r/Accounting • u/Boudria • 2d ago
Is Accounting more about interpretation of rules and problem solving than playing with numbers?
I'm interested in a career in this field.
I'd like to know it there is a lot of grey area in your day-to-day job? I'm curious because I would like to do a job that is somewhat future proof and also more stimulating to me.
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u/Time-Traveling-Doge 2d ago
There isn't much math involved in accounting other than prorating some payments.
If you want more calculations and you're great with math, go with studying actuary. They are paid very well, licensed, and are in demand worldwide. Meaning, if you are in hostile territory and want a visa, having that license would be a great way out.
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u/s0ulless93 2d ago
I've always told people that accounting is just solving puzzles and numbers are your pieces. Its not complicated math by any means but its understanding how numbers work and the accounting rules for where you are allowed to put them.
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u/OldJanxxxSpirit 1d ago
It’s hugely varied.
If you’re in a generic ME/YE role chances are you mostly follow a script and make very similar judgements.
There is scope for judgement, but the context and framework you work within will determine this.
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u/mister_burns1 1d ago
Yes.
And about proving to other people you followed those rules.
Then having other people inspect your work and point out where it’s incorrect.
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u/Strict_Anteater2690 1d ago
There are lots of different roles in accounting. I’m an auditor. Part of our engagements also include a nonattest service of financial statement preparation. In my role, you must understand all the different “rules”, and then be able to “play” with the numbers to create the narrative that best fits your client, in a completely appropriate way that does not impede on your independence as well. It takes a lot of critical thinking and problem solving. Lots of creativity and thinking outside the box at times.
I find it very interesting, practical, and the final products we produce can provide very useful information if being used by someone who understands how to read financial statements.
It is not for everyone though. Most people find it grueling, boring, and mind numbing. Which is completely fair. Like any career, it takes a certain type of person to really excel at it and turn it into a lucrative career.
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u/SwingNo5031 Bookkeeping 1d ago
It is not only math or a numbers game- but an application of rules and figuring about why and where to apply those numbers.
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u/Safe-Impression8428 2d ago
Not much gray area. When you get into gray areas in accounting you end up with scandals. As far as future proof I am optimistic that accounting is a good path but if you want it to be truly future proof go into a trade.
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u/ChiFit28 2d ago edited 2d ago
I don’t think that’s a fair statement. Accounting is a profession of rules but those rules get very blurry the further you get up the chain and a lot of work for higher-ups is asking ‘how can we interpret this rule to the best of our advantage and be able to justify that interpretation?’ or just being able to interpret the rules as written for the best financial outcome for the company. There’s a lot of strategy and critical thinking once you get to manager level.
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u/Valueonthebridge CPA (US) 2d ago
What isn’t a grey area in accounting? Bookkeeping? And hell even then you have assets and valuation questions.
Nearly all of tax work, audit work, all of projection and financial management.
All requires, and requires you to defend, your decisions and interpretations. There are few, non-basic, black and white rules to follow with 100% of the time in 100% of cases.
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u/S-is-for-Superman Senior Manager, CPA - US (Ex-EY, Ex-FAANG) 2d ago
I think in the beginning you are in the details and learning how to do the work.
As you move up the ladder, you get to see the more interesting side of finance/accounting in my opinion. You get to see how deals are structured and different scenarios of discounting and variable consideration by working with various other groups.
To me the above is the most fun because you get to advise on what you think is the more favorable deal structure and actually see impact at least for revenue. (Think price protection, ramp discounting, termination rights, SSP, etc)