Luca Pacioli as Father of All Accounting - Essay Example

Pacioli used his Christianity attributes to incorporate them into the finance industries. I find his Christianity perception of things as a major input as he is seen to believe in number mysticism that claims God owns all numbers. It also means that since God created all figures, they are then his direct words. Summa, one of the works he wrote, brings out the full understanding of double-entry bookkeeping and as well explains how accounting is a part of good accounting business practice.RelevanceHis work has contributed greatly to the contemporary world of accounting as most of the work, especially bookkeeping, is still used.

In addition, some major terms used then such as debit and credit have not had any modification in the more than 500 years since their invention. In addition, his conceptual framework comprised of the journal, the memorandum, and the ledger is still essential in the modern accounting field.ReliabilityMost modern accounting field concepts rely on his works such as summa, which contains the true and fair view, stability, trustworthiness, significance, materiality, understandability, full disclosure, and materiality in accounting practices.

His trend in displaying accounting figures by the use of charts and graphs enables the modern world to have ideas on how to communicate figures in a more understandable way. ConclusionIn conclusion, I would say that Pacioli, just as his “father of all accounting” depict, is indeed a great figure in the accounting world. If it were not for his understanding and his contribution, even if he did not invent the bookkeeping method, one cannot imagine how it would have turned out. Also, his books have helped deliver information from centuries ago to the modern world, which has played a significant role and will continue to play long from now.