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COST
ACCOUNTING: A HISTORY OF INNOVATION
by
Cheryl
Cunagin
and
John L.
Stancil
From the beginning of commercial activity, merchants have attempted to
determine the profitability of their activities. Rudimentary accounting
principles arose to facilitate this attempt at profit measurement. Luca
Pacioli, a Venetian of the thirteenth century is regarded as the father
of accounting. Pacioli is noted for the development of the double entry
bookkeeping system, known to first-year accounting students as debits
and credits. However, Pacioli is also credited with the origins of cost
accounting. While not focusing on the manufacturing cost aspect, Pacioli
did develop a concern for cash budgeting and variance accounting.
https://www.ucumberlands.edu/downloads/
academics/history/vol4/CunaginStancil92.html |