about the business and other organizations is required not only by the proprietors and managers of business and other organisations but also to various other stakeholders such as the government, investors, customers, employees and researchers.

In India, during Chandragupta Maurya’s regime, Minister Kautilya wrote a book named ‘Arthashastra’, where in some references can be traced regarding the way of maintaining accounting records. Afterwards it was called as “Deshi Nama”.

In the earlier time of civilisation, accounting was done by agents who managed the properties of wealthy people. They prepared accounts periodically for the owners of property. The records of debit and credit were found in the 12th century itself.

Part 1

Part 2

Part 3

Part 4

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