8 FUN FACTS ABOUT ACCOUNTING AND ACCOUNTANTS YOU DIDN’T KNOW
Accountants are a crucial part of running a business, but let’s be real, it’s never necessarily been an industry associated with ‘excitement’ and ‘fun’. There are, however, a few fun facts that you might be surprised to learn.?Here are eight fun facts that you probably never knew about accounting and accountants.
1. THE FIRST EVER NAME RECORDED IN THE HISTORY OF OUR WORLD BELONGED TO AN ACCOUNTANT
The first written text in history, more than 5000 years old, is believed to belong to an accountant who was making a record of supplies. It was engraved on clay tablets in the Uruk period and translated to “29,086 measures of barley were received over the course of 37 months. Signed, Kushim.”
Historians agree that Kushim was an accountant and was responsible for taking stock of barley transactions in the ancient Sumerian city.
2. ACCOUNTANTS WERE THE ONLY ONES WHO COULD TAKE DOWN AL CAPONE (AMERICAN MOBSTER AND CRIME BOSS)
Al Capone was always on the radar of law enforcement agents as the Chicago crime boss kept getting away with all shades of the crime he committed.?Not until FBI accountants were recruited into the case was the government able to nail and jail the most infamous gangster in America in 1931 on account of income tax evasion.?The FBI currently employs over 2000 accountants in their quest to bust knotty criminal activities.
3. NEXT TIME YOU THINK OF THE OSCARS, THINK OF ACCOUNTANTS
Whenever you think of the Academy Awards, don’t forget to say a word of thanks to the team of accountants who spend up to 1,700 hours counting the Academy Awards ballots cast in each category by hand.
4. A SPECIAL PLACE IN THE ENGLISH LANGUAGE?
The English word “BOOKKEEPING” is the only letter with three consecutive double letters in the dictionary. Yes, you read that right.?
Do you think we’re special? Yes, we agree with you.
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5. ROOTS OF RENAISSANCE
Italian mathematician and Franciscan friar Luca Pacioli is regarded as the father of accounting. He was the first one to write and publish in detail the double-entry system of accounting. Interestingly, he was a tutor and mentor to Leonardo da Vinci, a man who would later become one of the most influential personalities of the Renaissance era.
6. BUBBLES OF INGENUITY: THE BUBBLE GUM STORY
The world has bubble gum today, all thanks to the ingenuity of an accountant.?Walter E. Diemer used to work as an accountant at the Fleer Corporation when he accidentally invented bubble gum. He had been testing gum recipes in his spare time despite being a full-time accountant for the corp.
His passion finally yielded gains when he stumbled on a unique recipe which gave a gum that was less sticky and yet stretched more easily than the standard chewing gum of the day.?Ever thought accountants were ingenious? Well, we couldn’t agree more.
7. THE CELEBRITY PROFESSION?
Accountants don’t just file tax returns or keep financial statements; a horde of them have gone ahead to carve a niche for themselves outside the confines of the profession.?You may not believe this, but some of your favourite celebrities have an accounting background they credit for helping them to take the world by storm.?From Janet Jackson to Bob Newhart to Kenny G and a lot more, accountants have proven time and again that they can do more than just being accountants.?We’ve got an amazing compilation?here?of famous people you never knew were accountants.
8. NEW YORK: THE CRADLE OF CPA LICENSURE
The first Certified Public Accountant (CPA) examination was administered in New York in 1896.?Since then, the CPA license has grown to become the highest standard of competence in accounting and among accountants globally.
THE UNCONVENTIONAL ACCOUNTING AND TAXATION FIRM?
It is difficult to gloss over the fact that accountants are one of the most talented sets of individuals out there. And with respect to entrepreneurs and their businesses, accountants are professionals that can’t be done away with.?For over twenty years,?Provision CPA?has stood out from the pack and broken free from the norm as the choice accounting and taxation firm for Canadian entrepreneurs.
We are different because we do accounting differently by providing tax, accounting, and financial strategies that make our clients the heroes of their entrepreneurial stories.?As an entrepreneur or CPA, you can learn more about?our services?here and gain invaluable insights and opportunities on how to set up your business and career for success.?