# CTE Resource Center - Verso - Marketing, Advanced Task 90984154

CTE Resource Center - Verso

Virginia’s CTE Resource Center

Explain the roles of financial statements and their importance in decision-making.

Definition

Explanation should include the types of financial statements (e.g., profit/loss, cash flow, balance sheet), their purposes, and ways they influence business decisions.

Process/Skill Questions

  • What area of management would utilize financial statements to make decisions?
  • What are the consequences of false information being reported in financial statements?
  • What financial information should be included as part of a business plan?
  • Why does a marketer need to know the basics of finance?
  • How should a business use financial statements?
  • What area of management is responsible for preparing financial statements?
  • How often are financial statements prepared/updated?

Related Standards of Learning

English

11.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts including employment documents and technical writing.
  1. Apply information from texts to clarify understanding of concepts.
  2. Read and correctly interpret an application for employment, workplace documents, or an application for college admission.
  3. Analyze technical writing for clarity.
  4. Paraphrase and synthesize ideas within and between texts.
  5. Draw conclusions and make inferences on explicit and implied information using textual support.
  6. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  7. Analyze false premises, claims, counterclaims, and other evidence in persuasive writing.
  8. Recognize and analyze use of ambiguity, contradiction, paradox, irony, sarcasm, overstatement, and understatement in text.
  9. Generate and respond logically to literal, inferential, evaluative, synthesizing, and critical thinking questions about the text(s).

12.5

The student will read, interpret, analyze, and evaluate a variety of nonfiction texts.
  1. Use critical thinking to generate and respond logically to literal, inferential, and evaluative questions about the text(s).
  2. Identify and synthesize resources to make decisions, complete tasks, and solve specific problems.
  3. Analyze multiple texts addressing the same topic to determine how authors reach similar or different conclusions.
  4. Recognize and analyze use of ambiguity, contradiction, paradox, irony, overstatement, and understatement in text.
  5. Analyze false premises claims, counterclaims, and other evidence in persuasive writing.

Other Related Standards

National MBAResearch Standards-Business Administration

Acquire a foundational knowledge of accounting to understand its nature and scope.

 

Acquire a foundational knowledge of finance to understand its nature and scope.

 

Manage financial resources to ensure solvency.

 

Utilize planning tools to guide organization's/department's activities.