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Accounting records are the earliest known writing.

Some of the oldest written texts ever discovered—dating back over 5,000 years to ancient Sumer—are not poems or laws, but bookkeeping records. An ancient Sumerian named Kushim is often cited as the first recorded name in history because he signed his clay tablets tracking barley and livestock.

The "Father of Accounting" was friends with Leonardo da Vinci.

Luca Pacioli, an Italian mathematician and friar who published the first detailed description of double-entry bookkeeping in 1494, was a close collaborator of Leonardo da Vinci. Pacioli actually taught Leonardo mathematics, and Leonardo provided the illustrations for one of Pacioli's later books.

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Accounting reform was a response to the Great Depression.

The U.S. government established major modern accounting standards and the Securities and Exchange Commission (SEC) directly because of the 1929 stock market crash. Lawmakers believed that poor financial reporting contributed to the downturn, leading to the Securities Act of 1934 which gave the SEC power to oversee auditing methods

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NAVARRO ACCOUNTING & CONSULTING, P.C.

Northridge, CA 91325

818-725-6726

Michael@NavarroAccounting.com

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