BMAS 12'0

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BMAS 12.0

• Prepare Financial Records Needed in Business
  Management

Business Management and Administrative Services
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BMAS 12.0 Prepare Financial Records Needed in
Business Management

• 12.1 Explain the purpose of an annual business
  budget
• 12.2 Explain checking account records
• 12.3 Describe how management of accounts payable
  and accounts receivable affects a business
• 12.4 Explain the purpose and components of
  financial statements
• 12.5 Interpret payroll records/information
• 12.6 Explain the purpose of an independent audit
• 12.7 Identify and explain various payroll and tax
  forms such as I-9, W4, 940, 941, DES

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12.1 Explain the purpose of an annual business
budget

• Read
• BUDGET SYSTEMS BMAS pg. 392
• Take notes using class format
• What is the purpose of a budget?
• TYPES OF BUDGETS BMAS pgs. 393-398
• Take notes using class format
• Make a copy of Figure 15-8 using Excel and
  PowerPoint

Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
Parenthetical Citations, Reference Page, First
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Cash Budgetfor Three Months Ending March 31, 20--
Figure 15-8 A Cash Budget
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12.2 Explain checking account records

• Read
• CHECKING ACCOUNTS BMAS pg. 458
• Take notes using class format
• What are checking account records used for?

Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
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12.3 Describe how management of accounts payable
and accounts receivable affects a business

• Make a copy of Figure 16-3 using Excel and
  PowerPoint
• Define financial statements
• Read
• BALANCE SHEET BMAS pgs. 410-413
• Take notes using class format
• Define assets

Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
Parenthetical Citations, Reference Page, First
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Figure 16-3 The balance sheet shows the
financial position of a company on a given date
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12.4 Explain the purpose and components of
financial statements

• Read
• USES OF FINANCIAL REPORTS BMAS pgs. 409-410
• Take notes using class format (copy Figure 16-1)
• FINANCIAL STATEMENTS BMAS pg. 410
• Take notes using class format
• Define income statement
• Explain the purpose of financial statements.
• What are the components of financial statements?

Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
Parenthetical Citations, Reference Page, First
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Figure 16-1 The financial reports of a business
serve a variety of purposes.
USER NEEDS FINANCIAL DATA TO Manager make
day-to-day decisions. review post results. plan
for the future Owner decide whether to increase
or decrease ownership investment. decide whether
to continue business operations. Supplier decide
whether to extend credit. decide how much
credit to extend. Lender decide whether to lend
a business money. decide on the terms of a loan
to a business (amount, time period, and interest
rate). Union determine fair increases in wages,
salaries, and fringe benefits. Government arrive
at fair tax rates detect fraudulent practices.
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12.5 Interpret payroll records/information

• Read
• PAYROLL RECORDS BMAS pg. 391
• Take notes using class format
• Using Figure 15-5 interpret payroll
  records/information.

Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
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11
12.6 Explain the purpose of an independent audit

• Define independent audit
• What is the purpose of an independent audit?

Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
Parenthetical Citations, Reference Page, First
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12
12.7 Identify and explain various payroll and tax
forms such as I-9, W4, 940, 941, DES

• Read
• KINDS OF TAXES BMAS pgs. 181-183
• Take notes using class format
• Research
• Look up and print
• I-9
• W4
• W2
• 940
• 941
• DES

Explain what each is used for.
Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
Parenthetical Citations, Reference Page, First
Page of all Web Sites
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12.7 Identify and explain various payroll and tax
forms such as I-9, W4, 940, 941, DES
Explain what each is used for.

• Research
• Look up and print
• I-9 Employment Eligibility Verification
• W4 Employees Withholding Allowance Certificate
• W2 Wage and Tax Statement
• 940 Employers Annual Federal Unemployment
  (FUTA) Tax Return
• 941 Employers QUARTERLY Federal Tax Return
• DES

Paper double spaced, 1 inch margins, 12 point,
TNR, include footer
Parenthetical Citations, Reference Page, First
Page of all Web Sites