Accounting Unit One As a Career

Accounting as a Career

Accounting as a Career

Good evening students and administrators, my name is Laura Carroll and I am an accountant. I currently own my own firm in downtown Lakeland and have been a certified practicing accountant for over ten years. Thank you for coming to the career fair here at your school, Lakeland High, home of the fighting Dreadnaughts. I graduated from this school back in 1995. I hope my experience and information regarding accounting will help some of you in your future career choices.

The primary objective of accounting is to provide information that will help decision makers or the business owners in their decision making. The decision makers internally are the business owners and their management. The external decision makers are the labor unions, government entities, or the bankers. The stockholders of the business are trying to create more wealth in their stock. The costs, prices, sales volume, profits and returns on an investment are included in accounting. The business owners should know and understand these terms.

Accounting is the language of business. The information is used to measure and evaluate the business in terms of finances. The financial position of the business is the obligations and resources at any given time. The results of the company’s operations are the financial activities that would occur over a period of time. The software and accounting system used depends upon the size of the accounting firm. The system chosen (ex: QuickBooks) is used to create efficiency in the workplace. Persons who would use the financial reports are the owners, suppliers, customers, creditors, and the general public. The users are mostly interested in how the cash flow of the business is and if it is being paid in or out. The stockholders and creditors invested in the company want interest or payback on the loans and increases in their stock.

Today, there are many terms are used in the accounting process....