The 1980s was as loud as the 1990s were iconic. Whether its neon colors or Seattle grunge rock, you know the era when you see it. In the world of accounting, software programs and the birth of the internet helped revolutionize the industry for small and medium sized businesses.
Accounting & historical events from these decades include:
- 1981 – Muhammad Ali retires after losing to Trevor Berbick with an overall career record of 56-5.
- 1981 – The Economic Recovery Act of 1981 is signed by Ronald Reagan which included an income tax reduction for most of population.
- 1983 – Lotus 1-2-3® revolutionizes accounting for small and mid-sized businesses with its easy to use spreadsheet software.
- 1985 – The Nintendo Entertainment System® (NES) is released in the U.S.
- 1986 – The Tax Reform Act of 1986 is signed implementing another set of tax and budget cuts.
- 1987 – The AICPA celebrates its 100th anniversary.
- 1990 – The IRS E-File becomes operational nationwide, and 4.2 million tax returns are filed electronically that year.
- 1991 – Tim Berners-Lee builds the core of the world wide web, and in August of this year the first website is published.
- 1995 – The AICPA launches the CPA Vision Project to define the future of the profession.
- 1999 – The Gramm-Leach-Bliley Act is signed by US President Bill Clinton, which allowed for the consolidation of securities, investments and insurance under the same bank.