Principles of Accounting to Guide Your Career

Richard Dinkel, Controller and Chief Accounting Officer at Koch Industries Inc. recently wrote an article about his “Principles of Accounting”. In it he urges accounting professionals to use these as a guide to help them throughout their careers in this stimulating and rewarding career. We’ve highlighted some of his principles below.

“Understand what you’re being asked to do.” If you’re confused or unsure, ask as many questions as you need to make sense of what has been requested. If it still doesn’t make sense, don’t let yourself be manipulated into doing something that feels wrong or goes against your values.

“Mind your business” and “Don’t just measure what’s easy, measure what’s most important.” A great accountant does not only understand numbers and reports, but also understands the business and industry within which they work. They know their insight guides decision makers, and hence they strive to provide relevant and important information to those in charge.

“The explanation is more important than the answer.” An outstanding accounting professional is not only great with numbers, but is also a great communicator and has the ability to translate complex financial information into easy to understand terms.