INTERNATIONAL ACCOUNTING DAY
On November 10th, International Accounting Day promotes the important profession of accounting and also acknowledges all the work accountants do to make businesses and organizations thrive.
Imagine for a moment you are a business owner. What would happen if you had no idea how much money you were making or how much you were spending? Your business would most likely fail. This is one reason accountants are so important for entrepreneurs. At the most basic level, accountants keep track of debits and credits. But they also do so much more:
- Generate key financial statements.
- Keep financial records up to date.
- Ensure compliance with state laws and regulations.
- Create budgets and make future projections.
- Complete the taxes every year.
Businesses aren’t the only ones who hire accountants. Individuals, non-profit groups, community organizations, governments, schools all use accountants to keep their books balanced and organized.
Successful accountants possess organization, attention to detail, time management, deductive reasoning, and critical thinking skills. For those who have these skills, accounting might be a great career choice. The demand for qualified accountants is especially high in Romania, Singapore, China, Australia, and Switzerland. In the United States, there are nearly 1.4 million accountants. In the coming years, this profession is expected to grow by 7 percent. Each year, there are 135,000 job openings for accountants and auditors.
HOW TO OBSERVE #InternationalAccountingDay
Every year accounting firms hold events to promote this profession. Businesses and other organizations recognize accountants for their hard work and dedication. Accountants also come together to share ideas and improve accounting practices. To participate:
- Learn more about accounting skills.
- Read about celebrities who trained as accountants, such as Mick Jagger, Janet Jackson, John Grisham, and Venus Williams.
- Buy an accountant coffee or take them out for lunch.
- Watch a movie about accounting, like All the Queen’s Horses or Enron: The Smartest Guys in the Room.
However you participate, share your events on social media with #InternationalAccountingDay.
INTERNATIONAL ACCOUNTING DAY HISTORY
In 1972, the San Diego Chapter of the California Society of CPAs came up with Accounting Careers Days. They hosted the event to encourage young people to pursue a career in accounting. The day is now referred to as Accounting Day and is operated by the Accounting Education Institute in the United States. In recent years, the day has also been celebrated on a global scale. International Accounting Day is held every year on November 10th. The observance commemorates the date in 1494 when Luca Bartolomeo de Pacioli, an Italian mathematician, published a work that included bookkeeping practices. Thanks to this publication, de Pacioli is considered the “Father of Accounting.”