Railway Accounts Department Examinations

Showing posts with label father of accounting. Show all posts
Showing posts with label father of accounting. Show all posts

Tuesday, November 10, 2020

International Accounting Day - 10th November (1494 year)

 

INTERNATIONAL ACCOUNTING DAY TIMELINE

1494
Luca’s Literature

'The Father of Accounting,' - Luca Pacioli, introduces the double-entry bookkeeping system with his publications.

1851
Adding machine invented

Charles Xavier Thomas de Colmar invents the arithmometer, triggering the shift toward computations completed by machines.

1854
First professional accountants' organization

The Institution of Accountants in Glasgow become the first official organization representing and regulating the accounting profession. ​

1973
Let’s Make This (More) Official

The Financial Accounting Standards Board (FASB) is established in the United States.

2001
The Enron scandal

Enron's bankruptcy proved to be an audit failure in American history, bringing new regulations to the accounting profession. ​