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    ld accurately determine the results of large volumes of transactions involving several parties. Consequently, the double-entry system
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    The particulars of transaction and financial relationships between different parties have been written up in the form of financial records since the dawn of civilisation, examples being Babylonian clay tablets and records from the Roman and Greek civilisations.

    Our present system of accounting has its origins in Renaissance Italy. By the 12th century the bustle and extent of the wide-ranging trading activities engaged in by the Italian city-states had created the need for an effective system of financial recording which could accurately determine the results of large volumes of transactions involving several parties. Consequently, the double-entry system

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    ords since the dawn of civilisation, examples being Babylonian clay tablets and records from the Roman and Greek civilisations.

    Our present system of accounting has its origins in Renaissance Italy. By the 12th century the bustle and extent of the wide-ranging trading activities engaged in by the Italian city-states had created the need for an effective system of financial recording which could accurately determine the results of large volumes of transactions involving several parties. Consequently, the double-entry system

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    Our present system of accounting has its origins in Renaissance Italy. By the 12th century the bustle and extent of the wide-ranging trading activities engaged in by the Italian city-states had created the need for an effective system of financial recording which could accurately determine the results of large volumes of transactions involving several parties. Consequently, the double-entry system
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    trading activities engaged in by the Italian city-states had created the need for an effective system of financial recording which could accurately determine the results of large volumes of transactions involving several parties. Consequently, the double-entry system
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    ld accurately determine the results of large volumes of transactions involving several parties. Consequently, the double-entry system of bookkeeping, the basis of our modern accounting system, was developed.

    During the renaissance, this system of accounting became known throughout Europe; by the 16th century it was standard practise in England, Germany and Holland. The first published description of the double-entry system appeared in Venice in 1494. Written by Luca Paciolo, it was entitled Summa de Arithmetica Geometria et Proportionalita.

    The 18th century saw the emergence of another factor that exerted considerable influence on the development o

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