The History of Accounting

The history of accounting is really simple. There's been two accounting innovations in the history of humanity, right? Ten thousand years ago, stephen went to a market and bought five sheep. And so now we have our our debbit and our credit, and you put this down on your ledger. And so you have double entry accounting. That system, that accounting system, double entry accounting, that system was created in the fifteenth century. To day, 700 years later, every single bank, every single corporation, every single government, everything in the world runs on 700 year old, antiquated double entry counting.