Companies Based in Florence: Medici Bank, Salvatore Ferragamo Italia S.p.A., Giusto Manetti Battiloro, Airaia, Visconti, Starhotels, Proraso,

 
9781155992617: Companies Based in Florence: Medici Bank, Salvatore Ferragamo Italia S.p.A., Giusto Manetti Battiloro, Airaia, Visconti, Starhotels, Proraso,

Chapters: Medici Bank, Salvatore Ferragamo Italia S.p.A., Giusto Manetti Battiloro, Airaia, Visconti, Starhotels, Proraso,. Source: Wikipedia. Pages: 50. Not illustrated. Free updates online. Purchase includes a free trial membership in the publisher's book club where you can select from more than a million books without charge. Excerpt: The Medici Bank (1397-1494) was a financial institution created by the Medici family in Italy during the 15th century. It was the largest and most respected bank in Europe during its prime. There are some estimates that the Medici family was, for a period of time, the wealthiest family in Europe. Estimating their wealth in today's money is difficult and imprecise, considering that they owned priceless art, land, and gold. With this monetary wealth, the family acquired political power initially in Florence, and later in the wider spheres of Italy and Europe. A notable contribution to the profession of accounting was the improvement of the general ledger system through the development of the double entry system of tracking credits and debits. Giovanni di Bicci de' Medici was the first Medici to enter banking on his own, and while he became influential in the Florentine government, it was not until his son Cosimo the Elder took over in 1434 as gran maestro that the Medici became the unofficial head of state of the Florentine republic. The Medici family had long been involved in banking at a high level, maintaining their status as a respectably upper-class and notably wealthy family who derived their money from land holdings in the Mugello region towards the Apennines, north of Florence. The Medicis were not only bankers but innovators in financial accounting. At one point, the Medicis managed most of the great fortunes in the European world, from the members of royalty to merchants. There was even a time when the currency issued by the Medicis was accepted and used throughout Europe as the pre...More: http://booksllc.net/?id=6948117

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