10 Mar 11 Leonardo DaVinci And Luca Pacioli: Accounting Systems

Leonardo DaVinci And Luca Pacioli: Accounting SystemsBy: marciano guerrero .... Click author's name to view profile and articles!!!Retargeting by ChangoTweet Luca Pacioli and Leonardo DaVinci --Renaissance men-- were both mathematical geniuses. Leonardo was more inclined towards military engineering, while Luca towards abstract and pure math. When Pacioli included "Double Entry Bookkeeping" in his textbook, Summa de Aritmetica, which he published in 1494, little did he know he would change the world.Gay Couples:Leonardo DaVinci and a monk named Luca Pacioli--the inventor of Accounting (debits and credits), lived together for many years. Luca's math textbook contained the basic notions that accountants follow today: Assets equal liabilities plus owner's equity (A=L + OE). Both being college professors traveled together and stayed together at different universities.Sigmund Freud-in his study on Leonardo's homosexuality- ignored this fact. It is a pity because Freud would have brought out factual evidence rather than wild speculations based on his psychoanalytic techniques. Leonardo, being much younger than Luca, has always been described as Luca's prot??g??.Today with time perspective we can understand they probably had a domestic partnership of sorts. In 1495 they lived together in Milan and Venice. Art Historians have well documented that Leonardo was summoned to court to address charges of homosexuality against him. But since the accuser did not show up, the charges were later dropped.The diagrams and figures one sees in Luca's Summa were DaVinci's drawings. They worked together as equal partners rather than the master-apprentice relations of the times.While Leonardo's acplishments have been well chronicled and documented in our times --even Bill Gates couldn't resist owning Leonardo's original manuscripts-- Luca's contributions are less known. Like our American poser Aaron Copland, I will play a fanfare for the mon man: Luca by his ingenious explanation of Double Entry Bookkeeping system made possible international merce; opening thus the flood-gates to what today we call "The Global Economy."Economic History:In more than ten thousand years of recorded history, no one in the human race had attempted to keep business records by double entry. The Babylonians, Phoenicians, Persians, Egyptians, Greeks, Romans, and other ancient civilizations recorded their transactions on a cash basis and by a single entry; that is, business people made lists of items purchased and sold.As a result, businesses remained small enterprises, doomed to remain small since the lack of an orderly system prevented growth. Whether in papyrus, sheep-skins parchments, or bricks, all business records were endless enumerations and catalogues, which offered little discernment into measurements of profit or loss.Luca Pacioli changed all that.Yes it was a leap of imagination to design Debits (left side) and credits (right side) as an information system. You write the assets on the left side of the equation, and the claims on those assets on right side.To think that a humble discovery such as double entry bookkeeping can change the destiny of the human race challenges credibility. But given that double entry allows not only for an orderly classification of accounts, journals, and ledgers, but also for measurements of liquidity and profitability, it isn't surprising to see that Capitalism bloomed.One can well imagine Luca and Leonardo discussing symmetries, contrasts, dichotomies, dualities, binary oppositions, polarities, antithesis, and other opposites: "Physical nature exhibits all these dualities: day and night, narrow and wide, fast and slow," Luca would say, "and human nature shows dualities, too." Leonardo would reply: "We carry good and evil, love and hatred, in our spirits and bodies--or as Heraclitus loved to say: "the way up is the way down, the narrow and the wide.""What about Ecclesiastes, Leonardo, -didn't he say...? a time to be born and a time to die; a time to plant and a time to uproot?"The observation of these doubles as a system of knowledge permitted Luca to expand it into the Accounting equation where what is on the left must equal what is on the right side (Assets = Liabilities + Owner's Equity). Later, accountants realized that another duality was needed: Revenues, which are increases in owner's equity, and Expenses decreases; the difference being no other than profits or losses.With debits and credits pretty much established as a system of order, writers such as Descartes, Cervantes, Shakespeare, and Dickens imposed it in literature and philosophy by means of antithesis. Descartes' cogito ergo sum-I think, therefore I am, is the synthesis of a duality: mind and body. In A Tale of Two Citites Dickens opens his novel with a detailed set of antitheses: "It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness..."Although philosophers such as Hegel and Karl Marx attempted to discard the duality system by replacing it with a triad: thesis, antithesis, synthesis. They failed; and we can understand why: Hegel professed the State's power, while Marx munism. By now we know the chaotic results of Nazism and munism.Accounting in the Global Economy: Improving MankindBillions of human beings have populated the earth, mostly living in the shadow of survival and mediocrity, the odd, the strange, and the eccentric are the ones who make the most invaluable contributions to the improvement of the human condition. Pacioli and DaVinci --two eccentrics-- did make tangible contributions to mankind.No longer were businesses confined within frontiers, as banks, financial institutions, entrepreneurs, and corporations, bartered, exchanged, and extracted profits across frontiers. The standardization of Financial Statements followed, so that Balance Sheets, Ine Statements, and Cash Flows are read and interpreted without major impediments all over Europe. The Double entry bookkeeping system is a triumph of the mind over the chaotic activities of humans engaged in trade.Not only did Double Entry brought forth a new economic system, but also the dawn of a new way of thinking: modernity. And modernity dispelled the mists of superstition, monsters, magic, witches, ogres, dwarfs, giants, miracles, chimeras, unicorns, centaurs, sirens, and other impossible figures of the supernatural. The middle ages and feudalism yielded to modern times.With capital formation in full thrust, the needed capital for factories became available, fostering thereby the advent of the European Industrial Revolution. By 1750 Europe was already industrialized, and by 1860 (after the Civil War) America became an industrial power.Pacioli's Legacy to Mankind:The natural tendency is duality as proved by the Second Law of thermodynamics: order and chaos (enthropy). Though Nature tends to chaos, human nature imposes order; the mind invents patterns of understanding.In economic systems where Capitalism prevails, businesses --being the major employers-- offer medical coverage and retirement plans; man and woman can now enjoy the latest technologies and thereby live longer and in better health.Luca Pacioli's legacy --accounting system of double entry-- to the business world is order. It contains: Balance, wholeness, and radiance, because his system dovetails with Democracy, with Freedom to the entrepreneur; a system that coincides with Adam Smith's pillars of capitalism: Laissez-faire (free market economy), petition (Invisible Hand), and the Division of labor (the innate human propensity that creates wealth for all).This is my fanfare to the mon man, the less known and unsung hero--Luca Pacioli.Article Source: abcarticledirectoryRetired. Former investment banker, Columbia University-educated, Vietnam Vet (67-68).For the writing techniques I use, see Mary Duffy's e-book: Sentence Openers.To read my book reviews of the Classics visit my blog: Writing To LiveNote: The content of this article solely conveys the opinion of its author, marciano guerreroRetargeting by ChangoDid You Like This Article? Share It With YourFriends!Please Rate this Article 5 out of 54 out of 53 out of 52 out of 51 out of 5 Not yet Rated Click the XML Icon to Receive Free Articles About Auditing via RSS!Additional Articles From - Home Accounting AuditingWhat you need to know about Auditing from the experts.- By : john newportCulture and business proposition- By : foxhatsNavigating Miscellaneous Itemized Deductions- By : Sawyer AdamsAbout The National Association Of Enrolled Agents (NAEA)- By : Sawyer AdamsThe History Of Enrolled Agents- By : Sawyer AdamsThe Canon Sd780is Black Silver Gold Red - Very Nice Christmas Gift- By : ArticleSubmit AutoIRS Increasing Enforcement Activity- By : Sawyer AdamsDestination Military Surplus Products- By : Ali Khan5 Tips For Getting The Right Health Insurance For Your Needs- By : danica12 Quick Tips For Eye Shadow- By : Ali Khan Still Searching? Last Chance to find what you're looking for. Try using Bing Search!

5 Mar 11 8 Key Factors That Define A Good Affiliate Program

8 Key Factors That Define A Good Affiliate ProgramBy: Jeff Casmer .... Click author's name to view profile and articles!!!Retargeting by ChangoTweet Affiliate programs are a popular way to earn money online. But do you know what to search for in an affiliate program? It is important that you know what constitutes the best affiliate program before you sign up with any program.Key factors that define a good affiliate programs are as follows:1. Reputable and high quality products, services or business opportunities. If you join up an affiliate program that does not have a Montreal Canadiens jersey
good reputation, you will be wasting your money and time, and your online reputation will also be affected. An affiliate program with high reputation will also enable you to succeed because it will be easy for you to make sales.2. Good references and stability. The internet is full of scams. You will therefore need to join an affiliate program that has some good reviews and references; and the company must be stable and financially sound. If you do not research this, you risk joining an affiliate program which is a scam. 3. Pays high commissions. Various affiliate programs offer a wide range of commissions. You will need to look for an affiliate program where your earnings are high. The affiliate program's commission structure is therefore very important, and you need to be fully informed about the potential commissions you can earn for each sale before you join any affiliate program. 4. Residual income opportunity. The best affiliate program is one for which you are rewarded several times over, just from a single sale. For example, if you make a sale today, some affiliate programs will reward you if that customer makes another purchase in the future, or if they refer someone who will make a purchase. This will simply increase your earnings in the long run.5. Reliability of payment. Research on how reliable the affiliate program is at paying its affiliates. When you are in business, you will have some ongoing costs, such as marketing your business, and driving traffic to your affiliate website. You will therefore need to have constant payments to help you with the cash flow. Equally important is how frequent the program pays its affiliates. You would not want to wait months before you get paid.6. Availability of support and marketing tools to affiliates. You will need all the support and tools you can get in order for you to make sales and earn some commission. Some affiliate programs are good than others in terms of proving this support. Do your research and find an affiliate programs that offer support and tools which will make your job easier.7. A program that suits your interests or match your online business. It is important for you to choose an affiliate program that has products or services that are of interest to you, so that you will enjoy marketing them. If you already have an online business and a website; you will need to choose an affiliate program that matches or complements what you already sell on your website. Your affiliate business is a long term commitment, so you will need to make the right choice so that you sign up with a program Canadiens jersey
that has products that you will enjoy marketing.8. An affiliate program that is still growing and has a huge potential market. You must avoid signing up with a program that is not popular or is declining in its reputation. While it is important to choose an affiliate program that has been in existence for a while and is stable, avoid joining a program that has exhausted its market growth potential or is simply losing its attractiveness. You want to sign up with a program that is in high demand and will be easy for you to sell.By using the guideline presented above, you will be able to pick an affiliate program that pays you well and on time. You will also join an affiliate program with easy-to-sell products that have high reputation and are in demand; and you will get the necessary support to make it easy for you to make sales.As an affiliate, you will want to see your commission checks increasing gradually over time; and the above factors will make this possible for you, if you select the right affiliate programs.Article Source: http://www.shop-on-sale.com Jeff Casmer is an internet marketing consultant with career sales over $25,000,000. His "Top Ranked" Earn Money at Home Directory gives you all the information you need to start and prosper with your own Internet Home Based Business.Note: The content of this article solely conveys the opinion of its author, Jeff CasmerRetargeting by ChangoDid You Like This Article? Share It With YourFriends!Please Rate this Article 5 out of 54 out of 53 out of 52 out of 51 out of 5 Not yet Rated Click the XML Icon to Receive Free Articles About Affiliate Programs What Cloth Diaper Provides The Top Match For Newborns?- By : mirtagaylWhat is Affiliate Marketing and Why You Should Do It?- By : James A AndersonEarning Money Quickly With Email Marketing - True or False?- By : NHL Jersey
chad buistMoney Creating Tips For Individuals Involved In An Online Affiliate Marketing Home Business- By : Johnny BarrellGlobal Success Club And How To Make Money Online- By : Don SeanMake Cash Over The Internet With Affiliate Marketing- By : Leroy WheelerWhich Affiliate Networks To Look Out For When Promoting ?- By : Elsa Braxton Still Searching? Last Chance to find what you're looking for. Try using Bing Search!