Section outline


  • Business Scenario

    Learning Intentions

    • To explore how financial information is used to make decisions. 
    • To explore how businesses record financial information.
    • To experience running a business as a team in a simulation scenario
    Success Criteria
    • Can explain how financial and non-financial information supports decision making at home and in business.
    • Able to record transactions in a Cash Flow Statement and summarise them in a Balance Sheet & Income Statement
    • Have run a simulated business as a team.

    Introduction to Accounting and the Business Scenario

    Accounting is recording and analysing financial information to help people to make decisions. The Google Doc in Classroom has some notes and activities.

    This term, we'll work in small teams to simulate running a business. We'll pretend that the term covers the 6 months January to June. Each week, the teacher will give your team a card or situation that you have to discuss, make a decision on, and then record the effects in a Cash Flow Statement. Later on, you'll prepare a Balance Sheet (Statement of Financial Position) and an Income Statement (Statement of Financial Performance in order to summarise what's happened.

    Everything you need is in the Google Doc called Business Scenario in Google Classroom. The tables that you'll be completing look like these below: