Lesson 12: Financial Statements: Statement of Owners Equity
Duration of Days: 1
Lesson Objective
Calculate the overall value of the owner's equity in the service business.
How do you determine how much stake an owner has in his business at the end of a fiscal period?
Statement of Owner's Equity
CTE Business & Finance Technology
D. Financial Reports: Develop an understanding and working knowledge of financial statements.
19. Describe the information provided in each financial statement and how the statements relate.
HS.CTE.2C - 2C. Apply a solution using evidence and reasoning
POG:
I am a LEARNER: Master fundamental skills in core subject areas
I am a THINKER: Critical thinking, independent thinking
The SAT measures student proficiency in math reading, language, and writing. With strong scores, accounting students set themselves up for successful entry into accounting and finance programs
Purpose of this lesson: to give examples and explanations of the importance of correctly completing a Statement of Owner's Equity The information will be used to calculate the owners stake in the business at the end of a fiscal period.
DOK 1: recall of vocabulary
DOK 2: Apply concepts learned during modeling and class examples to complete on own working papers independently
DOK 3: Assess the information after determining if the business accounting records are in balance
Financial statements are crucial for business regardless of size or ownership structure
Errors on financial statements are inconsequential
guided notes, modified statement of owner's equity, electronic/online version option
Guided Notes worksheet
Guiding questions/term assignment
work together/on own assignment application or mastery working papers
Math assignment
Century 21, Accounting, General Journal, 11th edition, online/paper edition.
Online working papers (Mindtap)
Microsoft Excel software
Online instructional tools