{"id":12230,"date":"2022-05-27T12:14:27","date_gmt":"2022-05-27T12:14:27","guid":{"rendered":"https:\/\/envoice.eu\/?p=12230"},"modified":"2024-01-31T12:43:28","modified_gmt":"2024-01-31T12:43:28","slug":"is-accounting-stressful","status":"publish","type":"post","link":"https:\/\/envoice.eu\/en\/blog\/is-accounting-stressful\/","title":{"rendered":"Is Accounting Stressful?"},"content":{"rendered":"

Many accountants find their careers rewarding, but it can also be stressful from time to time. Their worries also vary, from deadlines to overtime to heavy workloads to unrealistic expectations and demands from their superiors.\u00a0<\/span><\/p>\n

However, this is not surprising since they are responsible for accurate reporting and processing of financial information. Accountants may incur penalties or, worse, the revocation of a CPA license. One small mistake can already have serious consequences.<\/span><\/p>\n

In this article, you will know whether an accounting job is stressful. If yes, how stressful can an accounting job be? Is it worse or better than the school setting?\u00a0<\/span><\/p>\n

Keep reading until the end as we also share tips on how to lower accountant stress levels.\u00a0<\/span><\/p>\n

Let\u2019s get started!<\/span><\/p>\n

Is Accounting a Stressful Job?<\/span><\/h2>\n

Yes, accounting can be stressful.<\/span><\/em><\/p>\n

Helping people file their tax returns can be demanding because accountants usually have to finish the task within a four-month window.\u00a0<\/span>Managing the finances of a big company can be stressful as the tiniest mistake can likewise cause serious ramifications.<\/span><\/p>\n

The Chartered Accountants Benevolent Association (CABA), an occupational charity that supports the chartered accountancy profession, even conducted a survey. According to the results, <\/span>only two percent (2%) were unaffected by job stress<\/b>. (1)<\/span><\/p>\n

1. Accountants report stress daily at work<\/h3>\n

The same survey revealed that <\/span>98 out of 100 accountants were stressed at work, <\/b>even before the Covid-19 pandemic wreaked havoc.\u00a0<\/span><\/p>\n

It also brought many problems and worries, such as how businesses can thrive in a work-from-home setup.<\/span><\/p>\n

Of the 98% who are stressed at work, 31% <\/span>said they feel stressed daily<\/b>. This figure increased to 48% for accountants between 18 and 34 years of age and 45% for those between 35 and 44 years old.\u00a0<\/span><\/p>\n

Some 29% said the difficulty of maintaining a work-life balance was the main cause of their stress. Meanwhile, 37% cited their job as the culprit of stress.<\/span><\/p>\n

Thirty-three percent claimed they even check emails while on annual leave or sick, and 38% said they are already outside work. Most people, accountants are no different, they are getting overwhelmed by the deluge of emails they get every day.\u00a0<\/span><\/p>\n

2. Accountants work long hours<\/h3>\n

Long hours<\/a>, workload, and work complexity have contributed to more than half suffering from burnout and other mental health problems (nothing too serious).\u00a0<\/span><\/p>\n

Accountants have increased workloads at certain times of the month that require them to put in extra time.\u00a0 This affects family time and personal commitments.\u00a0 \u00a0These long hours can be difficult to manage and accountants report feeling stressed out by trying to balance responsibilities.\u00a0<\/span><\/p>\n

3. Being overworked and office politics are major sources of work-related stress among accountants.<\/span><\/h3>\n

Among the issues that contributed to the high-stress levels of accountants, these two causes stand out: being overworked (41%) and office politics (33%).<\/span><\/p>\n

Other reasons why they are stressed at work are feeling undervalued (29%), having to attend too many meetings (28%), and failure of the company to increase rewards or pay (29%).\u00a0<\/span><\/p>\n

The data clarifies that firms should actively encourage their staff to observe a healthier work-life blend.<\/span><\/p>\n

4. Younger accountants are most stressed<\/h3>\n

Another survey done by the Monash Business School shows that younger accountants, females, or those who work for a consulting or law firm <\/span>suffer the most stress<\/b>. (2)<\/span><\/p>\n

This study is quite understandable, as young people don\u2019t know what their bosses want from them. As a result, they won\u2019t have a clear sense of their duties at work.\u00a0<\/span><\/p>\n

This can heighten their tension or cause them anxiety because they don\u2019t feel like they have full information.<\/span><\/p>\n

The Monash survey involved 260 professional accountants with at least five years of experience. To determine whether their mental health is flourishing, moderate, or languishing, their overall well-being is being checked.\u00a0<\/span><\/p>\n

The researchers also measured the accountant’s psychological, emotional, and social health.<\/span><\/p>\n

5. The stress level still depends on the person<\/h3>\n

Still, the stress level largely depends on the person, work environment, and role at work.<\/span><\/p>\n

Many accountants enjoy the high-stakes aspects of their work<\/a>. Some accountants say that outside the busy tax season, they have a healthy work-life balance and enjoy the flexibility of their work.\u00a0<\/span><\/p>\n

Meanwhile, other accountants love working for small businesses because they can see the fruits of their labor or because they get to work with a team.<\/span><\/p>\n

This means that at the end of the day, an accountant’s stress level will depend on how they respond to pressure and how much they find joy in the detailed, hard work.<\/span><\/p>\n

Related Post: <\/span>The 10 Best Accounting Podcasts for Accountants and Bookkeepers [2022 list]<\/b><\/a><\/p>\n

After learning the answer to the question, \u201c<\/span>Is accounting stressful?<\/span><\/i>\u201d we\u2019ll proceed with the strategies to regain a sense of normalcy in your life.\u00a0<\/span><\/p>\n

\"\"
Source: Pexels<\/figcaption><\/figure>\n

8 Tips for Accounting and Finance Teams to Reduce Stress<\/span><\/h2>\n

1. Make a list of your accounting task or create a flow state<\/h3>\n

One way to lower the stress level if you work in the accounting and finance department is to list your accounting tasks.\u00a0<\/span><\/p>\n

A to-do list should not be just something you have to do for the sake of doing it but should be something to help you be more organized and focus first on the more pressing matters.<\/span><\/p>\n

Having a list of accounting tasks is very important, especially during the busy season<\/a>, to see what needs to be done in the coming hours or days.\u00a0<\/span><\/p>\n

Once some of the items are checked, you can already move on to the next matter.<\/span><\/p>\n

You can <\/span>use a block of time for a flow state <\/b>in your schedule. We refer to this as <\/span>focus hours<\/b>, where you can work with virtually fewer or no distractions.\u00a0<\/span><\/p>\n

It is easier to complete your task without delay if you have an accountant flow state.\u00a0<\/span><\/p>\n

For most accountants, their flow state is during the morning. As soon as they enter the office, they lock their door and finish the work. Create an accountant flow state and know how efficient a couple of hours can be without distractions.<\/span><\/p>\n

2. Delegate your obligations and learn to say \u201cno\u201d<\/h3>\n
\"Two
Source: Pexels<\/figcaption><\/figure>\n

CPAs are regulated and licensed by their state boards of accountancy.\u00a0<\/span><\/p>\n

For instance, the American Institute of CPAs must follow a rigorous Code of Professional Conduct, which means they act with objectivity, competence, due care, and integrity.\u00a0<\/span><\/p>\n

But just because you know how to do things as an accountant doesn\u2019t mean you have to do it yourself. You might feel overloaded, especially if working in a large financial services division and dealing with a superabundance of weekly data. That\u2019s where the value of delegation comes in.<\/span><\/p>\n

Delegating your task as a Certified Public Accountant or someone in the finance department is an important skill to free up time and achieve more important tasks. Keep in mind that the world will not end just because you cannot get everything finished.<\/span><\/p>\n

As for the young professionals who attach bragging rights when overworked, they may increase their stress levels. So, another essential skill to learn is to say “no” to impossible deadlines or others without antagonizing people.\u00a0<\/span><\/p>\n

Be honest with your boss about what you can accomplish for a certain period, or tell your clients or team should you need to postpone a deadline.\u00a0<\/span><\/p>\n

[Related Post: <\/span>How to Deal With Difficult Accounting Clients?<\/b><\/a>]<\/b><\/p>\n

3. Set specific times to review emails<\/h3>\n

Accountants may be asked to compose different written documents, so their job is not all about numbers.\u00a0<\/span><\/p>\n

For instance, they may prepare technical documents, like financial reports or analyses of business performance. Accountants may also have to respond to emails.<\/span><\/p>\n

To minimize mail disruption and spend more time on more important things, we suggest you set specific times to review your emails.\u00a0<\/span><\/p>\n

Some examples include:<\/span><\/p>\n