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The history of accounting or accountancy can be traced to ancient civilizations. [ 1 ] [ 2 ] [ 3 ] The early development of accounting dates to ancient Mesopotamia , and is closely related to developments in writing , counting and money [ 1 ] [ 4 ] [ 5 ] and early auditing systems by the ancient Egyptians and Babylonians . [ 2 ]
Accounting, also known as accountancy, is the process of recording and processing information about economic entities, such as businesses and corporations. [1] [2] Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders, including investors, creditors, management, and regulators. [3]
Luca Bartolomeo de Pacioli, O.F.M. (sometimes Paccioli or Paciolo; c. 1447 – 19 June 1517) [3] was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and an early contributor to the field now known as accounting.
Michael Chatfield (1930s-2004 [1]) was an American economist, accounting historian, and Emeritus Professor of Accounting at the Southern Oregon University, known for his work on the history of accounting and accounting thought, [2] and particularly for his History of Accounting: An International Encyclopedia, edited with Richard Vangermeersch.
The earliest extant accounting records that follow the modern double-entry system in Europe come from Amatino Manucci, a Florentine merchant at the end of the 13th century. [1] Manucci was employed by the Farolfi firm and the firm's ledger of 1299–1300 evidences full double-entry bookkeeping.
The Academy of Accounting Historians' Journal and Notebook contain, respectively, scholarly research on accounting history and information on the activities of the Academy. The Accounting Pamphlets - Full-Text collection contains searchable full-text accounting pamphlets that are not under copyright.
Accounting History is a quarterly peer-reviewed academic journal that covers the history of accounting. The journal's editors-in-chief are Carolyn Fowler (Victoria University of Wellington), [ 1 ] Carolyn Cordery (Aston University) [ 2 ] and Laura Maran (RMIT University).
Pacioli is regarded as the Father of Accounting. Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. [1] It involves preparing source documents for all transactions, operations, and other events of a business.