History Of International Accountants' Day And Why We Celebrate
WHAT IS INTERNATIONAL ACCOUNTING DAY?
November 10th of every year is designated as International Accounting Day. Does the sight of a ledger book scare you? That is the main reason why we have accountants to help you take care of it. Your business, school, bank, religious institution, and government wouldn’t survive without the service of an accountant. That’s why we have a day out of the year just to celebrate them for their services!
HISTORY OF INTERNATIONAL ACCOUNTING DAY
The history of accounting as an established profession dates back to several centuries ago. Records and documents originating from the Mesopotamian region traced back as far as 5,000 B.C. reveal the employment of accounting systems in the service of tracking the exchange of goods between temples. More evidence of the dominance of accounting would appear from discoveries in ancient Egypt and Babylonia, but the most comprehensive findings originate from materials belonging to the Roman empire. Information notated across innumerable archives during this era show detailed quantifications kept across areas like public revenues, private expenditures, the distribution of commodities, etc.
Since its introduction in pre-modern times, the field of accounting has undeniably developed significantly. It would experience especially robust advancements throughout the Middle Ages and the Renaissance period; International Accounting Day is celebrated on the anniversary of the publication of a critical work in the 15th century titled Summa de Arithmetica, Geometria, Proportioni et Proportionalita on November 10, 1494 by an Italian mathematician named Fra Luca Bartolomeo de Pacioli, often known simply as Luca Pacioli. The publication was focused on the double entry accounting system.
The first professional bodies for accountants were established in Scotland, Britain in 1854, they are: the Edinburgh Society of Accountants and the Glasgow Institute of Accountants and Actuaries. The profession continued to grow stronger and the American Institute of Certified Public Accountants was started in 1887.
The discipline would go on to see a sharp rise in necessity and demand in the fields of business and finance starting in the mid-19th century. The Industrial Revolution would prove to increase the number and size of companies across the world to an unprecedented degree, and it became imperative for corporations to maintain strong accounting departments to have a part in all aspects of business’ operations. Today, there is an indisputably great number of accountants all over the world. According to the Bureau of Labor reported in 2018, there were nearly 1.5 million accountants and auditors working in the United States alone!
INTERNATIONAL ACCOUNTING DAY FAQS
Is there an accountant's Day?
Yes, there is! And it’s international, too. 10th of November of every year, so give some extra praise to all the accountants in your life or on your payroll.
How do I become an international accountant?
The path to becoming an international accountant is neither easy nor fast. That said, it’s also not impossible! Your first aim should be to obtain your bachelor’s degree in accounting, then strive to receive a master’s degree in the field, and, finally, register and work to pass the Certified Public Accountant exam. After all of that, you will meet the requirements needed to be ushered into the world of international accounting! Although, this process is different in various countries.
Do accountants travel internationally?
They do. While it depends on their employer, as well as their official role in the organization they work, it is not uncommon for auditors and CPA’s to travel to different countries to carry-out their duties.
Is accounting a stressful job?
Accounting is not inherently a more stressful job than any other profession; it simply requires the same level of effort and attention to detail that is also the standard in most other professions.
