EVOLUTION AND DEVELOPMENT OF ACCOUNTING THEORY: Historical Context

Man, from the moment there arose the need to take account of its assets, used rudimentary mechanisms such as clay chips and then clay, for, further, be used bills. At first it was the man trying to solve practical problems, the control of its assets. Over time, this simplicity spent for the development of science: the medieval age, there has been some improvement, because of trade; in the modern age, the emergence of schools of accounting thinking, all from Europe. The so-called European School reached its moment of glory, especially with the Italian; however, by having a rather theoretical nature, it caused there to rise further on the American School, based in practice and created by professionals.