When you are an author (even if it's "just" the author of a paper or presentation in college) you demonstrate that you have developed some authority during your research process by citing authoritative sources.
Citing sources is a way to...
Give credit to others for their ideas.
By citing your sources you are showing respect for the people who created the information you are now using.
Create your own credibility as a scholar by showing you have consulted credible sources.
Citations help you leave a trail showing the research you have done to become knowledgeable about topic. If you have used credible sources, the conclusions you have come to are more likely to be trusted by others.
Tip: Don't think of citations, bibliographies, or reference lists as the end of the research process, even though that is where they appear in most papers and presentations. Finding and using sources happens all throughout the research process, so find and cite as you go along.