Date of Award

6-1926

Degree Type

Bachelors Essay

Degree Name

Bachelor of Science (BS)

Department

Business Administration

First Advisor

J.F. Pyle

Abstract

While "'e can trace the beginning of accounting back to

the ancients, it was not until recent times that modern accounting as we know it was devised. Until the birth of the machinery age, transactions of buying and selling and exchange of money were adequately served by the simplest of systems. When big industries; employing numerous men began dispatching work, accounting became a complex problem. Not that alone but the rapid multiplications of such industries increased the problems. and it soon became apparent that accounting was the most difficult task that had as yet faced the accounting world. Costs of product were estimated by crude methods and inventories were priced at these costs. Inventory periods were dreaded because of the difficulties of pricing, closing down and making up of balance sheets and trading accounts. Balance sheets and profit and loss statements in the comprehensive and intelligent form of the present day were unknown. Audited and certified statements such as are now commonly referred to and required were likewise unknown; and it can almost be safe to say that statements really correct, were seldom obtained.

Comments

A Thesis submitted in partial fulfillment of the requirements for the Degree of Bachelor of Science in Business Administration, College of Business Administration, Marquette University, Milwaukee, Wisconsin

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