In India, 23 centuries ago, Chandragupta Maurya's. Minister Kautilya wrote a book named 'Arthashastra', wherein some references can be traced regarding the way of maintaining accounting records.
In the earliest days of civilisation, accounting was done by Stewards who managed the properties of wealthy people. They rendered accounts periodically to the owners of property.
In 1494, Luca Pacioli an Italian developed double-entry book-keeping system which paved way to modem accounting approach later. Finally during 18^th and 19^th centuries, large scale operations by joint stock companies which paved way for development of comprehensive financial accounting information system.

The importance of Human resource accounting and social responsibility accounting in business are:
(I) Human Resource Accounting: It is concerned with identification, quantification and reporting of investments made in human resources of an enterprise. It helps in recruitment and selection of personnel in any organisation.
(ii) Social Responsibility Accounting: It is concerned in presentation of accounting information by business entities and other organisations from the point of view of the society by showing the social costs incurred such as environmental pollution by the enterprise and social benefits such as infrastructure development and employment opportunities created by them.

The various steps involved in accounting process are:
(i) Identifying the transactions and journaiising: The first step in the accounting process is identifying the financial transactions of a business. All the monetary transactions are recorded in the books of original entry called journals. Recording the transactions in the journal is called journalising. Entries are made journals.
(ii) Posting and balancing: Transferring the entries from the journal to the ledger is called posting. In ledger, entries are made in each account after classifying them under common heads. Finding out the difference between the total of the debit column and credit column of all the ledger accounts is called balancing.
(iii) Preparation of trial balance: The list of ledger balances namely trial balance is prepared as the next step. On the basis of ledger balances the financial statements are prepared.
(iv) Preparation of trading account: Next step is preparation of trading account for a particular accounting period. All the direct revenues and direct expenses are transferred to trading account. The balance in the trading account is the gross profit or gross loss.
(v) Preparation of profit and loss account: Profit and loss account is prepared next for a particular accounting period. All the indirect revenues. and indirect expenses along with gross profit or gross loss are transferred to profit and loss account. The balance in the profit and loss account is the net profit or net loss.
(vi) Preparation of balance sheet: A statement showing the balances of assets and liabilities namely balance sheet is prepared as the final step in the accounting process. It is prepared on a particular date, normally, on the last day of the accounting period.

Yes, Accounting information should be comparable because,
i) It helps to make inter-firm comparisons, i.e., to find out how a firm has performed as compared to the other firms.
ii) It helps to make inter-period comparisons, i.e., to find out how it has performed as compared to the previous years.

Earlier the role of Accounting was limited to recording of transactions. Now, it has shifted to providing information to managers and interested parties, to help them take appropriate decision. It is now regarded as an information system.

(i) Investors :
1. Persons who are interested in investing their surplus funds should know about the financial condition of a business unit while making their investment decisions.
2. They are more concerned about future earnings and risk bearing capacity of the organisation which will affect the return to the investors.
(ii) Government :
1. The scarce resources of the country are used by business enterprises.
2. Information about performance of business units in different industries helps the government in policy formulation for development of trade and industry, allocation of scarce resources, grant of subsidy, etc.
3. Government also administers prices of certain commodities.

(i) Accounting is the systematic process of identifying, measuring, recording, classifying, summarising, interpreting and communicating financial information.
(ii) Accounting gives information on :
1. the resources available
2. how the available resources have been employed and
3. the results achieved by their use.
(iii) The profit earned or loss incurred during the accounting period, value and nature of assets, liabilities, and capital can be ascertained from the information recorded in accounts.

An accountant designs the accounting procedures for an enterprise. He plays several roles in an organisation as follows:
(i) Record keeper :
1. The accountant maintains a systematic record of financial transactions.
2. He also prepares the financial statements and other financial reports.
(ii) Provider of information to the management :
The accountant assists the management by providing financial information required for decision making and for exercising control.
(iii) Protector of business assets :
The accountant maintains records of assets owned by the business which enables the management to protect and exercise control over these assets.
(iv) Financial advisor :
The accountant analyses financial information and advises the business managers regarding investment opportunities, strategies for cost savings, capital budgeting, provision for future growth and development, expansion of enterprise, etc.
(v) Tax Manager :
1. The accountant ensures that tax returns are prepared and filed correctly on time and payment of tax is made on time.
2. The accountant can advisee the managers regarding tax management, reducing tax burden, availing tax exemptions, etc.
(vi) Public relation officer :
The accountant provides accounting information to various interested users for analysis as per their requirements.

Importance of accounting is enumerated as below :
(i) Systematic records :
1. All the business transactions are recorded in the books of accounts.
2. Any event or happening which has financial effects is included in the accounting records.
(ii) Preparation of financial statements :
Results of business operations and the financial position of the concern are provided by accounting periodically through the preparation of financial statements namely profit and loss account and balance sheet.
(iii) Assessment of progress :
Analysis and interpretation of financial statements can be done to assess the progress made in different areas and it also identify the areas of weaknesses.
(iv) Information to interested groups :
Accounting supplies appropriate information to different interested groups 'like owners, creditors, management, employees, financiers, tax authorities, and government.
(v) Taxation :
Accounting records are the basis source for computation and settlement of sales tax, income tax, and other local taxes.

The various branches of accounting are

(i) Financial Accounting :
1. It involves recording of financial transactions and events.
2. It provides financial information to the users for taking decisions.
3. It ends up with the preparation of trading and profit and loss account and balance sheet,
(ii) Cost Accounting :  
It involves the collection, recording, classification and appropriate allocation of expenditure for the determination of the costs of products or services and for the presentation of data for the purposes of cost control and managerial decision making.
(iii) Management Accounting :
It is concerned with the presentation of accounting information in such a way as to assist management in decision making and in the day - to - day operations of an enterprise.
(iv) Social Responsibility Accounting :
It is concerned with presentation of accounting information from the view point of the society by showing the social costs and social benefits.
(v) Human Resource Accounting :
It is concerned with identification, quantification, and reporting of investments made in human resources of an enterprise.