Finance and Accounting
Whether your goal is to be an Accountant or other business professional, manage a budget, have your own small company or simply to better understand the companies included in your IRA or 401(k) retirement plan, it is important to understand and be able to articulate what accounting is and what benefits it provides.
Accordingly, I would like you to watch the “TED Talk” video noted below. In this video, a young man describes an idea he had and what he did about it. In implementing his idea, he created a company (Headboy Industries, Inc.). And while it is not described in the video, in order for that company to function properly either Mr. Marishane, or someone close to him, must have created a proper structure for the company to operate.
watch this video
Details of the Assignment
Assume you have been hired as a “consultant” to help advise this new company in its early stages. Your job is to convince Mr. Marishane of the importance of creating a proper accounting system for his company. In accomplishing this task, you must explain to him:
? What accounting is,
? Why accounting is needed,
? What benefits he (his company) will derive from implementing a good accounting system, and
? A general overview of how it will operate.
Now, as you may imagine, Mr. Marishane is a very busy young man. So he has asked that you present this information to him in a very specific way (do not forget your name as well):
To view, place cursor over link and click.
? One page typed memo ? Font: Verdana
? Font size: 10 point
? Margins: 1” (all sides)
? Line spacing: 1.15
? Due date: See the syllabus
Also remember, at the time Mr. Marishane developed his product he was 17 years old. While it is apparent he was an exceptional young man, he was still only 17 years old and he had no familiarity with accounting. So write your presentation using language and terms that, while still professional and appropriate, a young person would understand (i.e. write in your own words).
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