Father of the Accounting

Have you ever heard about Luco Pacioli. He is the founder of accounting field.

Changes of Acoounting in history

Everyting began in the late 1970s Peachtree accounting Software hit the market

Big Data Age

As a result, all those improvements about accounting and data is part of the big data.

Accounting and information or data has great importance today. So, many companies, small business and online business uses the accounting and data analysis. Do you wonder how these started and who started accounting ?

Father of the Accounting

Luco Pacioli Source:Wikipdia

Have you ever heard about Luco Pacioli? He is the founder of accounting field who has lived during renaissance era. Besides, his most famous book is The Summa. because the book is explain fundamentals of accounting. Thus, he find out the question How to record business transactions?

The Answer is hidden at the system of double entry which means;

ASSETS = LIABILITIES + OWNER’S EQUİTY

Pacioli’s three principles:

  1. Cash and credit are most important
  2. Merchants should be ready mathematicitian
  3. Merchants shoudl be good bookkeepers

How changed the accounting historically ?

  • Everyting began in the late 1970s Peachtree accounting Software hit the market
  • After that, In 1980 spreedsheets spreaded to everywhere such as Microsoft Excel
  • In 1990s occured internet technologies like e-commerce, online business transaction
  • In the late 2000s smartphone technologies

Consequently, at the day, enormous data has created and its too much account with just human brain. So now a bunch of data analysis technologies like hadoop occured.

Rising Up of Big Data

We already talked about what is big data ? Please click here and read previous article to learn big data concept. As a result, all those improvements about accounting and data is part of the big data. Historically, many big data technologies developed so, firms and people began to analyze raw data. And then, they realized that , thanks to big data analytics they can decrease cost, they can maximize the price or they can effectively control their budget. This led to us variety of fields such as, business analytics, data science, machine learning, artificial intelligence, data visualization etc. Today many of us uses thic techs and generates value from raw data. If you want to interested in big data, follow my website and check it out our learning section in below.