The necessity of accounting in
business arose due to the limitations of
human memory. The business transactions
are to be recorded in the books in a systematic manner.
The modern system of accounting owns
its origin to LUCA PASSIOLI an Italian,
who fi rst published on DOUBLE ENTRY
SYSTEM of accounting in 1494.
Luca Pacioli was born in 1447 in Sansepolcro (Tuscany).
He moved to Venice around 1464 and he
known as father of Accounting
business arose due to the limitations of
human memory. The business transactions
are to be recorded in the books in a systematic manner.
The modern system of accounting owns
its origin to LUCA PASSIOLI an Italian,
who fi rst published on DOUBLE ENTRY
SYSTEM of accounting in 1494.
Luca Pacioli was born in 1447 in Sansepolcro (Tuscany).
He moved to Venice around 1464 and he
known as father of Accounting
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