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.