The origin of double-entry bookkeeping: Hypotheses and facts

Abstract

Subject. This article examines various historical versions of the origin and formation of double-entry bookkeeping for the period from the 13th century through the 15th century. Objectives. The article aims to consider various hypotheses and assumptions about the origin of double-entry bookkeeping, and identify the major points in the development of accounting using double-entry bookkeeping, taking into account specific historical conditions based on the application of the principle of historicism. Methods. For the study, I used analysis and synthesis, observation, comparison, and generalization. The works of well-known scientists, both Russian and foreign, in the field of the history of accounting served as the methodological basis for the study. Results. The article emphasizes the exceptional influence of Luca Pacioli's Treatise on the Accounts and Records (1494) on the writings of many authors on accountancy. It shows that before Luca Pacioli's work was presented, double-entry bookkeeping had been used in the practice of Italian merchants and bankers, and it gives a chronology of the appearance of accounting books and archival materials testifying to the birth of Italian double-entry bookkeeping. The article also describes the main characteristics of the accounting books of Venetian, Florentine and Genoese companies in medieval Italy, confirming the use of double-entry techniques. Conclusions and Relevance. The article concludes about the date and place of origin of double-entry bookkeeping. The study substantiates the position that in the process of researching the origin of double-entry bookkeeping, it is advisable to use authentic literary sources and archival materials of past periods.