10 interesting facts about Accounting

10 interesting facts about Accounting


As one of the world’s most respected professions, accounting has a reputation for being a little mundane at times. Although, we’ll have you know that we completely disagree with the stereotype. It is a great career choice to be had, following your completion of an IIE Bachelor of Commerce in Accounting with business management and business skills as core disciplines. In case that’s not enough to go on, here are ten interesting facts about this fascinating career path.

  1. The term ‘accountant’ stems from ‘computer’, a French word meaning to count or score.
  2. It has been said that accounting originated from the Romans. They were obsessed with keeping count of their grains and how many resources they had in their workshops. Little did they know that it would prove so handy in the centuries to come.
  3. When it comes to auditing, we have the Egyptians to thank for this. The earliest signs of recorded auditing systems belong to them.
  4. The ‘Father of Modern Accounting’ was Fra Luca Bartolomeo de Pacioli. The Italian earned this title through his 27-page book on double-entry accounting.
  5. Not all who study accounting land up as accountants. A few celebrities packed away their calculators for bright lights and fame. These include Janet Jackson, Kenny G and Mick Jagger. Author John Grisham also studied to become an accountant. So, if it doesn’t work out, there are always more options to consider…
  6. In the USA, accountants make up more than 1 400 special agents in the FBI. This has been accredited to their strong problem-solving abilities.
  7. The Oscars would never happen without accountants! Every year since 1935, a team of accountants spend more than 1 700 hours counting all academy votes by hand. Members of the employed firm always deliver these results on stage as the show unfolds. The firm responsible for film’s biggest night each year? None other than PricewaterhouseCoopers.
  8. The oldest professional accounting body in the world is ICAS, founded in 1854, by Royal Charter in Scotland.
  9. Accountants have been good for more than just working the numbers. In fact, bubblegum was invented by an accountant in 1928. Although accounting was his first love, Walter Dimer used curiosity and his sweet tooth to invent an everyday treat.
  10. Accounting is finally going to get its close-up on the big screen. Ben Affleck stars in The Accountant, which is going to be released later on this year.
Bachelor of Commerce in Accounting
"If I wasn't singing, I'd probably be, probably an accountant."
- Janet Jackson

The Independent Institute of Education offers aspiring accountants a solid start to the career they’ve always dreamed of through Varsity College. To find out more please visit, www.varsitycollege.co.za!

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