Why did I grow to be an Accountant ? Very good query. Why did I? I imply a lot of individuals believe we Accountants are boring, constantly crunching numbers and speaking accounting jargons that no one else look to realize. Just this morning, I was speaking to a client of mine (who is not an accountant) and when I described the words retained earnings”, she just stared at me like I’m speaking another language or I am from another planet!
This leads to the question of how theory is developed? Science is widely considered to have a strong information primarily based on information. The scientific formulation of theory is derived through the method of inductive reasoning. This method is primarily based on observation and generalizing upon a single observation to derive a law or theory. Once the law or theory is established it can be utilised to clarify and predict by means of the process of deductive reasoning. Accounting theories such as stock valuation and depreciation have been derived on the basis of inductive reasoning.
The Italian Renaissance was one particular of the most inventive periods of all time, and my dream someday is to be in a position to check out Italy and see in person several of the amazing operates of art produced in the course of that period. For me Leonardo Davinci is the epitome of this outstanding time and I really like to study his sketches. I have only had the chance to see his horse sketches in particular person, it was almost a religious experience to see them. With the exception of Michangelo, I have never ever observed drawings as incredible. So this is why I decide on Leonardo’s sketches as #23 in my list of issues to be satisfied about.
Summa was published in Venice in 1494, and benefitted significantly from the comparatively recent invention of the printing press. As the 1st full published description of double entry bookkeeping its influence was far reaching, and it was translated and adapted in a number of languages across Europe. An indicator of its influence and completeness is the lack of further notable developments in accounting for the next two hundred years.