1.

The origination of the word ‘accounting’ The English word ‘accounting’ comes from the noun
‘account.’ It originated from Old French ‘acont’ meaning ‘account, reckoning or terminal
payment.’ The Old French term came from Latin ‘computus’ meaning ‘calculation.’
2. The Big Four accounting firms are Deloitte, PwC (PricewaterhouseCoopers), EY (Ernst & Young),
and KPMG.
3. Did you know? Contrary to popular belief, accountants use basic arithmetic and simple
equations while computers do most of the math. Accountants analyze and interpret results.
4. Income tax was originally introduced as a temporary measure to finance the war against France.
On 9 January 1799, British Prime Minister William Pitt the Younger introduced a measure to help
cover the cost of his country’s war with France, which was a direct tax on the citizen’s wealth
called income tax.
5. Pacioli's book not only inspired a lot of insomnia, but also a new holiday—International
Accounting Day. This holiday takes place on November 10th. Originally celebrated in San
Francisco as Accounting Career Day in 1972, the exact date was chosen in honor of Luca Pacioli,
considered the father of modern accounting, who published the first book containing double-
entry bookkeeping on Nov. 10, 1494.
6. DYK that the accounting industry is expected to grow at a rate of around 6% per year over the
next decade, according to the US Bureau of Labor Statistics?
7. Did you know? The origin of the word accountant is surprising too You might not realize it now,
but the origin of the word is pretty interesting too, and it’s changed over time. The word
accounting comes from the French word ‘computer’, meaning to count or score. This word is
derived from the Latin word ‘computare’. When translated to the English language, ‘computer’
became ‘accomptant’, but over time the p was dropped and the pronunciation was changed to
accountant.
8. Before there was a standard numbering system, accountants kept track of animal and grain with
clay tokens.
9. The words debit and credit come from the latin words debitum and creditum Both of these
words derived from Latin origins, where debit is derived from debitum (what is due), while credit
is derived from creditum (that which is entrusted).
10. DYK? The "Father of Accounting" and Italian mathematician, Luca Pacioli, was a teacher of
mathermatics, particularly arithmetic. In 1494, Pacioli travelled to Venice to publish his most
famous book –Summa de Arithmetica, Geometria, Proportioni et Proportionalita— wherein in
the geometrical part is one of the earliest printed mathematical books. Aside from that, L Pacioli
noted in this book that "a person should not go to sleep until the debits equal to credits"