The correction of double entry bookkeeping errors in the late 14th century

Kuter, Mikhail; Gurskaya, Marina; Bagdasaryan, Ripsime

doi:10.3280/cca2019-001002

Cited by 5 publications

(1 citation statement)

References 23 publications

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“…Our 13-year study of the Datini archives in Prato allow to find a lot of things undescribed before. In Datini's archives alone we were able to find the early "Profit on Merchandise" account (1392), Trial Balances and the Statement for sending to the headquarters (1393) (Kuter, 2017), early examples of asset impairment and depreciation (1392-1399) (Kuter, 2018a), the formation and use of a profit reserve (Kuter, 2019a), adjusting entries (Kuter, 2019b), cash accounting (Aleinikov, 2018b), early accounting of insurance transactions (Kuter, 2019c). There is no doubt that further studies of the archives of Datini, both by the authors of this research into primary sources of medieval accounting books.…”

Section: Introductionmentioning

confidence: 99%

earlier synthetic balance sheet of Datini's Company in Avignon (1410)

Kuter

Gurskaya

Aleinikov

2020

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When studying accounting history, the use of archival sources is very important. Unfortunately, when scholars explore the genesis of accounting practice, archival sources are not often used. This paper does so, presenting a detailed explanation of features of the accounting system used by Francesco di Marco Datini’s’ company in Avignon 14091410. This accounting system used stocktaking and double entry in order to determination of the operating result and produce an analytical balance sheet. This study analyzed the Quaderno di Ragionamento (the book for drawing-up final accounts, including the financial result) with the aim of clarifying the features of this process. It also investigated the procedure used in preparing the synthetic balance sheet, a process not known previously elsewhere. This research was based on the archival material comprising of account books of the medieval merchant company of Datini, preserved in the State Archive in Prato.

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