ABSTRACT
HE foundations of bookkeeping are found w ith the arts of numeration and writing. I t has been shown
in a previous chapter that the stage of barter preceded that of commerce. T he practice of bartering goods did not give rise in early civilization to the necessity of record ing such transactions. As progress in economic life be came accelerated and the division of labor became more pronounced, it was but logical that the accountability of individuals should be recorded. Especially was it neces sary that records be made of transactions involving prop erty whether it be real or personal. I t remained, how ever, for posterity to properly devise a system to meet this need.
