Point of view determines many things in how the story is told, and it is not something to approach without serious consideration. It arguably has as much to do with how a story unfolds as anything else.
For instance, if a story it told in first person past tense (and to write in any other tense is an exception to the norm), it is fair to assume that the speaker didn't die. If the point of view is third-person and limited to the protagonist (let's say Alex), then only the thoughts of Alex can be revealed. If Alex does not know, then the reader does not know. HOWEVER, the reader ought to know everything Alex knows, so if Alex is a spy or a criminal or in love with another character, the reader should know.
Picking the point of view, therefore, becomes a very, very important consideration. What is decided has far-reaching impact into how the story is told.
For example, consider how the POV impacts the following examples.
Example 1
Alex stood looking at the situation, a look of concern on his face. He rubbed his hand over the back of his neck and took a tentative step forward onto the creaking lake ice.
Ahead of him, the small child called for help once more. Alex took another step, and stopped, waiting for the cracking ice to reveal its strength before going further.
"Hang tight!" Alex yelled.
He looked back at the shore to see if the other first-responders were coming, shook his head, and took another step. Four steps later, Alex laid down on the ice and reached ahead for the child.
"Take my hand! Hurry!"
The child groped for Alex's hand, finally clasping it. Alex pulled the wet, cold child onto the ice, then pushed him for shore.
"Scoot toward shore. Go now."
Alex didn't move until the child had slid well away from the danger area, then he slid himself for shore. Once he was much closer, he rose to his feet and carefully took himself the rest of the way to where the rest of the rescuers waited.
Example 2
Looking at the situation, I couldn't believe what I saw, but the kid was yelling for help, so I knew I had to do something. When I stepped onto the ice, I thought for sure it was going to give way, but it held.
I could see the kid was scared, so I yelled. "Hang tight!"
Looking back up the shore, I could see my buddies from the unit coming down the bank, but they didn't seem to be in a big hurry. The grade was steep and covered with ice, so I figured they didn't want to end up in the lake. I moved four more steps over the creaking ice before I laid down to spread out my weight. I figured I was about to either die or save a kid, and I almost laughed.
"Take my hand! Hurry!"
I reached for the kid, but he just sat there like he was frozen, barely moving, until I wagged my fingers and got his attention. I finally got a grip on him, and his strength surprised me, so I was able to pull him out onto the ice.
I shoved him along the ice, toward shore, belly down. "Scoot toward shore. Go now."
I laid there on the ice after that, half-expecting it to crash through with me, until he was at least to the shallows, then I slid along after him a good distance before standing up. I got off the ice as fast as I could, to where the rest of the crew waited for me.
Clearly, the events are the same. However, the reader senses the scene quite differently because the point of view is different.
The Internet is, of course, full of many, many, discussions of point of view. Consider a couple of links:
http://thewritepractice.com/point-of-view-guide/
http://www.writersworkshop.co.uk/PointsofViewinFiction.html
http://www.writersdigest.com/writing-articles/by-writing-goal/improve-my-writing/what-point-of-view-should-you-use-in-your-novelSome Things to Consider
There are numerous things to consider in using point of view.
Switching Points of View
Changing points of view in a single work needs to be thought through carefully. Does the risk of offending or confusing the reader outweigh the value of having different points of view? The shorter the work, the less desirable it is to change points of view.
Dead Men Tell no Tales
If using first person, and you plan on killing off the point of view character, you will have some challenges to face.
One Character Can't Know Everything
If you are writing from a character point of view (even in 3rd person) that character can't know what the others are thinking. They can know what they are thinking and, therefore, the narrative can include that. They can only infer what others are thinking.
Just then, a clown jumped out of the refrigerator. Carl was shocked, but Maddy's expression seemed to reveal that she was horrified.Carl, in the example, is the narrator, and thus, the narrator can report what Carl felt, but only what Carl thought about Maddy's reaction.
Closing Thoughts
By this point in the history of the Internet, a writer could probably spend weeks, if not more, researching different ideas about point of view. Chances are, beginning writers could find a host of opinions and ideas that would help them guide their writing. Or confuse them.
A good beginner strategy is to jump in and just use first person or third person, limited, and start writing. Doing this will help them develop skills in sticking to a perspective that they can expand as they grow in their experiences.