What are the features of accounting? And what is the defination of accounting? How has accounting developed?

Question

How has accounting changed or developed since it was started is what i mean by developed. a brief history about accounting would also do.

Answer 1

Click on the 1st link for each of the following topics:
* The objectives of financial reporting.
* The qualitative characteristics of useful accounting information.
* The development of generally accepted accounting principles (for a brief history)
* Key assumptions of financial accounting and reporting.

According to the Committee on Terminology of American Institute of Certified Public Accountants (AICPA), “Accounting is the art of recording, classifying and
summarizing in a significant manner and in terms of money, transactions and events which are in part at least, of a financial character, and interpreting the results thereof”.