Rare medieval accountancy book to go under hammer
The rarest copy of the printed book of the 15th century, which contains information about the principles of modern accounting can go under hammer for the amount of at least $1.5 million. Luca Pacioli, a professor of mathematics and a friend of the famous Leonardo da Vinci was the author.
The rarest copy of the printed book of the 15th century, which contains information about the principles of modern accounting can go under hammer for the amount of at least $1.5 million. Luca Pacioli, a professor of mathematics and a friend of the famous Leonardo da Vinci was the author.
The book, entitled Summa de arithmetica, geometria, proportioni et proportionalita (Summary of arithmetic, geometry, proportions and proportionality), was first published in 1494. The work is a collection of everything that was known at that time about mathematics. It also served as a guide to business success.
At the time of its publication, enterprises in Italian cities already had international trade networks, which in turn required more reliable methods of management and financial control. Despite the fact that double-entry bookkeeping had already been practiced in Italy at that time, Pacioli's work presented the methodology in a completely new way.
The book also explores the methods of purchase, credit and exchange in an era of multiple currencies and complex cross-border taxes.
The identity of the seller is not disclosed. The auction will be held in London from 21 to 27 February.
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