The Use of Medieval Statements for Teaching Accounting: A Comment.

Abstract The article comments on the use of fourteenth-century financial statements for teaching accounting. Historical source materials have long been recognized and appreciated as a learning tool in the social sciences. They help to explain the development of concepts, the reasons for their development, and alternative solutions to a variety of problems. Furthermore, the traditional emphasis on skill training in American accounting education left little room for and did not encourage experimentation with historical materials for educational purposes. The term "reserve" itself, is used rather loosely as an expense on the Profit and Loss Statement and as a liability on the Balance Sheet, leading to the conclusion that it means no more than an estimated amount; it is not used here as a precise technical term for an account with a specific function within a double entry framework. Although the pool of ready-to-use source materials is still somewhat restricted, there are books available containing anthologies of limited scope from which materials can be drawn for classroom use. Quite obviously there is some work to be done; but there is also an opportunity for extending the scope and for enriching the quality of accounting education.