The correct assessment of the current level of development of the analysis of financial and economic activities of enterprises and the influence of its theory and science on analytical practice largely depends on the knowledge of the history of its origin and formation. In the specialized literature the history is considered very rarely, and some important sources are not taken into account. The research was carried out by the author in 2015–2017. Wherein there were used general scientific methods of cognition, methods of special economic sciences and foreign professional literature. The earlier unknown paper on economic analysis — “A Brief Review of the Perm Industrial Complex for the years 1924–1925 and 1925–1926” was critically studied and evaluated, and also quite fully presented to a wide circle of readers and specialists. The content and methodology of the analysis (that was carried out more than 90 years ago) of fixed and working capital, depreciation charges, bank loans, profits and losses, capital works, production program, labor, wages, labor productivity, quality, cost and sales of products, overhead costs, trade and procuring activity, sales markets, selling prices, etc. was disclosed. A number of conclusions regarding the evolution of the analysis of economic activity have been made, as well as suggestions for its further improvement in the current conditions of market economy management and standardization of analytical processes.