Middle ages merchant handbook on business and accounting: the art of trade by Benedetto Cotrugli in 1458

Abstract

The study aims to elucidate Benedetto Cotrugli's meanings regarding business and accounting in the book Della Mercatura et del mercante perfetto, whose work consisted of discussing the characteristics that should begin both the behavioral, ethical, moral and emotional aspects of the trader, as well as of commercial transactions to be carried out, including mercantile/ accounting bookkeeping. For this purpose, the research relies mainly on the work of Cotrugli (1573), which, although it was handwritten in 1458, had its first printed version only in 1573. In addition, more recent versions were also consulted. To this end, the study permeates historical research in accounting, using the method of comparative analysis, since the discussions in Cotrugli's work are compared with historical literature, especially the Summa de Arithmetica, Geometria, Proportioni et Proportionalitá, from 1494, written by Frei Luca Pacioli. Through the analyzes, one can see Cotrugli's concern regarding the importance of the merchant knowing the business environment, keeping the bookkeeping/ accounting documents organized, possessing principles, values and expressing the Christian faith, in addition to caring for the reputation of his family nucleus. In this way, the study contributes by intertwining the discussion of Cotrugli's work with that of Pacioli, written 36 years later. As much as Cotrugli presents the bookkeeping in a more simplistic way than Pacioli, consistent with an aspect of historical research in accounting, it can be seen how Cotrugli was a precursor with regard to bookkeeping and the double entry method.