History of Accounting

Question 1

The first name that might come to mind when referencing early accounting history

Answer 1

Fra

Luca Bartolomeo de Pacioli

Question 2

An Italian mathematician, Franciscan friar, collaborator with
Leonardo da Vinci, who described double-entry bookkeeping in his “Summa de Arithmetica,
Geometria, Proportioni et Proportionalita” in 1494.

Answer 2

Fra

Luca Bartolomeo de Pacioli

Question 3

The earliest accounting records were found over 7,000 years ago among the

Answer 3

The Ruins of

Ancient Mesopotamia

Question 4

is an account of Emperor Augustus’ financial dealings which he
then probably used for planning and decision-making purposes

Answer 4

“The Deeds of the Divine Augustus”

Question 5

In 1494, Pacioli this which included a twenty-seven-page treatise on bookkeeping titled, Particularis de Computis et
Scripturis (Details of Calculation and Recording) on the subjects of record keeping and doubleentry accounting.

Answer 5

wrote Summa de Arithmetica, Geometria, Proportioni et Proportionalita

Question 6

During the Middle Ages, the ____ was the primary form of money-changing, but when
Europe changed to a monetary economy is the 13th Century, merchants began relying on
bookkeeping to keep a record of multiple transactions.

Answer 6

Bartering

Question 7

They cites that, “The knowledge, skills and abilities necessary for the entry-level
accountant now include the application and integration of information technology into the
ACCOUNTING PRINCIPLES 7
accounting process, as well as financial and managerial accounting principles” (Dillon, Kruck,
2004)

Answer 7

American Institute of Certified Public

Accounts (AICPA)