The Italian Luca Pacioli, recognized as The Father of accounting and book keeping was the first person to publish a work on double-entry bookkeeping, which then developed in medieval Europe. Accounting began to transition into an organized profession in the nineteenth century, with local professional bodies in England merging to form the Institute of Chartered Accountants in England and Wales in 1880.
Hindus believe that the Indian Chanakya created a work similar to a financial management book, during the period of the Maurya Empire. His book "Arthashasthra" contains few detailed aspects of maintaining books of accounts for a Sovereign State.
