10 interesting facts about accounting you never knew

Yes, there’s interesting facts in the world about accounting. Like how a monk invented it and there’s even a patron saint for the profession. Read on and prepared to be dazzled.

 

  • Most experts agree that modern accounting started in 15th century Italy. It was founded by an Italian mathematician called Luca Pacioli. He invented the balancing systems used in accounting to this day.

 

  • Most of the terms used in the field come from Latin. See the examples below:

 

  • Simple accounting started much earlier than this. Balances for taxes and other contributions started in temples. Someone was there to track contributions, not in money but in forms of sheep and other agricultural offerings.

 

  • There’s three official accounting agencies in Australia: CPA (Chartered Practicing Accountants), CA ANZ (Chartered Accountants Australia and New Zealand) and the IPA (Institute of Public Accountants). Anyone who works in accounting will be a member of ones of these bodies. (CoreList Australia)

 

  • Computers do most of the number crunching and aggregate the statistics people need. The accountant analyses and interprets them.

 

  • There’s such a thing as a famous accountant. Musician Mick Jagger, author John Grisham, and singer Janet Jackson studied in the field.

 

 

  • St. Matthew is the patron saint of accountants, bookkeepers and tax collectors. He was a tax collector himself before becoming one of the Twelve. Portraits of him often include a ledger.
St Matthew; apostle, evangelist and number cruncher
  • The 2017 Oscar best picture announcement was bungled by accountants. PwC is the official partner of the Academy of Arts and Sciences.

 

  • The FBI uses maths to solve crime with their 2000-strong accounting department.

 

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