Briefly explain three features of pacioli double-entry

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Luca Pacioli's Summa, in particular the double-entry bookkeeping appendix which is now all that people mean when they refer to the Summa, has been called by many writers to be one of the most important texts in the history of accounting. Indeed, some have called it a classic in the history of capitalism.

Problem 1: Identify and briefly explain three features of Pacioli's double-entry bookkeeping appendix that can justifiably be considered majors step in the development of accounting. In addition, identify and explain two features of modern accounting that Pacioli did not mention in the Summa.

Reference no: EM132717358

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