Özet:

Double Entry Accounting System and Capitalism: A Sombartian Approach in Terms of Capital Circulation There was no need for a developed accountancy during the stagnant social structure of Middle Ages and its guild order. The need for public accountancy occurred with the increase in commerce in the Mediterranean. Double entry accounting system appeared firstly because of the demands of merchants and bankers. Businesses flourished during the dawn of the new age, and capitalist organization structures are formed. This situation necessitated the development of accountancy towards profit. This commercial system depends on management rather than manual labor. Capital accumulation and double entry system started to develop simultaneously. Sombart is an economist who observes the development of double entry system along with capitalism

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