Describe how accounting information is used in making business and personal decisions.
Identify international organizations that establish trade regulations and standards to facilitate business among countries.
Examples: International Court of Justice (ICJ), International Monetary Fund (IMF), Universal Postal Union (UPU), General Agreement on Tariffs and Trade (GATT), International Code Council (ICC), the European Union (EU)
Research and share information on career and entrepreneurial opportunities, responsibilities, and educational credentialing requirements related to specialized accounting professions.
Gather and share information on professional accounting organizations and the benefits of membership.
Incorporate safety procedures in handling, operating, and maintaining tools and machinery; handling materials; utilizing personal protective equipment; maintaining a safe work area; and handling hazardous materials and forces.
Demonstrate effective workplace and employability skills, including communication, awareness of diversity, positive work ethic, problem-solving, time management, and teamwork.
Explore the range of careers available in the field and investigate their educational requirements, and demonstrate job-seeking skills including resume-writing and interviewing.
Advocate and practice safe, legal, responsible, and ethical use of information and technology tools specific to the industry pathway.
Participate in a Career and Technical Student Organization (CTSO) to increase knowledge and skills and to enhance leadership and teamwork.
Discuss and demonstrate ways to value diversity.
Determine needed resources and avenues for funding new business ventures or expansions.
Interpret inventory records to account for quantities, location, and cost of inventory for a given business.
Discuss methods of controlling inventory.
Examples: FIFO, LIFO, average cost method
Calculate the cost of current inventory of a given business.
Perform manual and electronic financial functions for financial institutions and consumers.
Examples: generating financial documents, creating customer accounts
Assess revenue and expenses to determine net income and net loss.
Calculate net income and net loss for given businesses.
Calculate revenue and expenses to determine net income or net loss for a given business during a specified period of time.
Calculate employee withholdings and employer payroll expenses for a given business.
Evaluate accounting records to determine the financial status of a business.
Complete balance sheets and income statements using accounting procedures.
Explain how a business’s operating expenses affect its profit.
Compare and contrast various methods of making and receiving payments and the impact of each on a business’s profit.
Conduct research to gather statistical data from peers within the school environment on a topic of concern and display results in bar, line, and circle graphs using spreadsheet software.
Examples: lunch menu options offered to students, opinions on quality of lunch items
Create and adjust bar, line, and circle graphs to highlight specific features of a dataset.
Examples: survey results
Describe factors that affect the business environment.
Identify external factors that may affect business environments.
Examples: natural disasters, pandemics, election results
Discuss how businesses react to factors affecting their environment in both the long and short term.
Explain how unethical business practices affect current and future employees.
Obtain, evaluate, and share information about the global business environment.
Discuss the impact of globalization on businesses.
Explain factors driving the existence of a global business environment.
Analyze financial markets and explain their importance in business.
Explain the basic functions of financial markets.
Examples: borrowing, lending, risk sharing
Differentiate between finance and insurance institutions.
