2.0 Why It Matters

As a teenager, Derek loves computers. He also enjoys giving back to the community by helping others. Derek understands that many senior citizens live far away from their families, resulting in infrequent visits and loneliness. This summer he is considering combining both things he enjoys by working with the local retirement center. His idea is to have workshops to show the senior citizens how to connect with their families through the use of technology. The director of the retirement center is enthused about Derek’s idea and has agreed to pay him for the services. During his visits, he will set up tablets and then show the seniors how to use them. Since he lives nearby, he will also provide support on an as-needed basis.

While he is excited about this opportunity, he is also trying to save up money for college. Although the retirement center will pay him for the workshops, he knows the investment in providing tablets will be expensive, and he wants to ensure he can cover his costs. A neighbor who works in banking suggests that Derek get a small loan to cover the costs of the tablets and use the income he earns to repay the loan. Derek is excited by the idea but is anxious when his neighbor mentions he will have to provide the bank monthly financial information, such as checking account and other financial statements. While he enjoys technology and helping others, he is unfamiliar with financial statements. Derek decides to learn more about how financial statements will help both him and the bank make sound financial decisions.

Karin has lived on the family farm her whole life and at the age now of eighteen the thought of going off to college is a little scary. She has chosen to go to a college that is out of state but provides the career path she has dreamed of for many years. She has sat around the table for years listening to her parents and grandparents talking about how the crops are doing and how the winter calving did. As she listened she realized how important information was on both the operational and financial decisions her family had to make. She grew up knowing she wanted to be an accountant with management skills to come back and help her family provide for each other and the families that depended on their farm.