Breaking the stereotype

In the movies an accountant usually is there to portray a dull person. In a few movies you might find an accountant for the mob, whose job might be more interesting, but at the same time illegal.

Stereotypes exist for a reason though. A “typical” accounting position could be boring because of repetitive work, but only because most accounting/CPA firms offer the same exact services: tax preparation, IRS representation and bookkeeping.

A different type of accounting service:

When I went to college I was told that accounting is the language of business and I was excited about it, but I got discouraged when I saw that most people do not use this deep and descriptive language to its full potential.

Recently I was working with Mr. A to help him set up an accounting system that would actually provide him useful information. The old chart of accounts that he got from the internet was good enough for tax preparation purposes, but for nothing else. It wasn’t sufficient to give him a clear picture of his own business. He was afraid to start planning for the expansion of his law firm, because there was no useful information to base the projections on.

First we started by implementing a record keeping system that was much faster to update, so he could get timely and accurate information. Then we had to work on presenting this data in a way that it was easy for him to understand.

Once we had the basics down, only then we could go forward and talk about planning, and actually measuring various things. As they say: what you measure, you can manage.

Measuring, managing, and planning ahead is the exciting part. This is what this weird accounting language is supposed to be about, and I’m happy whenever I’m able to use my “translating” skills to provide useful information that will be used to grow a fellow entrepreneur’s business.

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