Luca Pacioli

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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.
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28 verso in edition of Fra Luca Pacioli [da Borgo San Sepolcro], Divina proportione.
Fra Luca Pacioli, a Venetian monk, first described double entry accounting in 1494.
Until now, most CPAs used computers simply to automate the tasks they have been doing since the double-entry bookkeeping method long used by Venetian merchants was codified and published by Fra Luca Pacioli 500 years ago.
3) Documented by Fra Luca Pacioli, De Divina Proportione, Venice, 1509, in the dedicatory letter composed on 9 February 1498.