Modern-finance-v08

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08
Chapter 1: Why Modern Finance is Key to Your Business Success
09
Your Complete Guide to Modern Finance
inance systems have evolved from foundational bookkeeping 
concepts developed by Venice’s 
Luca Pacioli
in 1494. Pacioli’s 
published work defined double entry accounting, and he included 
concepts and definitions for ledgers, assets, receivables, inventories, 
liabilities, capital, income and expenses. Perhaps because he was also 
a religious cleric, he discussed compliance and ethics for finance 
professionals, including his advice to not go to sleep each day until 
debits equaled credits.
The principles Pacioli developed over 500 years ago—two years after 
Christopher Columbus first sailed to the western hemisphere—defined 
the legacy transactional financial systems developed in the last 
century. It was a great match that married a 15th century book with 
20th century technology.
Then the landscape changed dramatically and suddenly early in this 
century. The roughly parallel agility and efficiency curves began to 
diverge exponentially.
Rate and Pace of Change
Innovation
Regulations
Competition
IT Infrastructure
Business
Processes
Business
Resources
Quote: Finance Quote 01 Goes Here
Luca Pacioli
Born: c. 1447, Sansepolcro,
Republic of Florence
Died: 1517 (aged 70), Sansepolcro, 
Republic of Florence
Citizenship: Florentine
Occupation: Friar, mathematician, writer
Known for: Summa de arithmetica, geometria. 
Proportioni et proportionalita (Venice 1494), De divina 
proportione, double-entry bookkeeping
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Republic of Florence
Coat of arms

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MODERN CLOUD