Journal

Volume 73, #1

      “Economic Sciences: theory and practice” is scientific, refereed, biannual journal. The Journal of “Economic Sciences: theory and practice” has been founded by Azerbaijan State University of Economics in 1994.              
The Journal has been received to registration in the centre of international ISSN (International Standard Series Number, ISSN-2220-8739). Also, it has been included by the Supreme attestation Commission under the President of Azerbaijan Republic to the list of scientific publications on economic sciences.


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THE HISTORY OF THE DEVELOPMENT OF THE GLOBAL ACCOUNTING SYSTEM AND INTERNATIONAL STANDARTS

Natalia Koval Ivanovna Economics and Analysis Department, Vinnytsia National Agrarian University,Vinnitsa, Ukraine


Abstract
The story of the origins of monetary systems and commerce help provide a historical account of the origins and progression of accountancy, as commerce and accounting have run parallel to each other since their respective beginnings. For this reason, the history of accounting is often seen as indistinguishable from the history of finance and business. Since the second half of the 20th century, however, the guidance issued by national accounting standards setting bodies has formed the primary basis for the practice and teaching of accounting. At present, the role of accounting theory and of national accounting standards setting bodies is beginning to diminish in the wake of the movement toward uniform international accounting standards.

Key worlds: International system of accounting, international accounting standards, history, evolution, monetary systems.

JEL classification: M41