Accounting Counts
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Why Take High School
Accounting?
Accounting and Business Majors
“by the numbers”
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• Four of the top ten most profitable college
majors are business related
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Average Starting Salary
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Accounting
Economics/Finance
Business Administration
Marketing
$46,000
$45,000
$39,000
$35,000
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Accounting and Business Majors
“by the numbers”
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• 1 in 5 college students are business
majors
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• 226,000 new jobs are expected over the
next decade in Accounting
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• In 2007, CPA firms increased their hiring
by 83%
Why the increased demand for
Accountants?
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• Increasing number of new businesses
• Changing financial laws
• Corporate governance regulations
• Sarbanes Oxley Act of 2002
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“Ripped from the Headlines”
Forensic Accounting
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Wesley Snipes Gets 3 Years for Not
Filing Tax Returns
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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.
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Did You Know?
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• Phil Knight, Founder and Chair of Nike, is a
CPA.
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• Donald Trump majored in Economics.
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• Arthur Blank, co-founder of Home Depot
and owner of the Atlanta Falcons is a CPA.
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So what does this have to do with
taking high school Accounting?
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• 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.
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What will you learn and do in
high school Accounting?
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Understand the language of business
Analyze business transactions
Prepare and analyze financial documents
Research business topics on the Internet
Use spreadsheet software
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Analyze Financial Information
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Best Buy’s
Fiscal Revenue Mix
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Financial Information on a
Spreadsheet
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= Liabilities
Assets
Accts.
Rec.
+ Supplies
Prepaid
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+ Insurance = Accts. Pay.
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Cash
+
1,400.00
-100.00
1,300.00
200.00
1,500.00
-500.00
1,000.00
895.00
+
0.00 +
300.00 +
400.00 =
+
0.00 +
300.00 +
400.00 =
+
0.00 +
300.00 +
400.00 =
1,500.00
+
0.00 +
300.00 +
400.00 =
1,500.00
1,500.00
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1,500.00
What if I am not going to be a
business major?
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• Many colleges and universities are requiring
non-business majors to take a course in
managerial accounting:
– Interior Design
– Architecture
– Engineering
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Want to Own Your
Own Business?
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• 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.
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Why is high school Accounting
for everyone?
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• Learn skills that employers need all
employees to possess:
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Problem solving
Critical thinking
Organization, accuracy, and integrity
Business ethics
Technology
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Why is high school Accounting
for everyone?
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• Personal Applications learned in
Accounting
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Budgeting
Payroll Concepts
Investments
Taxes
Banking
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Register for Accounting!
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• Make your elective choices “count.”
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• Accounting Counts—for Everyone!
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