Friday, September 1st- 8th Grade- Why start a business? Start Accounting function

Archdale-Trinity Middle School Lesson Plan
Date: 09-01-2017

Teacher:	Witkowski
Lesson/Unit Topic:	Purpose of Business- Goods versus Services
Standards:	NCCTE.BU20.01.01 Understand the purpose and the functions of business.

“I Can…” Statement
I can explain the accounting function	I can tell you why people start businesses.

Literacy/Vocabulary Strategies (Word Wall)

Discuss Word Wall A good is a physical product that you sell.  https://upload.wikimedia.org/wikipedia/commons/a/a1/Lille_Meert2.JPG

Bell-Ringer/Connecting Strategy

1. Go to wclassroom 2. Right Click on lower left Window button 3. Type   FI  then click on  file explorer                        4. Click on  THIS PC twice                        5. Click on Student Docs folder                        6. Click on  Witkowski 2017  folder                        7. Click on Exploring Business folder                       8. Click on the Business folder                       9  Double Click on 1.01 Purpose of Business PowerPoint

Lesson-Instructional Strategies & Procedures for Teacher and Students (Detailed Plans Including Best Practices, Researched Based Strategies)

Guided Lesson: @ Review Why start a business? @ Functions of a business @Accounting- writing payroll checks and purchasing inventory https://www.moneyinstructor.com/docs/pdf/checkspage.pdf  Let's pretend you are the New England Patriot's Accountant and you need to write three checks.  1. You need to write a payroll check to Tom Brady for 1 million dollars. Date should be                    1/30/2017 Pay to the Order should be Tom Brady $ amount should be             $1,000,000 Written amount should be    one million dollars For should be                       salary 2. You need to purchase inventory, a new player needs a NFL team uniform, from the NFL Clothing Store for $2000 Date should be                    1/30/2017 Pay to the Order should be NFL Clothing Store $ amount should be             $2,000 Written amount should be    two thousand dollars For should be                       team uniform 3. You need to pay taxes to the United States Treasury for 2 million dollars                       Date should be                    1/30/2017 Pay to the Order should be United States Treasury $ amount should be             $2,000,000 Written amount should be    two million dollars For should be                       taxes @Accounting- preparing income statements that show profit and loss http://study.com/academy/lesson/what-is-an-income-statement-purpose-components-format.html sample of an income statement http://www.accountingcoach.com/wp-content/uploads/2013/10/04X-table-02@2x.png Click on this link. http://www.forbes.com/lists/2011/30/nfl-valuations-11_New-England-Patriots_307338.html What is the revenue for the owner of the New England Patriots? What is the team expense? @ Accounting- preparing cash balance sheets that show money and assets http://study.com/academy/lesson/the-balance-sheet-purpose-components-format.html (stop at 2:30) sample of a cash balance sheet https://qbservices.net/wp-content/uploads/2013/12/Figure4.png What are the assets for the New England Patriots? @ Accounting- https://www.youtube.com/watch?v=cexULeQiCjA     O https://www.youtube.com/watch?v=Trihh1raRjU    BBT @ Management https://www.youtube.com/watch?v=wfsRAZUnonI @Why Gamers make Good ManagersHow many people have played World of Warcraft? https://www.youtube.com/watch?v=PUtV0xgNLtM until 4:15 Independent Exercise: @ Students will work in pairs to take notes on the Functions of business for accounting and management @Review of Needs/Wants, Goods/Services/Why start a business and the accounting function https://kahoot.it/#/

Exit Activity #1  Do you agree that gamers manage multiple items? Why? Give an example.