Small Business Tips
Happy International Accounting Day
November 10 is International Accounting Day or, as it's sometimes called, International Accountant’s Day. Let's celebrate by going over the history of this holiday, as well as some of the fun facts about this profession.
The Origins of International Accounting Day
International Accounting Day is celebrated today because it marks the anniversary of the publication of the first book that provided a detailed description of double-entry bookkeeping. The book was called "Summa de Arithmetica, Geometria, Proportioni et Proportionalita" or "Everything About Arithmetic, Geometry and Proportion."
While this wasn't the first time double-entry bookkeeping was used, this is commonly seen as the first time it was ever published. The author, Luca Bartolomeo de Pacioli, was an Italian mathematician and referred to as the "The Father of Accounting and Bookkeeping." His publication is widely considered the foundation of modern-day accounting.
Thanks to MileIQ for Tax Pros, we've been lucky enough to get to know thousands of tax professionals, accountants, enrolled agents, bookkeepers and more. As a reminder, MileIQ for Tax Pros gives you a free Unlimited MileIQ account (normally a $60 value), an exclusive discount to offer clients and other valuable resources. Email taxpros@mileiq.com if you'd like to learn more.
5 Fun Facts About Account for International Accounting Day
To celebrate today, let's go over some fun facts about famous accountants and some data about the field.
1. An Accountant Invented Bubble Gum
Did you know that an accountant invented modern bubble gum? Walter Diemer was working at Fleer as an accountant and the company made gum that wasn't selling well. The gum was too sticky and easily broke. Diemer enjoyed experimenting with gum recipes and stumbled upon a hit recipe. Dubbed "Dubble Bubble," this gum was tasty, less sticky than existing gum and chewers could easily blow bubbles.
Unfortunately, Diemer didn't patent his invention but he didn't let that get him down. In his old age, he reportedly rode his large tricycle around his retirement village. He gave out bubble gum to the local children during his rides.
