Double-entry bookkeeping was pioneered in the Jewish community of the early-medieval Middle

East,[17][18] and subsequently developed in medieval Europe,[19] and accounting split into financial
accounting and management accounting with the development of joint-stock companies. The
first work on a double-entry bookkeeping system was published in Italy, by Luca Pacioli ("Father
of Accounting").[20][21] Accounting began to transition into an organized profession in the
nineteenth century,[22] with local professional bodies in England merging to form the Institute of
Chartered Accountants in England and Wales in 1880.[23]