“Every day in life there are challenges — whether you are an accountant, a race car driver, or whatever you do.” — Justin Allgaier, NASCAR driver.

An aspiring accountant who job shadows a professional in the field might get the impression the work is as stimulating as watching paint dry. It’s a limited view of the job, that is doing the “donkey work,” establishing processes to perform the task of executing, recording, and then reporting transactions in a “user friendly” financial statement. The term, “Bean Counter” — one obsessed with detail, is a label often used in reference to number crunchers, whether the title be chief financial officer, bookkeeper, or volunteer. The essence of working with numbers goes well beyond that.

“Being able to think out of the box presupposes you were able to think in it.” — Bob Lutz, author, “Car Guys vs. Bean Counters.”

The perception of “boys in the backroom, pulling purse strings” impacts attitudes and understanding of the role of accounting. “Big picture” people are skeptical of the motives, finding budgets a constraint on creativity. Many who serve as directors will unconsciously reveal their lack of knowledge by using colloquialisms when discussing financial matters, shoestring budget, in the ballpark, and rainy-day fund. Best practices would be to utilize financial data in the planning process and follow a policy of full disclosure.

“Dear Shareholders, McFamily, and our Customers,” — Chris Kempczinski, CEO, begins his letter in the 2019 McDonald’s Corporation Annual Report. Veneered with glossy pictures and optimism, corporate entities present financial statements, with highlights and supporting schedules — a more detailed Form 10-K is prepared for the Securities and Exchange Commission. Units of government have reporting requirements as well. The development and usage of accounting standards has contributed to the stability of the country.

Analysis of numbers is for an organization, what blood work is to the body — it discloses status at a point in time, patterns of the past, and threats for the future. An annual report is an opportunity for the members to do an evaluation for the benefit of stakeholders on how its values are served and the mission being met. Alpena has hundreds of organizations that handle money — clubs, recreational, religious, and charitable, all could benefit by being introspective.

When we think of Alpena, what it was and what it has become, it is often in terms of the roles people played in business, public service, and philanthropy. “Bean counters” have been instrumental in laying foundations of our community, and Jim Arbuckle was one of the finest. An advocate of financial reporting in every activity he was involved, when he reached for his pocket calculator, a tough question soon followed.

Jim Arbuckle’s obituary was posted in the Alpena News on April 6, 2020, and by the end of the month, evidence of his impact. On April 30, 2020, a posting of the Alpena Community College Foundation’s scholarship funds was printed. Since 1982 the Foundation has 226 funds that provide nearly $250,000 in aid annually. His leadership in the early years made possible what the Foundation is today.

“It is well known that you can only manage what you can measure, and this is the job of accountants, it means they have a huge influence on governance.” — Kofi Annan, Secretary General, United Nations.