Around 1400, Italian merchants developed double-entry bookkeeping, a revolutionary accounting method that improved financial tracking for expanding trade and consumer businesses. This system allowed for more accurate record-keeping and financial management, facilitating the growth of commerce during the Renaissance. The introduction of double-entry bookkeeping laid the groundwork for modern accounting practices and principles.

The introduction of double-entry bookkeeping in Italy around 1400 enabled more sophisticated commerce, celebrated in Renaissance writings. Poets like Francesco Petrarch and Giovanni Boccaccio explored themes of fortune and material success, reflecting the economic transformations of their time.