As many business valuation approaches rely on an accurate estimate of the cost of capital. The historically based perspectives outlined in the book “Financial Responsibility and the Rise and Fall of Nations” provide an influential and motivating history of the interplay between financial acumen, focusing on accounting capabilities and vitality and the sustainability of nations at the state level. level and company level. The calculation provides information indicating the foundation of double entry bookkeeping around 1300, located in the Middle Ages in the Italian republic such as Florence. An additional key takeaway for The Recking was that the Dutch Republic, set in the early 1600s, became the center of world trade by importing and exporting various goods from the Pacific and America. This negotiation process formed the basis for the development of modern accounting. The World Trade Center helped establish public audits and the first major