The Life and Work of Luca Pacioli

Abstract

Why is Luca Pacioli called „the father of accounting”? Did he really invent the double-entry system of bookkeeping? Why can Luca Pacioli’s impact on the development of accounting be viewed as revolutionary? These are only some of the questions this research intends to answer. The aim of the research is to organize, summarize and compare the different – primary and secondary – sources that can be found on the subject in order to provide a clear understanding of the life and work of Luca Pacioli and his effect on the different kind of disciplines, especially on the field of accounting. The main goal of this research was to fill a gap as there had not been any significant writings or theses in Hungarian that would analyze this specific subject comprehensively and thoroughly. As a result of organizing, summarizing and comparing the different available sources it becomes unequivocal why Luca Pacioli’s impact is so significant and why it would be essential for both pupils and masters of accounting in Hungary and all around the world to know and honor his legacy. The original research which was written in Hungarian and which this paper is based on was published as a ‘TDK’ paper in 2020 and later as an ‘OTDK’ paper which won its author 1st prize in the 2021 ‘OTDK’ conference in Hungary in the category of economic history. The paper was later published in a study titled ‘Litera Oeconomiae III.’ in 2021.