INTERNATIONAL ACCOUNTING DAY-NOVEMBER 10,2023
Accounting is an essential part of our lives, knowing that your job, school, bank, religious institution, as well as the government, would not survive without these people
who crunch the numbers; therefore, it is worth dedicating a day in a year to
HISTORY OF INTERNATIONAL ACCOUNTING DAY
Accounting dates back several thousands of years. Records and documents from the Mesopotamian region dating back to 5,000 B.C. show that accounting systems were employed to track goods exchange between temples. Moreover, other evidence would point to the prevalence of accounting activities in ancient Egypt and Babylonia. However, the most comprehensive findings would first originate from materials obtained for the period of the Roman Empire. These records indicate detailed quantification across areas such as revenues, private expenditures, and distribution of commodities. Throughout the Middle Ages and the Renaissance period, the field of accounting experienced tremendous advancements; hence International Accounting Day is observed during the anniversary of the publication of critical work in the 15th century by an Italian mathematician. The mid-19th century would witness a sharp rise in the necessity and demand in the fields of business and finance as the number and size of companies across the world also increased rapidly during the Industrial Revolution, thus becoming imperative for corporations to maintain strong accounting departments so get a hold of all sectors of the business operations. Today, the number of people working in accounting globally is indisputably great. According to the Bureau of Labor report in 2018, nearly 1.5 million accountants and auditors worked in the U.S. alone.
WHY INTERNATIONAL ACCOUNTING DAY IS IMPORTANT
Safety from Accountants
More than 2,000 special accounting agents are employed in the FBI, and they help take
down even the biggest of baddies. For instance, notorious gangster Al Capone finally went to jail for tax evasion after escaping several other charges, thanks to the tireless efforts of these FBI agents.
Annual Oscar Vote
All the Oscar ballots are tabulated by certified public accountants employed by the Academy
of Motion Picture Arts and Sciences, saying that accountants are ideally suited for the task owing to their reputable objectivity and attention to detail.
Know Us More Than We Do
Accountants have access to facts and figures you could never collectively understand and could pose serious trouble if handled poorly; thus, they are privy to the most intimate details of our companies and our lives. Therefore, it is safe to keep them happy, especially on this day.