21st Century Instructional Guide for Career Technical Education
Business Math
Business and Marketing Cluster
Title:
Business Math (WVEIS 1419)
Standard
Number:
BE.S.BMH.1
Essential
Question:
Objectives:
BE.O.BMH.1.1
Computation Skills
Students will develop computational skills needed to solve business and consumer problems.
What are computational skills?
Students will
solve problems that involve whole numbers,
decimals, and fractions.
Learning Plan & Notes to Instructor:
The teacher using interactive media will give
examples of problems involving whole numbers,
decimals and fractions and explain how to solve
these types of problems.
The student will complete Unit/Chapter assessments
such as authentic performance tasks, problems, and
projects.
The teacher using interactive media will explain
percentages, ratios, and proportions. The students
will complete textbook and workbook activities.
Divide student into small groups and give each group
a package of Skittles or M&M’s Use the candy to
answer the following questions: How many pieces of
candy are in the package? How many of each color
does the package contain? What percentage and
fraction of the whole does each color represent?
Using software and the data design a spreadsheet
incorporating tables, charts, and graphs on the
candy colors.
BE.O.BMH.1.2
solve problems that involve percentages,
ratios, and proportions.
BE.O.BMH.1.3
interpret tables, charts, and graphs.
Standard
Number:
Banking and Personal Finance
Students will analyze and solve banking and personal finance problems for such areas as payroll
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BE.S.BMH.2
Essential
Question:
Objectives:
BE.O.BMH.2.1
BE.O.BMH.2.2
BE.O.BMH.2.3
records, taxation, personal cash management, and credit management.
What are banking and personal finance problems?
Students will
calculate earnings using different wage
plans.
determine payroll deductions and compute
net pay.
prepare a deposit slip, maintain checkbook
and prepare reconciliation statement.
Learning Plan & Notes to Instructor:
The students will research the different wage plans
using the internet and prepare a spreadsheet listing
the pros and cons of each.
The teacher using interactive media will demonstrate
to the students the procedure for determining payroll
deductions and how to compute net pay.
The students will complete a payroll simulation. The
simulation can be one that was created by the
instructor or purchased from a publishing company.
BE.O.BMH.2.4
determine the types of savings and checking
accounts currently available.
The student will complete Unit/Chapter Assessments
as directed by the teacher.
Use interactive media to illustrate forms and
information for opening and maintaining checking
accounts.
Teacher can utilize the website Money
Instructor.com at
www.moneyinstructor.com/spendsave.asp for
lesson plans on check writing, checkin, and saving
accounts.
Obtain forms from the local banking and credit
unions to use with students.
BE.O.BMH.2.5
BE.O.BMH.2.6
identify and demonstrate how certified
checks and cashier’s checks are used.
classify endorsements and state when to use
Invite a representative from the local bank as a guest
speaker to discuss banking procedures.
Use interactive media to display examples of checks
and explain use and endorsements.
Provide
examples of each and have students to use
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BE.O.BMH.2.7
them.
prepare a budget for personal money
management.
BE.O.BMH.2.8
compute individual income taxes.
responders to answer questions.
The teacher will need to provide the monetary
information to students for the following scenario.
Jean, your neighbor, has been living beyond her
financial means. She recognizes her need to
develop a personal budget but feels overwhelmed by
the task. Knowing that you understand personal
money management, Jean asks for your assistance
in developing a budget and financial plan for getting
out of debt. You have agreed to assist in setting up
her budget. Given Jean’s current income and
expenses provide her with two financial options
available in your area.
Students will research the IRS website for
information on computing individual income taxes at
www.irs.gov/app/understandingTaxes,
Utilize the lesson plans on the Federal Reserve
educator’s resource website for It’s Your Paycheck,
Unit A: Know Your Dough, Lesson 1 Invest in
Yourself and Lesson 2 “W” is for Wages, W4 and
W2. . Use the website
http://www.stlouisfed.org/education_resources/paych
eck.cfm
BE.O.BMH.2.9
BE.O.BMH.2.10
BE.O.BMH.2.11
compare and contrast an installment contract
and a promissory note and calculate interest
and maturity value.
determine the balance due for installment
purchases.
compile finance/additional charges, periodic
payment, total cost, and the annual
percentage rate (APR) on an installment
contract.
Invite a tax accountant as a guest speaker.
Use interactive media to provide examples, for class
discussions, on installment contracts, promissory
notes, methods of calculating interest and maturity
value.
Invite a loan officer from a local bank as a speaker.
Students will decide on a major purchase, not to
exceed $1,500.00, that they need to purchase on an
installment contract. Students will contact local retail
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stores to determine the best price, interest rate, and
installment plan. Compile and contrast the different
payment options available. Students will then
present to the class their findings.
Standard
Number:
BE.S.BMH.3
Essential
Question:
Objectives:
BE.O.BMH.3.1
Basic Accounting Concepts
Students will analyze and solve basic accounting concepts for areas such as depreciation, inventory
records, purchases, sales, and financial statements.
Why use basic accounting concepts?
Students will
distinguish purchase cost, salvage value,
useful life, depreciation base, and book
value.
Learning Plan & Notes to Instructor:
Students will create a word wall of accounting
terminology.
Access the web site www.scsite.com (version used
in classroom) for crossword puzzle and interactive
activities of accounting terminology.
Students will use interactive media to present
completed chapter application problem(s) and
analyze the application using appropriate
terminology.
BE.O.BMH.3.2
compute depreciation by the following
methods: straight-line, sum-of-years-digits,
declining balance, and unit-of-production.
BE.O.BMH.3.3
compute physical inventory value by using
FIFO, LIFO, specific identification and
average cost methods.
Utilize Money Instructor.Com website for accounting
lesson plans and worksheets at
www.moneyinstructor.com/accounting.asp .
Students will use interactive media to present
completed chapter application problem(s) and
analyze the application using appropriate
terminology.
Students will use interactive media to present
completed chapter application problem(s) and
analyze the application using appropriate
terminology.
Invite a local chain store manager to discuss
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inventory procedures.
Students will conduct research to determine which
types of businesses use FIFO and LIFO, specific
identification, and average cost methods. Compare
and contrast the inventory methods for the different
business types.
BE.O.BMH.3.4
compute the net profit or loss.
Students will use Excel or another spreadsheet
program to complete financial statements.
Collect and use annual reports from local companies
to view financial statements and compare with
textbook examples.
BE.O.BMH.3.5
BE.O.BMH.3.6
determine the dollar amount of cost, markup,
or sales price when one of the three
variables is unknown.
determine the dollar amount of markdowns,
regular selling price, or reduced price when
one of the three variables is unknown.
BE.O.BMH.3.7
complete a sales invoice with sales
information and sales tax.
BE.O.BMH.3.8
categorize each element of the fundamental
Students will choose a company and research their
online financial statements for a class discussion.
Part I: The FBLA Chapter’s Fundraising Committee
has decided to sale t-shirts to promote membership.
The Chapter would like to make a $4 profit per shirt.
The basic cost of the t-shirts is $10 a person before
adding color, design or logo. Based on the
information provided, students will determine the
selling price of the t-shirt. Students will create their
design and research the cost associated with color
and lettering. Students should compare costs with
multiple companies.
Part II: The FBLA Chapter’s Fundraising Committee
purchased too many shirts and needs to sell the
remaining t-shirts discounted.
Teachers will use a document cam for students to
identify checks, invoices, receipts, and other source
documents. Students can use responders to answer
questions related to the source documents.
Use interactive media to categorize an asset, liability
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accounting equation (Assets=Liabilities +
Owner’s Equity).
BE.O.BMH.3.9
communicate and prove the debit and credit
theory.
BE.O.BMH.3.10
interpret a balance sheet and income
statement.
and owner’s equity. The teacher will compile a list of
accounts and students will use responders to classify
the element type.
Students will analyze the effect of transactions on
the accounting equation using T-Accounts followed
by journal entries from textbook problems.
Students will use Excel or another spreadsheet
program to complete financial statements.
Collect and use annual reports from local companies
to view financial statements and compare with
textbook examples.
BE.O.BMH.3.11
distribute partnership income (revenue) or
loss by different methods.
Students will choose a company and research their
online financial statements for a class discussion.
Students will research the Internet to create a
spreadsheet of the types of business ownership.
Students will compare and contrast the different
types of business ownerships
Teachers will generate a list of businesses in the
community for students to determine the type of
ownership using responders.
Students will use interactive media to present
completed chapter application problem(s) and
analyze the application using appropriate
terminology.
BE.O.BMH.3.12
calculate commissions.
Standard
Number:
BE.S.BMH.4
Essential
Question:
Objective
BE.O.BMH.4.1
Fundamental Insurance
Students will analyze and solve insurance problems.
Why is insurance necessary?
Students will
calculate insurance premiums.
Learning Plan & Notes to Instructor:
Teacher will create a presentation to teach, review
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and test knowledge on the difference types of
insurances.
Students can research West Virginia Insurance
Commission for insurance information at
www.wvinsurance.gov.
Students will research the following scenario and
present their findings in a class blog. Students
should respond to at least two other student
postings. The teacher will assign each student a
different make and model of automobile. The
scenario: You have been given your Aunt Liza’s
automobile. Research the make and model of your
vehicle and determine which insurance company
provides you with the best coverage at the best rate.
BE.O.BMH.4.2
examine differences between term and
whole life insurance policies
Invite an insurance agent or a representative from
the West Virginia Insurance Commission as a guest
speaker.
Students will debate the differences between term
and whole life insurance policies. Students will
prepare a spreadsheet listing the pros and cons of
each type of insurance.
Invite an insurance agent or a representative from
the West Virginia Insurance Commission as a guest
speaker.
Standard
Number:
BE.S.BMH.5
Essential
Question:
Objectives:
BE.O.BMH.5.1
Participating in the Organization
Students will participate in a student organization.
What are the benefits of a career, technical student organization?
Students will
assess the purposes and goals of the local
student organization.
Learning Plan & Notes to Instructor:
Invite students to participate in an FBLA chapter
event. Invite State FBLA Officer to present at a
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BE.O.BMH.5.2
BE.O.BMH.5.3
21st Century
Skills
Information and
Communication
Skills:
chapter meeting or to a class on the activities,
purpose and benefits of membership. Show the
FBLA promotional video located on www.FBLAPBL.org web site. Have students to locate and
discuss the FBLA-PBL goals, mission statement, and
pledge.
discover the benefits and responsibilities of
Invite FBLA-PBL alumni members to be guest
participation in student organization as an
speakers in the classroom and during chapter
adult.
events. Coordinate a chapter event with another
service organization in the community (such as
Lion’s Club, Women’s Club, Jaycees, Rotary, etc.).
demonstrate leadership skills through
Have the local FBLA officer team to develop a
participation in student organization activities program of work for the school year and form various
such as meetings, programs, and projects.
committees to complete the task using chapter
members. Encourage students to actively participate
in State, regional, and national conferences and vie
for leadership positions.
Learning Skills & Technology Tools
Teaching Strategies
Evidence of
Culminating Activity
Success
21C.O.9Student recognizes information Students will complete an Students will present
12.1.LS1
needed for problem solving,
online Webquest for
their business using
can efficiently browse, search
information to create their presentation and
and navigate online to access
own restaurant. Which
spreadsheet
relevant information, evaluates culminates all Business
software to an
information based on credibility, Math topics covered.
audience of their
social, economic, political
peers. A
and/or ethical issues, and
student/teacher
presents findings clearly and
created rubric will be
persuasively using a range of
used for evaluation
technology tools and media.
by peers and
teacher.
21C.O.9Student uses advanced
12.1.TT6
features and utilities of
spreadsheet software, (e.g.,
formulas, filters, pivot tables,
pivot charts, macros,
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21C.O.912.1.TT10
Thinking and
Reasoning Skills:
Personal, and
Workplace,
Skills:
21C.O.912.2.LS1
conditional formatting), to
perform calculations and to
organize, analyze and report
data.
Student implements various
Internet search techniques
(e.g., Boolean searches, metasearches, web bots) to gather
information; student evaluates
the information for validity,
appropriateness, content, bias,
currency, and usefulness.
Student engages in a critical
thinking process that supports
synthesis and conducts
evaluation using complex
criteria.
21C.O.912.2.LS2
Student draws conclusions
from a variety of data sources
to analyze and interpret
systems.
21C.O.912.2.TT2
Student collaborates with
peers, experts and others to
contribute to a content-related
knowledge base by using
technology to compile,
synthesize, produce, and
disseminate information,
models, and other creative
works.
Student works collaboratively to
acquire information from
electronic resources, conducts
online research, and evaluates
21C.O.912.3.TT2
Students will work in
groups to analyze the
feasibility of creating a
new business from the
ground up.
Student groups will
blog their findings
and conduct
debates.
Teacher will create a wiki
for the course to use to
disseminate and receive
student assignments.
Students will use the
course wiki to
communicate with
the teacher for daily
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information as to validity,
appropriateness, usefulness,
comprehensiveness and bias.
21C.O.9Student adheres to acceptable
12.3.TT4
use policy and displays ethical
behaviors related to acceptable
use of information and
communication technology
(e.g., privacy, security,
copyright, file-sharing,
plagiarism); student predicts
the possible cost and effects of
unethical use of technology
(e.g., consumer fraud,
intrusion, spamming, virus
setting, hacking) on culture and
society; student identifies the
methodologies that individuals
and businesses can employ to
protect the integrity of
technology systems.
Learning Skills & Technology Tools
G.03
Entrepreneurship
Skills:
G.10
G.19
G.20
Teaching Strategies
Culminating Activity
Describe the sources of income Students will process
(Wages/salaries, interest, rent, leadership, personal
dividends, transfer payments,
management,
etc.)
communication, and
interpersonal skills as they
Describe services provided by
engage in collaborative
financial institutions
Complete financial instruments work, decision-making
processes, operate
Maintain financial records
multimedia equipment,
and draw business
conclusions.
activities and post
their completed
assignments and/or
progress.
Evidence of
Success
Students will display
appropriate
leadership,
communication, and
interpersonal
traits/behaviors in
personal
applications and
collaboration with
others. Students will
use basic computer
operations to
complete task and
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projects. Students
will draw
conclusions
regarding
educational
requirements, job
duties, and salary
expectations in their
area of interest
Culminating
Assessment:
Culminating Assessment:
The FBLA chapter is planning to operate a school spirit store. The store will provide real-life-skills
and work ethics. You will need to determine the following for the success of the spirit store.
Budget: The store’s operating budget is $1,000.00. FBLA members will need to work within their
financial means. The budget must be managed throughout the school year. Your budget will
determine the type and amount of products (inventory) to order.
Purchasing and Pricing: You will need to decide on the types of products to sell based on the
budget. Once items are purchased, determine what a reasonable price will be for each item keeping
costs and profit in mind.
Inventory Control: A procedure must be put into place to manage inventory of the products
purchased. This will prevent theft, running out of product and ordering too much.
Accounting: To maintain control all financial transactions must be recorded.
All information related to the school spirit store will be recorded on a spreadsheet. Include a formula
in the spreadsheet to indicate when to reorder a product.
FBLA Competitive Events
Links and Other Resources
Related Websites:
Links and Other
Resources
Money Instructor
www.moneyinstructor.com
WV State Auditor’s Office
www.wvsao.gov
WV State Treasurer’s Office
www.sto.com
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Internal Revenue Service
www.IRS.gov
Federal Reserve
www.FederalReserve.gov
Consumer Credit Counseling and Debit Consolidation Services
www.consumercredit.com
FDIC (Federal Deposit Insurance Corporation)
www.fdic.gov
National Endowment for Financial Education (Nefe)
www.nefe.org/highschoolprogram
The Stock Market Game
www.stockmarketgame.org
We Seed (Virtual Stock Market Game)
www.weseed.com
Tonya Skinner Lesson Plans
www.lessonplans.btskinner.com/acctg.html
Hands On Banking
www.handsonbanking.org
WV Junior Achievement
www.jaadvantage.com
Pathways to Success
http://careertech.k12.wv.us/pathwaystosuccess/
U.S. Department of Labor in the 21st Century
http://www.dol.gov/
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Advanced Distributed Learning
www.adlnet.org
America's Career InfoNet
www.acinet.org
West Virginia Career and Technical Education
http://careertech.k12.wv.us/
Wall Street Journal
www.wallstreetjournal.com
Contacts:
Contacts:
Business Teachers: Utilize K12 Business Marketing Listserv at K12-BUSMKT@listserv.wvnet.edu
Business Coordinator: Abby Reynolds, areynold@access.k12.wv.us
OCTI Assistant Executive Director: Donna Burge-Tetrick
OCTI Executive Director: Gene Coulson
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