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500th anniversary of double-entry bookkeeping to be celebrated.

Preparations are under way to celebrate the 500th anniversary of double-entry bookkeeping.

The Institute of Chartered Accountants of Scotland (ICAS) will hold a day-long celebration in Edinburgh, Scotland, on March 3, 1994, to mark the publication of a treatise by Luca Pacioli (alas, not a Scot) offering the first description of the accounting method that changed the world. As the basis of all accounting transactions to this day, Pacioli's work, Summa de Arithmetica, Geometria, Proportioni et Proportionalira, is regarded as a milestone in the development of Western civilization.

The celebration will be followed on March 4 by the Festival of Accounting, focusing on accounting technology and its impact on the profession.

The granting of the Royal Charter in Edinburgh in 1854 makes ICAS the oldest accountancy body in the world. ICAS also claims the distinction of having among its antiquarian book collection copies of both the first and second editions of Pacioli's treatise.

"We believe it is particularly appropriate for these events to be held in Edinburgh," said ICAS Vice-President Nigel Macdonald, a partner of Ernst & Young, "as we pride ourselves in being pioneers of the profession of accountancy."

For further information on the celebration and festival, contact Aileen Beattie, director, accounting and auditing, the Institute of Chartered Accountants of Scotland, 27 Queen Street, Edinburgh, EH2 1LA, Scotland. Telephone: 031 479 4853.

In the United States, the Pacioli Society will be planning pilgrimages, conferences and other special projects to mark the anniversary. For more information, contact the cochairs of the society's quincentennial committee, William L. Weis, CPA, and David E. Tinius, CPA, professors of accounting, Seattle University, Seattle, Washington 98122. (See their article, "Luca Pacioli: Renaissance Accountant," JofA, Nov.91, page 95.)
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Title Annotation:Scotland
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Sep 1, 1992
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