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THE FATHER OF ACCOUNTING: ==  The Background of accounting:All about Luca Pacioli Back in the ancient times trade was very much common and important in life as it was the main source of income for people. Where people would purchase commodities and some would sell their items for profit. In such systems people couldn't determine profit or loss generated from their business. Back on those years a merchant developed with an idea and introduced book-keeping, and became the father of accounting, his name was Luca Pacioli.(1) Luca Pacioli, was an Italian merchant, recognized as the father of accounting and book-keeping. He was the first person to publish a work on double entry book-keeping, and introduced the field in Italy. He was a mathematician and writer. Pacioli developed a system comprehensible enough for school age boys to understand; he recorded this system in a text book titled Summa de Arithmetica, Geometrica, Proportionate Proportionalita.(2) Pacioli declared that a successful merchant needs three major things: sufficient cash or credit, good keeper, and an accounting system which allows him to view his finances at a glance.(3) With this incredible idea it made people to enhance their business, and turned out to be the most incredible course for people up to date. The profession of accounting was recognized in 1896 with a law stating that the title of certified public accountant(CPA) would only be given to people who had passed state examinations and had three years of experience in the field. The creation of professional accountants came at an opportune time.(4) As we can see to this date there are many large companies and organizations that are successful. Accounting is in our daily life contributing ideals of finances that become more permanent in people's life and daily activities to. Adapting such a profession it has made people's life more easier in making money example firms make products and sells them to the consumers as we know them, they become our suppliers who sells us the products, and earn an income from it.(6) But more assured is that in this trading system it has become more profitable for the business ventures when they keep a record of the transactions being done throughout the year, it becomes a source document for reviewing in future. It is believed that the greatest profession is accounting.(7) www.Wikipedia.com