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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Popular accounts credit the Italian monk Luca Pacioli with inventing double-entry bookkeeping around 1494.
Accounting and the Auditing Function in Economic History: Transaction Costs, Trust, and Economic Progress
The foundation of modern accounting began during the Renaissance period when Italian mathematician Luca Pacioli published a book detailing the benefits of a double-entry system for recording accounting transactions that provided greater transparency to shareholders.
FROM THE MAINFRAME TO THE BLOCKCHAIN: With its triple-entry approach and use of distributed ledgers blockchain technology not only has the potential to redefine accounting and auditing, but it could also create greater confidence in all sorts of transactions and data exchanges
This was codified by Luca Pacioli who published a major survey of mathematics in 1494 that included a 27-page description with examples of double entry book-keeping and its utility (Double Entry, How the Merchants of Venice Created Modern Finance, by Jane Gleeson-White, W.W.
Blockchain/Distributed Ledger Technologies: Where They Came From, Where They Are Heading
In 1494 Luca Pacioli, a Franciscan friar and mathematician, codified their practices by publishing a manual on math and accounting that presented double-entry bookkeeping not only as a way to track accounts but as a moral obligation.
In blockchain we trust
It is interesting to note that while Friscia is considered the "Father of the ultimates," an earlier Italian, Luca Pacioli (1447-1517) from Tuscany, is recognized as the "Father of accounting."
Anthony D. Friscia: The "Ultimate" Studio Warrior
The father of accounting, Luca Pacioli, would publish an accounting textbook in 1494.
The Revolutionary Audit: A Brief History
Only later in the 15th century, Luca Pacioli, the father of accounting, from Italian origins, established the codification expression of double-entry to develop a financial accounting system, leading in time to modernize financial management and accounting.
Financial control in an it environment: Warrant of the financial performance of the entity
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