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Topic: Business reports and documents 

Business Education

 Standard 1.  Understands and applies basic procedures in the accounting cycle
  Level IV (Grade 9-12)
   Benchmark 2.Understands the function of a balance sheet (i.e., a major report that lists the various asset, liability, and owner’s equity items)
    Knowledge/skill statements
     1.Understands how a balance sheet functions as a major report that lists various assets
     2.Understands how a balance sheet functions as a major report that lists various liabilities
     3.Understands how a balance sheet functions as a major report that lists various equity items
   Benchmark 4.Understands the nature of the double-entry system
    Knowledge/skill statements
     1.Understands the concept of the double-entry system
   Benchmark 6.Understands the purpose of a journal and its relationship to the ledger
    Knowledge/skill statements
     1.Understands the purpose of a journal
     2.Understands the relationship between a journal and a ledger
 Standard 2.  Understands and applies payroll theories and procedures
  Level IV (Grade 9-12)
   Benchmark 1.Uses manual and computerized systems to prepare payroll records
    Knowledge/skill statements
     1.Uses manual systems to prepare payroll records
     2.Uses computerized systems to prepare payroll records
   Benchmark 5.Prepares payroll reports (e.g., federal, state, local)
    Knowledge/skill statements
     1.Prepares federal payroll reports
     2.Prepares state payroll reports
     3.Prepares local payroll reports
 Standard 3.  Interprets and creates basic financial statements
  Level IV (Grade 9-12)
   Benchmark 1.Understands interrelationships of financial statements
    Knowledge/skill statements
     1.Understands how financial statements relate to each other
   Benchmark 2.Prepares balance sheets (e.g., balance total assets with total liabilities plus net worth)
    Knowledge/skill statements
     1.Prepares balance sheets by balancing total assets with total liabilities and adding net worth
   Benchmark 4.Prepares income statements (e.g., add gross sales/gross billings and cost of goods sold, determine gross profit on sales, deduct expenses, record net profit)
    Knowledge/skill statements
     1.Prepares income statements by adding gross sales, gross billings, and cost of goods sold
     2.Prepares income statements by deducting expenses
     3.Prepares income statements by recording the net profits
   Benchmark 6.Uses a variety of journal formats to journalize business transactions
    Knowledge/skill statements
     1.Uses a journal format to record business transactions
 Standard 4.  Understands and uses accounting software and spreadsheets
  Level IV (Grade 9-12)
   Benchmark 1.Uses spreadsheet technology to prepare financial statements and reports (including charts and graphs)
    Knowledge/skill statements
     1.Uses spreadsheet technology to prepare financial statements
     2.Uses spreadsheet technology to prepare financial reports
     3.Uses spreadsheet technology to prepare financial charts
     4.Uses spreadsheet technology to prepare financial graphs
   Benchmark 2.Uses spreadsheets and databases to determine price, profit, cost, and break-even point
    Knowledge/skill statements
     1.Uses spreadsheets to determine price
     2.Uses spreadsheets to determine profit
     3.Uses spreadsheets to determine cost
     4.Uses spreadsheets to determine the break-even point
     5.Uses databases to determine price
     6.Uses databases to determine profit
     7.Uses databases to determine cost
     8.Uses databases to determine the break-even point
   Benchmark 3.Uses accounting software to compare planned financial goals to actual financial statements
    Knowledge/skill statements
     1.Compares financial goals to actual financial statements using accounting software
   Benchmark 6.Understands the differences between manual and computerized accounting systems
    Knowledge/skill statements
     1.Knows about manual accounting systems
     2.Knows about computerized accounting systems
     3.Knows differences between manual and computerized accounting systems
 Standard 13.  Analyzes and interprets data using common statistical procedures, charts, and graphs
  Level IV (Grade 9-12)
   Benchmark 1.Uses statistical concepts to analyze data, evaluate results, and draw conclusions (e.g., data found in financial reports)
    Knowledge/skill statements
     1.Uses statistical concepts to analyze data
     2.Uses statistical concepts to evaluate results
     3.Uses statistical concepts to draw conclusions
     4.Uses statistical concepts to analyze data found in financial reports