DOES ACCOUNTING ADD VALUE TO BRITISH BUSINESS?
The first point to highlight is the difference between accounting and finance. (See Exhibit 1.) Our concern is with accounting. The UKs modest position in the international wealth league may be due to large numbers of accountants who do not add value. There are more accountants relative to the population of UK than is the case than in other countries. (See Exhibit 2.) The orientation of accountants tends to favour introspective retrospection. This is substantiated by Jungs Theory of :Personality Types (see Exhibit 3) which may be one factor relating to the unfortunate stereotype of the accountant (see Exhibit 4.) The implications of accounting orientation is evident from Exhibit 5 which shows the contrast between left-handed (i.e. marketing-oriented) companies and right-handed (accounting-oriented) companies. The difference between looking inwards to cut costs as a primary means to performance improvement is diametrically opposed to an orientation which focuses on meeting and beating t
