The 5 Fun Facts About Accounting That You Should Be Aware Of
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.
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.
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!
10th November- the accountant’s 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.
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.
