I. Bellwork: Budget Challenge
II. Learning Objectives:
- Discover money personality, including spending and saving propensity
- Describe the reasons for maintaining a budget
- Build a budget by prioritizing needs and wants
- Develop a system for tracking income, spending, and savings
- Devise a contingency plan for covering unexpected expenses
III. Classwork Lesson 3 Budgeting
IV. Exit Ticket
Q1: How would you prioritize spending?
- What are some spending areas that might be prioritized by people, yet shouldn’t be?
- What are some spending areas that should be prioritized but often aren’t?
Q2: What are some of your long-term financial goals that might be achievable by creating a budget and sticking to it?
• What tool or system would you consider using to help you stick to your budget?
Q3: How much do you think you should have in your emergency fund?
• What would qualify as a good reason to use your emergency fund?
Based upon the Payoff Matrix below:
- Does McDonald’s have a dominant strategy? Explain.
- Does Burger King have a dominant strategy? Explain
- Is there a Nash/Non-cooperative equilibrium/ Explain
- Construct and interpret payoff matrices.
- Explain the payoffs, dominant strategies, and Nash equilibrium given a payoff matrix
III. Classwork Pages 656-657
- Check Your Understanding 1-2
- Multiple Choice 1-5
- Tackle the Test #2
IV. Homework: Questions on AP classroom – closes Sunday
I. Bellwork: Q&A –
- Page 231 Economic Analysis
- Page 235 Economic Analysis
- Analyze and evaluate the methods in which the government generates revenue.
- Determine the meaning of words and phrases as they are used in a text
- Identify and classify taxes as progressive, regressive, and proportional according to the methods implemented to generate revenue.
- Integrate and evaluate multiple sources of information in order to address how taxation should be used to address government deficits.
IV. Make-up after school Today – I leave at 3:20
- Page 229 Vocabulary (16)
- Page 236 Q&A 2-6
A. Internet Search: Accounting Control – Segregation of Duties
- Explain the concept of segregation of duties in accounting.
- Provide an example of segregation of duties in accounting
- Explain why is segregation of duties is important to a business.
- Interpret, analyze, and journalize financial transactions in accordance with Generally Accepted Accounting Procedures.
- Post from the General journal to the general ledger accounts
III. Classwork: Finish Today
- Pages 154 -155 Reinforcement Activity – Part 1
- Aug 19 – Aug 31 – Post all the entries on page to to the ledger