Giving you a
little time for
yourself

Talking Cents

December
November
October
September
August
July
June
May
April
March
February
January

Historical accountancy facts by small business accountants in Melbourne

Accountancy has a longer history than you may have perceived, so our small business accountants in Melbourne want to share some interesting accountancy facts with you.

The first book about double-entry bookkeeping was published on the 10th of November 1494 by Luca Pacioli. In his book, the Italian mathematician described keeping accounts for assets, liabilities, capital, income and expenses, just like the systems used today for business accounting in Melbourne.

Although our small business accountants in Southbank work in offices, the world’s first accountants worked for the temples, keeping track of taxes paid in sheep and agricultural produce for the religious authorities of the day. Research suggests that this occurred thousands of years ago and originated in Ancient Mesopotamia.

Finally, did you know that the many accounting terms we use today have Latin roots? For example, the word ‘debit’ means ‘he owes’ and ‘credit’ means ‘he trusts’. The word ‘accountant’ also comes from the Latin word ‘computare’, which means ‘count’.

Feel free to get in contact with our small business accountants in Melbourne today with any accountancy questions you may have.

 
Liability limited by a Scheme approved under Professional Standards Legislation