Preparing Balance Sheets & Statements of Cash Flows Lesson Plan

Instructor: Sharon Linde
This lesson plan can be used to teach students about the four reports that make up financial statements. A video lesson is used to show how to prepare and use these reports and leads students through guided practice. Finish with an application project and quiz.

Learning Objectives

After this lesson, students will be able to:

  • Define 'balance sheet'
  • Describe three types of accounts
  • Explain the four types of reports on a financial statement

Length

1-1.5 hours

Curriculum Standards

  • CCSS.ELA-Literacy.RST.11-12.3

Follow precisely a complex multistep procedure when carrying out experiments, taking measurements, or performing technical tasks; analyze the specific results based on explanations in the text.

  • CCSS.Math.Content.HSN.Q.A.2

Define appropriate quantities for the purpose of descriptive modeling.

  • CCSS.Math.Content.HSN.Q.A.3

Choose a level of accuracy appropriate to limitations on measurement when reporting quantities.

Materials

Key Vocabulary

  • Generally accepted accounting principles
  • Balance sheet
  • Asset
  • Liability
  • Owner's equity
  • Operating activities
  • Investing activities
  • Financing activities

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