Accounting Counts

Why Take High School Accounting?

Mrs. WelshAugust, 2014

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%

Hiring in the accounting profession has remained strong despite the overall downward trend in US jobs growth

Accounting and Business Majors

“by the numbers”

Increasing number of new businesses

Changing financial laws

Corporate governance regulations

Sarbanes Oxley Act

Why the increased demand for Accountants?

Wesley Snipes Gets 3 Years for Not Filing Tax Returns

“Ripped from the Headlines”Forensic Accounting

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.

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.

Did You Know?

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.

So what does this have to do with taking 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

What will you learn and do in high school Accounting?

Analyze Financial Information

Best Buy’s Fiscal Revenue Mix

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

What if I am not going to be a business major?

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.

Want to Own YourOwn Business?

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 Investments Taxes Banking

Why is high school Accounting for everyone?

Final Thoughts . . .

Welcome to Accounting at Clinton High School

I truly believe that you will learn lots of useful stuff in this class and might even have some fun along the way!

Welcome!