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The use of helped new accounting and banking practices during the Renaissance?
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Where did accounting come from?
Accounting dates back at least to the Babylonian Empire, around 4,500 BC. Double entry accounting was first utilized in Venice during the period of the Italian Renaissance.
Difference between auditing and accounting?
Accounting is the process of recording, classifying and summarizing of the business events for the purpose of providing financial information to investors for decision making. Auditing is determining whether recorded information properly to the business events that occurred during the accounting period. Its main duties are observe, valuate and recommend the financial statement and the firm.
What is accounting period conversation?
An accounting period refers to the interval between two points in time during which the financial activity of a business is measured.
What is the use of passbook in a bank?
The bank passbook maintains a true and composite picture of business transacted by an individual during a particular period. The passbook has to be updated periodically for latest accounting information. Few banks issue bank statements in lieu of passbook. With the inception of net banking, the importance of passbook has been abated to a great extent, where an account holder can visit his account and download the detailed accounting information sitting at home.
Which of the following would an auditor scrutinize during a quality audit?
working practices
Why Medici family help the renaissance?
They were a famous banking family during the rennisance period
What was the importance of Florence?
Florence, Italy was an important commercial, banking and artistic center during the Renaissance.
Where did accounting come from?
Accounting dates back at least to the Babylonian Empire, around 4,500 BC. Double entry accounting was first utilized in Venice during the period of the Italian Renaissance.
Which was not a change in American business practices during the late twentieth and early twenty-first centuries?
Offshoring Production. Offshoring is for accounting practices.
How did the development of a money-based economy affect Florence?
It led to Florence becoming a banking center during the Renaissance
What year did the first bank open?
Modern banking traces its origins back to Renaissance-era Florence, Italy during the 1500s.
What was the difference in economic conditions between the middle ages and the Renaissance?
During the Renaissance there was banking, more trading especially in Florence Italy, and the social status was still there but there were changes. Those were the main differences. Hope that helps.
What family organized a banking business in Florence Italy and became one the richest and most powerful families in Europe during the Renaissance?
Medici
Do you think the italian city-states would have been famous centers of wealth and art during the Renaissance without banking?
It is unlikely that the Italian city-states would have been as successful and influential during the Renaissance without the development of banking. Banking allowed for the accumulation and investment of wealth, which in turn facilitated the patronage of art and the financing of trade. Without the ability to securely store and transfer funds, the powerful families and institutions of the city-states would not have been able to finance the art, architecture, and cultural achievements that made them famous. Additionally, banking facilitated international trade, which allowed for the exchange of ideas, goods, and technologies that contributed to the flourishing of the Renaissance.
People Shakespeare Knew During the Renaissance?
Shakespeare lived during the Renaissance, so everyone he knew, he knew during the renaissance.
What language during the renaissance?
The language during the renaissance was usually Latin.
What group ran the Italy during the time of the Renaissance?
During the Renaissance, Italy consisted of a large number of small states, usually city state, with all sorts of governments, so by the Church, some by nobility, and some run by republican governments. Wealthy merchant and banking families such as the Medicis were particularly powerful.
