Seven Interesting Facts About Accounting

1. There is a “father of accounting” and his name is: Luca Bartolomeo de Pacioli. On November 10th, 1494 he published Summa de Arithmetica, Geometria, Proportioni et Proportionalita (Everything About Arithmetic, Geometry and Proportion). It contained an essay about double-entry bookkeeping.

2. Who knew there were so many celebrity accountants?

3. Most movies involve lawyers or government officials. Perhaps they should consider accountants. Here is a list of the ten biggest frauds in recent US history. (If you do the math, collectively the fraud totals nearly a trillion dollars.)

4. To cut production or reduce prices? Did you know a potter can be credited with taking accounting into the Industrial Age.

5. “Bean counters“, it turns out, played an important role in ancient Greek politics. Read CFO’s article on the term’s history and take it in stride should someone mistakenly use the term in a derogatory slant.

6. There is a slang accounting term that unites the Return of The Jedi, My Big Fat Greek Wedding, and Spider-Man movies. Just remember to avoid “monkey points”.

7. Most students of American history know the greatest accounting story of all time to be that of how Al Capone was not imprisoned for the life-and-death crimes he committed but rather for tax evasion.

Happy International Accounting Day from SkyStem!