What do accountants do? Dispelling the myths!

 

Mention the word “accountant” and I fear most people still conjure up the John Cleese stereotype of the boring, grey, number-cruncher. Ask what an accountant does and, again, many people think of someone who either “does the books” or helps the “Inland Revenue” to make sure taxpayers pay their dues! Even my husband calls me a “bean counter” as he knows it’s guaranteed to wind me up! Thankfully, he also knows that it’s far from the truth!

 

At Moore and Smalley I like to think that we have long since shaken off this image, but for all those “out there” who may still not fully appreciate just what the progressive 21st century accountancy firm actually does, let’s dispel some of those myths.

 

Myth 1: “Accountants are historians – they work on the past”

 

Our aim is to provide whatever input, advice and support our clients need from us in order to help them achieve their personal financial and business goals. Whilst this does obviously include giving them the peace of mind that comes from being compliant with their historic accounts and tax returns, this is often just the foundation for everything else we do. The chart below shows that in fact much of our skill and expertise is applied to helping out in the PRESENT or working on planning the FUTURE. For example, for clients who want to, we can help them grow and build real value into their businesses, often over many years. Typically, this may involve our support and advice with a whole host of activities including strategic and business planning, performance management, systems design and implementation as well as more traditional profit improvement services; all this, backed up by first class tax planning and advice.

 

Myth 2: “Accountants only work with numbers”

 

Whilst we do see a certain beauty in numbers (!), first and foremost accountants work with people. In fact, the most important thing we do is to build relationships with our clients not least by questioning, listening, challenging and understanding what’s important to them and what they are trying to achieve. In this way we can offer relevant knowledge and advice to enable our clients to formulate solutions that work for them. Many of our senior people now receive formal training in business coaching skills to enable them to help staff members and clients alike to maximise their potential.

 

Myth 3: “Accountants aren’t business people”

 

As an accountancy practice the partners do of course have firsthand experience of running a business – our own! What’s more, the modern Chartered Accountant is a trained business professional and those of us who stay in private practice are privileged to build our knowledge and experience due to our unique insight into countless businesses in a vast range of business sectors, at all stages of the business lifecycle. This exposure to the successes, and indeed the inevitable failures, of so many businesses is a priceless asset that can be called upon for the benefit of all our clients.

 

Myth 4: “Accountants are boring”

 

Well, I guess you’ll judge for yourselves… but words like innovation, creativity and passion are very much in our vocabulary nowadays. For example, we are currently establishing our credentials as specialist advisers to the rapidly growing, and economically important, digital and creative sector. But more of that in a later issue!

 

So to sum up (as you would expect an accountant to!) I hope you will agree that “all accountants are not the same!” Why not make it one of your 2010 resolutions to make full use of your accountant?