Accountant Day in Russia Date in the current year: November 21, 2024

Accounting is the measurement, processing, and communication of financial and non-financial information about economical entities. It can be divided into several fields (financial accounting, management accounting, tax accounting, cost accounting, external auditing, forensic accounting, political campaign accounting, auditing information systems, etc.), but most people primarily associate the term “accounting” with financial accounting that deals with financial transactions related to a business.

The history of accounting and bookkeeping (recording of financial transactions) dates back to ancient times; Mesopotamians, Iranians, Babylonians and Egyptians all used early forms of bookkeeping. However, the development of modern accounting and bookkeeping is believed to have begun in the 15th century, when Venetian merchants invented double-entry bookkeeping. This bookkeeping method was first described by Luca Pacioli in his book titled Summa de arithmetica, geometria, proportioni et proportionalita (Summary of arithmetic, geometry, proportions and proportionality).

Although accounting has evolved since Pacioli’s time, its main principles and procedures have largely remained unchanged. Today, each business needs accounting services. Most large organizations have accountants on their staff, but small business often outsource accounting rather than keep it in-house because they don’t need a full-time accountant and want to cut their expenses. The world’s largest professional services networks that provide accounting services, referred to as the Big Four, are Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers.

Given the importance of accounting for businesses and economy, it is not surprising that Russian accountants have their own professional holiday. Its date, November 21, was chosen for a reason: on this day in 1996, President Boris Yeltsin signed the Federal Law on Accounting that regulates accounting and bookkeeping activities in the Russian Federation.

On the occasion of their professional holiday, accountants receive congratulations and gifts from their co-workers and superiors, as well as participate in various professional events. According to estimates, there are over 3.5 million accountants in Russia, who are vital to the country’s economy, and congratulating them on Accountant Day is the best way to demonstrate your gratitude and appreciation.

In addition to Accountant Day, Russian accountants celebrate other professional holidays, such as Senior Accountant Day (April 21) and International Accounting Day (November 10). Both of them are unofficial as well, but rather popular within the professional community.