Income Statements vs. Balance Sheet
(206 Students)
Activity Description
This engaging drag-and-drop activity is designed to help students master the classification of financial entries into the appropriate sections of an income statement or balance sheet. Students will be provided with a variety of entries, such as revenues, expenses, assets, liabilities, and owner's equity items.
They will then drag each entry to its correct category, reinforcing their understanding of how financial statements are structured and the relationships between different financial components. This hands-on approach makes learning accounting concepts fun and interactive, promoting better retention and comprehension.
Features:
- Interactive drag-and-drop functionality
- Varied entries to ensure comprehensive practice
- Suitable for high school students studying accounting or finance
Teacher Tips
Included with the activity, you can view the tips to clarify student's doubts or to evaluate answers (for a teacher scored worksheet).
FBLA -
THE GLOBAL BUSINESS ENVIRONMENT
Define terms such as culture, multiculturalism, stereotyping, xenophobia, cultural bias and their effects on conducting business internationally
FBLA -
CAREER EXPLORATION & RESEARCH
Identify and describe careers of family members and/or friends
FBLA -
CONTRACT LAW, LAW OF SALES, AND CONSUMER LAW
Define the nature of a contractual relationship
FBLA -
THE ACCOUNTING PROCESS
Explain how the different types of business operations are reflected in the financial statements
FBLA -
CONCEPTUAL FRAMEWORK OF ACCOUNTING
Explain the accounting methods used to determine the value of accounts receivable to be reported on the balance sheet and describe the effect on the income statement
