Development of Accounting

Is thought to have began in the 1400's, especially in Italy.  The technique of double-entry bookkeeping was documented by the famous Italian mathematician, scholar and philosopher Luca Pacioli.  He had published a book i.e., Summa de Arithimetica, Geometrica, Proportioni et Proportionalita which described accounting as practiced in that age.  It became a widely read book on mathematics in Italy and firmly established Pacioli as the "Father of Accounting."
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