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.