Henry Ford is often looked up to as the father of mass production; doctors have their Hippocrates, and philosophers have Plato. But who is the father of accounting?For a long time, accountants did not recognize the name of Luca Pacioli although about the same time Columbus was discovering America, Luca was writing the directions for double-entry bookkeeping. Pacioli was the first person to describe double-entry accounting, also known as the Venetian method. This new system was then state of the art, it revolutionized economy and business. Pacioli’s directions became the most widely read mathematical work in all of Italy, and his work was one of the first books published on the Gutenberg press.
The fact that his book “Summa de Arithmetic, Geometria, Proportioni et Proportionalita” was illustrated by Leonardo da Vinci, added needed credibility. (Where is Leonardo now when I am planning to write a book?)