In 1494, Luca Pacioli was the first to describe the accounting statements that he called the “bilancio del libro” and “summa summarum.” While the “bilancio del libro,” or trial balance, never raised doubts as to its usefulness, the obscure interpretation of the summa summarum in the treatise and the inclusion of both statements by Pacioli led to varied perceptions of the value and meaning of this section of his treatise. This paper presents the results of many years of research in the archives of the merchant of Prato, Francesco Datini's companies between 1363 and 1410. It reports the finding of the earliest known example of a “bilancio del libro” inside the Ledger in 1395 when, in one accounting cycle, the company simultaneously formed both documents. The bilancio del libro served as a trial balance and the summa summarum was used as a statement to be transmitted to the head office. The research method employed was logical and analytical modeling.

This article analyses the earliest known use of reserve accounting in the late fourteenth century. It reveals the dual purpose of this reserve, the entries made, including those made when the reserve was utilized and when the remainder was written-back to be distributed to the owners in the following accounting period. The research method is archival, using logical–analytical modelling of a merchant’s accounting records from 1392 to 1400. It finds that a reserve was initially an estimate of costs that had been incurred the amount of which was unclear, and that it was then extended to act as a suspense account to balance the ledger when errors in the double entries could not be identified. In doing so, this study also reveals changes made in how the entries were made to the reserve as bookkeepers sought more efficient ways to make them.

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The purpose of the article is to analyze the characteristic features of the Enlightenment in Russian accounting in relation to the activity of its outstanding representative Alexander Galagan, who followed the motto, proclaimed in the essay “An Answer to the Question: What is Enlightenment?” by Immanuel Kant, “Sapere aude!” (Dare to know!). For the first time in the English language literature, Galagan is spoken about not only as a theorist but as an accounting historian and a teacher. A detailed description of his works and views is presented. The article’s attention is focused on Galagan’s main aim: improving the status of accounting as a science. Following the results of the research, the following hypothesis has been advanced: which period of time should be regarded in Russian accounting as the Enlightenment? It has also been explained why Alexander Galagan can be considered as a model of Enlightenment.

This paper investigates impairment and depreciation accounting in the 13th to 15th century. It finds that the first known instance of impairment accounting was in 1321, while for depreciation, it was 1399 not, as has previously been claimed, 1299. The study demonstrates the difference in approach at that time between the two forms of adjustment and shows that impairment was the original form of adjustment for reduction in asset values, a form that was applied in situations where physical assets had been lost, or deteriorated, or devalued over the reporting period. In contrast, depreciation was algorithmic, linked to a time-based straight-line depreciation charge equivalent to 10 percent per annum. These findings not only relocate recognition of the emergence of depreciation provisions to the end of the 14th century but, also, from France to Spain. However, in both cases, in Italian firms with Italian accountants.