If you happen to have any connection with the field of accounting, people are quick to assume that you can easily calculate any amount in your head. Let’s just clear this misconception once and for all. That’s not what an accountant in Sydney does. People tend to confuse mathematician with the former. We have put together some commonly held myths in the hope that people can clear their understanding.
- Accounting and math are the same: Yes, it is true that we are basically crunching numbers. But so is a marketing person, an engineer, a salesperson or a shopkeeper for that matter. When you have to buy something or sell, you have to calculate the amount using numbers. This is where the math comes into play. However, accounting is much more than number crunching. How we can create a distinction between the two fields by understands that bookkeeping is done to put all the assets, liabilities and expense that a business incurs in the books. This is for the business manager or shareholder to use these numbers to predict the future. It is more of an analysis than algebra.
- Gender disparity: It is wrong to assume that only men can become accountants. Women are also entering into this field. Mostly men are seen in the executive position but this scenario is also changing quickly. Women are proving that they can maintain the balance between work and home, and this is giving organizations and go-ahead to hire more capable and hardworking women in their team.
- Accountants charge a heavy price: This is true for a high dollar business firm that will charge you an arm and a leg for their services. But if you check for references and the right qualification, you can find firm and individuals within your budget.
- People with an accounting background are introverts and don’t like working with customers. Everyone at some point will have an interaction with their client. That could be in the form of vendors, customers or employees. There is a need to be a people – person even for a tax accountant. Just like other individuals, accountants also have normal family lives. They go out, interact with other people and do all the fun things just as others.
- QuickBooks allow me to handle accounting myself: QuickBooks is an amazing program and one that is used on a daily basis, but it does not take the need for an accountant away. Having this program is indeed a great help and can become an awesome tool, but your accountant needs to help you set it up, educate you on how you can and should use it, and come in periodically to be sure everything is in order, run reports, and fix problem areas. You can be wonderful in business but unless you know how to run the accounting side of your business perfectly, you should really do yourself a favor and at least get advice from a small business accountant on this process.