You have been asked to speak at a career fair for high school students in your home town. Specifically, you are making a presentation about your role as an accountant.

•Describe for the students the primary objectives of accounting.
•Explain the basic terminology of the accounting process or financial reporting.
•Explain how accounting can affect your personal life emphasizing professional ethics.
•Explain the role that technology has played in small business accounting.

Primary objectives of Accounting is to ensure a check and balance system within the organization and with outside entities such as banks.

Basic Terminology of accounting process is to ensure validity in the numbers

One must NOT be able to put themselves in a position where the benefits of a job can be "extra" in the sense of receiving money or goods or services from outside forces. ( you can go to any NYS ethics site for accounting and find info on this too)

in small business accounting there are now programs such as quick books etc where technology can help and enhance a small business in figuring out gross margin, what sells more, what sells less etc. It can also assist with paying bills in utilizing float etc

Title: Exploring the World of Accounting

Introduction:
Hello high school students! Today, I am here to talk to you about my role as an accountant and shed light on the fascinating world of accounting. Let's dive in!

1. Primary Objectives of Accounting:
Accounting serves several primary objectives:

a) Recording Financial Transactions: Accounting involves systematic recording, classifying, and summarizing financial transactions of an organization. This helps in maintaining accurate financial records.

b) Providing Financial Information: Accounting generates financial statements, including income statements, balance sheets, and cash flow statements. These reports help stakeholders make informed decisions about the organization's financial position and performance.

c) Facilitating Decision Making: By providing financial information, accounting helps in making informed decisions, such as investments, financial forecasting, pricing strategies, and budgeting.

2. Basic Terminology of the Accounting Process:
To understand accounting, it's essential to be familiar with some basic terminology:

a) Assets: These are resources owned by a company, such as cash, inventory, property, equipment, or investments.

b) Liabilities: These are the company's obligations, including loans, accounts payable, or accrued expenses.

c) Equity: It represents the residual interest in the assets of an entity after deducting liabilities.

d) Income: It refers to the revenues earned by a company through its regular operations.

e) Expenses: These are the costs incurred by a company in generating revenue.

f) Revenue: It includes all the income generated by a company from its operations.

g) Profit/Loss: It is the difference between revenue and expenses, reflecting the financial performance of a company.

3. Accounting's Impact on Personal Life & Professional Ethics:
Accounting principles also extend to our personal lives, particularly in regards to financial management and ethical behavior. Here's how:

a) Financial Management: Accounting principles can be applied to personal finances, including budgeting, tracking expenses, and managing investments. These practices contribute to financial stability and long-term planning.

b) Professional Ethics: Accountants are bound by a code of ethics that emphasizes integrity, objectivity, confidentiality, and professional competence. By adhering to these principles, accountants ensure trust in financial reporting, benefiting both organizations and individuals.

4. Role of Technology in Small Business Accounting:
Technology has revolutionized small business accounting, enabling several benefits:

a) Automation: Advanced accounting software automates manual tasks like data entry, bank reconciliations, and financial reporting, increasing accuracy and efficiency.

b) Streamlined Processes: Technology streamlines processes, such as invoicing, expense tracking, and payment collection. This allows small businesses to focus on their core operations.

c) Real-time Reporting: With digital accounting tools, businesses can access real-time financial information and reports, providing valuable insights for decision-making.

d) Enhanced Security: Technology provides robust security measures to safeguard sensitive financial data, minimizing the risk of fraud or data breaches.

Conclusion:
Accounting plays a vital role in the business world, offering a dynamic and rewarding career path. By understanding accounting objectives, terminology, ethics, and the role of technology, you gain a comprehensive view of this field. I hope this presentation has given you a glimpse into the exciting role of an accountant and its impact on both businesses and personal life.