Lesson 13: Financial Statement: Balance Sheet
Duration of Days: 2
Lesson Objective
Explain and prove the importance of a company's financial records being in balance.
What is the importance of a company's accounting equation being in balance?
What financial statement proves that the financial records are in balance?
balance sheet, accounting equation
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.
Description: Lesson will emphasize the critical role of balanced financial records in maintaining accurate financial information
Purpose of this lesson: to give examples and explanations of the importance of correctly completing the balance sheet section of the worksheet. The information will be used to create a business's financial statements.
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
Internal and external users of accounting information expect accurate balance sheet reporting.
Accuracy of the balance sheet is not a legal requirement
Sampling, modeling, one one instruction, Google classroom or Moodle. Paper or or online assignments, online instructional tools, videos, textbook or online textbook, excel real world application of information, Spanish version available for ELL students
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