Video essay on Luca Pacioli
By Won Gyu Lee
ACCTG 211
Due: 09/03/2015
Luca Pacioli was a monk, a scholar, a mathematician, and an accountant. He is known as
the "Father of Accounting and Bookkeeping". The works that he publish and accounting methods
he created are still being used from the renaissance period to today’s businesses and accountings.
The accounting process that Luca Pacioli helps keep accurate account of profit and liability.
Luca Pacioli was born to a poor family in Sansepolcro, Tuscany. He grew up only
receiving simple education in regards to mathematics as a child. It only later in life that he found
his calling of mathematics. Due to the lack of distribution of educational, Luca Pacioli had to
study under the studio of Della Francesca in Sansepolcro where he further his education on
mathematics. Through learning mathematic that Luca Pacioli decided to make mathematic used
for practical use. It was through Della Frances that he found employment by a wealthy merchant
by the name of Antonio Rompiasi in Venice to become the tutor of Antonio Rompiasi’s three
children. Under the service of Anotonio Rompiasi, Luca Pacioli taught, published his books and
further his education on mathematics under Domenico Bragadino. In Venice, Luca Pacioli was
able to establish connection to known members of society, along with other known
mathematician.
It is later in life that Luca Pacioli become a monk under the Franciscan Order, that Pacioli
was told by the pope to bring his work to the market place of the common people, so that
common people could use his knowledge. Pacioli published his book the “Suma” in regard to
algebra and use of mathematics. It was in the book that Luca Pacioli introduce the double entry
book keeping of accounting. This double entry method was a revolutionary way in regard to
accurate account keeping due to the accurate keeping method. Luca Pacioli created a formula for
account keeping that can be used by everyone, that formula is “Asset = Liability + Owner’s
equity”. The method of the double entry book keeping show the accurate way of showing the
gain and lost in an account along with the entry of credit and debit. Luca Pacioli method and
formula of double entry account keeping is still being use widely today in the business world.
Luca Pacioli became a well-known in his, he was so popular that during his lectures the
room will always be full. One of Luca Pacioli’s well known student is Leonardo da Vinci.
Pacioli taught Da Vinci in regarding to mathematics while Da Vinci taught Pacioli Proportions
and art. The two worked together on establishing the divine proportion, the golden ration with
mathematic of all shapes. One of the well-known work by Leonardo da Vinci, “The Last Supper”
makes use the divine through the sitting of the disciples along with the figures in the painting.
The Last year of Luca Pacioli and how he died is not well known. What is known is his
work and dedication to mathematic and accounting that revolutionized the word. In today’s
world, his name is not well known, but his work is used throughout our everyday life. In all
transactions and businesses, Luca Pacioli’s work can be felt to this day.