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International Accounting
 

Double entry accounting: the history and contemporary times

Vol. 18, Iss. 46, DECEMBER 2015

Received: 28 January 2016

Accepted: 17 February 2016

Available online: 25 March 2016

Subject Heading: CHAPTER OF HISTORY

JEL Classification: 

Pages: 51-64

Veriga A.V. Donetsk State University of Management, Donetsk, Ukraine
annaveriga@gmail.com

Yurchenko M.A. Donetsk State University of Management, Donetsk, Ukraine
maffunchik@mail.ru

Importance The contemporary world is indispensable without accountancy, likewise the contemporary accounting practice is inseparable from the double entry method. The article traces back sources and premises of the double entry accounting among the most complicated ones in the accountancy history.
     Objectives The research investigates digraphism from historical perspectives, from the origination to the initial application and proliferation in various countries; shows the significance of the double entry method for the accounting science and its evolution. We also try to evaluate contribution various authors made to develop the double entry method.
     Methods Based on an analysis and synthesis, we revealed key areas of the digraphism development. We use table and graphical methods to interpret information, which allows tracing back the evolution of the double entry method in Europe and the USA and relevant trends throughout various historical periods.
     Results We unveil the substance of the double entry accounting concept and historical premises for its origination, development and application, starting from the time of Luca Pacioli till the present day. We emphasize that the double entry method implies not only scientific aspects, but also some art and craft, thus proving its unique and valueless significance. The article demonstrates the importance of digraphism and its evolution.
     Conclusions and Relevance We conclude that the double entry method still meets professional needs as a component of the accounting science and an integral part of accountancy.

Keywords: double entry, double entry accounting, digraphism, accounting, history

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