Luca Pacioli

(redirected from Fra Luca Bartolomeo de Pacioli)
Also found in: Encyclopedia.

Luca Pacioli

A Franciscan friar who is widely regarded as the father of modern accounting. While he did not invent double-entry bookkeeping, he was the first to write a treatise on it. He was also the first to describe balance sheets and income statements. He famously said, "A person should not go to sleep at night until the debits equal the credits." He died in 1517.
References in periodicals archive ?
The system that generates these 21st-century accounting figures --the numbers that run our nations and corporations--was first codified by a Renaissance friar named Fra Luca Bartolomeo de Pacioli.