Unit 2 Review Activity

Majapahit Kingdom (1293 AD -1478 AD)

Content of the source:

Information of the source:

This source is a part of the research of Novrida Q. Lutfillah, Eko G. Sukoharsonob , Aji D. Mulawarmanc, and Yeney W. Prihatiningtiasd published in 2015 aimed to investigate the accounting practices of the Majapahit Kingdom in Indonesia by examining local trading activities. Findings indicate that accounting functioned as a socio-economic and cultural mechanism for regulating market (pken) operations.

The accounting existence at local trading activity can be seen with Majapahit kingdom identifies and purchase transactions are happening in market. The emergence of markets cannot be separated from the needs of local and regional economic activity. In tablets, market is called the pkan or pken (Rahardjo, 2011, p. 288). Market locations are usually chosen in a strategic place as at edge of river or road side. This strategic place selection facilitates the sellers and buyers to choose land or water channels.

Market in Majapahit Kingdom has an important role for ruler (king) and people. King set up the system and market mechanisms to maintain and protect the security of its people in trading activity. King put the officials in market with job titles of mapkan, mangraksa pasar, tuha dagang, and hulu waras, (Boechari, 2014, p. 38). These terms indicates that market in Majapahit Kingdom had organized control.

Definition of Concept and Terms:

Accounting - tracking money

Market Mechanisms - rules for buying and selling