We can’t tell you the last time we went out with friends for dinner and weren’t hastily handed the bill and told “Here. You figure out how we split it.” Or “What tip should we leave? You’re the accountant; you can figure out the math, right?” Here’s a news flash – just because we’re accountants does NOT mean we are good at math. We are NOT math super heroes. Nope. Not even close.
We’re here to debunk yet another accounting myth: Accountants are (or need to be) good at math. Don’t get us wrong – there are accountants who are whizzes at math and can add bajillion plus katrillion in .4 seconds. Yes, we know these aren’t real numbers, but we’re trying to drive home a point here. It’s safe to say that most accountants are above average when it comes to dealing with numbers, but to say that it is a requirement of the job is a thing of the past. Here’s why: accountants now have countless ways in which to check the actual calculations in our work. In fact, we are rarely performing the calculations ourselves anymore. Digital spreadsheets and calculators relieved us of that responsibility long ago. Peer review and due diligence is another way in which our math work gets a double check for mistakes.
What we DO need to be good at is understanding HOW to calculate and develop formulas to arrive at information that is useful for analyzing and growing a business. Creating financial statements, analyzing cash flows, understanding business theory and how to apply it in the real world. THAT’s the stuff accountants are made of!
So, next time you’re shopping with your accountant friend and you want to know how much everything in your cart will cost, go ahead and ask her. But don’t be surprised if she pulls out her smartphone calculator to give you the answer.
If you haven’t already, watch our video. We’re giddy about making this for you. Stay tuned until the end…sometimes we save the best for last. #BFBloopers
Missed our first myth debunking video and experienced a serious case of FOMO? Watch it here.