Accounting is one of the most important areas for businesses. It is because of this field and the information it provides that key business decisions can be made. But have you ever asked yourself when, where, or why was this profession born? Throughout this entry, we will share with you the history of accounting in Mexico and the role it currently plays.
You might be interested in our entry: Why is it important for companies to have an accountant?
Accounting is a profession that has developed notoriously in our country over the years.
May 25, 1907 would be a game-changing day for Mexico, as Fernando Diez Barroso became the first person to earn an accounting degree. However, there was already a precedent of accounting being developed in the country. For instance, the Mayans’ accounting systems had been historically regarded as important legacies, and Sor Juana Inés de la Cruz had been known, among other things, for keeping the books for the San Jerónimo Convent. Her ledgers would later be found, making her the first woman to practice as an accountant, even if without a degree.
The first accounting graduates would experience some problems while trying to get a job. Accounting was still a relatively unknown profession in Mexico. Therefore, they decided to continue to study abroad and later go on to create an association in their home country aimed at implementing groundbreaking accounting systems. That association would evolve into what we now know as the Mexican Institute of Public Accountants (IMCP).
Learning about the origins of public accounting is key to understanding the benefits of one of the most important professions nowadays in Mexico and around the world.
Accounting services are fundamental for businesses. Public accountants play an indispensable role in our country. It is an area that is constantly updated, therefore experts on the field have become increasingly important for businesses, either as part of the company’s accounting department or an outsourcing firm.
At QuAdrans Law and Finance, we offer the accounting service to our clients, which helps them make better financial decisions. Our certified public accountants also provide personalized and effective advice to address any of their needs. Contact us to learn more.
