MONEY MANAGEMENT COMPETENCIES AND EALRS

Students will be able to perform the following:

Working with Records

Competencies

ÿ Explain descriptive, financial, and combination forms (R2.1, R1.2, R1.1)

ÿ Complete descriptive, financial, and combination forms (W2.2, W2.4)

ÿ Verify lists of words, names, and numbers (R2.2)

ÿ Verify computer information (R2.2)

ÿ Arrange the names of people in indexing order (R2.2)

ÿ Arrange the names of people and businesses in alphabetic order (R2.2)

ÿ Describe methods of storing and protecting important records (R1.1, R2.1)

ÿ Make decisions about where to store records for safekeeping (R2.2)

ÿ Reinforce basic math skills (M1.1)

ÿ Develop a vocabulary of recordkeeping terms (R1.2)

EALRS/GLEs

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

o GLE Component 1.1.5-1.1.7: Computations

ÿ Reading 1.1 The student understands and uses different skills and strategies to read--use word recognition and word meaning skills to read and comprehend text

ÿ Reading 1.2 The student understands and uses different skills and strategies to read--build vocabulary through reading

ÿ Reading 2.1 The student understands the meaning of what is read--comprehend important ideas and details

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

ÿ Writing 2.2 The student writes in a variety of forms for different audiences and purposes--write for different purposes

ÿ Writing 2.4 The student writes in a variety of forms for different audiences and purposes--write for career applications

Personal Banking

Competencies

ÿ Identify major types of banking services (R2.1, R1.1)

ÿ Complete a signature card (R3.1, W2.4, W2.2)

ÿ Endorse checks (W2.4, W2.2, R2.2)

ÿ Complete deposit slips (W2.4, W2.2, R2.2)

ÿ Write checks to businesses and individuals (W2.4, W2.2, R2.2)

ÿ Write checks for cash (W2.4, W2.2, R2.2)

ÿ Verify the information on a check to see if it is accurate and complete (R2.2)

ÿ Enter deposits and checks in a check register (W2.4, W2.2, R2.2, M1.1)

ÿ Keep a check register up to date by recording the new balance whenever a deposit is made or a check is written (M1.1, M5.3)

ÿ Identify problems related to an overdrawn account (R2.1, R2.2)

ÿ List the advantages of electronic banking (R1.1, R2.1)

ÿ Reconcile a bank statement and a check register (R2.2, M3.1-3.3, M5.3, M3.1-3.3)

ÿ Describe how computers are used to keep a check register up to date (R2.1)

ÿ Demonstrate skill in adding bills and coins of different denominations (M5.3, M1.1)

ÿ Demonstrate skill in writing amounts of money in words (W2.4)

ÿ Develop a vocabulary of banking terms (R1.2)

EALRS

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

o GLE Component 1.1.5-1.1.7: Computation

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results.

o GLE Component 3.1.1: Analyze Information

o GLE Component 3.3.1-3.3.2: Verify Results

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

o GLE Component

ÿ Reading 1.1 The student understands and uses different skills and strategies to read--use word recognition and word meaning skills to read and comprehend text

ÿ Reading 1.2 The student understands and uses different skills and strategies to read--build vocabulary through reading

ÿ Reading 2.1 The student understands the meaning of what is read--comprehend important ideas and details

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

ÿ Reading 3.1 The student reads different materials for a variety of purposes--read to learn new information

ÿ Writing 2.2 The student writes in a variety of forms for different audiences and purposes--write for different purposes

ÿ Writing 2.4 The student writes in a variety of forms for different audiences and purposes--write for career applications

Personal Budgeting

Competencies

ÿ Identify personal values, needs, wants, and goals (R2.1)

ÿ Prepare weekly and monthly budgets (M1.1, M5.3, R2.2, R3.2, W2.4, M3.1-3.3)

ÿ Prepare cash records (M1.1, M5.3, W2.4, R2.2, R3.2)

ÿ Prove cash records (M1.1, M5.3, R2.2, R3.2, W2.4)

ÿ Prepare a statement of income and expenses (M1.1, M5.3, R2.2, R3.2, W2.4, M3.1-3.3)

ÿ Prepare a budget analysis (M1.1, M5.3, R2.2, R3.2, W2.4, M3.1-3.3)

ÿ Demonstrate skill in adding decimals (M1.1)

ÿ Develop a vocabulary of terms that are related to personal finance (R1.2)

EALRS

ÿ Reading 2.1 The student understands the meaning of what is read--comprehend important ideas and details

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

ÿ Reading 3.2 The student reads different materials for a variety of purposes--read to perform a task

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Writing 2.4 The student writes in a variety of forms for different audiences and purposes--write for career applications

Credit Records

Competencies

ÿ Identify reasons for using credit (R2.1)

ÿ Describe the major types of credit (R1.1, W2.4))

ÿ List things that help people qualify for credit (R2.1)

ÿ Identify the procedures for keeping a good credit rating (R1.1)

ÿ Identify two types of charge accounts granted by retail stores (R2.1)

ÿ Describe the procedures for using bank and other credit cards (R2.1)

ÿ Determine when installment credit should be used (R2.2)

ÿ Calculate the costs of short-term credit (M1.1, M5.3, M1.5)

ÿ Identify some of the purposes of loans (R1.1)

ÿ Identify the parts of a promissory note (R2.1)

ÿ Compute monthly loan payments using a table (M1.1, M5.3)

ÿ List the major types of car expenses and records (R1.1)

ÿ Demonstrate skill in converting percents to decimals and multiplying dollar amounts by decimals (M1.1)

ÿ Demonstrate skill in dividing one number by another (M1.1)

EALRS

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 1.5 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from algebraic sense

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Reading 1.1 The student understands and uses different skills and strategies to read--use word recognition and word meaning skills to read and comprehend text

ÿ Reading 2.1 The student understands the meaning of what is read--comprehend important ideas and details

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

ÿ Writing 2.4 The student writes in a variety of forms for different audiences and purposes--write for career applications

Receiving Cash

Competencies

ÿ Prepare sales slips (M1.1, M5.3)

ÿ Prepare sales receipts (M1.1, M5.3)

ÿ Identify procedures for handling bank credit card sales (R2.1)

ÿ Compute total cash receipts (M1.1, M5.3)

ÿ Compute sales taxes (M1.1, M5.3)

ÿ Use sales tax tables to find the amount of tax for a sale (M1.1, M5.3)

ÿ Add the sales tax to the subtotal on a sales slip, and compute the total of the sales slip (M1.1, M5.3)

ÿ Compute the correct change that should be given to a customer (M3.1-3.3, M1.1)

ÿ List the coins and bills to be given as change (M1.1, M5.3)

ÿ Determine whether a check is acceptable as payment (R2.2)

ÿ Prepare a cash refund slip (M5.3)

ÿ Determine the amount of sales tax for a cash refund (M1.1, M5.3)

ÿ Match check received by mail with bill stubs (R2.2)

ÿ Prove the total of checks received against the total of bill stubs received (R2.2)

ÿ Complete payment slips (M5.3)

EALRS

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Reading 2.1 The student understands the meaning of what is read--comprehend important ideas and details

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

Cashier’s Activities

Competencies

ÿ Compute the total currency and coins (M5.3, M1.1)

ÿ Compute the total checks and paid-out slips (M5.3, M1.1)

ÿ Compute the total cash receipts (M5.3, M1.1)

ÿ Prepare a proof of cash (M3.1-3)

ÿ Determine whether the actual cash received agrees with the detailed audit tape (M3.1-3)

ÿ Prepare a daily cash register report (R3.2, R3.4, M3.1-3)

ÿ Prepare a department summary report of cash sales (M3.1-3)

ÿ Demonstrate improved skill in adding currency and coins (M5.3)

EALRS

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results.

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Reading 3.2 The student reads different materials for a variety of purposes--read to perform a task

ÿ Reading 3.4 The student reads different materials for a variety of purposes--read for career applications

Records for Small Businesses

Competencies

ÿ Record receipts and payments in a classified cash book (M5.3, M1.1)

ÿ Prove and close a classified cash book (M3.1-3.3)

ÿ Use the totals of a classified cash book to calculate estimated receipts and payments for a later budget spreadsheet (M3.1-3,3)

ÿ Prepare a budget analysis for a small business (M5.3, M1.1)

ÿ Identify advantages of using an electronic spreadsheet for budget records (R1.1)

ÿ Indicate ways of using computer graphics to illustrate budget data (R1.1)

ÿ Interpret information from computerized budget records and graphs (R2.2)

ÿ Round given amounts of money to the nearest dollar (M1.1)

EALRS

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results.

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Reading 1.1 The student understands and uses different skills and strategies to read--use word recognition and word meaning skills to read and comprehend text

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

Petty Cash and Travel Records

Competencies

ÿ Identify which of several cash payments should be made from the petty cash fund and which should be made by check (R1.1, R2.2)

ÿ Prepare petty cash vouchers (M1.1, M3.1-3.3, M5.3)

ÿ Prepare a petty cash summary (M1.1, M3.1-3.3, M5.3)

ÿ Make entries in a petty cash book (M1.1, M3.1-3.3, M5.3)

ÿ Prove and close a petty cash book (M1.1, M3.1-3.3, M5.3)

ÿ Prepare travel expense authorizations (M1.1, M3.1-3.3, M5.3)

ÿ Prepare travel vouchers (M1.1, M3.1-3.3, M5.3)

ÿ Compute mileage charges using the stipulated rate per mile and the number of miles driven (M1.1, M5.3)

EALRS

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results.

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Reading 1.1 The student understands and uses different skills and strategies to read--use word recognition and word meaning skills to read and comprehend text

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

Business Banking Records

Competencies

ÿ Count and wrap bills and coins (M1.1, M5.3)

ÿ Prepare a cash tally sheet for bills and coins (M1.1, M5.3)

ÿ Prepare a bank deposit slip for bills and coins (M1.1, M5.3)

ÿ Prepare checks for deposit (M1.1, M5.3)

ÿ Prepare credit card sales slips for deposit (M1.1, M5.3)

ÿ Prepare a deposit slip for checks and credit card sales slips (M1.1, M5.3)

ÿ Maintain a checkbook for a business checking account (M1.1, M5.3)

ÿ Reconcile a bank statement for a business when there are outstanding checks, deposits in transit, and service charges (M1.1, 3.1-3, M5.3)

ÿ Demonstrate improved skill in determining the total value of bills and coins of various denominations (M1.1, 3.1-3, M5.3)

EALRS

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results.

**The competencies and EALRS for the two money management simulations (one at the end of each quarter will demonstrate all of the competencies and EALRS the students have performed up to that point.

ÿ Complete a personal money management simulation (first quarter)

ÿ Complete a business money management simulation (second quarter)

EALRS and corresponding GLEs

ÿ Math 1.1 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from number sense

ÿ Math 1.5 The student understands and applies the concepts and procedures of mathematics--understand and apply concepts and procedures from algebraic sense

ÿ Math 3.1-3.3 The student uses mathematical reasoning--analyze information, predict results and make inferences, and draw conclusions and verify results.

ÿ Math 5.3 The student understands how mathematical ideas connect within mathematics, to other subject areas, and to real-life situations--relate mathematical concepts and procedures to real-life situations

ÿ Reading 1.1 The student understands and uses different skills and strategies to read--use word recognition and word meaning skills to read and comprehend text

ÿ Reading 1.2 The student understands and uses different skills and strategies to read--build vocabulary through reading

o Use vocabulary strategies to understand new words and concepts in literary/narrative text and informational/expository text.

o Use graphic features to clarify and extend meaning.

ÿ Reading 2.1 The student understands the meaning of what is read--comprehend important ideas and details

o Use previous experience, knowledge of current issues, information previously learned to make connections, draw conclusions and generalize about what is read.

o Select from multiple choices a sentence that best summarizes the text.

o Develop questions before, during, and after reading and use knowledge of questioning strategies to locate answers.

ÿ Reading 2.2 The student understands the meaning of what is read--expand comprehension by analyzing, interpreting, and synthesizing information and ideas

o Use text features to verify, support or clarify meaning

o Independently apply understanding of text structure to the acquisition, organization, and application of information.

ÿ Reading 3.1 The student reads different materials for a variety of purposes--read to learn new information

ÿ Reading 3.2 The student reads different materials for a variety of purposes--read to perform a task

o Read instructions, credit card or job applications, legal documents such as contracts, policies, and timetables to perform everyday life functions.

ÿ Reading 3.4 The student reads different materials for a variety of purposes--read for career applications

o Select, use, monitor and adjust appropriate strategies for different reading purposes.

o Select and use appropriate skills for reading a variety of documents.

ÿ Writing 2.2 The student writes in a variety of forms for different audiences and purposes--write for different purposes

ÿ Writing 2.4 The student writes in a variety of forms for different audiences and purposes--write for career applications

Employability Skills:

The student will:

ÿ Select goal-relevant activities, rank them, allocate time, and prepare and follow schedules.

ÿ Use and prepare budgets

ÿ Use interpersonal skills to teach others new skills

ÿ Acquire and evaluation new information, and organize and maintain information.

Leadership Skills:

The student will:

ÿ Analyze, refine, and apply decision-making skills through classroom, family, community, and business and industry (work-related) experiences.

ÿ Be involved in activities that require applying theory, problem, solving, and using critical and creative thinking skills while understanding outcomes of related decisions.

ÿ Demonstrate social responsibility in family, community, and business and industry.

ÿ Understand the organizational skills necessary to be a successful leader and citizen and practice those skills in real life.

Career Options:

The student will:

ÿ Understand the different career options related to this course. Listed below are some of the career choices that students might be qualified to fill after completing this course.

· Accountant

· Adjustment Clerk

· Administrative Assistant

· Bill and Account Collector

· Billing, Cost and Rate Clerk

· Billing/Posting Machine Operator

· Bookkeeping and Accounting Clerk

· Cashier

· Counter Clerk

· Credit Analyst

· Credit Checker

· Credit Loan Clerk

· Data Entry Keyer

· File Clerk

· General Office Clerk

· Insurance Processing Clerk

· New Accounts Clerk

· Order Clerk

· Proofreader

· Retail Sales Person/Manager/Supervisor

· Secretary

· Shipping and Receiving Clerk