Chapter 1 10/2/20151. List five different careers you might want to pursue or learn more about. Choose any career of interest, not just those involving.

Chapter 1

04/19/23 1

List five different careers you might want to pursue or learn more about. Choose any career of interest, not just those involving accounting.

A successful career begins with learning about yourself.

Jobs are simply work for pay

Careers are built on a foundation of interest, knowledge, training, & experience.

1. Have you ever taken a class or a session about careers? What did you learn?

04/19/23 2

• Who are You? Do some soul searching. The more you know about yourself, the easier it will be to make career choices.

• Consider the following: interests, skills values, lifestyle, and personality type

– Skills & Traits (p. 7 chart)…will be needed for first assignment.– Skills – activities that you do well– What skills and traits do you have?

• Values – principles you live by & beliefs that are important to you…values change as you get older. Most people have a basic set of values that they follow throughout their life.

– Examples: – Responsibility– Achievement– Relationships– Compassion– Courage– Recognition

04/19/23 3

Lifestyle – way you use your time, energy, & resources.

◦ What’s really important to you?

◦ Do you want to go for the big bucks?

◦ Do you want to live in a big city with endless activities or a small town where everyone knows your name?

◦ Do you want to collaborate with a group of people or to work solo?

04/19/23 4

Personality – set of unique qualities that makes us different from all other people.

Making career decisions◦ Research the possibilities

Guidance counselors Contacts (networking) Library Internet Organizations

04/19/23 5

Map out a plan◦ Make a list of careers researched and compare

possibilities

Education

On-the-job training

Internships

04/19/23 6

Accounting isn’t just adding & subtracting

◦ Accountants handle a broad range of responsibilities make business decisions, and prepare and interpret financial reports.

◦ These are skills that successful businesses cannot do without

04/19/23 7

What Career Opportunities Exist in Accounting?

Where Accountants Work?

◦ For-profit businesses◦ Not-for-profit organizations◦ Public accounting firms

04/19/23 8

Operate to earn money for their owners (majority of U.S. firms are this way)

Accounting clerk – entry-level job that can vary from specializing in one part of the system to doing a wide range of tasks.

04/19/23 9

Operate for purposes other than making a profit

Most not-for-profit organizations have the goal of balancing their income with expenses rather than earning a profit for their owners or investors

Some “non-profits” get their income from donations

04/19/23 10

Provide clients a variety of accounting services including the independent audit◦ Not done by company employees…CPA’s

conduct the audit An accountant who has met certain education

and experience requirements and passed a national test. CPA’s are licensed by the states.

Audit – review of a company’s accounting systems and financial statements to confirm that they follow the generally accepted accounting principles

04/19/23 11

How would you as a member of the public use accounting information?

Public accounting firms have many job opportunities besides auditing…

◦ Financial planning, preparing tax returns, forensic accounting (take cases that involve issues like fraud or employee theft)

04/19/23 12