# CTE Resource Center - Verso - Accounting, Advanced FBLA Competitive Events and Activities Areas Correlation by Task

CTE Resource Center - Verso

Virginia’s CTE Resource Center

FBLA Competitive Events and Activities Areas Correlation by Task

In this course, the following tasks/competencies reinforce the standards listed beside them. Teachers may identify additional reinforcements in locally developed instructional materials.

Task/Competency Number Task/Competency Statement Standards
39 Perform accounting procedures, using spreadsheet or accounting software. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Entrepreneurship ♦ Global Business ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Personal Finance ♦ Securities and Investments ♦ Spreadsheet Applications
40 Create computer-generated reports. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Computer Applications ♦ Database Design & Applications ♦ Entrepreneurship ♦ Global Business ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Personal Finance ♦ Securities and Investments ♦ Spreadsheet Applications
41 Apply technology used in the accounting profession. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Computer Applications ♦ Database Design & Applications ♦ Entrepreneurship ♦ Global Business ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Personal Finance ♦ Securities and Investments ♦ Spreadsheet Applications
42 Explain the differences between a perpetual inventory system and a periodic inventory system. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Computer Applications ♦ Entrepreneurship ♦ Global Business ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Personal Finance ♦ Securities and Investments ♦ Spreadsheet Applications
43 Record transactions, using a perpetual and periodic inventory system. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
44 Determine the cost of merchandise inventory, using current costing methods. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
45 Prepare a multiple-step income statement. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
46 Calculate inventory turnover ratios. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
47 Analyze obsolete, damaged, or slow-moving inventory. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
48 Identify security considerations related to inventory. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Cyber Security ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
49 Calculate the cost of fixed assets. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
50 Compare the methods of calculating depreciation. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
51 Record the depreciation of plant assets. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
52 Record the sale, trade-in, and disposal of plant assets. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
53 Identify notes payable and notes receivable activities. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
54 Calculate notes payable and notes receivable activities. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
55 Journalize entries for issuing and collecting a note. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Spreadsheet Applications
56 Describe the relationship between the Bad Debts Expense Account and Allowance for Doubtful Accounts when recording bad debts. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
57 Record for doubtful accounts receivable. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
58 Describe the purpose of aging accounts receivable. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
59 Prepare an aging of accounts receivable report. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
60 Record adjustments for accrued expenses. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Spreadsheet Applications
61 Record adjustments for accrued and deferred income. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Spreadsheet Applications
62 Examine procedures for decentralized (e.g., departmental or branch) accounting systems. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
63 Perform budgetary planning and review and other financing activities. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
64 Identify procedures for manufacturing accounting. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
65 Identify the components of a partnership agreement. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Law ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
66 Record the entry for formation of a partnership. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Law ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making ♦ Spreadsheet Applications
67 Perform end-of-period activities for a partnership. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Law ♦ Introduction to Financial Math ♦ Spreadsheet Applications
68 Record the distribution of earnings. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Law ♦ Introduction to Financial Math ♦ Spreadsheet Applications
69 Record the admittance of a new partner and the withdrawal of a partner. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Law ♦ Introduction to Financial Math ♦ Spreadsheet Applications
70 Record the dissolution of a partnership. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Law ♦ Introduction to Financial Math ♦ Spreadsheet Applications
71 Distinguish the characteristics, advantages, and disadvantages of a corporation. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Law ♦ Introduction to Business ♦ Introduction to Financial Math
72 Identify the differences between preferred stock and common stock. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Business ♦ Introduction to Financial Math ♦ Securities and Investments
73 Record entries for issuing stock. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Spreadsheet Applications
74 Perform end-of-period activities for a corporation. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Spreadsheet Applications
75 Prepare a Statement of Retained Earnings. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Spreadsheet Applications
76 Record the calculation for dividend distribution. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Introduction to Financial Math ♦ Spreadsheet Applications
77 Assess the financial strength of a business and its effect on the business, industry, and economy. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
78 Assess the value of a company’s intangible assets. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
79 Interpret reports to provide data for recommendations or presentations to management. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
80 Analyze cash-flow statements. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
81 Perform a trend analysis, using vertical and horizontal analysis. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
82 Utilize financial statements for financial management suggestions. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Introduction to Financial Math ♦ Management Decision Making
83 Investigate the role of accounting standards boards in the accounting profession. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Management Decision Making
84 Research state and national organizations and laws that govern the accounting profession. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Ethics ♦ Business Financial Plan ♦ Business Law ♦ Business Plan ♦ Management Decision Making
85 Research instances of unethical accountancy activities, including possible consequences to individuals and the economy. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Ethics ♦ Business Financial Plan ♦ Business Law ♦ Business Plan ♦ Management Decision Making
86 Identify desirable traits of professionals in the accounting field. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Ethics ♦ Business Financial Plan ♦ Business Law ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview ♦ Management Decision Making
87 Identify ethical considerations for accounting professionals. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Ethics ♦ Business Financial Plan ♦ Business Law ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview ♦ Management Decision Making
88 Describe the process and requirements for obtaining industry certifications and/or taking CLEP examinations related to the Accounting, Advanced course. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview ♦ Management Decision Making
89 Identify testing skills/strategies for a certification and/or CLEP examination. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Business Financial Plan ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview
90 Demonstrate the ability to complete selected practice examinations (e.g., practice questions similar to those on certification or CLEP exams). FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview
91 Complete an industry certification or CLEP examination representative of skills learned in this course (e.g., CLEP). FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview
92 Differentiate between government, public, and private accounting. FBLA Competitive Events and Activities Areas: Accounting II ♦ Banking and Financial Systems ♦ Job Interview
93 Investigate accounting and financial certification and designations. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview
94 Investigate accounting careers. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Financial Plan ♦ Business Plan ♦ Electronic Career Portfolio ♦ Job Interview
95 Update a résumé in a format suitable for online posting. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Communication ♦ Business Financial Plan ♦ Business Plan ♦ Computer Applications ♦ Electronic Career Portfolio ♦ Future Business Leader ♦ Job Interview ♦ Word Processing
96 Complete a job application process. FBLA Competitive Events and Activities Areas: Accounting I ♦ Accounting II ♦ Banking and Financial Systems ♦ Business Communication ♦ Business Financial Plan ♦ Business Plan ♦ Electronic Career Portfolio ♦ Future Business Leader ♦ Job Interview
97 Participate in a mock interview. FBLA Competitive Events and Activities Areas: Electronic Career Portfolio ♦ Future Business Leader ♦ Job Interview ♦ L. Marguerite Crumley, Frank Manning Peele, Foundation's Sarah Lowe Thompson Scholarships
98 Compose a letter of resignation. FBLA Competitive Events and Activities Areas: Electronic Career Portfolio ♦ Future Business Leader ♦ Job Interview ♦ L. Marguerite Crumley, Frank Manning Peele, Foundation's Sarah Lowe Thompson Scholarships ♦ Word Processing
99 Update a portfolio containing representative samples of student work. FBLA Competitive Events and Activities Areas: Electronic Career Portfolio ♦ Future Business Leader ♦ Job Interview ♦ L. Marguerite Crumley, Frank Manning Peele, Foundation's Sarah Lowe Thompson Scholarships ♦ Word Processing
100 Maintain a professional online presence. FBLA Competitive Events and Activities Areas: Electronic Career Portfolio ♦ Future Business Leader ♦ Job Interview ♦ L. Marguerite Crumley, Frank Manning Peele, Foundation's Sarah Lowe Thompson Scholarships ♦ Word Processing