Copyright Goodheart-Willcox Co., Inc. Section 2.2 Young Adult and Family Finances 55 may be another expense, especially if there are children involved. A divorce or separation may require additional furnishings and moving costs. Personal Financial Problems There may be times when financial disaster strikes because of circumstances beyond your control. A personal financial crisis is a major problem that changes a person or family’s lifestyle and future. Examples include job loss, divorce, death, disability, serious illness, and natural disasters. When such events occur, you may need to make some serious changes in your financial planning and behavior. If debt problems reach the crisis stage, you need prompt, drastic action to correct the situation. Handling Financial Problems When a personal financial crisis arises, start by discussing the problem with adult members of the household, including older children. Make sure that everyone understands the potential impact on their standard of living and what they can do to help. For example, college-bound teens may need to consider work/study programs or a community college near enough to allow living at home while going to school. Knowing they have a stake in resolving the crisis will encourage cooperation of all family members and reduce conflict. Make a list of financial and nonfinancial resources available to you. In analyzing your situation, consider the following steps to minimize negative financial consequences Exploring Careers Accountant Most companies are in business to make money. As a result, knowing the financial standing of a company is important information. An accountant is responsible for understanding and assessing this information. Accountants also analyze financial information so they can advise business owners and managers. Business owners rely on accountants to help them make sound business decisions. Examples of tasks accountants perform include: • gather information to prepare financial reports • create and maintain financial reports • analyze financial reports to create forecasts and budgets • communicate the financial standing of the company to managers or business owners • compute taxes owed and prepare tax returns Accounting positions require a bachelor degree in accounting, business administration, or a related field. Many companies require applicants to have a master degree in a related field as well. The Certified Public Accountant (CPA) certification is also required for many accounting jobs.