History of Accounting

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History
Of
Accounting

Marion Clarisse Bonoan
Ms. Champion
BAF 3M

According to the dictionary the word accounting means, the process or work of keeping financial accounts. However, how did accounting started? Was it just by a simple merchant or entrepreneur who needed a good and stable way to keep track of all his earnings? Or was it by an old mathematician studying ways to calculate how a business would be successful and just so happen to come across such a process? The history of accounting may not have the same ring to it as the History of World War II, but it does have interesting parts to it that makes people go “Oh so that’s why we add those two together to get that” or “Oh so Luca Pacioli started all this”. Accounting makes up 36.1 % of Canada’s main employment, based on statistics. It has opened a lot of opportunities for people to work and to make a life for themselves. The first name that comes to mind with the History of accounting is Luca Pacioli. Luca Pacioli is considered to be the “Father of Accounting”. Luca Pacioli was born in the Renaissance period. Born poor he didn’t have much future for himself at the time. Luca Pacioli despite his status had always been in love with math. He was an apprentice to a local business man when he joined the Franciscan Monastery in Sansepulcro, but soon after he left his apprenticeship to pursue the career as a mathematics scholar. During this time Pacioli met and befriended the artist Peiro della Francesca, who is one of the first and greatest writers and artists of perspective. Throughout their friendship they had journeyed over the Appenines, where Francesca had given Pacioli access to the library of Frederico, the Count of Urbino, where he furthered his knowledge of mathematics with the help of four thousand books. Francesca had also introduced Pacioli to Leon Baptist Alberti. Alberti had taken the liberty to be Pacioli’s mentor and had arranged for him to tutor the three sons of the rich

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