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Fact or Fiction? Accounting Myths Debunked!

Accountants are BORRING

This is my favourite myth! Sure, any group that get excited over fancy pens, or have a blow up chicken as an office pet might cause you to raise an eyebrow – but as with any career, you will find a variety of personalities throughout the profession. Most accountants I know are actually very outgoing and bubbly!

Just to persuade you even further, there are actually celebrities out there who studied to be accountants – bet you can’t guess!

• Mick Jagger – Rolling Stones Frontman
• Janet Jackson – Singer
• Kenny G – Kenneth Bruce Gorelick, world famous Saxophonist
• Eddie Izzard – Comedian
• John D Rockefeller – Entrepreneur

“Accountants aren’t boring people – we just get excited over boring things”

You must be a maths genius to be an accountant

Contrary to popular belief – accountancy isn’t all about solving complex mathematical problems in your head. Simple addition, subtraction, multiplication and division with a trusty calculator is required!

The basics of accountancy (bookkeeping) and the day to day financial systems of a business are based around the ‘ins and outs’ of the business or in maths terms the ‘positives and negatives’ and hence if you can add and subtract you can understand the basics.

The rules of accountancy are complex, and this is where the true skill lies not in the maths at the basis of what we do. Legislation is in our brains – the maths is in the calculator!

Accounting is only about doing taxes

No one would expect a Neurologist to be an expert in heart surgery?! Same principle applies for accountants. We have many different specialised areas. Accountancy is so varied that you can be an accountant without so much as touching a tax form!

Accountants can only be men

It is true when you search the top tiers of large accountancy practises only 18% of partners are female – however when you look at qualified accountants it raises to 45%! Here at PLH we are a very female dominated office (poor Pete)

It may be a male dominated industry for practise partners – but not accountants.

An Accountant will cost me an arm and a leg!

This would be the case if you find a high dollar big business client firm, but you need to find the right firm for you. Check online, references, reviews and you will find most practices offer a range of packages to suit your needs. PLH is a small to medium business specialist and we have many different packages to suit what you are looking for!

If you have any questions, please do not hesitate to contact us on (02) 4934 4260 or email us on reception@plhaccountants.com.au.