Listening Task 2: Why is an accountant important?

Listen to the video clip and answer the questions.

Accounting is cooler than you think.

It's way more important, too, and here's why.

Let's say you work for a company that makes ballpoint pens.

You guys are good at making pens and you're turning a ……………(1)……………. .

Now, let's say you're in a meeting and someone asks, "Hey should we make markers, too?"

Well, your factory can produce them and your marketing team can sell them, but should you make them? Or should you just keep making pens?

• balance sheets

• financial data

• important

• asset

• profit

Everyone turns to the boss and the boss, if he's smart, will turn to the accountant.

Yup, the accountant.

At this point, the accountant might just be the smartest person in the room and certainly the most………………(2)………………….

The accountant will talk with key partners like the marketing, sales, manufacturing, and finance teams to determine fixed and variable costs, market size, and potential revenue.

• balance sheets

• financial data

• important

• asset

• profit

She'll build a pro forma income statement to forecast profits and to determine how long it will take to recoup the initial investment and she'll consider the impacts on the ……………(3) …………….. that investors use to assess the financial health of your company.

Assuming it all looks good, she'll determine that making markers is a sound decision, and then she will tell the boss, very clearly and concisely, to go forth and conquer.

• balance sheets

• financial data

• important

• asset

• profit

It's time to celebrate.

You guys are making markers because making markers makes sense and dollars.

Accountants are experts at analyzing complex …………(4)…………….making heads and tails of it and helping business leaders make smart investment decisions based on what the financial data says.

• balance sheets

• financial data

• important

• asset

• profit

It's why accounting is the language of business and why knowing it can help you become a bigger …………..(5)…………..for your company.

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• balance sheets

• financial data

• important

• asset

• profit

Listen to the clip and answer the questions.

6) Due to the talk, who is the smartest in the company?

• a) boss

• b) an accountant

• c) manufacturing

• d) marketing sales

7) Due to the talk, what is the accountant responsible for?

• a) making pens

• b) talk with key partners

• c) determine instead of the investor

• d) to tell the boss

8) What is the new product of the company in the example?

• a) cars

• b) pens

• c) markers

• d) business school

9) Why does the accountant need to talk to others?

• a) to avoid being lonely.

• b) to determine fixed and variable costs, market size, and potential revenue.

• c) to make a sound.

• d) to search for information about other departments.

10) Due to the talk, to what is accounting compared?

• a) a language of business

• b) making markers

• c) recoupment

• d) the brain