Accountant Promotes Healthy Bottom Line

Accountant promotes healthy bottom line

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Accountant promotes healthy bottom line

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David Dahm FCPA is the CEO of Health & Life, a boutique Edit

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accounting and consultancy firm based in Adelaide that services the Australian healthcare industry, including public hospitals, state health departments, general practitioners, specialists and dentists.

In the 15 years since its inception, Health & Life has grown to a staff of eight, including two partners, and has catered to more than 1200 practices.

Members' Handbook

Read our interview with Mr Dahm about his far from conventional path to business ownership. After graduating from the University of South Australia, he worked for three years with Touche Ross (now part of KPMG) before a near-fatal accident in 1986 changed his perspective on life forever.

Interview

Q: How did your serious car accident several years ago affect your outlook on life?

A: The accident taught me that without your life, money has no real meaning or purpose and it is just a means to an end. For me it was important to make a difference to society rather than just to my own bottom line.

If you can find your real passion go for it. Then every day is a great day and you can overcome any hurdle, no matter how difficult things get. Just be persistent, never give up.

Q: From your own experience, what advice would you give to finance, accounting and business students who are trying to decide which direction to take after graduation?

A: Accounting is the best occupation in the world. You can do whatever you want and every industry needs you. It allows you to find your passion and specialise when you find out what you enjoy most — unlike many other professions, like medicine, which tends to lock you in.

Get as much diversified work experience while you are at uni. Start by finding out which industries you are interested in. Then, do the subjects that are most relevant.

Public practice is the best place to start because it gives you a bird’s eye view and it doesn’t lock you in to one industry if you aren’t sure.

It is the heart of business.

Together with client interaction, it’s better than getting an MBA because, if you get involved in your clients and the different industries they work in, you’re effectively holding down multiple jobs.

Q: How has the CPA designation helped you in your career?

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Accountant promotes healthy bottom line

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A: It opens doors, gets you the job interview, and better work conditions and remuneration. It gives you instant trust, respect and credibility.

More importantly, the professional back-up like the ethics committee, continuing education and networking opportunities have been crucial in difficult situations. To this very day my CPA membership is one of my most important business tools.

Q: Remuneration is obviously important, but what else should young professionals look for in a job?

A: Salary is important, but more so in your later years if buying a house or starting a family is important to you.

While you are young, good broad experience in the early years with good on-site training and mentoring is critical. The more you learn the more you earn.

Accountants in high demand are those that can look beyond the numbers and provide proactive and good strategic advice that actually improves the client’s bottom line — this goes beyond preparing tax returns and statutory accounts.

Being a team player and sharing knowledge with the firm is something employers do notice and it is also a good way to fasttrack remuneration and career opportunities.

Q: How highly do employers rate university grades during the recruitment process?

A: University grades are important; however, I am more likely to employ somebody who does not have straight As but has work experience and other extra-curricular activities. This makes them a well-rounded person.

Communication is critical and there is no point in being academically brilliant if your clients and peers can't understand or relate to you. It is more important to be a friendly, pragmatic problem solver.

I am more impressed by how people quickly understand and find out solutions to a problem — it shows they have an ability to think and are motivated and not complacent. Well-researched graduates are more impressive to me.

Further information read Interview: a healthy practice

visit the Health & Life website

Page last updated: Monday, 7 April 2008 Top

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