Accounting - Understanding Business Operations in Financial Statements

Objectives:

• Students will understand the accounting process.
• Students will be able to identify and explain the different types of business operations reflected in financial statements.
• Students will be able to demonstrate how to record transactions in the accounting system.

Age Level: Late secondary school/junior college

National Standards: Complies with NBEA Accounting 2023 Standard III.1.2. Explain how the different types of business operations are reflected in the financial statements.

Materials:

• Whiteboard
• Markers