Interesting Accounting Facts Every Accountant Should Know

Accounting is known for numbers, and thus, many people perceive it to be bland and boring. While it is correct that accounting has a great deal to do with figures, that isn’t all you have to do in this field. In fact, you’d be surprised to know incredibly interesting facts about accounting. It’s no secret that people who opt for accounting are often thought to be very studious. But judging a book by its cover is never a good idea. If you’re a student or a professional employed in the domain, brace yourself! We bet that these tidbits of information will have you calling your field of expertise “Fun” once you are done reading.

1. Like chewing gum? Guess who invented it. Everyone loves to chew gum, it’s sweet, and it gives your facial muscles a workout. But have you ever wondered who came up with the brilliant idea to make the confection? It was an accountant! Back in 1928, Walter Diemer got inspired by how the American Indians used to chew resin. So he came up with his invention. At the time, he only had access to pink dye. Thus, he made the first-ever colored gum to be sold commercially. The product was ragingly successful among people of all ages. Now, that’s proof that accountants do much more than simply crunch numbers! 2. Accountants are an important part of the FBI Who would have thought that accountancy would be associated with the action-packed world of the FBI? The short answer is probably nobody. In reality, the organization currently has over 1000 accountants who make crime-solving easier. It substantiates the fact about accounting career that it will never go out of demand as dealing with numbers is a part of every industry. Plus, these FBI accountants live a life of adventure as their efforts help detectives catch criminals and make the US a safer place. 3. Your favorite celebrity might just be an accountant American stand-up comedian Bob Newhart who is well known worldwide for his clever jabs, has a pretty solid background in accountancy. Similarly, Eddie Izzard is no stranger to the subject either. These people have been in the spotlight for their artistic expression, yet most of their fans probably don’t know their accounting qualifications. So, if you’re confused about whether you should choose accountancy or live your dreams in the theatre, why not do both? 4. Accountants are no strangers to the Oscars If you think that an accountant won an Oscar, that’s not it. Rather, to reach a unanimous vote for the awards, the committee organizing the event hires an accountancy firm to handle the ballot. The company, which goes by the name of PricewaterhouseCoopers, hand-counted each vote in 2017 as well as 2018. It was despite a massive mistake that had occurred in the previous year due to human error. 5. Ancient accountancy We are all familiar with Excel sheets and accounting software. However, have you ever thought about how accounting records were maintained by the early generations? Rest assured, it had nothing to do with ink or pigment. Instead, people used clay tokens to count their livestock! Isn’t it an interesting fact about accounting? The Verdict In retrospect, it is evident that accountancy is – by no means – a limiting career field. It equips you with useful skills you can put to use at your job. At the same time, you can branch out and explore new avenues. Regardless, being an accountant gives you a worthy title that does not lose its importance even if it isn’t the most glamorous career out there.

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