The word "accounting" comes from the Old French "acont" meaning "reckoning" or "payment," which in turn came from the Latin word "computus" meaning "calculation." Similarly, "accountant" comes from the Old French "compter," derived from the Latin "computare," originally written in English as "accomptant."
Ancient Accounting Records
The earliest known recorded name in history belongs to Kushim, an accountant whose name was etched on a 37-month record of 29,086 measures of barley dating back to around 3000 BC Mesopotamia. Accountants in ancient civilizations also used small geometric clay tokens to represent goods and track early commerce.
Bubble Gum and Al Capone
In 1928, 23-year-old accountant Walter Diemer accidentally invented bubble gum while testing recipes. When asked about the color, he said pink was the only food dye he had. In the 1930s, forensic accountants including Frank Wilson helped bring down mob boss Al Capone through financial crimes uncovered in accounting records.
Double-Entry Bookkeeping
In 1494, Italian mathematician Luca Pacioli published the first detailed double-entry accounting system, in which every debit has a corresponding credit. He famously said accountants should balance their books before going to sleep. This method remains the standard today.
Celebrity Accountants
Before fame, musicians like Mick Jagger, Robert Plant, and Kenny G studied accounting, as did comedian Eddie Izzard. Kenny G says his accounting degree helped him manage his finances early in his career.
Taxes and Ballots
Britain introduced income tax in 1799 to fund the Napoleonic Wars. More than 200 years later, it remains in effect. And every year, PricewaterhouseCoopers accountants spend up to 1,700 hours hand-counting Oscars ballots.
Latin Origins
The words debit and credit derive from Latin terms meaning "what is owed" (debitum) and "what is entrusted" (creditum). The FBI also entrusts over 2,000 accountants to help solve financial crimes.
