Accounting Counts Why Take High School Accounting?

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Presentation transcript:

Accounting Counts Why Take High School Accounting?

Accounting and Business Majors “by the numbers” Four of the top ten most profitable college majors are business related Average Starting Salary –Accounting $46,000 –Economics/Finance $45,000 –Business Administration $39,000 –Marketing $35,000

Accounting and Business Majors “by the numbers” 1 in 5 college students are business majors 226,000 new jobs are expected over the next decade in Accounting In 2007, CPA firms increased their hiring by 83%

Why the increased demand for Accountants? Increasing number of new businesses Changing financial laws Corporate governance regulations Sarbanes Oxley Act of 2002

“Ripped from the Headlines” Forensic Accounting Wesley Snipes Gets 3 Years for Not Filing Tax Returns The increased focus on and numbers of financial crimes such as tax evasion, embezzlement, bribery, and securities fraud has increased the demand for forensic accountants.

Did You Know? Phil Knight, Founder and Chair of Nike, is a CPA. Donald Trump majored in Economics. Arthur Blank, co-founder of Home Depot and owner of the Atlanta Falcons is a CPA.

So what does this have to do with taking high school Accounting? Business majors are required to take at least one, usually two, college accounting courses. Studies show that students who take high school accounting are more successful in college accounting. Decide if you are interested in business, finance and accounting before college.

What will you learn and do in high school Accounting? Understand the language of business Analyze business transactions Prepare and analyze financial documents Research business topics on the Internet Use spreadsheet software

Analyze Financial Information Best Buy’s Fiscal Revenue Mix

Financial Information on a Spreadsheet

What if I am not going to be a business major? Many colleges and universities are requiring non-business majors to take a course in managerial accounting: –Interior Design –Architecture –Engineering

Want to Own Your Own Business? All businesses need to keep accounting records. Entrepreneurs must understand the business/profit motive. Understanding accounting concepts help Entrepreneurs problem solve and make sound business decisions.

Why is high school Accounting for everyone? Learn skills that employers need all employees to possess: –Problem solving –Critical thinking –Organization, accuracy, and integrity –Business ethics –Technology

Why is high school Accounting for everyone? Personal Applications learned in Accounting –Budgeting –Payroll Concepts –Investments –Taxes –Banking

Register for Accounting! Make your elective choices “count.” Accounting Counts—for Everyone!