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 today’s business world. Specifically, you have been asked to explain why there are two types of accounting—financial and managerial—and why they are both relevant to a company’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 today’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.

Required:

1. Prepare a detailed outline identifying your topic of discussion.