Many civilizations developed accounting theories based on the specific needs in their societies. One of those developments was the double entry bookkeeping system. Some of the factors that contributed to the creation of double entry bookkeeping were techniques in math, the invention of coins and money as a medium of exchange, the introduction of paper, the development of a banking system, and various economic conditions that required a system of proper recording. This thesis will analyze the double entry bookkeeping system and its benefits. It will also discuss the differences between the complex capitalistic structure we operate in today with that of the business environment during the Renaissance. It will then evaluate how the double entry bookkeeping system still has relevance in today's world of accounting.
Libina, Regina, "The Development of Double Entry Bookkeeping and its Relevance in Today's Business Environment" (2005). Honors College Theses. 23.