![]() We refer to Luca Pacioli as ‘the father of Accounting’ thanks to his exploits. This advancement revolutionised how merchants kept track of incomings and outgoings. In the late 15th century, a visionary thinker and mathematician named Luca Pacioli introduced the double-entry bookkeeping method. The information recorded in countless archives from this time reveals precise calculations relating to state revenues, private citizens' spending, the distribution of goods, and more.Ī key development in the history of accounting comes from Renaissance Italy. ![]() ![]() The discovery of accounting practices in ancient Egypt and Babylonia further adds to the body of data, but the most extensive research can be found in documents from the Roman empire. The history of accounting as a recognised profession goes back thousands of years.Īccording to records and documents from the Mesopotamian region, accounting systems were used to keep track of the exchange of products between temples as far back as 5,000 B.C. Read on to learn more about the journey of accounting. Beyond showing love for accountants, it’s a time to show appreciation for accounting in general, as a profession, as well as the processes and technology involved in managing finances and compliance around the world. Get involved with any trending hashtags on social media, share a little appreciation post, and look at what others are doing to gain some inspiration. Take the time to learn the history of the profession that makes the world go round.įrom banks and governments to businesses of every shape and size, accountants take care of the balance sheets and tax forms, and everything in between, often saving clients from the dreaded ledger.Ĭelebrate International Accounting Day by showing a little love to your account if you are an individual who employs an accountant, or showing a little love to yourself if you are an accountant. This year, don’t let International Accounting Day, or International Accountants Day, pass you by. Each year, on November 10th, the world shares a little love for the number crunchers and those who’ve achieved mastery of the spreadsheet.
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