History of Accounting

Who Is Lucas Pacioli? An Italian accountant and mathematician Born in 1446 in Sansepolcro, Italy Known as the “father of accounting” Created/ published the first ever accounting book in 1494 (, which was based on five sections found in the title of his book. He added on to his contributions by publishing a second book on double-entry accounting He also was the man responsible for introducing the use of journals and ledgers in accounting

One Event Considered to Be the Basis For Accounting History Accounting can date back to the 14th century with its introduction of double-entry bookkeeping by Lucas Pacioli. In Pacioli’s book, De Computis et Scripturis,there are many commerce topics. Paciloi’s book also marks the beginning of the development of accounting.

How The Accounting Profession Developed After Pacioli, the modern foundation of accounting emerged in 1854 when the profession of charted accounting came about. Many rules of the accounting world have changed over the years.

Other Individuals Associated With Accounting Benedetto Cotrugli

Countries That Influenced The Accounting System That We Know Today Scotland Italy

How Did These Countries Influence The Accounting System? Italy- Developed the concept of double-entry bookkeeping Scotland- Developed the concept of chartered accounting and the position known as the chartered accountant, which is used in the U.S. today.

Seven Key Ingredients That Led To Double Entry Accounting Private Property Capital Commerce Credit Writing Money Arithmetic

Famous Accountants J.P. Morgan Arthur Blank Julia Sweeney Walter L. Morgan Krystal Ball

Other Important/ Interesting Facts Accounting records date all the way back to the existence of Mesopotamia, in which the development of accounting, numbers, and money can be shown through taxation and other trading activities in the temples of Mesopotamia. Accounting also dates back to the Egyptians, and their use of clay tablets to record financial information.