Short answers, pulled from the story.
The first known accounting records were carved into clay tablets in ancient Mesotamia over five thousand years ago. These records predate the invention of the written word itself and served as foundational tools for transitioning from barter systems to complex trade networks.
Luca Pacioli published the double-entry bookkeeping system in the year 1494 through his book Summa de arithmetica. This Italian mathematician and Franciscan friar is now known as the Father of Accounting and his work remains the backbone of all modern accounting practices.
Local professional bodies in England merged to form the Institute of Chartered Accountants in England and Wales in the year 1880. This organization established the first formal requirements for entry into the field including a rigorous examination process and a code of ethics.
Financial accounting focuses on reporting an organization's financial information to external users such as investors and regulators while adhering to Generally Accepted Accounting Principles. Management accounting focuses on internal use to provide managers with data for decision-making and planning without being bound by GAAP.
Arthur Andersen was dissolved following its involvement in the Enron scandal which occurred in the early 21st century. This event marked the largest bankruptcy reorganization in American history and reduced the Big Five accounting firms to the Big Four.
The Sarbanes-Oxley Act was passed in the year 2002 following the collapse of Arthur Andersen and the Enron scandal. This legislation significantly raised criminal penalties for securities fraud and the destruction of records in federal investigations.