When you think of an Accountant, what comes to mind? Some of the most common answers are taxes and numbers. Although Accountants do deal with taxes and numbers, there is so much more to the profession. According to the 2019 Accounting Graduates Supply and Demand Report published by the AICPA, there were 241,873 students enrolled in an Accounting program for the 2018 school year (AICPA, 9). Accounting can be an excellent career, especially with the demand for Accountants far exceeding the supply. Let’s go through some common things to keep in mind if you are considering a career in Accounting.

Stay Organized

One of the best traits an Accountant can have is organization skills. Organization skills, like time management, are critical to stay on top of a workload, especially during tax season. Accountants face many deadlines that need to be met in order to avoid penalties. Procrastination is not an option to keep happy clients and avoid penalties from the IRS. Avoid trying to remember everything and instead keep a pad of paper handy to write tasks down and organize your day. Having a visual of what needs to be done can increase efficiency and help you stay on schedule.

Do Your Research

Accountants, especially Certified Public Accountants, are held to a higher standard. Clients expect the correct answers on all questions. Accounting regulatory bodies issue specific standards that need to be followed, most of which are accessible with a quick Google search. Take the time to do 5-10 minutes of research to provide clients with correct information. Avoid walking into client meetings with no preparation.  It is detrimental to a client relationship to give false information that the client relies on, such as a refund on the tax return when they actually end up owing money.

Ask for Help

As I mentioned before, research is critical to giving qualified opinions on Accounting matters. What if you can’t find what you are looking for? Do not be afraid to ask for help. It can be daunting at first as a new Accountant, but there is a vast number of individuals who have been where you are and are willing to help. Learning the profession of Accounting takes time, often many years, so having expectations to know everything right away is unreasonable. The items learned in the classroom usually don’t make sense until it is applied in a real-life situation. Remember, knowledge takes time and experience!

Keep Learning

One of the biggest mistakes an Accountant can make is to quit learning after college. Tax law is constantly changing, with updates every few months. Learning about the new laws and regulations is required in order to accurately assist clients. A degree means nothing if you don’t stay consistently informed about changes. There are many sources that send a monthly newsletter on tax law updates, such as Kiplinger Tax. It is highly encouraged to pay the small fee for a subscription to ensure you are aware of new changes.

Maintain Proper Etiquette

Accountants are expected to be very professional and put together. You may think it is silly, but good hygiene is necessary. First impressions do matter. When a client sees you for the first time, you want to appear put together and professional. After all, they are trusting you with their money! A good saying is fake it til you make it. All you need to do is appear professional and confident and clients will believe it. Another common phrase in the Accounting community is to dress for your day. If you know you have a client meeting, dress in business professional clothing. Most firms are leaning more towards flexible dress codes with expectations that you will dress appropriately for client meetings.

Follow Ethical Values

The entire profession of Accounting revolves around client trust and professional guidelines. CPAs are expected to follow the AICPA Code of Professional Conduct. Most Accounting firms have adopted these guidelines whether you are a licensed CPA or not. Among the guidelines found in the Code are rules on independence and ethical dilemmas (AICPA). Accountants are required to act with integrity in all situations to prevent negative attention to the Accounting profession as a whole. It is suggested to read the Code to understand the standards and ethics to follow to avoid any issues with the AICPA. Certain Accounting bodies have the power to prevent you from practicing in Public Accounting, so be sure you understand the consequences of certain actions.

Overworking

Perhaps the biggest mistake an Accountant can make is to overwork. Being a successful Accountant can be great, but at what cost? Memories with family and friends should not be missed to prepare a tax return. I’m not saying drop all your work and go hang out with friends, but instead plan your week, schedule vacations, avoid procrastination and find the right employer. Maybe a 8-5 is your thing, but maybe you are looking for more flexibility. There has been a major shift from the standard 8-5 to flexible schedules due to technological advancements. The right employer will care about your work-life balance over getting a tax return done. According to an article by Healthline, overworking can lead to decreased productivity and an increase in heart issues (Healthline). Take a break once in a while and use all your vacation time!

Summary

These are just a few tips for anyone in the Accounting profession. Accounting isn’t just taxes and numbers, it’s a professional, client-oriented field. Following these steps can aid in success, especially when first beginning a career. Accounting can seem daunting, but it’s just like any other profession, it takes time and experience to learn the ins and outs. Hope this helps!