This post is a follow-up to Michael’s
post about accountants not being bookkeepers, addressing the pop-culture
persona of an accountant.
Michael posted some pictures with his blog to complement his
description of how accountants are portrayed in pop culture. I understand that this celluloid persona of
an accountant can be a bit misleading; however, there is proper justification
for Hollywood (et al) stereotyping accountants in such a manner.
When I have asked students who are majoring in accounting,
or are perhaps interested in doing so, why accounting, they most commonly
answer that have confidence that with that degree they will more easily be able
to obtain future employment. Not too
unexpectedly, this is commonly followed up with a type of disclaimer or
justification as to why they would be willing to suffer such a boring job. Essentially they are justifying their choice,
to you and themselves, that accounting, albeit a terribly boring job, is
acceptable given the probability of employment.
Herein lay the tie that binds accountants together; risk aversion!
I suggest that there is nary a person in accounting that has
a high appetite for risk; or at least a high appetite for long-term risk. When we see Gordon Gekko, we see a man who,
like the accountant is not intimated by numbers, and also like the accountant in
his willingness to work long hours, but is unlike the accountant because his
job inherently has a much higher quotient of risk. Financial orb reading is high in risk both in
a daily fashion and in terms of job security.
Accounting is largely about risk aversion both in its duties and also
job security. Naturally, risk-averse
people are largely attracted to risk-averse jobs. I make the comparison between an
investment/finance career and accounting because I believe the people in these
careers are most alike, except for their risk appetite.
Now, in any job, in any group, in any category that a highly valuable sociologist (BTW, that
is absolutely sarcasm for those of who have never read anything of mine before)
might come up with to help us understand ourselves, or group dynamics, there
are ALWAYS going to be exceptions, but accountancy comprises risk averse people
on a grand scale because it is such a large part of the job.
As Michael addressed in his blog, there are different paths
within accounting that he or she might take.
These paths are typically the ones that are suggested to be more suited
for one personality versus another, e.g. external audit professionals spend the
vast majority of their time at client sites, therefore, it is expected that the
more extroverted accounting student take that path, whereas the more
introverted is better suited for the cubicle life of taxes. (Please note that this is within the realm of
public accounting, and not
with respect to doing taxes for individuals, i.e. H&R Block, etc.)
This blog is not to discuss which personality belongs
where. No, I am merely suggesting that the
pop-culture image of the accountant is not likely to change since the majority
of us within the field are risk-averse. Once
within the job, there are some, for whom the soporific lifestyle conflicts with
their inner caveman or cavewoman, so, after time, they develop a larger appetite
for risk. However, it is usually the
stalwarts, those staying long enough to become partner, I’ll say, who pass on
their risk aversion to their children.
And, as I discovered, accounting is frequently populated by 2nd,
3rd, or more generation accountants.
