Ⅰ 1994 is a commemorable year for accounting aca demies and practitioners all over the world. They hold in high esteem to celebrate the 500th anniversary of the publication of L. Pacioli’s epoch marking work Particularization of Computation and Recordation (Bookkeeping Theory). L. Pacioli has gone down in history as the p(?)oneer in the development of the modern accounting. They hold in high esteem to celebrate the 500th anniversary of the publication of L. Pacioli’s epoch marking work Particularization of Computation and Recordation (Bookkeeping Theory). L. Pacioli has gone down in history as the p (?) oneer in the development of the modern accounting.