Monday, February 5th- 8th Grade- Goods vs Service and the Accounting Function

Archdale-Trinity Middle School Lesson Plan
Date: 02-05-2018

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 http://wclassroom.blogspot.com 2. On your desktop open the 1.01 Purpose of Business file in your folder 3. You need a pencil or pen

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

Guided Lesson: @ Let's review from Friday  @ Purpose of Business is to fulfill the needs and wants of consumers. @ Consumer vs. Customer https://www.youtube.com/watch?v=ClQMsMG9fak @ Needs vs. Wants  https://www.youtube.com/watch?v=J8P3sCooGg0 @ Goods versus Services https://www.youtube.com/watch?v=hriOz9yl-Ro @ Review Why start a business? @ Functions of a business @ Accounting @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 Non-monetary Accountant activity?  https://www.youtube.com/watch?v=Trihh1raRjU 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 players 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.