What A SOX Specialist At Stripe Wishes They Had Known Before Entering Accounting
Allison, a SOX Specialist at Stripe, reflects on the unexpected ambiguity in the role, stating that "it's not always black and white," unlike the clear-cut nature of accounting principles learned in school. This highlights the frequent need for judgment and decision-making within a "gray area" of optionality, a crucial lesson for aspiring professionals in this field.
Ambiguity in Accounting, Judgment and Decision-Making, Gray Areas in Finance, Optionality in Solutions, Real-World Application of Accounting Principles
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Allison Minarcik
SOX Specialist
Stripe
University of Arizona, 2016
University of Arizona Masters of Accounting, 2017
Accounting
Finance (Banking, Fintech, Investing)
Finance
Took Out Loans, Worked 20+ Hours in School, Greek Life Member
Video Highlights
1. Many accounting situations involve judgment and interpretation, not just following rules.
2. There is often more than one "right" way to approach an accounting problem.
3. Real-world accounting can involve gray areas and ambiguity.
Transcript
What have you learned about this role that you wish someone would have told you before you entered this industry?
What I learned is that it's not always black and white. A lot of times when you're in school and you're taking exams or learning about accounting, it seems like there's a correct answer.
If you're really into the accounting world, you might think, "This is the debit and this is the credit." But that's not always the case.
More often than not, there is a gray area or optionality in deciding the right path forward for you or the company. I wish someone had told me that it could be more judgmental in nature, rather than always black and white.