Who is credited with documenting the double-entry accounting system?

Understand the Problem

The question is asking about the historical figure who is recognized for recording the principles of the double-entry accounting system, which is an important topic in accounting history.

More Information

Luca Pacioli, an Italian mathematician and Franciscan friar, is known as the 'Father of Accounting' for his 1494 book detailing the double-entry bookkeeping method. He described the system used by Venetian merchants, which remains foundational in accounting today.

Tips

A common mistake is attributing the development of the system to Pacioli; he documented and popularized it, but it was already in use by merchants.

Sources

• Double-entry bookkeeping - Corporate Finance Institute - corporatefinanceinstitute.com
• Solved - Who is credited with documenting the double entry accounting - studocu.com
• Who is credited with documenting the double entry - Course Hero - coursehero.com