Introduction

Since its beginning, the profession of public accountancy has made a significant contribution to financial confidence in American business. The period of emergence of public accounting in the United States is considered to cover the years 1748 to 1895, spanning the time from the earliest ascertainable date for the performance of any of the profession’s functions in the Colonies to the year prior to the enactment of the first Certified Public Accountant law. This chapter contains a discussion of the functions of professional organizations and the development of accountancy education during these years. The period 1896-1913 forms the next natural division of the chronology. It terminates in the last year before World War I, the same year in which the federal income tax was enacted. Influences of the depression, and the establishment of reporting standards of certified statements, receive most attention in the account of the years 1928 to 1950.