Why Take High School Accounting Accounting Counts Business

Why Take High School Accounting? Accounting Counts

Business is the most popular field of study among undergraduates. U. S. Bureau of Labor Statistics Business majors were projected to see the most job offers in 2012. Of the 194 employers surveyed, 83 percent said they plan to hire bachelor's in business grads in 2012. Source: 2012 National Association of Colleges and Employers' (NACE) Job Outlook 2012 survey

Accounting and Business Majors “by the numbers” 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.

Best College Majors for Business Career Business Degree #1 Business Degree #2 Business Degree #3 Business Degree #4 Business Degree #5 Accounting Human Resources Business Admin. Marketing Management Information Systems http: //education. yahoo. net/articles/best_majors_for_business_careers. htm

Accounting and Business Majors “by the numbers” Indiana University at Bloomington estimated average salary of 2009 business majors working in Accounting Finance Management Marketing Operations/supply chain management Information and process management Business economics and public policy Average salary $51, 871 $52, 127 $48, 756 $44, 665 $48, 826 $53, 397 $53, 600 http: //www. ehow. com/facts_6972977_average-salary-business-major. html#ixzz 2 Mmkq. Lyen

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

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

Why the increased demand for accountants? 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: http: //www. startheregoplaces. com/why-accounting/salary-and-demand/

“Ripped from the Headlines” Forensic Accounting 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 forensic accountants.

Did You Know? 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.

So what does this have to do with taking high school Accounting? 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.

What will you learn and do in 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 Do Employers Want? 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

Analyze Financial Information Nike’s Annual Report Financial Information on a Spreadsheet

What if I am not going to be a business major? Many colleges and universities are requiring non-business majors to take a course in managerial accounting: Interior Design Architecture Engineering

Want to Own Your Own Business? 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.

Why is high school Accounting for everyone? Learn skills that employers need all employees to possess: Problem solving Critical thinking Organization, accuracy, and integrity Business ethics Technology