The contribution of fair value accounting to the global financial crisis has, for example, been discussed, and existing rules have been subjected to academic scrutiny and impact evaluations.5 3  Pacioli’s ‘Summa de arithmetica, geometria, proportioni et proportionalita’ is a comprehensive summary of Rennaissance mathematics. The book was written in the Italian vernacular, which meant it could be widely read.
See Luca Pacioli - Wikipedia and Double-entry bookkeeping - Wikipedia. For historical details see Ovunda (2015). 4 See Fleischman and Tyson (1993). The authors refute the older opinion that cost accounting developed only in late 19th century. Similar to double-entry bookkeeping, the process was evolutionary, starting with the work of practitioners and leading to formal publications only at later stage.