Why Take High School Accounting?

 Business majors were projected to see the most job offers in  Of the 194 employers surveyed, 83 percent said they plan to hire bachelor's in business grads in Source: 2012 National Association of Colleges and Employers' (NACE) Job Outlook 2012 survey

 Business-related fields account for slightly over 20 percent of all undergraduate degrees in the United States, the most popular field of study. Source: New York Times.  The most popular major group is business, accounting for 25 percent of all students. Census data report by Georgetown University in Washington.

 Business Degree #1Accounting  Business Degree #2Human Resources  Business Degree #3Business Admin.  Business Degree #4Marketing  Business Degree #5Management Information Systems

Indiana University at Bloomington estimated average salary of 2009 business majors working in Average salary  Accounting $51,871  Finance$52,127  Management$48,756  Marketing$44,665  Operations/supply chain management$48,826  Information and process management $53,397  Business economics and public policy $53,600

Accounting Major: Internal Auditing Manager Financial Controller Certified Public Accountant Business Administration: Sales Director Pharmaceutical Sales Rep Account Manager, Sales Typical Median Pay $85,900 $77,700 $59,900 $122,000 $ 84,400 $63,500 Source: PayScale.com

The Department of Labor and Statistics predicts employment of accountants and auditors will grow faster than average for all occupations through the year 2016.

 Increasing number of new businesses  Changing financial laws  Corporate governance regulations  Sarbanes Oxley Act of 2002  Economy will continue to expand around the globe Source:

 Wesley Snipes— 3 years in prison for not filing tax returns  Nicholas Cage— $6 million IRS charge in 2009 because of poor financial management  Marc Anthony— $5.5 million in back tax debt  Martha Stewart —Insider trading The increased numbers of financial crimes such as tax evasion, embezzlement, bribery, and securities fraud has increased the demand for forensic accountants.

 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.

 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.

 Understand the language of business.  Analyze business transactions.  Prepare and analyze financial documents.  Research business topics on the Internet.  Use spreadsheet software.

 People skills highly valued  Employers want new hires to demonstrate elevated soft skills:  work effectively across departments  build rapport with colleagues and clients  clearly explain complex financial information to a variety of stakeholders Source: Georgetown University Census Study

Nike’s Annual Report Financial Information on a Spreadsheet

 Many colleges and universities are requiring non-business majors to take a course in managerial accounting:  Interior Design  Architecture  Engineering

 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.

 Learn skills that employers need all employees to possess:  Problem solving  Critical thinking  Organization, accuracy, and integrity  Business ethics  Technology

 Personal Applications learned in Accounting  Budgeting  Payroll Concepts  Investments  Taxes  Banking

 Make your elective choices “count.”  Accounting counts—for everyone!