Boring, introverted, and obsessed with numbers. These are all adjectives that have been used to describe accountants. At some point, these misconceptions defined the industry, but that’s because most people have a vague understanding of what accountants do and who they are. The picture that’s been painted about accountants comes from a narrow view of the industry and we’re here to share the truth about the most common myths about the profession.
1. Accountants Only Deal With Taxes
Tax season is one of the few times accountants are seen as essential workers. It’s the stressful time of year when everyone rushes to their accountant in need of help filing their tax returns. However, accountants are more than just seasonal tax consultants. Accountants are essential in helping businesses monitor and assess their financials so they remain in good standing. This includes tasks such as:
- Preparing and maintaining financial records
- Advising clients on best practices
- Evaluating & analyzing financial operations so they can recommend ways to improve the organization
- Keeping account books and systems up to date
- Conducting risk analysis evaluations
- Ensuring compliance with state and federal regulations
2. Accountants are Boring/Introverts
Being an accountant is simply a job and does not define who you are as a person. Many people believe that accountants are boring or introverts, but in reality, some are far from this. As an accountant, you are constantly interacting and building relationships with clients. This involves strong interpersonal, and communication skills. Both introverts and extroverts can excel as accountants. During the day accountants may spend a majority of their time punching and analyzing numbers but they also have vibrant personalities beneficial for building and maintaining relationships.
3. Accounting is a Male-Dominated Profession
While this may have been true decades ago, women are now well represented in the accounting industry. Between 1983 and 2012, the number of female accountants grew from 39% to 60%. Today, more than half of accountants and auditors are women, making up 61.7% of the industry. It’s safe to say that accounting is no longer a male-dominated profession.
Pursuing a career in accounting provides many opportunities for women. There are a lot of growth opportunities for women to climb the corporate ladder and become partners at a firm. The accounting industry also provides job security, being as though there’s a high demand for accountants in every business.
4. You Have to be a Math Genius
Accountants deal with a lot of numbers, but you don’t necessarily have to be a math genius. Most accounting work is done in excel using spreadsheets and formulas that calculate numbers automatically. A more accurate description of accountants is they are problem solvers and analytical thinkers. They are trained to spot inconsistencies in financials and strategize to solve the problem. So don’t fret if math is not your strong suit; with time you can still succeed in the accounting industry.
5. Technology Will Take Over Accountants’ Jobs
Technology is a very important asset in accounting, but by no means will it take over the industry any time soon. The use of technology helps accountants efficiently complete their work. Proper software like notis assists accountants in engagements from start to finish. With that being said, the day-to-day work that accountants do requires human interaction that technology cannot replace.
6. Only Big Companies Need Accountants
Let’s clear this up straight away, all companies regardless of size, need an accountant. Bookkeeping is essential to every business, yet many small businesses overlook this process, resulting in irreversible damage. Small companies will greatly benefit from accounting services, so their books stay up to date and accurate. It is especially important to properly manage money in small companies so the business can continue to grow. Outsourcing an accountant to help with these tasks will be beneficial in the long run.
After reading this article, we hope you have a newfound perspective on accountants and the industry. Accountants are more than just number crunchers. Without them, most companies would not survive. The narrative about accountants is constantly changing and we will continue to shed light on all the positive work that accountants do.
#NOTIS THE DIFFERENCE
