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Lesson Plan on Break-Even Analysis and Budgeting

 

Ratings

Overall Rating:

 4.9 stars
Content Quality: 5 stars
Effectiveness: 4.7 stars
Ease of Use: 4.9 stars
Reviewed: Nov 16, 2005 by Business Editorial Board
Overview: This module consists of a lesson plan, presentaton and drill and practice exercises on break-even analysis and budgeting. It is intended for a British audience. The pound sterling is the currency denomination used. Accompanying teaching materials can be used in the classroom or assigned as homework.
Learning Goals: As a result of completing these lessons, students should be able to demonstrate and understanding of the following:
  • The meaning of the term break-even
  • The use of break-even charts in business planning
  • The purpose and nature of budgets
  • The impact of the price elasticity of demand on business planning
  • The use of Excel spreadsheets in manipulating financial information
  • The production of appropriate charts using Excel
    		•
    Target Student Population: The resource is designed for college level Accounting and Economics students and can be used at the undergraduate level and beyond. The module might also be useful in business math classes or with very advanced secondary students.
    Prerequisite Knowledge or Skills:
  • PowerPoint and Excel
  • The ability to view computer media
  • An understanding of the price elasticity of demand, which can be gained at several of the sites in the Merlot business community.
    		•
    Type of Material: Lesson plan, presentation, and drill and practice.
    Recommended Uses: Break Even Analysis and Budgeting can be used in class or as an out of class assignment. The module will help students learn how to produce some simple break even charts. To do so they will have to calculate the link between total revenue and sales, assuming the price of £2 per unit. Additionally, the second lesson asks students to offer advice to the company and to incorporate the likely impact of price elasticity of demand in the analysis.
    Technical Requirements: Requires a computer equipped with PowerPoint and Excel along with an Internet connection and browser in order to complete the exercises.

    Evaluation and Observation

    Content Quality

    Rating: 5 stars
    Strengths:
  • Lesson plans are well developed and explained.
  • Concise yet thorough learning objectives are provided.
  • The PowerPoint presentation is clear and thorough.
  • Informative demonstration and explanations are included.
  • Content is consistent in presentation to the current Economic and Accounting text.
  • An engaging format for the targeted users is used to present information.
  • Excellent Excel exercises reinforce concepts such as break-even and price elasticity of demand.
  • The currency base used facilitates the globalization of curriculums for any country that does not use the £.
  • Questions posed to students are well developed and foster critical thinking.
  • The mind map is also very well done and may be a good way to introduce students to this powerful tool
    		•
    Concerns: The site does require an understanding of the price elasticity of demand to be effective. Users also do need to be aware of the currency base used for valuation.

    Potential Effectiveness as a Teaching Tool
    Rating: 4.7 stars
    Strengths: The potential effectiveness of this module is very, very good. Concepts are introduced and progress logically, consistently building the topic to its conclusion. The module is completely accurate with appropriate vocabulary always used. The questions posed at the end of the Excel exercises
    allow for demonstrating the depth of understanding achieved. In addition, the Excel exercises can be easily modified repeatedly to reinforce understanding.
    Concerns: Prerequisite skills are not identified and knowledge of price elasticity of
    demand is assumed. Usage does require instructor explanations and discussion. As such the module would very likely not be suitable for a stand alone lesson.

    Ease of Use for Both Students and Faculty
    Rating: 4.9 stars
    Strengths: The quality of this module is consistent with the expectations associated with the Biz Ed sites. The module is easy to use and visually appealing. It is presented in an engaging and entertaining format for the users targeted. The site exhibits a high quality in terms of content and production. Content is presented in reasonable time spans (2 one-hour lessons).
    Concerns: A one hour lesson plan may not fit into the traditional 50 minute contact hour for college level classes in the United States and perhaps other countries.
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