8 myths of a career in accountancy

Like with most professions, there are certain stereotypes about what a career in accountancy involves, and what type of people accountants are. Like other stereotypes, these are for the most part myths and completely misleading.

If you are considering an accountancy career but feel concerned about rumours you have heard, read on to find out what is not true about accounting.

1. You need to be a maths genius

Being an accountant is much more about problem-solving than doing complicated maths. The job only really involves basic maths, and even then that is becoming less necessary with automated processes. Being able to tolerate maths is an advantage but the role is more about analysing and investigating. Accountants need to know about rules, regulations, and financial law more than mathematics.

2. Accountants are introverted and dull

This is a common myth, but one with no evidence behind it. Accountants, like anyone else, have families, hobbies, and social lives. Many successful people begin in accounting and move into an array of other careers because of the grounding in analysis, problem solving, and communication accounting training gives you. If this failed to persuade you, get your ticket to the PwC pantomime for next year to see for yourself that accountants are not dull.

3. Your daily lives will be sitting at desks and crunching numbers

The role of the accountant is greatly varied, and it is also changing. With technological advancements, accountants are doing less bookkeeping and more advising. On any given day, they may attend client meetings, produce financial reports, work on projects, or partake in discussions to improve the overall business. In short, accountants do not just sit and stare at excel all day.

4. Accounting does not contribute to the public good

Many accountants, for example those in the forensic accounting field, use their skills to prevent financial crime and regulate the financial industry. For instance, right now the forensic accountants for the Financial Reporting Council (FRC) will be preparing to launch an investigation into the Carillion case.

5. The job is boring

Hopefully by now evidence demonstrates that accounting is not a dull industry to get into, but if you need more convincing, consider the following. Taxation laws are constantly changing, and so accountants are kept on their feet, and need to be able to think outside the box and interpret laws as a large part of their roles. Also, accounting can actually be glamourous depending on how you get involved in it. You could help in high-profile investigations, be a celebrity’s financial advisor, play a large part in a company’s cybersecurity, or travel the world to help global companies to comply with international laws.

6. Accounting is a man’s career

This is definitely a myth. While there is still a way to close the gender gap in partner and board positions, many women still have significant roles in accounting. Key women in the accounting industry, such as Sascha Romanovitch and Sarah Churchman, made the Accountancy Age Financial Power List this year, and many more will be featured on the upcoming Women in Finance list in March.

7. Accountants know how to do taxes

While this is the case for many accountants, tax is not the only area of accounting you could work in and therefore not all accountants know about tax compliance. So if the idea of tax puts you off working in the industry, there are many other options. Accountants can also work in financial accounting, auditing, forensics, budgeting, cost accounting, and government accounting.

8. Accountants will soon be replaced by robots

With the continuous rise of technology, there is a lot of discussion about jobs going extinct. Certain accounting process are becoming automated, but this simply means that an accounting role is shifting, not disappearing. So accounting continues to be a smart choice for graduates; demand is not changing any time soon.