Explain Luca Pacioli's opinion on the role of Profit

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LUCA PACIOLI ON BUSINESS PROFITS

LUCA PACIOLI ON 
BUSINESS PROFITS 
PROFITS 
NAME: 
7/28/2012 

 
 
1 
Explain Luca aioli’s opinion on the role of profit. 
Luca Pacioli published the first description of the double-entry system where rendering of 
“profits” was discussed and therefore, he is referred to as the “Father of Accounting” as well 
as “father of profitability”. Double-entry bookkeeping plays an important role in creation and 
rise of capitalism. According to him, the critical element of a successful business is the 
“profit motive”. He believed that successful businessmen should keep in mind the secular and 
spiritual aspects of their lives keeping the Almighty before their eyes as it’s the Almighty 
who insists on justice, honour and truth. Therefore,

Explain Luca Pacioli's opinion on the role of Profit

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