... modern history, so shall not be reported in as much detail. In 1549 and 1552 "Pragmáticus" was passed, which is the oldest law on accounts in Europe. These laws required every person "engaged in business in the Kingdoms of Castille: 1) To keep two accounting books, the diary and the ledger, 2) To write them in the Castilian language, 3) To follow the double-entry book-keeping system. Therefore, Spain was the first country to legislate on the use of this system of book-keeping for traders, businessmen and bankers." (1) There are several changes of importance to note that occurred during the 18th century. Firstly the Spanish economy and industrial situation began to change. Spain was still not very advanced in any area by the end of the 18th century and most of the population worked in the countryside, however there was a boom in the textiles industry and by the end of the ...

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