In 1846, Albert Gallatin Scholfield (1807–1901) moved from Connecticut to Providence.
He was a proponent of the double-entry bookkeeping system, but found that most merchants in town used the single-entry system.
Sensing an opportunity, in June 1846 he opened Scholfield's Commercial College in downtown Providence.
It was the first business school in the city.
Eventually the double-entry method became the dominant accounting system in town.

By 1867, the school boasted twelve faculty and an average daily attendance of 650 students.
The school taught both men and women, as well as students "young and old."
In 1846, Albert Gallatin Scholfield (1807–1901) moved from Connecticut to Providence. He was a proponent of the double-entry bookkeeping system, but found that most merchants in town used the single-entry system. Sensing an opportunity, in June 1846 he opened Scholfield's Commercial College in downtown Providence. It was the first business school in the city. Eventually the double-entry method became the dominant accounting system in town.
By 1867, the school boasted twelve faculty and an average daily attendance of 650 students. The school taught both men and women, as well as students "young and old."
Scholfield's Commercial College