There are a lot of misunderstandings about accountants out there; if you’ve ever watched popular sitcoms like The Office or Parks and Recreation, you’ve undoubtedly seen them portrayed as boring! In this case, the truth is far more intriguing than fiction, so keep reading as we expose the top 8 accounting myths…
You must be a strong mathematician.
Accountants must be numerate and have a strong grasp of numbers, but they do not need to have excelled in math or competed in the International Mathematical Olympiad. Accounting software now does a lot of the heavy lifting, and the ‘Big Four’ accountancy companies search for applicants with great commercial acumen.
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Accountants will become obsolete as a result of automation.
Stories like the Wall Street Journal’s “The New Bookkeeper Is a Robot” offer a picture of a future in which robotic process automation – computer software capable of operating a variety of applications – would take over substantial aspects of the accountant’s function. Technical and financial knowledge, on the other hand, will always be necessary for higher level analysis, strategy and compliance issues
I can just use a bookkeeping app.
Accountancy software is a flourishing market that may assist small firms simplify mundane bookkeeping tasks – but it can’t replace the efficiency of a human’s understanding of accounting concepts, which can provide crucial insights into a business.