Leadership challenge?
13 September 2012
The history of double-entry bookkeeping gives us some perspective on why we use it today, its ubiquity, and whether it has now outlived its usefulness.
It is now more than 500 years since Luca Pacioli, a Franciscan friar, wrote his Summa de arithmetica, geometrica, proportioni et proportionalità, the book that forms the basis of contemporary accounting practice through the application of double-entry bookkeeping.
However, even though he was the first to publish on the subject, Pacioli did not invent this form...