The discovery of accounting practices in ancient Egypt and Babylonia would add to the body of data, but the most thorough research would start with documents from the Roman Empire. Information recorded in countless archives from this time period reveals precise quantifications maintained in a variety of domains, including state revenues, private spending, the distribution of goods, and more. Since its beginnings in pre-modern times, the field of accounting has definitely seen substantial development. It has been declared that November 10th is International Accounting Day. When you see a ledger book, does it make your mind spin? We use accountants to address each of these issues. Your company, school, bank, religious organization, and government could not operate without those diligent number crunchers. Because of this, we designate a day on the calendar to honor them.
History of Accounting Day
The profession of accounting has a long history and is widely recognized. According to records and documents from the Mesopotamian region, accounting systems were used to monitor the transaction of goods between temples as early as 5,000 B.C. It would make particularly significant strides during the Middle Ages and the Renaissance; International Accounting Day is observed on the anniversary of the publication of a significant book by an Italian mathematician in the 15th century. Beginning in the middle of the 19th century, the subject would experience a dramatic increase in demand and requirement in the business and financial sectors. Due to the tremendous growth in the number and scale of businesses during the Industrial Revolution, it became crucial for enterprises to have robust accounting departments in order to participate in all facets of business operations. It is currently one of the best-paying business majors, with a range of applications from startups to multinational enterprises. Today, there are unquestionably many people working in the field all over the world; according to a Bureau of Labor data from 2018, there were around 1.5 million accountants and auditors employed in the US alone.
Activities for World Accounting Day
- If you express your gratitude for all their hard work on one of your favorite social media platforms, consider how your favorite CPA might feel. Don’t forget to add the hashtag #InternationalAccountingDay!
- Buy a coffee for an accountant. A steaming hot cup of coffee is a well-known expression of appreciation and a terrific way to keep the accountant in your life alert and focused while going over all those figures.
- Make the job of an accountant simpler. Make sure to structure each worksheet exactly as your accounting department requests. Only one day a year is dedicated to it. They merit the effort.
5 Facts about Accountants
- Al Capone was brought down by accountants. Thanks to the persistent FBI accountants, Big Al was finally caught for tax evasion after avoiding so many previous accusations.
- History’s first words were written by an accountant. The world’s earliest extant written text was created about 5,000 years ago. It reads as follows in Sumerian cuneiform: “Over a period of 37 months, 29,086 measures of barley were received. Kushim has signed.”
- The Bible was written by accountants. St. Matthew was a tax collector before he wrote the Gospel that bears his name. Saul, another tax collector, changed his name to Paul after becoming a Christian and contributed to the writing of several New Testament writings.
- Bubble gum was created by an accountant. Walter Diemer, an accountant who worked at the Fleer chewing gum plant, experimented with several gum formulas in his free time. In 1926, he created the present bubble gum recipe and was the first to commercialize it. The only food coloring the facility possessed was pink, which is why the gum was that hue.
- The yearly Oscar vote is managed by accountants. Certified public accountants are used by the Academy of Motion Picture Arts and Sciences to tabulate all Oscar ballots and determine winners. The Academy claims that due to their reputation for neutrality and attention to detail, accountants are the best candidates for this position.
Why we Like World Accounting Day?
Accountants Can Protect Us! More than 2,000 accounting special agents are supposedly employed by the FBI, and they also aid in the capture of even the most powerful criminals. Thanks to the tireless work of FBI accountants, infamous criminal Al Capone was finally sentenced to prison for tax evasion after evading countless previous accusations. Accounting Makes the Annual Oscar Vote Possible. All Oscar ballots are tallied by certified public accountants who work for the Academy of Motion Picture Arts and Sciences. The Academy claims that due to their reputation for neutrality and attention to detail, accountants are the best candidates for this position. Accountants have access to your company’s most private information (and your life). They have access to information that you could never fully comprehend as a group and that, if handled improperly, could result in major problems. It’s vital to keep them content, and International Accounting Day presents a chance to do so!
International Accounting Day Dates