Make a statement
Financial statement, and how they to apply proportions, ratios, and rates.
Ready...
A financial statement reflects a consumer's or business' financial position. There are varying qualities of financial statements. For instance, large companies hire Certified Public Accountants (CPAs) to give an audited statement.
CPAs examine the company's records and decide if the company is following standard accounting and financial reporting practices.
Banks and lending institutions ask consumers to give loan applications and financial statements before making a loan. Most people would not hire an accountant to review or pass judgment on these statements.
Set...
What is a balance sheet?
Review income & expense statement definition. What is another name for this statement?
Download the financial statement workbook. Calculate your first entry -- the monthly salary.
Save the workbook to your work folder.
Go...
Download the template and categorize the results of the brainstorming section.
Brainstorming
With your teacher or parent, brainstorm lists containing assets/income and liability/expense items that a consumer might have. Place these items into two the right columns of the template.
Save a copy of the completed template and e-mail or send your document to your teacher.
Locate the hourly wage for three or more jobs that you would want to have.
Find a job
Check the California Occupation Explorer site, explore the job of your interest. We will use the "Entry Rate" for our salary calculation.
Calculate the daily rate using a ratio of 8 to 1.
Calculate the weekly rate using a ratio of 5 to 1.
Calculate the monthly rate using a ratio of 4 to 1.
Enter the Monthly Rate in your Workbook. Save often. You should use the formula features of Excel to complete the workbook.
Done Early?
Research other jobs on a national level. Explain why the jobs may have different pay rates on a national level. Do you think where you live makes a difference in what you get paid? Explain your answer.
US Dept. of Labor and Statistics
Write up to 1-Page report on your job. Use double spacing and 11-point Arial font.