Introduction to Record Keeping & SAE

2. required for all SAE types and must be signed by four individuals
5. a statement illustrating how much a business made or lost
7. short term incomes and when a customer pays at a later date
10. information used to monitor the progress of a business and to determine if a business is improving or needs to make changes
13. SAE type that operates within the parameters of school allowing multiple students to work together to provide goods and/or services to the community
15. type of records that includes inventory, balance sheet, incomes, expenses, cash flow, etc.
18. long term and current debts owed
19. all costs associated with a business
21. project allowing students to receive real-world experiences, learn fundamentals and importance of record keeping and continue to learn outside of the classroom

1. the summary of a business's assets and liabilities. sometimes referred to as a net worth statement
3. used to record all aspects of the SAE project and can vary depending on the type of SAE and required information
4. statement that helps determine when more money is needed to operate or when money will be in excess
6. schedule indicating the value of an item lost over time
8. SAE type where a student takes full responsibility for all aspects of their project and could include raising an animal or creating a business
9. type of records that relate to quantities of inputs and levels of production
11. type of SAE allowing students to have a wide range of experiences to learn about career opportunities but may not count toward degrees or awards
12. SAE type where students can gain work experience by working for a business or person and possibly earn wages
14. short term expenses and bills which are paid later
16. includes current and fixed paid for items that have value and can be converted into cash
17. defined as goods available for sale
20. complete summary of all findings including financial and journal summaries