The Costing Accounting Learning Curve

Feb 09, 2015

A learning curve is a complicated situation everyone faces at some point in their life. As smart as we are, and as much as we may know, no one knows everything. For some,  a learning curve is exciting and challenging, to others it’s frustrating and stressful. Learning curves sometimes occur when we least expect. For example, if you suddenly lose your job and are forced enter a new career. Or when we know a new project, a new baby, a new job, is coming around the corner and all we can do is anticipate how much we will have to learn.

Learning_CurveAlthough I do costing work, I still maintain several clients related to tax compliance. I do this because I really care about my clients and I just cannot let go! Being part of the tax world during our busy season is exciting, yet  tiring. When I see our new interns and remember what it was like for me many years ago, I think about how much there was to learn and the amount of information overload. It is interesting to watch them progress through the learning curve. At first, some are very timid and take time to catch onto things. Others have full confidence and more often than not, they realize they don’t know as much as they initially believe. In the end, they all either succeed or fail, it all depends on the learning curve.

From having experienced and watched it for many many years, I realize one common factor. The ones that are the most successful are the ones that are most willing to ask questions and seek out help. They reach out  because they want to understand – let that soak in a minute.

Those of you reading this are most likely not a tax accountant, but a controller, cost accountant, or maybe even a CFO. With a title like that you know everything about costing right? And not only do you know it all, you have time to implement it all. If you were arrogant enough to say yes to those two questions, then I am arrogant enough to ask, “then why isn’t it done?” I do not mean to say it’s a fallacy that you could have everything in place your company needs, but I do mean to say it certainly is not the norm.

I am a costing consultant. I do not proclaim to know everything, but I do know a lot. The biggest difference between you and I is, I am not operating your company. I can step back and just focus on what needs to be done, so you can close the gap on the learning curve.

I am sorry if I did not solve any of your technical issues this week with my blog, but this Valentine’s week snuggle in with this feel-good blog post.Remember, it is ok to ask for help. Surround yourself with people who have the experience to guide your business in the right direction.

Categories: Cost Accounting