Flipped Lesson Plan: Balance Sheets

Monday, October 16th, 2023

CTE 492 : Business and Marketing Education Methods

Balance Sheets

Overview
Timeframe: 90 minutes
General Focus: We will learn about the different aspects of balance sheets, discuss their importance, and analyze various balance sheets.

Standards
Idaho Applied Accounting Program Standards
2.1.14 Classify items such as assets, liabilities, or owner's equity
2.3.1 Prepare balance sheets
2.3.6 Analyze a company's financial situation using its financial statements
2.3.7 Explain how accounting information is used to allocate resources in the business and personal decision-making process

Objectives
Students will be able to (SWBAT):
Identify and define the different components of a balance sheet, including assets, liabilities, and owner's equity.
Calculate total assets, liabilities, and owner's equity.
Apply knowledge learned about balance sheets to real world businesses.
Describe and analyze the financial status of companies and make informed investing decisions.

Outcomes: What Measures the Objectives Have Been Met?

Students will demonstrate competency by:
Completing the 10-question summative assessment via google forms at the beginning of class will demonstrate student competency in listening to and understanding
the recorded lecture given prior to class. This will assess students knowledge of the different components of the balance sheet.
Completing and presenting the investment brief their group came up with will demonstrate competency in analyzing and making informed investing decisions using
balance sheets.

Prior Knowledge
Students will have prior knowledge of assets and liabilities from previous lessons and possibly from previous economics and/or personal finance courses. Students may
come in with varying knowledge and experiences with accounting and businesses financial statements. No prior knowledge will be assumed regarding business sheets.

Academic and Content Language

reinforced vocabulary: assets, liabilities, financial statements, accounts receivable, inventory, investments, accounts payable, debt
new vocabulary: current assets, non-current assets, current liabilities, non-current liabilities, equity/owner's equity, balance sheet equation

All of these will be addressed in the prerecorded powerpoint lecture, however students can utilize our class Quizlet on financial statements for more review and practice if
needed. https://quizlet.com/839242318/balance-sheet-flash-cards/?i=4w9fyd&x=1qqt

Anticipated Areas of Misunderstanding

Students may struggle with the differences between current and non-current assets/liabilities and how to categorize certain items. They can rewatch the recorded
powerpoint lecture for clarification, use the Quizlet, and during class instruction it will be gone over multiple times with more real life examples.
Different resources have different names for current/non-current assets/liabilities which may confuse students as they are doing further research. I will explain that this
happens and to determine which it is, students need to look at how they are classifying those items.

Procedures
Starter (Pre-work/Flipped Classroom)
1. At home, students will watch my pre-recorded balance sheet lecture. https://app.box.com/s/mouswpnmp4zfozbb30cz7u75n9hlbrzn
2. At home, if students need more review, they can review the video, reading, and balance sheet examples here: https://www.investopedia.com/terms/b/balancesheet.asp

Engage (5 minutes)
Have powerpoint start out going over administrative items and the plan for the day and the day's objective. Give students opportunity to ask
questions. https://app.box.com/s/da0knrr7do4v9dymqstvh1pmxrres1p5
Summative Assessment (5 minutes)
Have students complete the summative assessment about balance sheets and its components discussed in the pre-work powerpoint lecture.
https://www.surveymonkey.com/r/QHKBPZT

Explore and Application

Direct Instruction (0-5 minutes- if necessary): Depending on results on students assessment and their feedback, I will review some of the key aspects of balance
sheets. (0-5minutes)
Guided Practice: (10 minutes) As a class we will look at Apple's balance sheet. We will identify their assets, liabilities, and equity. While reviewing the balance sheet,
incorporate Bloom's questioning strategy by prompting students with s:
What kinds of things are listed on the balance sheet?
Explain why might these be important for investors?
Analyze how balance sheets can inform business owners?
Independent Practice(10 minutes-15minutes) : Students will read this article and jot down in their notes these questions to guide their thinking:
How much is a company worth? How do you know?
What is a company actually buying in a merger or acquisition?
After we will have a brief all class discussion so students can share their ideas and make sure their notes are accurate. I will make sure to emphasize that it is
important to look at both the assets and liabilities of a company and that a companies value is closely related to the its current equity
Cooperative Learning( 20 minutes):
Students will break into assigned groups and will take the role of financial analysis's. Each group will look at Chipotle's balance sheets from 2018 and 2019. Each
group will discuss and decided whether they would like to invest in Chipotle or not and why.
Groups will be made based on skill and level of support needed. I will differentiate instruction by providing groups with direction and guide on analyzing the
different aspects of the balance sheets.
I will encourage students to compare and contrast the two different balance sheets and analyze if things are getting better or worse for Chipotle.
Students will be asked to prepare a 2-3 minute investment brief where they must convince the class whether or not they should invest. Students will have choice in
how they would like to do this (i.e. prepare a powerpoint presentation, a written report, etc). Students must provide evidence and reasoning to support their
decision and must use data from both the 2011 and 2012 balance sheets. I will show them an example brief and the rubric.
Students should practice their presentations during this time as well.
Presentations (15-20 minutes):
Each group will present their brief to the class

Closure (10-15 minutes)

Group Discussion: As a group we will take a poll on whether or not we should invest in Chipotle and reinforce the idea of the balance sheet equation, and specifically
equity/company's worth. Drive home the idea of the purpose of the balance sheet and how it gives businesses and investors a snapshot of a company's assets, liabilities,
and value of the company at a given point in time and how to use multiple ones to analyze and predict its trajectory.
Exit Ticket- Windshield Check: Students will complete this quick windshield check at the end of the day to gauge how they are feeling about balance sheets. This will
inform me if we need to go over anything again before we get to the end of unit project where students will be asked to take on the role of an accountant an "end of the
month financial statement" which will include a balance sheet, income statement, and profit and loss statement. https://www.surveymonkey.com/r/3LPT3YJ

Deliverables/Assessment
Students will be assed based on their summative assessment (online) at the beginning of class.
Students will be assessed on their investment brief (group's visual aide and the presentation itself).

Modifications
I will provide differentiated instruction during group work based on individual and group needs.
Students may need written instruction which can be provided for them.
Any other modifications that may be needed can be requested through contacting me in class or via email.
Extension: students or groups that are finished early will be encouraged to research and look at other company's balance sheets that they are interested in learning more
about.

Materials
Chromebooks: every student will have a 1:1 device to watch the pre-recorded lecture at home, take the summative assessment, access the materials, work on their
investment brief with, and complete the windshield check
Pre-recorded lecture: https://app.box.com/s/mouswpnmp4zfozbb30cz7u75n9hlbrzn
Powerpoint for class: https://app.box.com/s/da0knrr7do4v9dymqstvh1pmxrres1p5
Summative assessment https://www.surveymonkey.com/r/QHKBPZT
Article: Big-Scale Buying and Selling: Dealing in Mergers & Acquisitions. https://globalyouth.wharton.upenn.edu/articles/big-scale-buying-and-selling-dealing-in-mergers-
acquisitions/
Apple's balance sheet https://www.sec.gov/Archives/edgar/data/320193/000032019317000070/a10-k20179302017.htm#sCE31BDFF50DA58B8962157DE8467840C (page
43)
Chipotle's balance sheet
2018 https://app.box.com/s/ngowk35cw7h59s41zlz324dq50rmtpck (page 35)
2019 https://app.box.com/s/v8tydi1ifvtfzy4uqdj03o9mx86yxvvq (page 41)
Examples of investment briefs from previous year
Windshield Check https://www.surveymonkey.com/r/3LPT3YJ
Printed out materials as requested
Reflections
1. What went well? Why?
2. What did not go as you planned/expected? Why?
3. If you were to teach this lesson again to the same group of students, what changes would you make to your instructional strategies that would improve the student
learning? Why?
4. How did the student's connect with the examples (Apple and Chipotle)? Should different companies be chosen?
5. Was the article an appropriate reading level for the students?
6. How did the cooperative learning go? Was this the most appropriate way to split up groups?
7. Did the students meet the objectives? How did you know?
8. How did you use feedback from the students to make instructional decisions while you were teaching the lesson?
9. How effective were the assessment tools in monitoring student progress? What modifications could be made to help students demonstrate their knowledge?
10. Based on the results of the less, what are your next steps?