Founder & Father of Accounting: Pacioli

nce upon a there was a Franciscan Friar named Luca Bartolomes (1445 – 1517). This mathematician stands at the of our current and transactions as we know it today.

The 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.

La summa included topics on jouralizing, posting and balancing the in the general ledger through the use of the -entry system of recording.

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!

This entry was posted in Management Accounting and tagged , , , , , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *