# CTE Resource Center - Verso - Office Administration NBEA Achievement Standards for Accounting Correlation by Task

CTE Resource Center - Verso

Virginia’s CTE Resource Center

NBEA Achievement Standards for Accounting Correlation by Task

In this course, the following tasks/competencies reinforce the standards listed beside them. Teachers may identify additional reinforcements in locally developed instructional materials.

Task/Competency Number Task/Competency Statement Standards
51 Maintain inventory records. NBEA Achievement Standards for Accounting: Determine the cost of inventory for merchandising and manufacturing businesses and apply appropriate valuation methods. ♦ Determine the costs of property, plant and equipment, natural resources, and intangible assets. ♦ Explain the difference between the periodic and perpetual inventory methods. ♦ Identify and apply internal control procedures used to safeguard assets and ensure the integrity of the accounting information system. ♦ Identify and describe the cost flow assumptions for inventory and explain the impact on the balance sheet and income statement. ♦ Identify, calculate, and record depreciation, depletion, and amortization and explain the impact on the financial statements.
52 Prepare a cost analysis of hardware, furniture, equipment, and supplies. NBEA Achievement Standards for Accounting: Explain the purpose of cost allocation. ♦ Identify and describe the cost flow assumptions for inventory and explain the impact on the balance sheet and income statement. ♦ Identify, calculate, and record depreciation, depletion, and amortization and explain the impact on the financial statements.
59 Manage cash fund accounts. NBEA Achievement Standards for Accounting: Identify and apply internal control procedures used to safeguard assets and ensure the integrity of the accounting information system. ♦ Use the statement of cash flow to analyze business activities (operating, investing, financing).
60 Prepare payroll records. NBEA Achievement Standards for Accounting: Apply appropriate accounting practices to payroll. ♦ Calculate employer's payroll taxes. ♦ Prepare payroll reports.
62 Determine budgetary requirements for the office. NBEA Achievement Standards for Accounting: Describe how accounting information facilitates management decision-making. ♦ Prepare master and flexible budgets and use them to evaluate performance.
66 Prepare financial statements. NBEA Achievement Standards for Accounting: Assess the financial condition and operating results of a company and analyze and interpret financial statements and information to make informed business decisions. ♦ Determine the impact on the financial statements when assets are sold, disposed, or rendered obsolete. ♦ Discuss the information that can be obtained from analyzing financial statements. ♦ Identify and explain common methods for manipulating financial statements and financial ratios. ♦ Identify sources for obtaining financial reports.