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  • Keeping records of business transactions, including summaries of assets and liabilities. The first examples of writing, and hence the first historical accounts, were found in Sumer and other areas of Mesopotamia in the 4th millennium BCE. These consisted of cuneiform characters engraved on clay tablets used for bookkeeping purposes in business transactions. From that time until the 15th century, accounting techniques were rudimentary, using basic listings, usually in chronological or geographical order, of business inputs and outputs, purchases, inventories, and other transactions all listed together. In 1494, the Franciscan Friar Luca Pacioli published the mathematics textbook Summa de arithmetica, geometrica, proportioni et proportionalita (Venice, 1494). Although this book contained mathematics as known in the 15th century, one chapter described the method used by Venetian ...

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