3 Misconceptions About Accounting & Accountants

3 misconceptions-about-accounting-and-accountants

 

We see it all the time from corny comic strips, bad movies, and hacky stand-up comedians– if you need a boring job to make fun of, go after the accountants! Most people perceive accounting as a dull ocean of cubicles, filled with bespectacled pencil pushers that love nothing more than using an abacus. In truth, accountants are as diverse and multifaceted as professionals across all industries. Keep reading for three of the most common stereotypes about accounting and accountants, then educate yourself with the truth from the pros here at Liu & Associates.

“I know math– I can do it all myself!”

First of all, accounting is more than just math! While arithmetic skills are essential to a good accountant, the real strength of financial professionals is organizational skills, analysis, and logic. In fact, complicated maths like calculus are rarely, if ever, used in the industry. Additionally, beware the promises of do-it-yourself accounting services and software– they can give you a false sense of security that might lead to costly errors or omissions.

“Accounting is expensive, only big businesses can afford it.”

The fact that big businesses all have accountants means one thing: they understand the importance and value of proper finances. Anyone can benefit from accounting– no matter the size, scope or scale of your needs. While it is true that not every accountant is right for you, that is why there is such a wide range of services available. From affordably basic to fully custom-tailored, there is a financial professional that suits you!

“Accountants only fill-in spreadsheets and file taxes.”

As with most of these misconceptions, there is a grain of truth to the myth. Yes, spreadsheets are critical to accounting and any good accountant knows their way around a tax return. Ultimately though, spreadsheets are just a tool– only the talent and skill of a financial professional makes them sing. Likewise, filing taxes is merely a cherry on the top of the long list of intricate finance and business decisions influenced by accountants’ advice.

You may have believed some of the misconceptions and myths above, but hopefully, this article has helped clear the air. Questions? Concerns? Contact us at Liu & Associates today!

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