Accounting was Discovered by Some Nerdy Guy With a Pocket Protector

Accounting was actually discovered by Luca Pacioli, an Italian Monk. He s commonly referred to as the Father of Accounting. Pacioli founded what s referred to as double entry accounting in 1494. His first accounts detailed the early systems used be Venetian Merchants for accounts receivables and inventories utilizing journals and ledgers. Pacioli uncovered principles and methods which are still used in our financial world on a daily basis.