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Studio Live Accounting

Studio Live Accounting. Lynda Cannedy FACTS Design for 6341 – Summer 2010. Introduction. Studio Live Accounting. Why teach accounting? Secondary high school students Twelve week time frame. Loan Process and Procedures loan application and feedback from local bankers. Literacy.

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Studio Live Accounting

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  1. Studio Live Accounting Lynda CannedyFACTS Design for 6341 – Summer 2010

  2. Introduction Studio Live Accounting Why teach accounting? Secondary high school students Twelve week time frame • Loan Process and Proceduresloan application and feedback from local bankers

  3. Literacy Literate in: Spreadsheet software Business communication Accounting terminology Mathematical and computational literacy

  4. Problem-Solving Studio Live Bella Martin, owner Rents recording studio and sells time to customers Wants to purchase more sound equipment Bank is requiring financial statements Needs our help to set up financial system for business and to apply for loan Anchored in larger field of accounting

  5. Knowledge Disciplinary Structures – Understanding accounting cycle Debits and credits T-accounts Chart of accounts Source documents Business organization Loans Disciplinary Processes – Calculator and keypad operations Spreadsheet skills PMT function/loan scenarios Graphic representations Analyze and record transactions Prepare financial statements and analyze finanacial data Disciplinary Discourse – Presentations of financial information and findings Narrative Discourse – Chik-Fil-A story

  6. Information Searching for Information Model business financial statements Business organizational form characteristics Sorting and Judging Info Sorting source documents Judging transactions Comparing numbers between businesses Judging which formula or calculation to use Communicting Information Communicating findings with each other Presenting and justifying findings to CPAs and bankers

  7. Community Cooperative groups of 3-4 for research activities Groups balanced for skill, diversity, and technological competence Rider & Co. weekly board meetings Community outside the campus with local CPAs and bankers

  8. Activities - Authentic Actual “shoebox” full of source documents and questions from the client will be brought to students Students become Rider & Co. accounting partnership with Bella Marting (Studio Live) as first client Access to local CPAs and bankers Students will prepare actual printed financial statements and receive feedback from CPAs and bankers

  9. Activities – Background Building Exploration of Excel spreadsheet software with focus on accounting uses Research on Internet – finding model financial statements and comparing proprietorship, partnership, corporation Practice calculator skills using keyboard Using textbook and Aplia software, students will get background practice on account classifications, accounting equation, T-accounts, transaction analysis and recording, posting, preparing a work sheet, and preparing financial statements Research on Internet - economics of prime rate and how interest rates are set

  10. Activities - Constructing Construct templates on Excel from actual accounting forms Construct spreadsheet comparing types of businesses Construct accounting system for Studio Live and complete accounting cycle for fiscal period Construct financial statements for Studio Live Construct power point presentations to present financial data Construct loan application for Studio Live loan

  11. Activities - Sharing Students will share power points presenting financial data with rest of class and with local CPAs Share with classmates about best forms of business organization for Rider & Co. and Studio Live Share models of financial statements with classmates and discuss advantages/disadvantages of each Students will share loan application forms with local bankers for feedback

  12. Content • All content comes from Texas Essential Knowledge and Skills (TEKS) • §120.42. Accounting I • §111.34. Geometry • §111.32. Algebra I • §118.2. Economics

  13. Tools • The following programs will be used: •  Microsoft Office Word 2007 •  Microsoft Office Excel 2007 •  Microsoft Office Power Point 2007 •  Internet with Internet Explorer and/or Mozilla Firefox •  Century 21 Accounting – general journal approach •  Aplia software – replaces accounting workbooks with online activities •  Real Player or QuickTime to watch videos

  14. System of Assessments Continual observation as a form of assessment Rubrics for the business organization comparison, the accounting cycle, financial statements Feedback from classmates and outside experts will be given on the power point presentations and the loan applications Aplia software has automatic assessment as progress is made Students will self-assess periodically

  15. Learning Environment • Physical – 24 computers outlining the perimeter of room and conference table in middle • Intellectual – all computers have internet access and many software applications available • Values – high expectations for working together as worthy individuals are paramount

  16. To Do List 1. Develop details of rubrics for assessment. 2. Make a list of websites with company financial statement examples or models. 3. Check working condition of computers and software. 4. Make sure websites are not blocked by school firewall. Submit unblock requests.

  17. Attributions • Presentation created on Microsoft Office Power Point 2007 • Design and graphics from Microsoft Office • All other photos taken by author • FACTS design from Teaching with Technology by Priscilla Norton and Karin M. Wiburg (2003)

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