Bookkeeping And You.

[Music] let's look in on the high school bookkeeping plans 150 that's a lot of different kinds of jobs 850,000 that's a lot of people and a lot of jobs jobs for us who he graduate maybe for you kids me I'm going into politics I'm going to be a senator maybe Governor listen to him he won't catch me voting for you the honorable Henry Foster all right you'll see tell me what's the governor doing in bookkeeping class I've got a reason yes Henry has a reason for being here so have all the others a little investigation into those reasons should be interesting and might answer some of your questions about bookkeeping and you Howard Winslow for instance is studying bookkeeping because he's going into business he's going to work in his father's grocery store and eventually take it over he already works there after school and on Saturdays like any other business a grocery store buys and sells and it needs a record of every business transaction such as the sale of groceries to a customer receipts from cash sales are recorded in the cash register meanwhile Howard's father has been waiting on a customer who has a charge account this transaction is recorded on a salale slip which shows the customer's name what he bought and the amount he'll pay for all his purchases at the end of the month the day's work done Howard's thoughts turned to another sort of business transaction money paid out by the store paid to him for his work now Mr Winslow needs to know how much cash he has taken in and paid out during the day so he Rings up the totals of the day's cash transactions inside the cash register this information is printed on a slip of paper this slip shows the amount received on account from customers amount of cash sales and amount paid out watching his father wind up the day's business was what showed Howard how important it is for anyone to have a thorough understanding of bookkeeping before he steps out into the world of business besides the slips from the charge sales and the paper from the cash register I have a record of every other transaction the stubs in my checkbook are records of payments made by check while this invoice is a record of merchandise I've bought and must pay for and in addition to these immediate records Mr Winslow keeps a permanent record of all transactions for each day in this book he enters the amounts from the cash register slip the check stubs and the invoices this is what we mean by keeping records at the end of each month he prepares two reports which help him among other things to make plans for the future and to figure his income tax one of these reports shows income from the sale of groceries and his various costs for for merchandise rent insurance and utilities the difference between income and costs is net profit the other report shows the amount of cash on hand how much his customers owe him the value of the business and supplies the debts he must pay and how much the business is worth so Howard has seen how important bookkeeping is in operating a business his father has also explained that neglecting to keep adequate records is one of the most frequent causes of business failure so that's why Howard is in bookkeeping class and of course bookkeeping is just as important for people going into any other line of business for Stella who wants to be a nurse in a doctor's office for Mike who plans to run a filling station for Ruth who hopes to own a beauty parlor and for Bob who's going to be a farmer like Howard Bob is already learning his business and he's learned that farming is a business a farmer like a storekeeper or a manufacturer needs to keep accurate records in order to run his farm at a profit these records and reports also contain the information he needs to figure out his income tax which brings us from bookkeeping and business to bookkeeping and the family for filling out income tax forms is one sort of bookkeeping which goes on in nearly every home you know Ronald a family is like a small business we have our income and our expenses some things we buy for cash others on open charge accounts and some on the installment plan important transactions such as buying our home call for careful planning and the keeping of Records to be sure our plan is being carried out your knowledge of bookkeeping will also help you understand such records as these stockholders reports which help guide the family in investing its savings and bank statements which are a periodic report of our main receipts and expenses like a business a family which keeps regular accounts can plan better for the future and it's less likely to go broke well even your mother finds it helpful to understand bookkeeping yes as an officer of the Women's Club Mrs player helps manage the club's business Affairs and checks over the treasurer's report for Social Clubs also have their receipts and expenses and must keep books like any business organization ronal has already learned that he must manage his own financial affairs and keep track of his expenses if he's going to stretch his allowance through the whole week so he knows that when he becomes the head of a family and has to do this on a large scale bookeeping will be a mighty useful thing to know he's studying it for personal use regardless of the work he goes into Nancy is in class because she has plans for becoming a stenographer and advancing to be a secretary she knows that the dictation of a businessman often deals with problems involving bookkeeping principles so her book bookkeeping training will stand her in good stad she may have to type various kinds of business reports she won't need to know bookkeeping just to copy such reports but she will in order to check the accuracy of her work there's another reason why a knowledge of bookkeeping helps the secretary to get ahead she may be called upon to keep the personal bookkeeping records of her employer and in a small office possibly be the company's bookkeeper of course bookkeepers and a cants are the people who use bookkeeping knowledge and skill most directly even among machine operators it's those who have studied bookkeeping who are most valuable to the company and who therefore stand a better chance for promotion for many people bookkeeping is the all important first step toward achieving a place in the profession of accounting accounting not only entails maintaining all sorts of financial records but also advising the management in planning Financial and operating policies and in matters of production control then too there are many opportunities in the field of public accounting handling the accounting work of individuals and small concerns and serving large companies as an impartial and trustworthy Outsider no matter where Nancy may work an understanding of bookkeeping will help her to understand business in general this brings us to Henry who announced his intent ention of becoming a senator or maybe a governor so why bookkeeping because government too is a business a big business taxes are levied and collected to provide income equipment is bought and salaries are paid all these transactions must be recorded and reported this naturally creates many opportunities for bookkeepers and accountants in the federal state and Municipal governments and every person who holds public office must be able to understand and interpret such reports many of the issues in political campaigns involve business problems my opponent in this campaign tells you that he has operated our transportation system so efficiently that cash receipts have always exceeded Cash dispersements He neglects to tell you however that much of our transportation equipment is worn out and no reserves have been provided to buy new when issues like this arise not only the candidates but every voter needs needs to understand the principles of business and bookkeeping the best way to learn such principles is to see how they work out in practice and that's exactly what Henry and the others do in this bookkeeping class well someone seems to be absent today or perhaps this vacant seat is for you you've seen some of the many different ways in which bookkeeping will help these students now consider your own case can bookkeeping help you to get ahead in your chosen career can bookkeeping help you in your personal [Music] life