Ledger books, calculators, costing and accountability experts across the world are celebrating the birth of their darling accountancy profession.
Today is a flash back of when Luca Pacioli’s work, the guru of modern accounts, is recognized for transforming the globe. Beaming with smiles of pride, the Institute of Certified Public Accountants of Uganda (ICPAU) President Protozia Begumisa says the organization was established by an Act of Parliament with a specified mandate.
Adding that, he said one of their mandates is to regulate and maintain the standard of accountancy in Uganda by regulating the conduct of practitioners.
As it were when Pacioli published the first book about double-entry book keeping way back in November 10 1494, it is still relevant and the more reason professionals honour him by having the International Accountants Day.
His book, Summa de Arithmetica, Geometria, Proportioni et Proportionalita, portrayed the keeping accounts for assets, liabilities, capital, income, and expenses like the systems used today in balance sheets and income statements.