You have been asked to take part in an upcoming Young Professionals meeting in your area. The program planned for the evening will cover many aspects of todayâ€™s business world. Specifically, you have been asked to explain why there are two types of accountingâ€”financial and managerialâ€”and why they are both relevant to a companyâ€™s employees. The program director would like for you to cover differences between the two types of accounting as well as how each type plays a role within todayâ€™s competitive environment.
You will have 15 minutes for your presentation plus a 15-minute question-and-answer period at the end. Your audience is composed primarily of entry-level managers from all fields (marketing, human resources, production, etc.). Assume that they all have some familiarity with accounting, but few are practicing accountants.
1. Prepare a detailed outline identifying your topic of discussion.