10th November is International Accounting Day!

  • November 10, 2016

Today is International Accounting Day!

ICAS have put together some very interesting facts that we bet you didn’t know about accounting. We’ve picked out the best bits…

  1. The first book about double-entry bookkeeping was published on this day in 1494 by Italian mathematician Luca Pacioli
  1. The world’s first accountants originated in Ancient Mesopotamia (which according to Wikipedia is “a name for the area of the Tigris–Euphrates river system, in modern days roughly corresponding to most of Iraq plus Kuwait, the eastern parts of Syria, and regions along the Turkish-Syrian and Iran–Iraq borders”
  1. Many accounting terms have Latin roots. The word ‘debit’ means ‘he owes’ and ‘credit’ means ‘he trusts’.
  1. ICAS is the oldest professional body of chartered accountants in the world and was founded in 1854.
  1. Mick Jagger, Janet Jackson, Eddie Izzard, John Grisham and Robert Plant have all studied accountancy at some point in their life.
  1. There are a number of Oscar winning films that feature accountants for example, Schindler’s List, The Untouchables and The Apartment.
  1. Apparently the Romans were obsessed with accounting
  1. Josiah Wedgwood is considered as the first Cost Accountant (like gold dust these days!!)
  1. An Accountant, Walter Diemer invented bubble gum in the 1920s!
  1. Believe it or not, there is a Patron Saint of Accountants, St Matthew of Apostle, before becoming an Apostle he was a tax collector in the ancient town of Capernaum.

To view the full article from ICAS click here