10 Fun Accounting Facts You Probably Did Not Know

Accounting has not always been what it is today. In fact, it has a very rich history dating back to before the ancient Romans. It is obvious that record keeping is very important to the survival of businesses and trading. Here is a brief history full of fun facts on how bookkeeping came to be what it is today.

10 Accounting Facts

  1. The word “accountant” originated from the French word “compter” which in English means “to count or score.”
  2. The ancient Romans obsessed over counting. The military bases counted everything from how much grain they had in their stores to how many nails they had in their workshops.
  3. The first double-entry accounting book was published in 1494 by a man named friar Luca Bartolomeo de Pacioli, who was an Italian mathematician. Even though this type of accounting had been around for centuries, he has been dubbed “The Father of Modern Accounting”.
  4. The first CPA (certified public accountant) exam was given in New York in 1896.
  5. An accountant invented bubble gum in 1928.
  6. J.P. Morgan, Phil Knight and John D. Rockefeller began their careers as bookkeepers.
  7. There are more than 1,400 accountants in the FBI.
  8. Al Capone was arrested and convicted for tax evasion with the help of FBI accountants.
  9. Many celebrities began their careers as accountants including Jazz musician Kenny G and comedian Bob Newhart. Other celebrities who studied accounting include Janet Jackson, Mick Jagger and John Grisham.
  10. Since 1935, CPA’s spend over 1,700 hours counting the Academy Award ballots by hand each year. Two of these CPA’s make an appearance during the live broadcast.

Accounting Services with Remote Quality Bookkeeping

There you have it. Many interesting facts on how accounting became what it is today. If you are a small business owner and are in need of accounting and bookkeeping services, call Remote Quality Bookkeeping today.

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