In an effort to highlight the financial developments, changes, and mistakes that have shaped the current business environment, Accounting Matters released an outline of The 5 Most Influential Financial Moments in History.
The list includes a number of events that happened as early as 1913 and as late as the early 2000s. Accounting Matters also looked at the international picture as globalization is becoming such an increasingly important part of modern business. The detailed list can be found on the site, but the five events included:
1. 1. The Formation of the Federal Reserve (December 23, 1913) – The event that standardized the currency of the nation (there were over 30,000 currencies in circulation at the time) and established the nation’s monetary policy.
2. 2. The Stock Market Crash (1929) – The crash that led to the great depression saw stock values quadruple between 1920 and 1929 only to drop 80% over the next few years.
3. 3. The Introduction of Credit Cards (1950s and 60s) – This small piece of plastic changed the way we consume products and handle debt. What started with the Diners Card grew to a current purchase volume of trillions of dollars.
4. 4. The Introduction of the Euro (January 1, 1999) – In the short time the European currency has been in circulation it has become the second most traded and the second largest reserve currency in the world.
5. 5. The Dot Com Bomb (March 10, 2000) – In a move that resembled the 1929 stock market crash, investors put so much money into these new companies that stock values shot up. The new business models couldn’t last, though, and soon they came crashing back down.
Accounting Matters is a financial management firm that focuses its services on financial strategy and evaluation, and it believes that by understanding the evolution of the financial world, it will be much easier to stay on top of the industry when it hits another historical milestone.
About AccountingMatters.com:
AccountingMatters.com provides expert financial management and assists in making the most well-informed decisions to advance businesses from one milestone to the next. Business owners and executives need to focus on activities that generate revenue, and the AccountingMatters.com services allow companies to dedicate their time to those activities instead of managing the finances. We have years of experience in accounting and business management and our dedicated team of professionals have the ability to help companies with their individual needs.