# CTE Resource Center - Verso - Electronics Systems I Task 965916593

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Examine aspects of financial responsibility within an industry/organization.

Definition

Examination should include
  • accounting processes
  • financial decision-making processes, including budget development
  • methods of acquiring capital
  • management of financial operations, including payroll, transactions, records, and reports.

Process/Skill Questions

  • What resources are available to assist you with the various financial functions?
  • What are possible consequences of not having in place checks and balances for the full range of a business’s finances?

Other Related Standards

Suggested Learning Activities

Finance: Calculating Payroll Deductions

Objective: Demonstrate use of payroll forms, deductions, and the method used to calculate gross pay and net pay.
Materials:

  1. Copy for each student of "Payroll Definitions
  2. Copy for each student of Employment Forms (W-4, VA-4, I-9) may be found on the Web.
  3. Worksheet for each student, "Bi-Weekly Payroll for Hourly Employees
  4. Copy for each student of Federal and State Tax Tables (to be used in calculating payroll) may be found on the Web.
  5. "Calculating Bi-Weekly Payroll for Hourly Employees---Answer Sheet"
  6. Teacher notes

Finance: Providing Input for Your Company's Budget

Objective:  Prepare a budget.
Materials:  A copy for each student of "Budgeting Case Study", Teacher Notes