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  • The Genesis of Double Entry Bookkeeping

    Author(s)
    Sangster, Alan
    Griffith University Author(s)
    Sangster, Alan
    Year published
    2016
    Metadata
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    Abstract
    The emergence of double entry bookkeeping marked the shift in bookkeeping from a mechanical task to a skilled craft, and represented the beginnings of the accounting profession. This study seeks to identify what caused this significant change in bookkeeping practice. I do so by adopting a new accounting history perspective to investigate the circumstances surrounding the emergence of double entry in early 13th century Italy. Contrary to previous findings, this paper concludes that the most likely form of enterprise where bookkeeping of this form emerged is a bank, most likely in Florence. Accountability of the local bankers ...
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    The emergence of double entry bookkeeping marked the shift in bookkeeping from a mechanical task to a skilled craft, and represented the beginnings of the accounting profession. This study seeks to identify what caused this significant change in bookkeeping practice. I do so by adopting a new accounting history perspective to investigate the circumstances surrounding the emergence of double entry in early 13th century Italy. Contrary to previous findings, this paper concludes that the most likely form of enterprise where bookkeeping of this form emerged is a bank, most likely in Florence. Accountability of the local bankers in Florence to the Bankers Guild provided a unique external impetus to generate a new form of bookkeeping. This new bookkeeping format provided a clear and unambiguous picture of the accounts of all debtors and creditors, along with the means to check that the entries between them were complete and accurate.
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    Journal Title
    Accounting Review
    Volume
    91
    Issue
    1
    DOI
    https://doi.org/10.2308/accr-51115
    Subject
    Accounting, Auditing and Accountability not elsewhere classified
    Accounting, Auditing and Accountability
    Publication URI
    http://hdl.handle.net/10072/173153
    Collection
    • Journal articles

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