The 5 Fun Facts About Accounting That You Should Be Aware Of

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The 5 Fun Facts About Accounting That You Should
Be Aware Of
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World-famous musicians who were once
accountants Many of you might not be knowing
this surprising fact about our very own rockstars
whom we have listened to and adored all these
years. Mick Jagger, the founder member of the
band Rolling Stones, and Robert Plant, the lead
vocalist of Led Zeppelin, were both pursuing the
accountancy discipline before they made it big in
their music careers.
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Accounting was used in ancient civilizations The
whole procedure related to accounting is not
something new that we are learning today. It
existed even during the ancient civilizations
dating back to medieval times. In medieval
Europe, Egyptians were well-acquainted with
auditing systems and even double-entry
bookkeeping systems to maintain and keep track of
their trades. And there is strong evidence to
support this.
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Accountants used clay tokens previously This is
another astounding fact that is associated with
accounting. In ancient days, before any standard
numeric system was established, barter trade was
prevalent among tribes and civilizations. The
accountants of those days used to keep track of
grains and livestock with the help of small clay
tokens. Hence, there was no need for any CPA in
Beverly Hills for that!
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10th November- the accountants day We all have
specific dates of the year when we celebrate
particular days. We have days dedicated to
grandparents, fathers, mothers, and many more
things that may be tangible or intangible.
Similarly, accountants also have their specific
day! November 10 is the day that the whole world
celebrates as International Accounting Day.
CPAs around the world also celebrate this
particular day, let alone a CPA in Beverly Hills.
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Debit and credit are Latin terms Debit and
credit happen to be the two most used terms in
the accountancy discipline. But did you know that
both of these words originated from Latin? Well,
debitum is the Latin version of debit which
means what is due, while creditum is the
Latin version of credit which means loan. With
time and usage, both of these terms paved their
way and stand today as the two main words
defining accountancy.
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Thank You