We think that there are many wrong assumptions about accountants and the work that we do, and the truth is, being an accountant is much more interesting and varied than many think. For a change and some fun, we thought we’d look at what people think working in accounting involves vs what it really does. Is your perception, right?
What people often think Accountants do
1. Spend all day crunching numbers and being math geniuses – numerical literacy is, of course, an important part of the job, and accountants tend to be good with numbers, but we aren’t mathematical prodigies.
2. “Being an accountant is boring.” – The reality is that many accountants are able to contribute to how a business evolves, and that can be truly rewarding, and provide job satisfaction.
3. Free tax advice – As with many other professions, many accountants specialise in specific areas, lots of the job is about knowing where to find information rather than having it all stored in our heads and specifics that depending on the client. We can’t answer your random tax questions at a party!
4. Accountants are often asked about mergers , acquisitions, new businesses and although this is a part of accounting it is more on the managerial accounting side and requires in-depth analysis and preparations to execute – not on a quick lunch break!
What Accountants really do
The reality is a good Accountant is mostly keeping on top of your numbers and tax compliance, but other important key tasks include:
1. Effective and constant communication with clients to ensure all the processes are done effectively and correctly, and you understand everything that is happening and why.
2. Help a business in case they have been contacted by the HMRC for an investigation.
3. Making sure the business is compliant with all regulations and changes
4. Providing vital business advice in different areas to help improve the efficiency and general running of the business
The truth is accountancy is flexible and varied, and a good accountant should be tailoring its solutions to the client rather than offering an out the box solution that is the same for all. Whether your accountant really does what you think they do or not, make sure that they are adding value to your business. If they aren’t, think about talking to an AIMS Accountant to see if our approach could help.
AIMS Accountants has been helping businesses for nearly 30 years across the UK in different sectors and businesses of all sizes. If you are currently looking for an accountant, get in touch with us today!