Accounting is definitely one of those careers associated with interesting principles and concepts. As an essential part of running a business, there’s a huge likelihood that you’ve applied one or two principles or concepts. But how did it all start? Do you know anything interesting about accounting?
The following facts about accounting will introduce you to something you’ve heard and hopefully help debunk the myth that accounting is all gloom.
1. The First Recorded Name in History Belonged to an Accountant
An accountant is credited for creating the first-ever written name. The supplies record was signed ‘Kushim’ and kept a record of barley supplies.
2. It’s an accountant who invented Bubble-gum
A man named Diemer who invented Bubble-gum was an accountant. In 1926, he worked as an accountant at Fleer. Interestingly, during his free time, Diemer would try out different gum recipes. During one of his experiments, he came across a recipe that resulted in less sticky gum and stretched readily.
3. It Was an Accountant that Helped Crack the Notoriously Difficult Al Capone Tax Evasion Case
Frank J. Wilson helped to solve one of the most difficult tax evasion cases in the 1920s. He had to peruse around two million documents in order to incriminate Al Capone.
4. Ancient Accountants Kept Track of Animals and Grain using Clay Tokens.
The clay tokens were geometrically shaped and helped early farming communities to track their harvest and livestock.
5. Accounting Contributed to the Creation of the First Writing Form
The previously mentioned clay tokens were the basis on which the first-ever written form (cuneiform) was built.
6. Leonardo da Vinci had to Improve His Math.
Luca Pacioli was the first person to publish detailed information about the double-entry system in accounting. Fun fact? Famous painter Leonardo da Vinci took Math lessons from him.
7. Accountants Control the Ballots for the Oscars
Don’t we all want to know whether our favorite actors and actresses get to win the Oscars? Well, we can trust the process because the votes have been in the good hands of professional accountants since 1935.
8. Income Tax Was Initially Meant to Finance a War
Isn’t it bad when temporary decisions become permanent? Moreso, when they had mysterious origins like war? The war is over Britain, time to cancel that income tax thing.
The then British Prime Minister, William Pitt, introduced income tax so that Britain could have money to finance the war between themselves and France in 1799.
9. Accountants do have a celebration day – the International Day of Accountants.
Every November 10, accountants get to celebrate, or maybe the correct word should be recognized. We hope that from now on, you will include the party’s budget in the company’s expenses.
10. Nike’s co-founder is a Certified Public Accountant
It turns out that you need to know your numbers to become a great entrepreneur, as Nike’s co-founder, Phil Knight, has shown. The best part is that he took his MBA project and made it into a profitable company – Nike.
It’s time to share this with all your friends in accounting. Celebrate them, thank them and then ask them to give you the party budget.
And if you need help with accounting work, talk to us now.