nce upon a #time there was a Franciscan Friar named Luca Bartolomes #pacioli (1445 – 1517). This mathematician stands at the #basis of our current #accounting #principles and transactions as we know it today.
The #bookkeeping instructions were included in Fray Pacioli’s book La Summa, which contained 36 chapters about bookkeeping. It was not introduced as an accounting discipline but as part of mathematical procedures, which merchants could utilize in monitoring their assets, liabilities and investment exposure (capital).Pacioli even taught mathematics to Leonardo da Vinci.
For those who are truely interested we posted La Summa, “Reading Luca Pacioli’s Summa in Catalonia: An early 16th-century Catalan manuscript on algebra and arithmetic” here:
Enjoy the reading!