Financial Analysis

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Instructional Area: Financial Analysis (FI)

Standard: Understands tools, strategies, and systems used to maintain, monitor, control, and plan the use of financial resources

Performance Element: Understand the fundamental principles of money needed to make financial exchanges.

Performance Indicators:
Explain forms of financial exchange (cash, credit, debit, electronic funds transfer, etc.) (FI:058) (PQ)
Identify types of currency (paper money, coins, banknotes, government bonds, treasury notes, etc.) (FI:059) (PQ)
Describe functions of money (medium of exchange, unit of measure, store of value) (FI:060) (PQ)
Describe sources of income (wages/salaries, interest, rent, dividends, transfer payments, etc.) (FI:061) (PQ)
Explain the time value of money (FI:062) (CS)
Explain the purposes and importance of credit (FI:002, LAP-FI-002) (CS)
Explain legal responsibilities associated with financial exchanges (FI:063) (CS)

Performance Element: Analyze financial needs and goals to determine financial requirements.

Performance Indicators:
Explain the nature of financial needs (e.g., college, retirement, wills, insurance, etc.) (FI:064) (CS)
Set financial goals (FI:065) (CS)
Develop personal budget (FI:066) (CS)

Performance Element: Manage personal finances to achieve financial goals.

Performance Indicators:
Explain the nature of tax liabilities (FI:067) (PQ)
Interpret a pay stub (FI:068) (PQ)
Prepare bank account documents (e.g., checks, deposit/withdrawal slips, endorsements, etc.) (FI:560) (PQ)
Maintain financial records (FI:069) (PQ)
Read and reconcile bank statements (FI:070) (PQ)
Demonstrate the wise use of credit (FI:071) (CS)
Validate credit history (FI:072) (CS)
Protect against identity theft (FI:073) (CS)
Prepare personal income tax forms (i.e., 1040 EZ form) (FI:074) (CS)

Performance Element: Understand the use of financial-services providers to aid in financial goal achievement.

Performance Indicators:
Describe types of financial-services providers (FI:075) (CS)

Performance Element: Use investment strategies to ensure financial well-being.

Performance Indicators:
Explain types of investments (FI:077, LAP-FI-077) (CS)

Performance Element: Use risk management products to protect a business’s financial well being.

Performance Indicators:
Describe the concept of insurance (FI:081) (CS)

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

Performance Indicators:
Describe the need for financial information (FI:579, LAP-FI-009) (CS)
Explain the concept of accounting (FI:085, LAP-FI-005) (CS)

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

Performance Indicators:
Explain the role of finance in business (FI:354, LAP-FI-007) (CS)

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