Where do we get accounting from?

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For some reason everyone seems to sigh when accounting and accountancy is mentioned or brought up. However, this is a bit short sighted as the Accountant has one of the most important roles within an organisation by far. They are responsible for ensuring that the companies finance is on a level footing, all Tax has been paid and rebates claimed, plus any expenditures are properly explained and costed. They will also look at producing the budgets for the next year so that the business can stay within its means.

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So, there is a need but where does it come from? As Cheltenham Accountants https://www.randall-payne.co.uk/ will tell you the origins of accounting date back to the dawn of humanity.  We may not have had a name for them but it is clear from records that someone was responsible for ensuring that stores were full and that some kind of wages were paid to people.

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The big name in Accounting is that of  Luca Pacioli. It was he, in fifteenth century renaissance Italy, who takes the idea of double entry bookkeeping, used by the Roman and Chinese, and starts to add plus and minus figures to illustrate debit and credit. It is so popular that others such as Leonardo Di Vinici use it in their figures too. Modern accountantcy is born.

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