Accounting Quotes

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  • From the Autobiography of Ben Franklin:

In 1733 I sent one of my journeymen to Charleston, South Carolina, where a printer was wanting. I furnish'd him with a press and letters, on an agreement of partnership, by which I was to receive one-third of the profits of the business, paying one-third of the expense. He was a man of learning, and honest but ignorant in matters of account; and, tho' he sometimes made me remittances, I could get no account from him, nor any satisfactory state of our partnership while he lived. On his decease, the business was continued by his widow, who, being born and bred in Holland, where, as I have been inform'd, the knowledge of accounts makes a part of female education, she not only sent me as clear a state as she could find of the transactions past, but continued to account with the greatest regularity and exactness every quarter afterwards, and managed the business with such success, that she not only brought up reputably a family of children, but, at the expiration of the term, was able to purchase of me the printing-house, and establish her son in it. I mention this affair chiefly for the sake of recommending that branch of education for our young females, as likely to be of more use to them and their children, in case of widowhood, than either music or dancing, by preserving them from losses by imposition of crafty men, and enabling them to continue, perhaps, a profitable mercantile house, with establish'd correspondence, till a son is grown up fit to undertake and go on with it, to the lasting advantage and enriching of the family.

  • From Wilhelm Meister’s Apprenticeship by J.W. von Goethe (If Goethe thinks accounting is cool, it has to be)

"Away with it, to the fire with it!” cried Werner. “The invention does not deserve the smallest praise: that affair has plagued me enough already, and drawn upon yourself your father’s wrath. The verses may be altogether beautiful; but the meaning of them is fundamentally false. I still recollect your Commerce personified; a shrivelled, wretched-looking sibyl she was. I suppose you picked up the image of her from some miserable huckster’s shop. At that time, you had no true idea at all of trade; whilst I could not think of any man whose spirit was, or needed to be, more enlarged than the spirit of a genuine merchant. What a thing it is to see the order which prevails throughout his business! By means of this he can at any time survey the general whole, without needing to perplex himself in the details. What advantages does he derive from the system of book-keeping by double entry! It is among the finest inventions of the human mind; every prudent master of a house should introduce it into his economy."

  • Also from Ben Franklins Autobiography

In 1737, Colonel Spotswood, late governor of Virginia, and then postmaster-general, being dissatisfied with the conduct of his deputy at Philadelphia, respecting some negligence in rendering, and inexactitude of his accounts, took from him the commission and offered it to me. I accepted it readily, and found it of great advantage; for, tho' the salary was small, it facilitated the correspondence that improv'd my newspaper, increas'd the number demanded, as well as the advertisements to be inserted, so that it came to afford me a considerable income. My old competitor's newspaper declin'd proportionably, and I was satisfy'd without retaliating his refusal, while postmaster, to permit my papers being carried by the riders. Thus he suffer'd greatly from his neglect in due accounting; and I mention it as a lesson to those young men who may be employ'd in managing affairs for others, that they should always render accounts, and make remittances, with great clearness and punctuality. The character of observing such a conduct is the most powerful of all recommendations to new employments and increase of business.

  • From Historian Alfred Crosby's book The Measure of Reality:

In the past seven centuries bookkeeping has done more to shape the perceptions of more bright minds than any single innovation in philosophy or science.


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