The Renaissance

and its Relation to

Accounting
By Julia Mort
Introduction
● The Renaissance is a period of rebirth characterized by an admiration of
the classical world.
○ Those who made noteworthy contributions to the era of revitalization took inspiration
from the cultures of Ancient Greece and Rome.
● Around the time the Renaissance began, Europe was in a time of crisis.
The Black Death caused many casualties within the continent and the
religious authority through the papacy was in disarray.
○ The citizens desperately wanted their nations to return to a state of greatness, so they
turned to Antiquity as their model. They believed that, if they decided to indulge in the
cultures and traditions of a time period that was so highly revered, their nations would be
revitalized (“Basic Ideas of the Renaissance”, 2015).
Francesco Petrarca
● Francesco Petrarca, otherwise known as Petrarch, was a 14th
century poet based in Florence, Italy.
● In addition to his personal contributions to literature, Petrarch
translated and recovered ancient texts.
● On a trip to Rome to accept the crown as poet laureate in 1341,
Petrarch delivered his “Coronation Oration” (“Petrarch”).
○ In his speech, he emphasized the importance of poets within the classical
world and how much happier of a time it was for those who pursued more
artistic pursuits (“Petrarch”).

● His ideology, as stated in his “Coronation Oration”, would later

represent the first manifesto for the Renaissance.
Renaissance Humanism
● Though Petrarch’s thoughts concerning the analyzation of the classical
world could be applied to the Renaissance as a whole, they had also
served as the basis of an intellectual movement: humanism.
● Humanism, as understood by those who lived during the Renaissance,
was the study of the classical world.
○ Just as Petrarch had done, Renaissance scholars who dedicated their lives to humanism
saw value in ancient texts. They believed that, by studying these texts, they would be able
to live happier and more fulfilled lives (O’Malley, 2019).
● The most defining characteristic of humanists was their ability to tactfully
communicate the wisdom they obtained through rhetoric ( O’Malley,
2019).
The Beginning of the Renaissance in Italy
● The birthplace of the Renaissance is considered to be
Florence, Italy.
○ As mentioned before, this is also where Petrarch lived. It most
likely started in this location because of Petrarch’s efforts.
● It is speculated that it started in the 14th century.
● In addition to the creation of famous works of art and
literature, there were significant developments in the
field of mathematics, science, and philosophy.
● Because it differed so heavily from the rest of Europe,
the Renaissance movement in Italy would later be called
the “Southern Renaissance” as a means of distinguishing
itself.
The Expansion of the Renaissance into Northern Europe
● The influence of the Renaissance
reached the rest of Europe in the 16th
century.
● Though it focused on the same key
elements as the Southern Renaissance
in Italy, the Northern Renaissance
differed in its approach.
○ One of the most noteworthy differences
between the two movements is their
developments in the field of art.
The Role of Geography in Art: Southern Renaissance
● Italy’s primary focus when it came to art in the Renaissance was
experimentation and the subject of the human form.
○ Trading between other countries is prevalent in Italy due to it being surrounded by the
ocean. For that reason, Italy was exposed to a wide variety of cultures and styles of
artwork. Those who were involved in the Southern Renaissance wanted to incorporate
some of the techniques that they learned from countries with whom they traded in
addition to Ancient Greek and Roman ideas.
○ When studying the human form, artists wanted to play with expressions and find ways to
place people in realistic settings.
● The artwork in the Southern Renaissance often referenced Greek and
Roman mythology (Maureen, 2019).
Examples of Southern Renaissance Art

The School of Athens, Mona Lisa, David, The Birth of Venus,

Raphael Leonardo da Michelangelo Sandro Botticelli
Vinci
The Role of Geography in Art: Northern Renaissance
● The forefront of the art in the Northern Renaissance was the Catholic
Church.
○ Northern countries in Europe were less willing to incorporate mythological themes in
their artwork because of how strictly dedicated they were to Christianity. Since they did
not engage with countries outside of Europe as much as Italy due to less trading traffic,
they were less open to new ideas (Maureen, 2019).
● Landscapes were a major part of Northern Renaissance paintings because
they highlighted the beauty of God’s creations (Maureen, 2019).
○ Painters in the Northern Renaissance carefully observed the natural environment in order
to accurately portray the details needed to correctly portray a landscape.
Examples of Northern Renaissance Art

The Last Judgment, The Four Horsemen Virgin and Child, Arnolfini Portrait,
Hieronymus Bosch of the Apocalypse, Rogier van der Jan van Eyck
Albrecht Dürer Weyden
Luca Pacioli
● Luca Pacioli was a Franciscan friar born in 1447.
○ He was a close friend of Leonardo da Vinci, who had also
produced mathematical and scientific manuscripts
alongside his artwork (source y).
● Though his occupation suggested that he was
solely focused on religion, he made sizable
contributions to the world of mathematics.
○ He published a fifteen page mathematical compendium titled
Summa de Arithmetica Geometria Proportioni et
Proportionalita in 1494 (Sangster and Scataglinibelghitar,
2010).
● In modern times, he is regarded as the father of
accounting.
The Creation of Double-Entry Bookkeeping
● Father Luca was determined to find a new method of recording financial
information. He then created double-entry bookkeeping, which is
characterized by two book entries - debits and credits - for each
transaction.
○ The beauty of double entry bookkeeping is that the debited and credited accounts for
each journal entry are balanced at the same amount. This eliminates the proneness of
making errors when journalizing more complex transactions.
● This method of documenting financial information would later be adopted
by the Medici family, known for their large banks (source y).
● His idea of double-entry bookkeeping would later become the foundation
for the field of accounting.
Why It’s Important to Study the Renaissance
● When most people think of the Renaissance, their minds only focus on
the artistic developments that were made throughout it. However, as the
discussion of Luca Pacioli proved, there is much more to be gained from
studying the Renaissance than just the art it produced.
○ Luca Pacioli’s double-entry bookkeeping is widely used to this day, It is because of his
accomplishments that accountants over the centuries have been able to effectively record
transactions.
● Even if the Renaissance had not specifically focused on an area of study
that can be pursued in present day, what was developed can still be used
as a way to track the origins.
Works Cited
“Basic Ideas of the Renaissance.” ItalianRenaissance.org, 2015, http://www.italianrenaissance.org/welcome/.

Maureen, “Difference between Northern and Southern Renaissance.” Difference Between Similar Terms and Objects, 15
May 2019,
http://www.differencebetween.net/miscellaneous/culture-miscellaneous/difference-between-orthern-and-south
ern-renaissance/.

O’Malley, John W. “Theology before the Reformation: Renaissance Humanism and Vatican II.” Theological Studies, vol.
80, no. 2, June 2019, pp. 256–270. EBSCOhost, doi:10.1177/0040563919836245.

“Petrarch.” Poets.org, Academy of American Poets, https://poets.org/poet/petrarch.

Sangster, Alan, and Giovanna Scataglinibelghitar. “Luca Pacioli: The Father of Accounting Education.” Accounting
Education, vol. 19, no. 4, Aug. 2010, pp. 423–438. EBSCOhost, doi:10.1080/09639284.2010.501955.