On the heels of Pacioli!

Posted by & filed under Accounting Information Systems, Accounting Principles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Intermediate Accounting, Managerial Accounting.

Jacob Fugger was a Renaissance-era banker and industrialist from the German city of Augsburg. At the time of his death in 1525, his fortune equaled nearly 2 percent of Europe’s total economy.

Questions:
1. According to the article, there is much to learn about how Fugger built his riches. Why?
2. What were some of the shortcuts to wealth for Fugger?
3. What types of accounting practices did Fugger adopt, that are still part of the profession today?

Source:
Lozada, C. (2015). He remade capitalism, religion and history. You’ve probably never heard of him. The Washington Post, Aug. 6 (Retrievable online at http://www.washingtonpost.com/news/book-party/wp/2015/08/06/he-remade-capitalism-religion-and-history-youve-probably-never-heard-of-him/?hpid=z3)
Fugger