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Articles about accounting

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Business & Money
by Torquay
7 years ago
Major Influences on Accounting Development in 19th Century England

The major influence on the development of accounting in 19th century England was the industrial revolution, bringing about a complete change to English society. It introduced a new form of conducting business through such reforms as separation of ownership, pooling of capital and the centralisation of labour. New legislation was introdued to cope with these changes, in particular dealing with company formations and reporting, and bankruptcy and insolvency. Because of the increasing demands by managers for better information, cost accounting was developed to provide better information on labour productivity, income determination and inventory valuation.

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