The Accounting Cycle: A Collection of Definitions, Processes & More

The Accounting Cycle: A Collection of Definitions, Processes & More

    Origins of the Procedures and Processes

     

    The origins of the accounting cycle can be traced to the Renaissance Era (14th – 16th century) through the works of an Italian Franciscan friar by the name of Luca Bartolomes Pacioli.

    The bookkeeping instructions were included in Fray Paciolis book The Summa, which contained 36 chapters about bookkeeping. Read more