The accounting profession dates back to 1494 when Luca Pacioli was the first to describe the system of debits, credits, journals and ledgers. The famous Leonardo da Vinci was one of Pacioli’s students. In 2010, 1,216,900 accountants were employed. The profession, which boasts a median annual salary of $61,690, is expected to grow 16 percent over the coming years.
Computer programs such as VisiCalc (1978), Quickbooks (1998) and SaaS (software as a service) have forever changed the profession. Before these types of programs, entries were done manually and small mistakes could mean hours of recalculation and lost money. These programs have lowered the margin for error, made mistakes easy to find and correct, and simply got the job done faster.
Today’s accountant has become a business consultant rather than a mathematical tool. They are expected to recommend best-practices to management and suggest ways to reduce costs while improving profit. To learn more about how the profession has changed due to technology, check out the infographic below.