The Celluloid Accountant

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 2^nd, 3^rd, or more generation accountants.