Lesson Objective: Basics for creating Profit and Loss Statements

Materials and Tools Needed:
  • Computer
  • Login and Password to www.blabberize .com
  • Internet

Each student will create a mock Profit and Loss statement based on their business of interest. The business must have 3 types of income and have 10 related expenses. The income can be revenue from sales, interest earned, work performed, unearned revenue, customer fees and penalties. The expenses can be rent, mortgage, utilities, cost of sales, labor, office supplies, contract labor, materials, and any other related operating expense to the business.

The students will then make a line item for each income and expense without calculating the revenue and expenses. The students will then trade their line items with another student.

After the trade each student will calculate revenue and expenses using Microsoft Excel. Once the revenue and expense have been calculated, the students can now calculate the profit or loss for the mock company.

Using the Web 2.0 tool blabberize:
Once the Profit and Loss statement has been created and calculated. Each student will download a picture on an iconic American figure. Using this picture they will create a 60 second presentation using blabberize to evaluate their partners profit and loss statement.

The Presentation:
The students will have 25 minutes to gather information for the presentation. The presentation must be no less than 60 seconds. The presentation needs to state the name of the company, what the company does, and analyze the revenue and expenses that gave them the profit and loss for the company. The students will email the link to the teacher. The teacher will then present the presentation to the class.

The student using blabberize will answer the question of is a profit and loss statements, and will email the link to the teacher.

Cool Tools Review:

Cool tools carousel: I started out with Laura Fogle’s group “Creatively Synthesize, Evaluate, Publish and Share”. I really enjoyed learning about the web 2.0 tools blabberize and toondoo. I have been using both at home right now with my five year old son. I can really see myself using these web 2.0 tools often in my classroom. I wish there was more time to learn about Google Docs in this session though. The second group I went to was “Developing a Framework for how to Find and Select tools”. The tool that I like the most was the similar website page. It was fun to learn that there are multiple websites that do the same thing. I’m a creature of habit, so I use the same websites over and over. It will be good to step out of the box and try to see if I can enjoy other websites. The last group I attended was “Developing a Compelling Question/Gather & Analyze Information Facilitator”. During the session I created a live binder that Gail had showed us. I can see myself using live binder in the future.

Cool tools & hot topic:. I attended the “Making Global Connections” session. I didn’t like this session. I really thought that it was going to show me how to make actual global connections, but it turned out to be a business venture instead of learning how to use global connections in the classroom.

Cool Tools for Learning: Common Core/ New Essential Standards within the Discipline: I attended the Math session, which turned out to be really interesting. I enjoyed dropping Barbie 20 feet. Even though we didn’t estimate the right amount of rubber bands and lost the contest, I still enjoyed the activity. The App Core Math Tool helped us by easily graphing data from a formula. I can see math teachers using this in their classrooms to graph data.