LUCA PACIOLI – 'FATHER' OF DOUBT – ENTRY ACCOUNTING.
Fra Luca Bartolomeo de Pacioli. Lived in 1445 – 1517. was an Italian mathematician, Franciscan friar. seminal contributor to the field now known as accounting.
Life was born in 1447 in Sansepolcro. education focused on the knowledge required of merchants. around 1464 worked as a tutor to the three sons of a merchant. during this period he wrote his first book. in 1494 his first book was printed. in Milano he taught mathematics to Leonardo da Vinci. Pacioli died at age 70(+/-) in 1517.
His first book. was one of five sections in Pacioli's mathematics book titled "Everything about Arithmetic, Geometry, and Proportions. “ five centuries later, accountants from around the world gathered in the Italian village of San Sepulcro to celebrate the anniversary of the book's publication.
"Father of Accounting" he did not invent the system. he simply described a method used by merchants in Venice during the Italian Renaissance period. system included most of the accounting cycle as we know it today. his treatise alludes to a wide range of topics from accounting ethics to cost accounting.
"Father of Accounting" Pacioli was about 49 years old in 1494 - just two years after Columbus discovered America - when he returned to Venice for the publication of his fifth book. it was printed on November 10, 1494. Guttenberg had just a quarter-century earlier invented metal type, and it was still an extremely expensive proposition to print a book.
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