You have been asked to speak at a career fair for high school students in your home town.
Specifically, you are making a presentation about your role as an accountant.
1. Describe for the students the primary objectives of accounting.
2. Explain the basic terminology of the accounting process or financial reporting.
3. Explain how accounting has affected your personal life emphasizing professional ethics.
4. Explain the role that technology has played in small business accounting.
Please include any references or in-text citations.© BrainMass Inc. brainmass.com March 4, 2021, 11:19 pm ad1c9bdddf
Accounting is the language of business. It helps to communicate what resources a business has, how well they handled their resources over the period and whether they were able to create new resources during the period (profits and gains!).
The basic terminology includes what you own, called assets, what you owe to vendors and banks, called debt, and the difference between these, which is net worth, called equity. Each period, the transactions are recorded in the records of the firm and summarized into the cash transactions for the period, in a report called the cash flow statement. Also, the transactions for the period are summarized by all the products and services provided to customers, called sales, and the resources consumed in provided the products and services to customers, called ...
Your tutorial is 506 words and gives you a presentation that is geared for a high school audience.