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.

Question

•Describe for the students the primary objectives of accounting.
•Explain the basic terminology of the accounting process or financial reporting.
•Explain how accounting can affect your personal life emphasizing professional ethics.
•Explain the role that technology has played in small business accounting.

Answer 1

Primary objectives of Accounting is to ensure a check and balance system within the organization and with outside entities such as banks.

Basic Terminology of accounting process is to ensure validity in the numbers

One must NOT be able to put themselves in a position where the benefits of a job can be "extra" in the sense of receiving money or goods or services from outside forces. ( you can go to any NYS ethics site for accounting and find info on this too)

in small business accounting there are now programs such as quick books etc where technology can help and enhance a small business in figuring out gross margin, what sells more, what sells less etc. It can also assist with paying bills in utilizing float etc