0_Wizard
Accounting is a great field to get into! It was actually established by Luca Pacioli in 1494
The modern field was established by the Italian mathematician Luca Pacioli in 1494.
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Accounting
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History of accounting
The history of accounting or accountancy is thousands of years old and can be traced to ancient civilizations. The early development of accounting dates back to ancient Mesopotamia, and is closely related to developments in writing, counting and money and early auditing systems by the ancient Egyptians and Babylonians. By the time of the Roman Empire, the government had access to detailed financial information. In India Chanakya wrote a manuscript similar to a financial management book, during the period of the Mauryan Empire. His book "Arthashasthra" contains few detailed aspects of maintaining books of accounts for a Sovereign State.
Mathematics and art
Mathematics and art are related in a variety of ways. Mathematics has itself been described as an art motivated by beauty. Mathematics can be discerned in arts such as music, dance, painting, architecture, sculpture, and textiles. This article focuses, however, on mathematics in the visual arts. Mathematics and art have a long historical relationship. Artists have used mathematics since the 4th century BC when the Greek sculptor Polykleitos wrote his "Canon", prescribing proportions based on the ratio 1:√2 for the ideal male nude. Persistent popular claims have been made for the use of the golden ratio in ancient art and architecture, without reliable evidence.
Luca Pacioli
Fra Luca Bartolomeo de Pacioli (sometimes "Paccioli" or "Paciolo"; 1447–1517) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and a seminal contributor to the field now known as accounting. He is referred to as "The Father of Accounting and Bookkeeping" in Europe and he was the first person to publish a work on the double-entry system of book-keeping in that continent. He was also called Luca di Borgo after his birthplace, Borgo Sansepolcro, Tuscany. Luca Pacioli was born between 1446 and 1448 in Sansepolcro (Tuscany) where he received an abbaco education. This was education in the vernacular ("i.e.
Summa de arithmetica
Summa de arithmetica, geometria, proportioni et proportionalita ("Summary of arithmetic, geometry, proportions and proportionality") is a book on mathematics written by Luca Pacioli and first published in 1494. It contains a comprehensive summary of Renaissance mathematics, including practical arithmetic, basic algebra, basic geometry and accounting, written in Italian for use as a textbook. The "Summa" is the first printed work on algebra in a vernacular language, and it contains the first published description of the double-entry bookkeeping system. It set a new standard for writing and argumentation about algebra, and its impact upon the subsequent development and standardization of professional accounting methods was so great that Pacioli is sometimes referred to as the "father of accounting."
Leonardo da Vinci
Leonardo di ser Piero da Vinci (; 15 April 14522 May 1519), more commonly Leonardo da Vinci or simply Leonardo, was an Italian Renaissance polymath whose areas of interest included invention, painting, sculpting, architecture, science, music, mathematics, engineering, literature, anatomy, geology, astronomy, botany, writing, history, and cartography. He has been variously called the father of palaeontology, ichnology, and architecture, and is widely considered one of the greatest painters of all time. Sometimes credited with the inventions of the parachute, helicopter and tank, he epitomised the Renaissance humanist ideal.
Accounting
Accounting or accountancy is the measurement, processing, and communication of financial information about economic entities such as businesses and corporations. The modern field was established by the Italian mathematician Luca Pacioli in 1494. Accounting, which has been called the "language of business", measures the results of an organization's economic activities and conveys this information to a variety of users, including investors, creditors, management, and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Debits and credits
In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in account ledgers to record changes in value resulting from business transactions. Generally speaking, the sources for spending money in transaction account is "credit" (that is, an entry is made on the right side of the account's ledger) and what the money obtained with the credits is destined as "debit" in transaction accounts (that is, an entry is made on the left side). The credits here could also be share capital, revenues, etc. and The debits here could be assets, dividends, etc. From a technical point of view the sides refer to the balance sheet placement of accounts.
1_Apprentice
Wow, how neat! I wonder what they used to count back then? Was it even money?