Ancient Complex Civilizations:

1. Double entry accounting system first invented in Italy by a church father who’s named Luca Bartolomes Pacioli. He was the mathematician and contemporary of Leonardo Da Vinci. He wrote a book which name was “Summa de Arithmetica, geometry, proportions et proportionalità”. This book called Accounting bible.

2. In the year 1482, accomplished his third thesis on mathematics. Pacioli was many of his eras who sought preferment as a teacher. He traveled throughout Italy, lecturing on mathematics and in 1486 he completed his university education with the equivalent of a doctorate degree.

3. The thirteenth century a treasure whose name is Amitino Minucci. He was kept accounting record to use debit and credit method and journalize the entries. Rest of the balances carried forward to the next year which shows he maintained double entry accounting.

4. One of the earlier references can trace as far back as 1211 were fragments of a double entry bookkeeping system where to find. Historical records show that since the second caliphate, 634-644. Muslim civilizations had adopted written accounting also. Reporting and auditing systems for the regulation of zakat.

5. Pacioli’s text was believed to predate by Benedetto Cot rug Li’s. Dual entry bookkeeping book written in 1458 – it (and possibly other manuscripts) had circulated the Italian city. States as handwritten documents during the 15th century. However, it wasn’t published until 1573 so Pacioli’s state to the earliest published bookkeeping text remains true.

6. Dual entry system in accounting is not only used in journal entries it also uses ledger account, trial balance and the financial statement which had written by hand but nowadays it is implied in software in small Business or an Industry, in charity or a non-profit organization that is using extensively and widely. All over the world accepted Luca Pacioli’s accounting methods which he invented 15th century and this method so much acceptable for the accounting firms also.