AN ASSET OR NECESSARY EVIL???

After a series of blogs on exams and preparing for the exams, let us move on to a topic that has always fascinated me, one which I think would evoke differing responses and comments from amongst the global ACCA fraternity.

Recently, I witnessed a conversation between two young accounting students, who were exchanging their experiences at work and discussing the differences in office cultures & work-patterns. During the conversation, one of them shared her company’s perception of the role of an accountant, as a mere policing force, with little value-addition. The other contradicted & stressed that in his firm an accountant was considered to be an asset, a dedicated worker, a pundit in decision-taking and an embodiment of pragmatism.

This sprouted the desire in me to discuss and invite opinions on this very interesting aspect – Are accountants an asset to the company or are they a necessary evil?

Some say that accountants are costly to hire and retain and not a penny of revenue do they generate on their own. They say the accounting department is an unjustified overhead cost; accountants create roadblocks and disrupt the smooth flow of business by advocating bureaucratic procedures and unnecessary paper-work. They also say that accountants are dull and inefficient workers, who never seem to finish their work. Besides, it is believed that accountants are overtly pragmatic and are seen to always shun innovative and creative ideas. They believe accountants create more issues than they resolve, in their attempts to police and streamline the operations of the company and never do they share cordial relations with other departments. By virtue of their position in any organisation, accountants are nothing more than support personnel, who add little value to the company and perhaps the only reason companies hire them, is to have somebody (accountants themselves!) to take to task and take all the blame in the wake of financial crisis. In simple words, they say that accountants are nothing but a ‘necessary evil’.

Now, look at the other side of the picture…

Irrespective of the size of the organisation, scope of operations and complexity of business functions, accountants are required in all spheres of activity to support and funnel the various business processes. The world- economy is on a down-turn now and who better than a charismatic finance person, to negotiate companies through this complicated and knotty test of ‘survival of the fittest’. Ethical values and integrity are vehemently advocated by professional accounting bodies like ACCA and these aforesaid values are rooted in their qualifying structures. In the light of the above, they are expected to lead by example & act as mentors to others in the organisation, in putting forth ethical behaviour and exhibiting professionalism. In undertaking such a role, little do others realise the complexities and intricacies of having to deal & advise others on dealing with certain irresolvable ethical dilemmas. And not to forget the typical accountant’s long late-night hours that go behind collating, analysing generating and providing relevant information for decision-taking at operational, tactical and strategic levels of the organisation. Hail the cost-accountant who goes the extra mile to support the Sales, Marketing & technical team in many ways, and ends up seeing them take all the credit away – be it in the form of bonuses for achieving targets or an incentive for high departmental profits! Applaud the financial accountant, who is reprimanded for a day’s delay in compiling the financial statements and takes all the blame for the inability of non-accounting departments to follow procedure and generate documents, which form the basis of accounting, on time! Three cheers to the credit control finance person, who is often loathed for being un-cordial & frosty! A pat on the back for the financial analyst, who works backstage 24x7 to advise and support the board in strategic decision-making, only to be considered cold and standoffish by the others at office!!!

It is often difficult to be empathetic and to be able to see the other side of the picture. Being an accountant myself, it may be incorrect on my part to draw a conclusion to this never-ending debate!

All I can tell you - members , affiliates & students reading this blog – the next time you hear someone say accountants are a necessary evil or unwarranted cost to the company, never be de-motivated, never be dejected. Just remember that accountants are the unsung heroes behind the success of organisations!!! Let us also remember that depending on the size and type of the organisation, accountants play differing roles ranging from being at the core of the business in audit, accounting and financial training firms to being a support function in many others. Irrespective of the role that we play in work, let us all consciously strive to be and also to be seen to be an asset to the company, adding value, exhibiting high ethical standards, supporting and guiding others in the organisation, just as we have done over the years, and I am definite that over time, the efforts, hard-work and dedication will be rewarded and we accountants will be considered the greatest assets of any organisation!

Comments

[Vignesh]

Shambu,

You have to pay the exam fee only for papers you intend to appear.
You will not be required to remit fees for f7/8

[Vignesh]

Hi Emma,

Glad to see your immense interest in ACCA. Please note that I was myself a science student before opting to do ACCA. With a bit of extra effort and perhaps some basic coaching (tuitions) in basic accounting your knowledge will be at par with any commerce passed student. Get yourself enrolled for some tuitions and get through F2,F3 books on ACCA and you should be ok.

[sambhu]

Is it true that if i will appear for F5,F6,F9 in june 2009 i have to deposit fees for F7 and F8 also. Is it mandatory to appear papers in order within a module.

[emma]

hi

iam a science student i have just passed my 12th cbse board exams with 72% i had bio and math. ihave registered with acca but iam confused . i dunno anything about accounts so iam worried about going for ACCA will i be able to carry it off without graduation and being a science student in 12th. will it be impossible to pass the exams .i have not given any exam for ACCA my first paper will be in june 2009, is it a wise decision ,please i need help wat do u think .i dont have any elder to help or advise me. please advise me as a brother

[Vignesh]

Hi Travis,

Apologies for the delayed reply to your query.

Often the choice of choosing between taking up full-time employment & of continuing on studies and deferring employment for later is a very difficult one! Ultimately it boils down to how each person approaches it!

However, I suggest that you look for some sort of part-time freelance work in an accounting/audit role, which should enough time to pursue your MBA or any other course and also help you gain vital work experience (onjob).

regards
Vignesh

[Travis LeBlanc]

I am a sophomore Accounting student at University of Massachusetts in Lowell, MA. How should I prepare now for when I graduate and enter the work force? Are there steps I should take to better my chances of finding work as an entry level accountant? Should I stay in school and get my MBA before trying to find work, or find a job first then go to night school for my MBA?
Thank you.