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Accountant Day is fast approaching.

November 10 is the day we accountants commemorate a top 25 event in the world’s history–publishing the first book on accounting.

On November 10, 1494, volume 2 of Summa de Arithmetica, Geometria, Proportioni et Proportionalita (Everything About Arithmetic, Geometry and Proportion) was published. It is in volume 2 of the Summa that Luca Pacioli included a description of the bookkeeping/accounting system of Venice. In honor of this contribution, Pacioli has carried for centuries the title of Father of Accounting.

This year, I’ve decided to exhibit a collection of pencil stubs.

Pic credit – Heather, at A Penchant for Paper

Debit and credit – – David Albrecht

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Today is Accountant Day (aka Accounting Day).  In the hopes of coming up with something clever enough to get linked to from Going Concern and RTed on Twitter, I queried a few dozen accounting notables including professors, bloggers, journalists, regulators and Top 100 Most Influential People.

How do you intend to celebrate Accountant Day on November 10?

At least Paul Bahnson (professor at Boise State, Accounting Today columnist, and member of the 2011 Top 100 list) was honest, “I wasn’t even aware that there was any such thing as Accountant Day.”

Denny Beresford, former Chairman of the FASB, is going to work today.  Ugh.  “I’ll be attending the PCAOB Standing Advisory Group meeting in DC in the morning, flying and driving home to Athens, GA in the afternoon, and participating in a corporate board meeting in Seoul, South Korea by phone that evening.”  Denny is still working off the bills from his college toga parties.

Professors Bahnson and Ed Ketz (Penn State professor and Grumpy Old Accountants blogger), like most accountants, really know how to cut lose. Bahnson said, “I’m thinking I might put up an entry in class where the debits don’t equal the credits (on purpose!) just to celebrate.”  Ketz said, “I’m giving an exam on currency forwards, foreign translation, and options as fair value and cash flow hedges.  Should be fun.”

Ed Scribner (accounting department Head at New Mexico State University and  Funniest Accounting Professor in America), has a day long program planned:

  • Dr. John Loveland will be delivering his special address entitled, “Accountants – You Can’t Do Without Them, But I’d Certainly Like to Try.”
  • Dr. David Boje will be telling a story entitled, “Interesting Accountants I Have Known.”  (This session will be brief.)
  • Dr. Carl Enomoto will be explaining why accountants cannot have personality conflicts, by definition.
  • Dr. Janet Green will be presenting favorite bean recipes from the kitchens of HRTM.

Jim Peterson (blogger at re:Balance and audit theorist) will propose new wording for the auditor opinion:

“Having performed such calendar-reading tests as we deemed reasonable in the circumstances, it is our opinion that, in accordance with generally accepted calendar principles, Accountants’ Day is fairly likely to be observed on Thursday, October 10, 2011.

“Third parties are advised, however, that our opinion is intended for use only by those with whom we are in privity, and that they should perform such other or further due diligence as they may require or deem suitable.”

Hey Jim, very funny.

Sam Antar, the most creative accountant of his generation, (as well as convicted felon, former CFO at Crazy Eddie’s and now blogger at White Collar Fraud), says,

I will be giving thanks to Green Mountain Coffee Roasters and its auditors at PricewaterhouseCoopers. Their antics have provided me with fresh materialfor teaching how to find accounting irregularities in plain sight.

The most interesting party plans come from the regulators:  James Kroeker (SEC), Leslie Seidman (FASB), Hans Hoogervorst (IASB).  They chose not to respond to my invitation to comment, so I’m just going to make stuff up.

Hoogervorst suggests that on Accounting Day debits and credits should be optional and used only according to professional judgment.  Seidman exposed the idea of debits and credits switching sides.  Henceforth, credits are now to be located on the left side.  Kroeker is to issue a Convergence Roadmap to a party at his house.

How are you celebrating on this day?  Leave details in the comment section below.

Debit and credit – – David Albrecht

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Accountant Day is fast approaching.

"The Bookkeeper," by Norman Rockwell


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accountantdaylargeIt is still November 10 up here in North Dakota.  That means it is still Accountant’s Day!

Did you get a chance to celebrate?  Professor Ed Scribner at New Mexico State University reminded his accounting theory students, and one brought a cake to class.  I’m on a diet, but I would break it for a slice of Accountant Day cake.

How did I celebrate?  I walked around campus reciting the debiti-credit cadence.  You don’t know what that is?  Instead of walking and saying, “a-left (pause) a-left (pause) a-left right left (pause)”, you say, “debit (pause) debit (pause) debit credit debit (pause).  I also tested students taking my courses on the finer points of accounting.   I’ll bet they are celebrating tonight.

As explained in a previous blog post, on November 10, 1494, volume 2 of Summa de Arithmetica, Geometria, Proportioni et Proportionalita (Everything About Arithmetic, Geometry and Proportion) was published.  It is in volume 2 of the Summa that Luca Pacioli included a description of the bookkeeping/accounting system of Venice.

Who says I don’t know how to have fun?  On Accountant’s Day I’m the life of the party.

accountantsday2009Now, back to the party.

Debit and credit – – David Albrecht

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I don’t know where you were last month when Accounting Day, or Accountant Day, came around. I had a blog post ready to publish, but forgot to press the correct button. Never-the-less, I celebrated it. With chocolate and diet coke.

Is it true that chocolate and diet coke (or diet pepsi) have replaced pretzels and beer as number one staples in an accountant’s road diet.

accountantdaylarge

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