Examine aspects of financial responsibility within an industry/organization.
DefinitionExamination 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.
- 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.
- Copy for each student of "Payroll Definitions"
- Copy for each student of Employment Forms (W-4, VA-4, I-9) may be found on the Web.
- Worksheet for each student, "Bi-Weekly Payroll for Hourly Employees"
- Copy for each student of Federal and State Tax Tables (to be used in calculating payroll) may be found on the Web.
- "Calculating Bi-Weekly Payroll for Hourly Employees---Answer Sheet"
- Teacher notes