Accounting has been performed since the earliest period of civilisation. Archaeological records show that as early as 3,000 BC the Egyptians and Sumerians kept records of farm production and tax collection. The double-entry style of bookkeeping, which is still the chief system used today, was apparently developed by Venetian merchants in Italy in the thirteenth century. In 1984 the Australian Government established the Australian Accounting Standards Board to improve the quality and consistency of accounting reports and to cater for businesses trading both locally and internationally. Accounting information is used by management for planning and control purposes and to comply with government requirements. Common accounting terms include: