Happy 521st Birthday to Double Entry Bookkeeping

[OwlHoot]

Yes, happy 1000 479 th birthday

[MicrosoftBob]

Hurrah for double entry

[NickFitz]

Go on then, I'm in

[rsingh]

Happy International Accounting Day. Today we celebrate the creation of double entry!
On November 10, 1494, Luca Pacioli published a book called "Summa de Arithmetica, Geometria, Proportioni et Proportionalita" (Everything About Arithmetic, Geometry and Proportion) . It summarised the mathematical knowledge of those days.
One part "Particularis de computis et scripturis" (About accounts and other writings) provides a detailed description of Venetian book-keeping. This was the first printed essay on double entry bookkeeping, called "Method of Venice"
In the book, he described the use of journals and ledgers, and warned that a person should not go to sleep at night until the debits equalled the credits. His ledger had accounts for assets (including debtors and stock), liabilities, capital, income, and expenses — the account categories that are reported on an organisation's balance sheet and income statement, respectively. He demonstrated year-end closing entries and proposed that a trial balance be used to prove a balanced ledger.
Happy 521st Birthday to double entry bookkeeping.

Let's show our accountants some love