The History of Accounting By troopbyrne 2500 BCE Ancient Civilizations Accounting Proof found that ancient civilizations such as Egyptians, Greeks and Romans, all had an accounting system to keep a record of taxes. 1000 BCE Alphabet Created The Phoenicians created an alphabet with accounting so that they were not cheated through trades with ancient Egyptians. 500 BCE Abacus was Created Egyptians carried on with accounting records and even invented the first bead and wire abacus. 423 BCE The Auditing Profession was Created The auditing profession was created to double check storehouses as to what came in and out the door. 1200 The First Requirement for Businesses to Keep Accounting Records The first requirement for businesses to keep accounting records spread across many of the Italian Republics in the 13th century. 1494 Luca Pacioli Created Accounting Terms, Debit and Credit Luca Pacioli, the father of accounting, writes his famous paper “Everything about Arithmetic, Geometry, and Proportion.” 1900 Double Entry and Certified Public Accountant is Created During the Industrial Revolution, double entry accounting methods were developed, as well as the title of Certified Public Accountant. 1940 GAAP Accounting Standards was Created GAAP was developed and the Financial Accounting Standards Board (FASB) in the year 1939. 1995 Automated Accounting was Created Several automated accounting systems, like Peachtree and Quickbooks, are created.