Accounting is an integral part of the Finance process in an organisation. Do you want to know how accounting began initially?

1. © Hardik Lashkari
How Did
It
All
Start?

2. © Hardik Lashkari
Is This An Art?
Or is this may be?

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We are
the Bookkeepers.
For us,
Accounting is
the only
beautiful art

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1. When was this beautiful art born?
2. Where did the debits and credits come
from?
3. What is the language of accounting?
4. Did you know?

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Luca Pacioli
The Father of Accounting

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Luca Pacioli (1447 – 1517)
• Italian mathematician, Franciscan friar,
• First person to publish a work on the double-entry system of book-
keeping in 1494,
• He described the use of journals and ledgers in the book
He warned that a person should not go to sleep at night until the
debits equalled the credits.

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Where is ‘r’ in Debit?
For a moment, we can see
why we call CREDIT as CR.
But where’s
the ‘r’
in
Debit????????????

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Debere
Credere
Debit
Credit
In his book, Pacioli used
two Latin words

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Why do banks use them
opposite?
• Why do the banks debit our accounts to pay
any creditor?
• Why is our account credited when any money
is received in bank account?

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• In ancient times, Debit meant BAD or anything that cost to company.
• Credit meant GOOD or anything that benefitted the company.
Banks adopted this concept AS IT IS.

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Accounting Standards are the
language of Accounting
IFRS
Australia
Ind AS
India

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Did you know?
• Word “Accountant” is derived from French
word “Compter” or “Computare” which
means to count or score.
• Bubblegum was invented by Walter Diemer,
an accountant.
• “Bookkeeper” and “Bookkeeping” are the
only English words to have three letters
consecutively in a single word.

14. © Hardik Lashkari
Thank You
For
Patiently
Hearing Me.