Accounting is simple math
Growing up I had learning disabilities. I was in “special” classes segregated from the “normal” kids. I had tutors and reading coaches. Yet, despite my struggles and general lack of academic success, I did manage to excel in one subject: Applied Mathematics (the class for people not smart enough for Pure Mathematics). Luckily for me, there’s a profession for people who get this basic type of math – it’s called accounting.
Despite common belief, accounting, from a mathematical standpoint, is no more complicated than grade 1 math (addition and subtraction). At its core, accounting uses basic math to solve everyday problems. For example, I have $10 in my bank account at the beginning of the month and I want to have at least $2 in my account at the end of the month. How much money can I spend during the month?
When people talk about accounting as if it’s this special subject matter that only a select few can understand, I get a false sense of pride. Don’t get me wrong, I am proud of my 3.8 GPA in accounting courses through University, being able to article at a big-four firm (KPMG), and passing the UFE (Uniform Final Evaluation) to get my Chartered Accountant designation. But I do realize accounting is not a special skill for a select few.
It’s not as if accounting can’t get complicated, it’s just that it doesn’t have to be. The reason I thrived in accounting is because I kept it simple. When it got complicated, I dumbed it down.
As someone who loves when people start their own business, it pains me to see business owners make poor financial decisions and name a lack of accounting knowledge as the source of their demise.
I want every business owner to know that accounting doesn’t have to be scary, that it is just simple math. I want to show them the satisfaction and independence felt in doing their own bookkeeping, and to give them the confidence and support to do so. These are the reasons why I built Intello.
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