History of accounting

The study of science-based accounting was first written expression in the work of Benedetto Cotrugli, a businessman, economist, scientist, diplomat and humanist Croatian based in Naples. In 1458 Cotrugli wrote the book Mercatura l'Art (Art Trade Paper) which contains an appendix with an inventory and a number of journal entries.
Subsequently, in 1494, Luca Pacioli (1445-1517) published in Venice his work Summa de Arithmetica, Geometry, and Proportionalita Proportioni. It Pacioli spent thirty-six chapters to the description of the accounting methods used by the main Venetian merchants. The author spent, also part of their work to the description of other commercial uses, such as partnership agreements, the receipt of interest and use of bills of exchange. It is said that in ancient times used or could read the famous tongue brown or "devil's tongue" which was used to investigate the accounting in the classical age, where accounting and accountants that time were those that managed all trade in the market.
Pacioli According to entries in the journal consist of two distinct parts: one beginning with the word for (the seat should accountant) and the other with the word A (the Haber of the accounting record), history of traditional accounting entry model . Since at that time was not the custom to use the balance sheet, only the uses described in the preparation of trial balance Trial balances, which was used to run out the pages of the ledger.
These notes were executed under the rules of double entry, which Pacioli claimed he only taught, which is already running much earlier by the merchants. The double entry ensures that for every increase in assets on the debit side there is a decrease in liabilities and capital accounts within the credit. Also, having a decrease in asset accounts in debits, there is an increase in liabilities and capital accounts within the belt, and made the rules of double entry.
The English translation was published in London by John Gouge or Gough in 1543. It is described as A Profitable Treaty (A profitable treatyce), also called the Instrument or Book to learn the good order of keeping the famous call in Latin Dare knowledge and assets, ie debit and credit.
It published a small book of instruction in 1588 by John Mellis of Southwark, which says, "I'm renovating an old copy reviver published here in London on August 14, 1543. John Mellis refers to the fact that explains accounting principles (which is a simple system of double entry) is "the way of Venice." (...). The Accounting has one goal: Provide the necessary information for making correct decisions