Talking Cents

4 Common Stereotypes Of Business Accountants

Stereotypes can be quite interesting because it paints a picture of someone so you go in with those assumptions even before meeting a person. These stereotypes can, unfortunately, stop you from even wanting to experience something but the stereotypes have nothing to do with reality. Accountants can leave such a big impact on your business yet, they are not given the chance. Here are the 4 most common stereotypes of a business accountant that M.A.S Partners, Australia’s original accounting firm for small businesses, have heard about.

1. We are financial magicians
Most business owners hire accountants because they do not want to deal with the financial side of their business and that’s not an issue, of course. But let’s set the record straight: while we are there to help you with your business's financial performance, we are not magicians. If your business is underperforming financially, we can look into your finances and provide advice on how you can improve. We cannot, in the blink of an eye, generate profit for your business.

2. The language of taxes
When you think of accountants, the first word that you probably will think of is taxes. Yes, we can do your taxes. No, it is not the only thing we can do. Most accountants understand the fundamentals of taxation but they can play both financial and business advisory roles for your small business depending on what the accountant specialises in. Need help with budgeting your finances? An accountant can help. What about auditing? Accountants can also do that. Just make sure that when you are hiring a business accountant, you know who you are looking for.

3. Spend all day crunching down numbers
Accountants do love looking at numbers but we do more than just crunch down numbers. Numbers give us an indication of how your business is performing but also allow us to interpret the data and analyse the strengths and weaknesses of the business. The numbers tell us which direction your business is heading so it’s more beneficial for you to involve accountants in the business’ vision so that we can help you align the two.

4. Pen, paper, and excel spreadsheets
Thanks to the advancements in technology, accountants are provided effective and efficient ways to help you. While at times, you may see us using a pen and paper or staring at an excel spreadsheet, we have found other software that can be used to help us help you. So no, we do not live and breathe excel spreadsheets, we love them but we also have other tools up our sleeves.

Don’t let stereotypes be the reason why you have not hired an accountant. Being Australia’s original small accounting firm for small businesses, M.A.S Partners is dedicated to helping you and your business. So if you are a local business and would like to speak with our team of small business accountants in Sydney about the services we offer and what we can do for you, call us on (02) 9211 5000 or visit our website at https://www.masaccountants.com.au/