When I first saw the headline ‘Death by Accountancy‘ I assumed this would be an item for my blog covering  The lighter side of accountancy and tax. But I’m afraid it’s a further lesson that Accountancy is about more than just numbers.

The article headed ‘Death by Accountancy‘ argues that accountants cannot afford to ignore the need for strong personal and business focused skills when advising on restructuring plans.

The article looks at the recent failure of MFI and suggests that:

it wasn’t the recession that killed MFI. It’s death warrant was signed by its own executives in a restructure some five years earlier. Like thousands of other companies, it has been killed by the absurd pretence, cemented in MBA orthodoxy, that a company consists of little more than costs and resources, and that people and skills represent the ‘soft stuff’.

Continuing in a similar vein:

In truth, the company was destroyed by a cost-reduction programme that took no account of staff skills and customer service.

I wonder if the common experience of accountants in practice (whereby all the emphasis is typically on technical competency) has an impact on how they view businesses in the commercial sector? And if so, are there any lessons that can be learned?

What do you think?

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