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Andrekos Varnava Peter Clarke

Abstract

Compared to many developed countries in the former British Empire, little has been written about the accounting history of the Mediterranean island of Cyprus. This article attempts to fill this void. It focuses on the transition in accounting practice from the last four decades of Ottoman rule to the first four decades of British rule. The main focus is on the significant influences on the development of accounting practice on the island during the four decades from the start of the British occupation and administration in 1878, ending with the Great War in 1918. This period constitutes the ‘source phase’ of the theory proposed by McKinnon (1986), and therefore the beginning of modern accounting practice in both the public and private sectors. Like other studies on the history of accounting in various states, this paper argues that the practice of accounting evolved in response to political, economic, legal, social and military changes and challenges.

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Keywords

Ottoman Cyprus, British Cyprus, Colonial development, economy, accounting practice

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