They go to jail - or at least that's what Dr. O told me upon my third attempt at Managerial Accounting. Here's how the conversation went: Dr. O: This is the way you apply this to the balance sheet (scribbling on board)
Andrea: (hand raised, while others in class roll their eyes) Dr. O?
Dr. O: Yes, Andrea? (slight sigh of annoyance)
Andrea: If you swapped step 3 and 5 and deleted step 8 you would get the same answer in half the work. Why do you have to do all the extra steps?
Dr. O: Andrea - creative accountants go to jail. Just do it the way it's written.
Andrea: (grumbling under her breath) I hate accounting.
I think the world is in need of creative accountants. Not ones who will manipulate the rules like I tried to do, but accountants who can see the big picture, understand the tax implications and honestly, legally and ethically find ways to save me money on my tax liabilities. No one wants a bean counter - I can buy software for that. What I need is an accounting consultant (hard to find, by the way).
I didn't come up with this idea on my own. I'm currently reading Dan Pink's book A Whole New Mind: Why Right-Brainers Will Rule The Future (excellent read - you should check it out). Next on my list is Richard Florida's Rise of the Creative Class.
Basically, Pink states how we are leaving the Information Age and entering the Conceptual Age where the ability to create, see the big picture, make connections, etc. will be necessary for survival because bean counting type jobs will be either replaced by a computer or shipped overseas for a 16th of the cost of doing it domestically.
So, in this new Conceptual Age what happens to creative accountants? They get hired.