Are most accountants men? Does your business need accounting? Find out the answers now!
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Have you come across people who don't have much idea of what an accountant does? They look quite confused when they hear the word ‘accounting.' Somehow, the stereotypical image of accountants starts playing in their minds. The reality sounds very different to them when they hear your view of working in an accounting company.
We break a few myths that people believe about accounting.
1. Accounting = Maths
Math is used in a lot of professions and of course, day to day life, but to say that accounting is about math is not true. Accounting is about analysis and research but in a very interesting way. For you, a number may just be a digit. For us, it’s more than that. It’s the story that the numbers tell, the decisions that depend on them.
2. Accounting is not for small businesses or startups
Even if you have a small business, accounting is still very essential for you to know how your business is doing. Accounting is not a one-time job. Your financials need to be taken care of all year long. All the records must be clear, especially when the tax season rolls in.
3. I need accounting only during VAT filing
Surely VAT is a busy season, but accounting is not a one-time job. FTA requires businesses to maintain all their records and documents, especially if they have to be presented in case of an audit. This means proper records of the entire year. In case any business fails to produce the required records, they may be penalized accordingly.
4. Accounting is expensive
Getting your accounting done is not an expensive affair, unlike what you would have heard. There are accounting service providers that do accounting for you at the rates that fit your budget. McLedger online accounting and bookkeeping services are priced to suit the needs of startups, micro, and small businesses, providing them with uncompromised quality to assist in their growth. Accounting is meant to help you see how your company functions financially and how you can take advantage of opportunities around you. The smooth running of business demands insights of accountants. We spend our time understanding your business and giving you all the insights and advice you need on the most beneficial path for your business.
5. Only men are in this field
When you think of an accountant, you think of a man in suits with glasses. That’s just in movies. Women comprise more than 60% of the workforce in the accounting industry, dominating men in this area.
6. Accountants are boring and don’t like to socialize
Not true at all. We have to interact a lot with clients to understand their business well and explain to them our analysis. Our art is to rightly interpret your financial information so you can take healthy business decisions. At work, we engage in serious discussions, experience fun moments together, celebrate little things, and come up with unique ideas to give the best accounting experience to our clients!