: IBM released its first business computer in 1952, and accountants were among its earliest adopters. The Digital Era: Cloud and Beyond (1990 – Present)
: Following the 1929 stock market crash, the U.S. established the Securities and Exchange Commission (SEC) in 1934, requiring publicly traded companies to file certified financial reports.
: Pacioli’s system introduced the use of journals and ledgers to balance debits and credits, a fundamental principle still used today.
: The introduction of federal income tax in 1913 caused the demand for Certified Public Accountants (CPAs) to grow exponentially.
: In 1494, Italian monk and mathematician Luca Pacioli published Summa de Arithmetica , the first work to codify the double-entry bookkeeping system.