International Accounting Day: November 10th

Arjun EP

Published on: November 10, 2020

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International Accounting Day is celebrated in memory of Luca Pacioli (the father of accounting). Every business and non-business firm need accounting.

Use of Accounting

Every commerce faculty students should know about accounting and International Accounting Day.

Every business firm requires at least one accountant to manage and record financial transactions.

Non-profit organizations are service oriented organizations like Red Cross Society, Government Hospitals, Government Schools, Government College/Campus, Labour Unions, Museums, Libraries, Cultural Institutions, Sports Clubs, Political Parties, Religious Organizations, Social Clubs, NGO (non-government organization), INGO (international non-government organization), Professional Associations, religious institution and so on needs an accountant to record financial transaction.

These organizations would not survive without dedicated accountants.

That is why we should celebrate this International Accounting Day.

History of International Accounting Day

The history of accounting as an established practice dates back several eras.

Records and documents originating from the Mesopotamian region traced back as far as 5,000 B.C.

It reveals the employment of accounting systems in the service of tracking the exchange of goods between temples.

Further evidence of the prevalence of accounting would appear from discoveries in ancient Egypt and Babylonia.

But, the most comprehensive findings would first originate from materials belonging to the period of the Roman Empire.

International Accounting Day is celebrated on the anniversary of the publication of a critical work in the 15th century by an Italian mathematician Luca Pacioli.