Management Accounting: Its Origin

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In India a great multifaceted man Chanakya wrote a manuscript to manage the economic activities in a Sovereign State, named by "Arthashasthra" during the period of the the Mauryan dynasty. It is a trusted document and had impacted Indian Accounting System. However, accounting as we know it today began in the fourteenth century in the Italian city-states of Florence, Genoa and Venice thanks to the growth of maritime trade and banking institutions. The first bank with customer facilities opened in Venice in 1149. The Lombards were Italian merchants who were established as moneylenders in England at the end of the twelfth century. It led the industrial revolution in Europe.  The first documentation on accounting was presented by a monk, a mathematician Luca Pacioli, in 1494. Today we are studying about Managment Accounting which has evolved through the disciplines of Economics and Accounting. I hope it would be beneficical to the students of Finance.Start with the origin of Managment Accounting.  
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