Who Form 1120 Schedule M 3 Portion 2019-2024

Hello class, today we're going to talk about Marco Polo. Now, you all know who Marco Polo was. Well, he was an Italian guy, and way back in the 1200s, at the age of 17, he departed on a journey with his uncle and several other merchants from Venice into the very distant regions of Central Asia, China, and areas beyond. They stayed away for many, many years. They were among the very first merchants to venture from Europe into the vast regions of Asia. When they returned, they had amassed vast amounts of wealth, property, and goods. They built huge multinational trading empires upon these journeys. In those days, the Venetians occupied a very unique niche in the business world. They acted as the middleman between the primitive kingdoms of Europe and the vast wealthy empires of Asia. As middlemen, they built up these great trading enterprises. Now, why do I mention Marco Polo? Well, because it was just about that same time in history where the first records of the accounting system that we know now came into being. We can see that these records and the system that was in use in those days by these Venetian merchants is merely the same system that we use today. In fact, in the early days, it was referred to as the Venetian method. Let me give you a sense of how it came into being, and we'll take a simplified kind of story here. Let's say you are a Venetian merchant and you've got a big trading business. It is very complicated, and you need to keep records of your transactions, goods, property, and all that kind of thing. You need to keep records, you need information because accounting is all about information that we need to conduct our business. They had...