Accounting

Though it might not seem as “glamorous” as inventing new products or creating marketing campaigns, accounting is an absolutely vital part of business success. Teach your students about the importance of accounting—what it is, why businesses need it, and how they use it. Explain to them the difference between managerial and financial accounting, and help them discover each step in the accounting cycle. LAPs (Learning Activity Packages) are comprehensive instructional packages that include all...

Open your students’ eyes to the significance of cash flow in business! Count the Cash (Cash Flow Statements) explains the importance of maintaining a positive cash flow to pay expenses, invest, and expand a business. It includes discussions of how entrepreneurs find funding and manage cash with limited resources, as well as the challenges of managing inconsistent cash flow due to seasonal business. Students will also learn how cash flow is determined. LAPs (Learning Activity Packages) are...

The balance sheet is one of a business's key financial statements. This LAP discusses the accounting equation, who uses balance sheets, and balance sheet components, including assets, liabilities, and owner’s equity. Teach your students what balance sheets are and why they're important. LAPs (Learning Activity Packages) are comprehensive instructional packages that include all elements of a performance-oriented lesson plan. This LAP includes a student handout (with CopyIT! permission) that...

What do the terms earnings statement, operating statement, and profit-and-loss statement have in common? They're all names for the income statement. Help your students learn about these important financial documents with Watch Your Bottom Line. Readers will gain an in-depth knowledge of the various components of income statements and will discover why it’s so important for these documents to be accurate and up to date. LAPs (Learning Activity Packages) are comprehensive instructional packages...

Internal accounting controls, such as separation of duties, documentation, and auditing, help protect a business against error and fraud. Teach your students what these controls are and why they’re so important! LAPs (Learning Activity Packages) are comprehensive instructional packages that include all elements of a performance-oriented lesson plan. This LAP includes a student handout (with CopyIT! permission) that includes information about internal accounting controls, a (So What?)...

Accountants provide an important service to society, and therefore, they have a duty to be ethical. With Due Care (The Role of Ethics in Accounting) describes the importance of ethics to all types of accountants. It focuses on the purpose of ethics in accounting as well as the benefits businesses receive from ethical accounting practices. This LAP also explains several key principles accountants should follow to maintain ethical behavior. LAPs (Learning Activity Packages) are comprehensive...

Financial information is important for all of us – but especially important for businesses! Using this LAP, teach your students about the types of financial information businesses use as well as how they use it. In the activities, students will get hands-on experience with financial information, helping them better understand the various characteristics of quality financial information. LAPs (Learning Activity Packages) are comprehensive instructional packages that include all elements of a...