Accounting 1 Bellwork

1
Accounting 1Bellwork
3rd hour Make a list of at least three traits
that describe your personality.
2
Chapter 1

Section 2 Accounting Careers The Possibilities
Are Endless!

• What Youll Learn
• The variety of career opportunities available to
  accountants.
• The types of businesses and organizations that
  hire accountants.

3
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

Why Its Important Explore all the careers
available in accounting! You wouldnt want to
miss a great opportunity just because you didnt
know it existed.

• Key Terms
• accountant
• for-profit business
• not-for-profit organization
• accounting clerk
• certified public accountant
• public accounting

4
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

The Changing Horizon An accountant handles a
broad range of responsibilities, makes business
decisions, and prepares and interprets financial
reports.



5
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

Accounting Professions in For-Profit
Businesses For-profit businesses operate to earn
money for their owners.

• entertainment industry
• retailers
• sports industry
• computer technologies

6
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

Accounting Professions in Not-For-Profit
Organizations Not-for-profit organizations
balance their income with expenses rather than
earning a profit for owners or investors.

• United Way
• The Sierra Club
• Boy Scouts of America
• Government agencies

7
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

Accounting Professions in Public Accounting
Firms Public accounting firms provide accounting
services to their clients.

• Arthur Andersen
• Deloitte and Touche
• Ernst Young
• KPMG Peat Marwick
• Coopers Lybrand/Price Waterhouse

8
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

Accounting Clerk An entry level job usually
performing one or two accounting tasks. Certified
Public Accountant Or CPA, pass a national test
and meet specified experience and education
standards to become Certified to practice
accounting. Public Accounting Can be small or
large-from a local business specializing in
personal tax returns to an international firm.



9
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

Check Your Understanding
In business many decisions revolve around costs
and potential earnings. For example, accountants
might help create a picture, in numbers, of a
proposed new product line, or they might be asked
to suggest ways a company could cut its
production costs. In addition to skill with
numbers, what other skills do you think an
accountant needs?



10
Section 2 Accounting Careers The Possibilities
Are Endless! (cont.)
Chapter 1

Check Your Understanding
Assignment p17 Thinking Critically 1
2 Problem 1-3, Checking Out Accounting
Careers Math Worksheet Chapter 1 Diagnostic Test