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History of Accounting



As Muslim we have proof of Accounting from the Holy Quran. In The Quran Allah Said that  write and record debt and Business Transaction and also nominate persons as evidence of that Translations for future security.  Aian 282 and 283 of second Surah of Quran Al-Baqarah
In Modern Accounting we apply this rules of Quran. Every Transaction we record along with documentary evidence.

2nd caliph Umer bin Al-Kattab rules 13-23 hidri (634-644 A.D). The introduction and organization of Zakat in 624 A.D encouraged accounting for the purpose of Zakat calculation and payments.

The Father of Accounting Luca Pacioli (1445-1520) Tuscany Italy
Pacioli in 1494, for the first time described the system of double entry Book-Keeping.

He also described the system of Debit and Credit.
The word Debit is derived from Latin word Debere which means to owe. In Modern Accounting abbreviation Dr is used for Debit. on the other side word Credit is also derived from Latin word Credere which means to entrust. in Modern Accounting abbreviation Cr is used for credit.   
Debit is the right side of Account and Credit is the Left side of Account.


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