A new infographic demonstrates the humble beginnings of modern accounting, beginning in 1494 when Luca Pacioli first described an emerging system of debits, credits, journals, and ledgers. It charts the difference between how accounting was done before accounting software programs and after accounting software programs.
VisiCalc and QuickBooks changed the industry immediately upon their introduction. (We admonish them for not including the “Great Plains Software” released in 1993 as a key moment in the history of accounting .)
And now we see a paradigm shift occurring as accounting applications are offered “in the cloud”. This marvelous infographic as well looks at how the accounting profession has adapted to these technology changes. A brief history of accounting is a fun visual look for any finance department.