Accounting is a world of its own. So, with that, we thought it would be fun to share 10 totally random facts about accounting that you might find interesting:
- The Ancient Accountants
Before a standard numbering system was developed, ancient accounts used clay tokens to keep track of animals and grain.
- Luca Pacioli
Luca Pacioli wrote the first book on double entry accounting in 1494. He is referred to as the father of accounting. In the book, he warned that “one should not go to sleep at night until the debits equaled the credits.”
- First CPA Exam
The state of New York gave its first Certified Public Accountant (CPA) examination in 1896.
- Christine Rose
Christine Ross was the first female CPA in the U.S., in 1899. Among Rose’s clients included wealthy women persons working in the business and fashion industries.
- John Wesley Cromwell, Jr.
The first African American CPA was John Wesley Cromwell Jr., licensed in 1921. Cromwell went on to lead a very successful career after he became the controller of Harvard University in 1930.
- Walter Diemer
Bubblegum was invented in 1928 by accountant Walter Diemer.
- Al Capone
Chicago crime boss Al Capone was finally brought down in 1931 by FBI accountants. Capone was ultimately arrested and convicted for income tax evasion.
- The Academy Awards
Accountants have controlled the ballots for the Academy Awards every year since 1935. A team of nine CPAs spent up to 1,700 hours prior to Oscar night counting the ballots cast in each category by hand.
- Accounting Hall of Fame
Located at Ohio State University, the Accounting Hall of Fame was founded in 1950 for honoring accountants who have made or are making significant contributions to the advancement of accounting.
The FBI employs more than 2,000 accounting special agents.