Recordkeeping/Budgeting

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...

Budgeting is essential for financial success. Teach your students about budget components, formats, strategies, and how to develop an effective budget for their company or department. 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 developing a company/department budget, a (So What?) discussion of why it's...

Running a business without a budget is like trying to steer a ship on a cloudy day without a compass—it’s far too easy to sail off course. Money Tracks helps you teach your students why budgets are so important, prepares you to discuss various types of budgets, and maps out your discussion of the characteristics that effective budgets possess. LAPs (Learning Activity Packages) are comprehensive instructional packages that include all elements of a performance-oriented lesson plan. This LAP...

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...

Business interactions produce a great deal of information. Some documents arrive on paper. Others arrive as email or are produced and stored on company computers. Regardless of how records are created or arrive, important documents need to be kept for future reference. Businesses maintain records for financial, legal, and employee matters as well as tax purposes. This LAP explains why certain records are kept and also explains the methods for doing so. LAPs (Learning Activity Packages) are...

Every business needs to manage its operating costs, or overhead expenses, if it wants to be successful. This LAP describes different types of operating costs, how they affect selling prices, and ways a business can keep its costs under control to increase profitability. 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...

Calculating the break-even point is a valuable skill that all businesses need, so help your students learn all about it with Tipping Point (Calculating Break-Even Point)! This LAP teaches students how to calculate the break-even point—step-by-step—and explains how calculating breakeven can help every business. 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...