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Luca Pacioli
Luca Bartolomeo de Pacioli, O.F.M. (sometimes ''Paccioli'' or ''Paciolo''; 1447 – 19 June 1517) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and an early contributor to the field now known as accounting. He is referred to as the father of accounting and bookkeeping and he was the first person to publish a work on the double-entry system of book-keeping on the continent. He was also called Luca di Borgo after his birthplace, Borgo Sansepolcro, Tuscany. Life Luca Pacioli was born between 1446 and 1448 in the Tuscan town of Sansepolcro where he received an abbaco education. This was education in the vernacular (''i.e.'', the local tongue) rather than Latin and focused on the knowledge required of merchants. His father was Bartolomeo Pacioli; however, Luca Pacioli was said to have lived with the Befolci family as a child in his birth town Sansepolcro. He moved to Venice around 1464, where he continued his own education while working ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Order Of Friars Minor
The Order of Friars Minor (commonly called the Franciscans, the Franciscan Order, or the Seraphic Order; Post-nominal letters, postnominal abbreviation OFM) is a Mendicant orders, mendicant Catholic religious order, founded in 1209 by Francis of Assisi. The order adheres to the teachings and spiritual disciplines of the founder and of his main associates and followers, such as Clare of Assisi, Anthony of Padua, and Elizabeth of Hungary, among many others. The Order of Friars Minor is the largest of the contemporary Religious institute#Categorization, First Orders within the Franciscan movement. Francis began preaching around 1207 and traveled to Rome to seek approval of his order from Pope Innocent III in 1209. The original Rule of Saint Francis approved by the pope disallowed ownership of property, requiring members of the order to beg for food while preaching. The austerity was meant to emulate the life and ministry of Jesus Christ. Franciscans traveled and preached in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathematics
Mathematics is a field of study that discovers and organizes methods, Mathematical theory, theories and theorems that are developed and Mathematical proof, proved for the needs of empirical sciences and mathematics itself. There are many areas of mathematics, which include number theory (the study of numbers), algebra (the study of formulas and related structures), geometry (the study of shapes and spaces that contain them), Mathematical analysis, analysis (the study of continuous changes), and set theory (presently used as a foundation for all mathematics). Mathematics involves the description and manipulation of mathematical object, abstract objects that consist of either abstraction (mathematics), abstractions from nature orin modern mathematicspurely abstract entities that are stipulated to have certain properties, called axioms. Mathematics uses pure reason to proof (mathematics), prove properties of objects, a ''proof'' consisting of a succession of applications of in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cost Accounting
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing them with standard costs". Often considered a subset or quantitative tool of Management accounting, managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Cost accounting information is also commonly used in financial accounting, but its primary function is for use by managers to facilitate their decision-making. Origins of cost accounting All types of businesses, whether manufacturing, trading or producing services, r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Accounting Ethics
Accounting ethics is primarily a field of applied ethics and is part of business ethics and human ethics, the study of moral values and judgments as they apply to accountancy. It is an example of professional ethics. Accounting was introduced by Luca Pacioli, and later expanded by government groups, professional organizations, and independent companies. Ethics are taught in accounting courses at higher education institutions as well as by companies training accountants and auditors. Due to the wide range of accounting services and recent corporate collapses, attention has been drawn to ethical standards accepted within the accounting profession. These collapses have resulted in a widespread disregard for the reputation of the accounting profession. To combat the criticism and prevent fraudulent accounting, various accounting organizations and governments have developed regulations and remedies for improved ethics among the accounting profession. Importance of ethics The natu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trial Balance
A trial balance is an internal financial statement that lists the adjusted closing balances of all the general ledger accounts (both revenue and capital) contained in the ledger of a business as at a specific date. This list will contain the name of each nominal ledger account in the order of liquidity and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column. The trading profit and loss statement and balance sheet and other financial reports can then be produced using the ledger accounts listed on the same balance. History The first published description of the process is found in Luca Pacioli's 1494 work '' Summa de arithmetica'', in the section titled ''Particularis de Computis et Scripturis''. Although he did not use the term, he essentially prescribed a techniqu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Statement
An income statement or profit and loss accountProfessional English in Use - Finance, Cambridge University Press, p. 10 (also referred to as a ''profit and loss statement'' (P&L), ''statement of profit or loss'', ''revenue statement'', ''statement of financial performance'', ''earnings statement'', ''statement of earnings'', ''operating statement'', or ''statement of operations'') is one of the financial statements of a company and shows the company's revenues and expenses during a particular period. It indicates how the revenues (also known as the ''“top line”'') are transformed into the net income or net profit (the result after all revenues and expenses have been accounted for). The purpose of the income statement is to show managers and investors whether the company made money (profit) or lost money (loss) during the period being reported. An income statement represents a period of time (as does the cash flow statement). This contrasts with the balance sheet, which represe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Balance Sheet
In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year. A balance sheet is often described as a "snapshot of a company's financial condition". It is the summary of each and every financial statement of an organization. Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. A standard company balance sheet has two sides: assets on the left, and financing on the right–which itself has two parts; liabilities and ownership equity. The main categories of assets are ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
McGraw-Hill Higher Education
McGraw Hill is an American education science company that provides educational content, software, and services for students and educators across various levels—from K-12 to higher education and professional settings. They produce textbooks, digital learning tools, and adaptive technology to enhance learning experiences and outcomes. It is one of the "big three" educational publishers along with Houghton Mifflin Harcourt and Pearson Education. McGraw Hill also publishes reference and trade publications for the medical, business, and engineering professions. Formerly a division of The McGraw Hill Companies (later renamed McGraw Hill Financial, now S&P Global), McGraw Hill Education was divested and acquired by Apollo Global Management in March 2013 for $2.4 billion in cash. McGraw Hill was sold in 2021 to Platinum Equity for $4.5 billion. History McGraw Hill was founded in 1888, when James H. McGraw, co-founder of McGraw Hill, purchased the ''American Journal of Railway A ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Double-entry Accounting System
Double-entry bookkeeping, also known as double-entry accounting, is a method of bookkeeping that relies on a two-sided accounting entry to maintain financial information. Every entry to an account requires a corresponding and opposite entry to a different account. The double-entry system has two equal and corresponding sides, known as debit and credit; this is based on the fundamental accounting principle that for every debit, there must be an equal and opposite credit. A transaction in double-entry bookkeeping always affects at least two accounts, always includes at least one debit and one credit, and always has total debits and total credits that are equal. The purpose of double-entry bookkeeping is to allow the detection of financial errors and fraud. For example, if a business takes out a bank loan for $10,000, recording the transaction in the bank's books would require a DEBIT of $10,000 to an asset account called "Loan Receivable", as well as a CREDIT of $10,000 to an asset ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of Perugia
The University of Perugia ( Italian ''Università degli Studi di Perugia'') is a public university in Perugia, Italy. It was founded in 1308, as attested by the Bull issued by Pope Clement V certifying the birth of the Studium Generale. The official seal of the university depicts Saint Herculan, one of the patron saints, and the rampant crowned griffin, which is the city symbol; they represent the ecclesiastical and civil powers, respectively, which gave rise to the university in the Middle Ages. History One of the "free" universities of Italy, it was elevated into a ''studium generale'' on September 8, 1308, by the Bull "Super specula" of Clement V. A school of arts existed by about 1200, in which medicine and law were soon taught, with a strong commitment expressed by official documents of the City Council of Perugia. Before 1300 there were several ''universitates scholiarum''. Jacobus de Belviso, a famous civil jurist, taught here from 1316 to 1321. By Bull on August 1, 131 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pacioli De Divina Proportione Head Equilateral Triangle 1509
Luca Bartolomeo de Pacioli, O.F.M. (sometimes ''Paccioli'' or ''Paciolo''; 1447 – 19 June 1517) was an Italian mathematician, Franciscan friar, collaborator with Leonardo da Vinci, and an early contributor to the field now known as accounting. He is referred to as the father of accounting and bookkeeping and he was the first person to publish a work on the double-entry system of book-keeping on the continent. He was also called Luca di Borgo after his birthplace, Borgo Sansepolcro, Tuscany. Life Luca Pacioli was born between 1446 and 1448 in the Tuscan town of Sansepolcro where he received an abbaco education. This was education in the vernacular (''i.e.'', the local tongue) rather than Latin and focused on the knowledge required of merchants. His father was Bartolomeo Pacioli; however, Luca Pacioli was said to have lived with the Befolci family as a child in his birth town Sansepolcro. He moved to Venice around 1464, where he continued his own education while working ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
