Past Present and Future of Accounting By cbardon Dec 4, 1494 Beginning of Accounting (Double-entry jounral) by Luca Pacioli Dec 3, 1887 American Association of Public Accountants was created They issued certificates based on the people's certificates Dec 4, 1896 Certified Public Accountant (CPA) test was created Dec 4, 1934 The Securities and Exchange Commission (SEC) was created This agency works to supervise and enforce effiency in the marketplace, and to protect investors. Dec 9, 1935 The idea of GAAP is established Dec 4, 1973 Financial Accounting Standards Board (FASB) Dec 9, 1973 The international Accounting Standards committee is created Dec 4, 2002 Sarbanes-Oxley Act Was passed after Enron Scandal