“What is the definition of ‘accountant’?

Someone who solves a problem you didn’t know

you had in a way you don’t understand.”
As defined by Investopedia, an accountant is a professional who performs
accounting functions such as audits or financial statement analysis. In simple terms,
accountants are responsible in recording the organization’s business transactions and
generate financial statements from these figures to report the company’s financial
condition to management. These definitions are far cry from the stereotypes attached to
being an accountant. “Accountants are excellent in math.”, “They have a monotonous,
boring line of work.” “They are workaholics who has no life outside work.” – Those are
just several descriptions given by ordinary people. This written discourse aims to discuss
and debunk various misconceptions regarding the accounting profession.
“Accountants are boring.” – One of the common fallacies. A survey conducted
by Job Cluster revealed that being an accountant, an Account Manager precisely, is one
of “The 10 World's Most Boring Jobs”. Accountants’ day-to-day work follow a systemic
pattern of recording, analyzing, investigating and reporting of business transactions,
which can be boring to some but interesting to others. The work can actually be
adrenaline-inducing, especially when the reports for the auditing season is nearing its
deadline. However, this does not necessarily mean that accountants sit at their desk all
day facing spreadsheets as they scrutinize numbers and transactions.
There are well-known people who have a different and an exciting career besides
their profession as an accountant. Famous American saxophonist Kenneth Bruce
Gorelick, known as Kenny G, was a musician and a magna-cum laude in his accounting
major at the same time. Arthur Blank, the cofounder of Home Depot and owner of the
Atlanta Falcons football team is a Certified Public Accountant. Notable American
government agency, Federal Bureau of Investigation, has been employing accountants
to perform audit, fraud and forensic duties.
According to Katie Thomas, CPA, one of the myth that many people think is that
“all accountants are introverts and are antisocial”. Contrary to what these people
think, being an accountant requires one to be not just friendly with coworkers in the
accounting department, but they it also expects the individual to be approachable and
good communicators so as to better communicate with his colleagues from the different
department and the management.
An accountant must have heard “You are an accountant, therefor you must be
good in Math” once in their life. It is a popular belief that accountants are math whizzes
who can solve complex mathematical problems in their head. In reality, simple arithmetic,
such as addition, subtraction and multiplication, are the common mathematical operations
used in accounting. There are also calculators, Excel Spreadsheets, and accounting
software that aid an accountant.
There are essential skills that an accountant need more than being good in Math.
Instead of having great mathematical skills, an accountant needs an excellent analytical
thinking. The job requires to analyze the transactions; identifying whether it is an asset, a
liability, or an equity, knowing when it becomes a debit or credit, or tracking the cause of
an unequal debit and credit. Proficiency in professional writing comes is a convenient
skill, given that reports have to be comprehensible for both the professionals in the
accounting field and the clients who are not familiar with accounting jargons. A good
interpersonal skill is also needed to effectively communicate the financial statements to
the management and to interact with the clients.
Accounting is a flexible career, but it is not true that “Accountants are tax
experts”. Accounting is associated with taxes, but it is only a small aspect of the

1/3
accounting cycle. There is a general understanding of accounting principles concerning
taxes, however, most accountants are by no means eligible to offer any form of tax advice
or have a profound conversation regarding tax compliance.
Tax accountants specialize affairs involving taxes such as the proper compliance
with tax regulations, tax filings, and tax planning to reduce a company's tax burden. As
specified by PopOptiq, their tasks include the completion of tax returns, examination of
books and accounting records, determination of how much taxes are owed to the
government, and making sure those taxes are paid on time.
An accountant’s job involves monitoring the inflows and outflows of the
organization’s various financial assets. Without comprehending the real description of an
accountant, this idea has led many in the unwarranted conclusion that “accountants are
well-off or are paid a hefty amount of money”.
According to the Department of Labor and Employment (DOLE), accountants
working in government offices usually receive a starting salary of ₱20,000, whereas a
Chief Accountant normally has a monthly take home pay of ₱30,000 to P35,000. An
accountant's pay in a medium sized private company usually ranges from ₱35,000 to
₱45,000 a month. In large or multi-national companies, accountants usually receive about
₱50,000 to ₱75,000 a month. However, based on the research of Salary Explorer, these
figures may differ drastically based on experience, skills, gender, or location.
Experience level is the vital factor in determining the salary. Greater number of
years in the field yields greater salary. A fresh graduate to an accountant with at least two
years of experience typically receives 15,653 PHP per month. Acquiring an additional skill
or specialization is a great way to increase one’s salary. Becoming a Certified Public
Accountant (CPA), acquired through a licensure exam, is an advantage to an accountant.
This is due to the higher pay and benefits, and entitlement to a better position that comes
with the title.
Another mistaken belief related to an accountant’s salary is that “an accountant’s
signature is worth a fortune”. Although the statement is partly true, only Senior
Accountants and CPAs are eligible in signing important documents with attached value.
This may appear as an easy source of money, but it creates the responsibility to check
the work is done with accuracy and the accountability when an error has transpired.
Richard Burr once said; “See through the stereotypes, which were made due to a
lack of information.” Every profession has its misconceptions that need to be debunked.
To define an accountant based on someone you know or you have heard of defeats the
vastness of an accountant’s profession as there are also exciting, multi-faceted work and
the innovation that come within the profession.

2/3
 Bibliography
Accountancy Problems. (2017, December 13). 10 FILIPINO ACCOUNTING MYTHS -
BUSTED! Retrieved May 21, 2019, from
https://www.accountancyproblems.com/2017/12/13/10-filipino-accounting-myths/
California College - San Diego. (2014, January 4). Debunking 5 Misconceptions About
Accountants. Retrieved from https://www.cc-sd.edu/blog/accounting-and-
accountants-5-common-misconceptions
Department of Labor and Employment (DOLE). (n.d.). Accountant. Retrieved May 21,
2019, from http://www.ble.dole.gov.ph/index.php/cg/36-accountant
Half, R. (2018, July 23). 5 Reasons the Accountant Stereotype is Supremely Ridiculous.
Retrieved May 19, 2019, from https://www.roberthalf.com/blog/salaries-and-
skills/5-reasons-the-accountant-stereotype-is-supremely-ridiculous
Job Cluster. (n.d.). The 10 World's Most Boring Jobs. Retrieved May 20, 2019, from
https://www.jobcluster.com/career-advice/the-10-world-s-most-boring-jobs-44
PopOptiq. (2018, November 02). 13 Different Types of Accountants. Retrieved May 20,
2019, from https://www.popoptiq.com/types-of-accountants/#Tax_Accountants
Salary Explorer. (2019). Accountant Average Salary in Philippines 2019. Retrieved May
21, 2019, from http://www.salaryexplorer.com/salary-
survey.php?loc=171&loctype=1&job=998&jobtype=3
Scheck, J., MBA. (2019, February 28). 6 Myths about Being an Accountant. Retrieved
May 19, 2019, from https://financialcareeroptions.com/myths-accountant/
Top Accounting Degrees. (n.d.). What Does an FBI Agent Specializing in Accounting
Do? Retrieved May 20, 2019, from
https://www.topaccountingdegrees.org/faq/what-does-an-fbi-agent-specializing-in-
accounting-do/
Weber, J. (n.d.). Common Myths About the Accounting Profession. Retrieved May 19,
2019, from https://www.selectonellc.com/blog/common-myths-about-the-
accounting-profession

3/3