We can all look back to the Renaissance as a turning point for accounting. In 1494, Luca Pacioli, an Italian mathematician and Franciscan friar (widely regarded as the Father of Accounting) published Summa de arithmetica, geometria, proportioni et proportionalita, introducing double-entry bookkeeping. This system of debits and credits allowed merchants to track assets and liabilities with accuracy and reliability.
For me, the significance of Pacioli’s work cannot be overstated. It introduced transparency and accountability into commerce at a time when Europe’s trade networks were expanding rapidly. I see double-entry bookkeeping as more than a method - it was a revolution in how humans organised wealth and built trust in business.
I am impressed by how enduring this innovation has been. Today, centuries later, we still use the same basic principles of debits and credits. That continuity makes us appreciate that accounting has always been about growth, trust, and progress, not just numbers on a page.
Reflecting on Pacioli reminds us that the systems we rely on today were built on insight, curiosity, and practical need. Accounting isn’t just a profession; it’s a story of civilisation itself.
