So, what was important during 1880-1900 in the history of accounting? Cities in the United States begin to grow at dramatic rates between 1880 and 1900. Most of this population growth is due to the expansion of industry in major cities to the north. Steady streams of people also migrated to the cities from rural America during this period. The Home Insurance building because the world’s first skyscraper due to it’s unique architecture and weight-bearing frame.
Historical events and accounting milestones from these decades were:
- 1887 – The American Association of Public Accountants (AAPA) is created and begins issuing certificates. This organization would later become what is today the American Institute of Certified Public Accountants (AICPA).
- 1887 – The Comptometer, one of the first key-driven calculators is patented.
- 1893 – The first gas-powered car in America is built and road-tested by the brothers Charles and Frank Duryea.
- 1894 – A 2% federal income tax is passed in the United States as part of the Wilson-Gorman Tariff Act of 1894. This tax, however, is never actually implemented due to judicial challenges.
- 1895 – The challenges to the previous year’s income tax lead to it being ruled unconstitutional by the Supreme Court in Pollock v. Farmers’ Loan and Trust Company.
- 1896 – The first class of Certified Public Accountants (CPAs) are licensed after passing the first standardized tests for accountants.
- 1896 – New York Governor L.P. Morton signs the first CPA bill into law.
- 1899 – Christine Ross becomes the first female CPA.
