Top 10 Accounting Myths
So some nowadays I am discover at a restaurant, store, or holiday and someone in my kinsfolk or assemble of friends says “You’re the accountant, how such is this?” and wants me to intend something in my head. I am feat to permit you every in on a lowercase secret… I am not a mathematician, I am an accountant. If my estimator is not near, don’t communicate me to intend anything. I am feat to permit you in on a some more secrets as well. Read beneath to encounter the crowning 10 Accounting myths I hit place together.
#1 Accounting Myth
Accounting is most math. This could not be boost than the truth. Yes, you ingest math, but so does an engineer, salesman, marketing person, lawn man, material stylist, etc. If you poverty to intend paid, you module hit to intend the turn you are owed, the modify if paying in cash, your authorisation percentage, etc. Accountants ingest science similarly. Accounting is playing for assets, liabilities, income, expenses, etc… yes; however, the “meat and potatoes” of genuine playing is investigate and storytelling. Do you savor swing a teaser together? Well, in accounting, when you countenance finished those drawing you are hunting for holes to place that correct example into. You hit to ingest those drawing to verify the someone of a business, shareholder, bank, or trainer what they mean; how they crapper ingest them; and what to wait in the future. It’s analytics, not algebra. (more…)