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Alan Sangster - One of the best experts on this subject based on the ideXlab platform.

  • De Raphaeli: Venetian double entry Bookkeeping in 1475
    De Computis - Revista Española de Historia de la Contabilidad, 2019
    Co-Authors: Alan Sangster
    Abstract:

    “ De Raphaeli: Venetian Double Entry Bookkeeping in 1475 ” de Alan Sangster ( Aberdeen University, UK ). Comentario realizado por: Esteban Hernandez Esteve ( Comision de Historia de la Contabilidad de AECA ).

  • Benedetto cotrugli on double entry Bookkeeping
    De Computis - Revista Española de Historia de la Contabilidad, 2018
    Co-Authors: Alan Sangster, Franco Rossi
    Abstract:

    ( Benedetto Cotrugli sulla contabilita in Partita Doppia ) In 1458, a former international merchant, Benedetto Cotrugli, wrote a 200-page manual on how to be a successful merchant: Libro de Larte dela Mercatura (Book of the Art of Trade). It included a 5-page chapter on double entry Bookkeeping, something never previously preserved in written form. The earliest known copy of this book dates from 1475. This paper provides an overview of the book and of Cotrugli; and it presents new English and Italian translations of Cotrugli’s chapter on double entry Bookkeeping. These differ from previous translations in that they are based solely on the earliest copy of Cotrugli’s book from 1475. The English translation is also the first to have been prepared by an accountant enabling the description of entries in account books to be in the form Cotrugli intended. This is the first of two contributions made by this paper. The second is that it identifies Cotrugli’s chapter as a first stage in the training of a bookkeeper, where a broad introduction to the subject is laid down as a foundation for further study or practical experience.

  • THE EARLIEST KNOWN TREATISE ON DOUBLE ENTRY Bookkeeping BY MARINO DE RAPHAELI
    Accounting Historians Journal, 2015
    Co-Authors: Alan Sangster
    Abstract:

    Historians of the origins of modern accounting have generally accepted that the earliest known instructional treatise on double entry Bookkeeping was the one published by Luca Pacioli in 1494. This...

  • The Genesis of Double Entry Bookkeeping
    The Accounting Review, 2015
    Co-Authors: Alan Sangster
    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 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.

  • Locating the source of Pacioli’s Bookkeeping treatise
    Accounting Historians Journal, 2012
    Co-Authors: Alan Sangster
    Abstract:

    ABSTRACT There is much we do not know about the early development of double entry Bookkeeping. What, for example, caused it to be used by sufficient merchants for it to be formally taught to their ...

Mark Tippett - One of the best experts on this subject based on the ideXlab platform.

  • Double Entry Bookkeeping and the Distributional Properties of a Firm's Financial Ratios
    2004
    Co-Authors: David J. Ashton, Paul V. Dunmore, Mark Tippett
    Abstract:

    It has been well known since the pioneering work of Pearson (1897) that the ratio of two random variables can have both awkward and undesirable statistical properties. Probably one of the more serious of the statistical properties is the absence of moments in the ratios of well-behaved and frequently used distributions. For example, if the components of the ratio are distributed as standard normal variates, then the ratio itself will be distributed as a Cauchy (or Student’s t density function with one degree of freedom) (Freeman, 1963, pp. 152–54). Now, the Cauchy density has no convergent moments and so, econometric estimation procedures such as the Generalised Method

  • Double Entry Bookkeeping and the Distributional Properties of a Firm's Financial Ratios
    Journal of Business Finance Accounting, 2004
    Co-Authors: David J. Ashton, Paul V. Dunmore, Mark Tippett
    Abstract:

    Our purpose here is to assess whether the innate properties of the double entry Bookkeeping system are such that financial ratios, calculated from the balance sheet summary measures implied by it, will be generated by distributional forms with non-convergent moments. Our analysis begins with a brief summary of some important analytical properties of the debt and equity components of the double entry Bookkeeping system. We then use these to determine the time series and distributional properties of the debt to equity ratio itself. Our analysis shows that even when the evolution of balance sheet summary measures like debt and equity can be described by ‘well behaved’ distributional processes, there is a distinct possibility that ratios derived from them will evolve in terms of distributional forms with non-convergent moments. We argue that this has serious implications for parameter estimation as well as the integrity of the regression and/or discriminant procedures which underscore bankruptcy and financial distress prediction models based on financial ratios derived from the double entry Bookkeeping system.

  • DOUBLE ENTRY Bookkeeping, STRUCTURAL DYNAMICS AND THE VALUE OF THE FIRM
    The British Accounting Review, 2000
    Co-Authors: Terry Cooke, Mark Tippett
    Abstract:

    Abstract We demonstrate how a parsimonious interpretation of the double entry Bookkeeping system leads to a model under which financial variables evolve in terms of a (vector) system of stochastic differential equations. The restrictions imposed by the double entry Bookkeeping system are reflected in a structural matrix which summarizes the sensitivity of instantaneous changes in the firm’s assets, liabilities, and other financial variables to the existing levels of these variables. Given this structure and some additional simplifying assumptions, we show that the ratio of the book value of debt to the book value of equity will, except under catastrophic circumstances, have a tendency to revert towards a long run ‘normal’ value—a description which conforms with the empirical evidence. Further, our analysis shows that, under certain circumstances, the market value of equity can be expressed as a linear function of the firm’s assets and liabilities. Under these same circumstances, the ratio of the market value of equity to the book value of equity also has a tendency to revert towards a long run norm. We also demonstrate a theoretical basis for identifying the circumstances under which non-linear relationships exist between a firm’s Bookkeeping summary measures and the market value of its equity.

Wendy Nelson Espeland - One of the best experts on this subject based on the ideXlab platform.

  • Accounting for Rationality: Double-Entry Bookkeeping and the Rhetoric of Economic Rationality
    American Journal of Sociology, 1991
    Co-Authors: Bruce G. Carruthers, Wendy Nelson Espeland
    Abstract:

    This article addresses claims made by Weber, Schumpeter, and Sombart concerning the importance of Double-Entry Bookkeeping. They argue that accounting played a key technical role in enhancing rationality and furthering the development of capitalism methods of production. The history of accounting methods and practices from the Middle Ages to the 19th century is surveyed in order to evaluate these arguments. Two important dimensions of accounting are discussed: the rhetorical and the technical. The argument is that, as rethoric, accounting must be understood as an attempt to convince some audience of the legitimacy of business ventures. Goody's analysis of writing and literacy is applied to the development of accounting as a technique. As a practical method, Double-Entry Bookkeeping appears to have increased "rationality," but the rhetorical side of double entry is also critical. The conclusion is that the significance of Double-Entry Bookkeeping can be appreciated only if its rhetorical and technical aspe...

Bruce G. Carruthers - One of the best experts on this subject based on the ideXlab platform.

  • Accounting for Rationality: Double-Entry Bookkeeping and the Rhetoric of Economic Rationality
    American Journal of Sociology, 1991
    Co-Authors: Bruce G. Carruthers, Wendy Nelson Espeland
    Abstract:

    This article addresses claims made by Weber, Schumpeter, and Sombart concerning the importance of Double-Entry Bookkeeping. They argue that accounting played a key technical role in enhancing rationality and furthering the development of capitalism methods of production. The history of accounting methods and practices from the Middle Ages to the 19th century is surveyed in order to evaluate these arguments. Two important dimensions of accounting are discussed: the rhetorical and the technical. The argument is that, as rethoric, accounting must be understood as an attempt to convince some audience of the legitimacy of business ventures. Goody's analysis of writing and literacy is applied to the development of accounting as a technique. As a practical method, Double-Entry Bookkeeping appears to have increased "rationality," but the rhetorical side of double entry is also critical. The conclusion is that the significance of Double-Entry Bookkeeping can be appreciated only if its rhetorical and technical aspe...

David Ellerman - One of the best experts on this subject based on the ideXlab platform.

  • On Double-Entry Bookkeeping: The Mathematical Treatment
    Accounting Education, 2014
    Co-Authors: David Ellerman
    Abstract:

    AbstractDouble-Entry Bookkeeping (DEB) implicitly uses a specific mathematical construction, the group of differences using pairs of unsigned numbers (‘T-accounts’). That construction was only formulated abstractly in mathematics in the nineteenth century, even though DEB had been used in the business world for over five centuries. Yet the connection between DEB and the group of differences (here called the ‘Pacioli group’) is still largely unknown both in mathematics and accounting. The precise mathematical treatment of DEB allows clarity on certain conceptual questions and it immediately yields the generalization of the Double-Entry method to multi-dimensional vectors typically representing the different types of property involved in an enterprise or household.

  • On Double-Entry Bookkeeping: The Mathematical Treatment
    SSRN Electronic Journal, 2014
    Co-Authors: David Ellerman
    Abstract:

    Double-Entry Bookkeeping (DEB) implicitly uses a specific mathematical construction, the group of differences using pairs of unsigned numbers ("T-accounts"). That construction was only formulated abstractly in mathematics in the 19th century — even though DEB had been used in the business world for over five centuries. Yet the connection between DEB and the group of differences (here called the "Pacioli group") is still largely unknown both in mathematics and accounting. The precise mathematical treatment of DEB allows clarity on certain conceptual questions and it immediately yields the generalization of the Double-Entry method to multi-dimensional vectors typically representing the different types of property involved in an enterprise or household.