Get a life: project
By: Elianet Hernandez Santana
vocabulary
Important Words to Know…
Word
Definition
Income
money received, especially on a regular basis, for work or through investments.
Expense
the cost required for something; the money spent on something.
Gross
Income
1. An individual's total personal income before taking taxes or deductions into account. 2. A company's revenue minus cost of goods
sold.
Net
Income
is an entity's income minus cost of goods sold, expenses and taxes for an accounting period.
Fixed
Expenses
Fixed expenses or costs are those that do not fluctuate with changes in production level or sales volume. They include such expenses as
rent, insurance, dues and subscriptions, equipment leases, payments on loans, depreciation, management salaries, and advertising.
Accountant Job Responsibilities:
Provides financial information to management by researching and analyzing accounting data; preparing reports.
Accountant Job Duties:
Prepares asset, liability, and capital account entries by compiling and analyzing account information.
Documents financial transactions by entering account information.
Recommends financial actions by analyzing accounting options.
Summarizes current financial status by collecting information; preparing balance sheet, profit and loss statement, and other
reports.
Substantiates financial transactions by auditing documents.
Maintains accounting controls by preparing and recommending policies and procedures.
Guides accounting clerical staff by coordinating activities and answering questions.
Reconciles financial discrepancies by collecting and analyzing account information.
Secures financial information by completing data base backups.
Maintains financial security by following internal controls.
Prepares payments by verifying documentation, and requesting disbursements.
Answers accounting procedure questions by researching and interpreting accounting policy and regulations.
Complies with federal, state, and local financial legal requirements by studying existing and new legislation, enforcing
adherence to requirements, and advising management on needed actions.
Prepares special financial reports by collecting, analyzing, and summarizing account information and trends.
Maintains customer confidence and protects operations by keeping financial information confidential.
Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications;
establishing personal networks; participating in professional societies.
Accomplishes the result by performing the duty.
Contributes to team effort by accomplishing related results as needed.
Accountant Skills and Qualifications:
Accounting, Corporate Finance, Reporting Skills, Attention to Detail, Deadline-Oriented, Reporting Research Results, SFAS
Rules, Confidentiality, Time Management, Data Entry Management, General Math Skills
Task 1: Explore your occupation
Occupation : accountant
Yearly Gross Income ____65,080___
Fixed Expenses:
Monthly Gross Income __5,423.33____
Monthly Net Income ______4,068______
Expense
Amount Monthly (include source also):
Student Loan
$1,100
Utilities (10% of your rent or
mortgage)
Rent or Mortgage
Electricitiy=$100
Water=$45
Internet=$20
Total=$165
$200
Car Loan
$300
Health Insurance
$150
Savings (5% of your net income)
500
Task 2: Create a budget
Budget number: 1
Total income for the month: 4,068
Leftover Income Less expenses: 3,518
Total amount in Saving account:200
Expense
Amount Budgeted
Actual Amount
All Fixed Expenses
groceries
200
250
Vehicle purchases
100
150
Housekeeping supplies
50
60
Clothing and services
150
170
enterteiment
50
65
550
695
Total Expenses
5
Task 3: Determine your housing
Rent:
Monthly cost: ___ $545 ____
Percent of monthly income: ____$136.25____
Cost of utilities: ____$100______
Website used: http://www.rent.com/north-carolina/charlotte-apartments/thetimbers-4-447398
Task 4: Determine your
transportation
car -Monthly cost: __$625______
Gas (Only for cars): ___$40 per week____
Task 5: Shop for your home
Item to Buy
Website Used
Item Amount
Washer and Dryer
http://www.walmart.com/search/?query=washer%20and%20dryer
$68.92
Bed
http://www.roomstogo.com/furniture/Bedrooms/Queen-Beds/_/N8ddZ8bv?qf=pricerange_Under+%24500pricerange_Under+%24500
$299.99
Couch
http://www.roomstogo.com/furniture/Living-Rooms/Sofas/_/N8ezZ8bv?qf=pricerange_Under+%24500
$399.99
Dresser
http://www.roomstogo.com/furniture/Bedrooms/Dressers/_/N8dhZ8bv?qf=pricerange_Under+%24500pricerange_Under+%24500
$199.99
Lamp
http://www.roomstogo.com/furniture/Accessories/Lamps/_/N-8cs
$79.99
Microwave
http://www.walmart.com/search/?query=microwave
$49.88
Task 6: Plan a “Major Event”
Major Event: _________my wedding_____
Cost:____$5.000_______
Income – Event: _________$4.500_________
Do you have money left over, or will you be short on your
budget?________$2000 left______
How much money do you have in your savings? _______$3000_____
Minus your savings, now determine how much more money you need or how
much money you have left over _____1.500____
Floor plan
Resourses
-http://www.rent.com/north-carolina/charlotte-apartments/the-timbers-4-447398
-http://www.carmax.com/enus/viewcar/default.html?id=11877998&AVi=14&No=0&Rp=R&D=50&zip=28227&sP=0-10000&Q=9482dae0-8a5d-4231b3f8-120e91df0231&Ep=search:results:results%20page
-http://www.walmart.com/search/?query=washer%20and%20dryer
-http://www.roomstogo.com/furniture/Bedrooms/Queen-Beds/_/N8ddZ8bv?qf=pricerange_Under+%24500pricerange_Under+%24500
-http://www.roomstogo.com/furniture/Living-Rooms/Sofas/_/N-8ezZ8bv?qf=pricerange_Under+%24500
-http://www.roomstogo.com/furniture/Bedrooms/Dressers/_/N8dhZ8bv?qf=pricerange_Under+%24500pricerange_Under+%24500
-http://www.roomstogo.com/furniture/Accessories/Lamps/_/N-8cs
-http://www.walmart.com/search/?query=microwave
The end