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Accounting is definitely an essential part of running a business but it’s not necessarily an industry associated with ‘fun’ or ‘excitement’. However, there are a few interesting facts that you might be surprised to learn, and we’ve pulled them together below:
1. first recorded name in history belonged to an accountant
In his bestseller, Sapiens: A Brief History of Humankind, Dr Yuval Noah Harari revealed that the first ever recorded name belonged to an accountant. As human beings began to settle down into larger kingdoms, they needed to record mathematical data, including taxes and income. As a result, it became essential that bookkeepers and accountants took on a prominent role.
The first written text in history, more than 5,000 years ago, is believed to belong to an accountant who was making a records of supplies. It read, “A total of 29,086 measures of barley were received over the course of 37 months. Signed, Kushim.”
2. Bubble-gum was invented by an accountant
Walter E. Diemer was an accountant and the inventor of bubble-gum. He was born and raised in Philadelphia, Pennsylvania, where he was working as an accountant at Fleer in 1926, when the company president sought to cut costs by making their own gum base.
3. ‘Bookkeeping’ is the only English word to contain three sets of double letters back-to-back!
4. FBI Accountants were the only ones who could bring down Al Capone (American mobster and crime boss)
Upon joining the United State’s Treasury Department Intelligence Unit in 1920, the accountant, Frank J. Wilson would earn a reputation throughout prohibition as a thorough investigator of tax returns and income. After reviewing approximately two million documents, he yielded the much-needed information to break Al Capone’s case.
5. Before a standard numbering system was created, ancient accountants kept track of animals and grain with clay tokens
6. The father of accounting, Luca Pacioli taught Leonardo da Vinci
Luca Pacioli was an Italian accountant and mathematician. He developed the field of Luca Pacioli was an Italian accountant and mathematician. He developed the field of accounting, and he is sometimes referred to as its father. He also collaborated with Leonardo da Vinci, teaching him mathematics, and may have worked with him on a book of chess strategy.
7. Accountants control the ballots for the Oscars
Interestingly, PricewaterhouseCoopers is the accountancy firm that is responsible for tallying the votes!
8. The word ‘accounting’ comes from the French ‘computer’ meaning to count or score
9. Income tax was originally introduced as a temporary measure to finance the war against France
On 9 January 1799, British Prime Minister William Pitt the Younger introduced income tax to help cover the cost of his country’s wars with France.
10. The words ‘debits’ and ‘credits’ come from the Latin words ‘debitum’ and ‘creditum’