Business Accounting at Fengshengtai in Late Imperial China: Is There New Evidence of Double-Entry Bookkeeping?

This article analyzes the accounting treatment of sales and purchasing at Fengshengtai Company (丰盛泰号), a salt trader from Shanxi Province. We find evidence “dualled entry” bookkeeping in that all transactions were recorded twice. Crucially, each set dualled entries was two distinct accounts. For example, cash “cash flowing account” as well specialized account. thus argue that, light clues other records, system indigenous Chinese double-entry may have been developed merchants. Our study is based on Fengshengtai's surviving account books, collection primary sources spanning 1854 to 1881, recently become available scholars.