This week I tell the story of the moment I decided to become an accountant!
VIDEO SUMMARY
So I thought I would make a more personal video this week on why I became an accountant. I have made all these YouTube videos on accounting and corporate finance, and I thought it might be helpful to explain how I got into accounting and why I like it so much. So I can actually trace my career path back to a specific moment in time. Now this happened earlier on in my career. One of my first jobs was working at a hotel. And this was one of the largest hotels in Los Angeles. Over 800 rooms, restaurants, ball rooms. I was the assistant to the General Manager and I did a little bit of everything in this hotel.
One of the jobs I took on was setting up a $100M credit line for the hotel. So if you know anything about the hotel business, it is high cash flow / low margin. You are bringing in large amounts of cash every night. And if you have positive cash flow, you can do a lot of cool things. Now the hotel had a lot of capital improvement needs, and so this new credit line was going to be a huge benefit. But the problem at the time was that everyone in accounting was too busy to set this up, and nobody could figure out how to do it.
So I took on the project. Now setting up a credit line is really about figuring out the paperwork. You need to gather the info for the bank and present it in a way that makes sense for them. You have to make the purchases in the right way, and then do funding draws, and then report on the results.
Now here is the cool part. As I was doing this work, I could see it impact the hotel in real tangible ways. This money allowed the hotel to purchase new bedding for all the guest rooms, flat panel TVs, new furniture in the lobby, and wireless internet in the whole hotel. And the result of this were guests were happier, employees were happier, and the room rates increased. So all this time I am sitting at my desk, just moving papers around, but the result was a really positive impact on my organization.
And that is the moment I fell in love with accounting. Because there are few positions in a company, that can have a positive impact on every person’s life in an organization. That is what accounting can do. And that is why I am accountant, and specifically why I do corporate accounting. I love being part of a company. Doing good accounting impacts the lives of every stakeholder in a million different ways.
I also want to say that I don’t blanketly recommend accounting as the right job for everyone. Trust me, I have met too many accountants who don’t like their jobs. And if you don’t like accounting, it’s miserable. If I would have any advice for anyone as you progress in your own career, is to look for these Aha moments. These moments when you are doing work that peaks your interest and you really find exciting and gratifying. Those Aha moments are roadmaps pointing you in the direction you should go for a fulfilling career. Accounting was that aha moment for me, and I love it. You need to find the career that is right for you.
Leave a comment down below letting me know what you think! If you find these videos helpful, please subscribe to my YouTube channel.
Neither Zach De Gregorio or Wolves and Finance Inc. shall be liable for any damages related to information in this video. It is recommended you contact a CPA in your area for business advice.