1. (a) General requirements. This course is recommended for students in Grades 7-8.
2. (b) Introduction. Students implement personal and interpersonal skills to strengthen individual performance in the workplace and in society and to make a successful transition to the workforce and/or postsecondary education. Students analyze the social responsibility of business and industry regarding the significant issues relating to the environment, ethics, health, safety, and diversity in society and in the workplace. Students develop a foundation in the economical, financial, technological, international, social, and ethical aspects of business to become competent consumers, employees, and entrepreneurs. Students enhance reading, writing, computing, communications, and reasoning skills and apply them to the business environment.

3. (c) Knowledge and skills.

   1. (1) The student identifies the rights and responsibilities of consumer credit. The student is expected to:

      1. (A) develop a record keeping vocabulary;
      2. (B) project the effect of poor credit on a consumer's credit worthiness by examining credit reports;
      3. (C) list and explain the qualifications and procedures needed to obtain credit;
      4. (D) research and present cases of consumer protection laws, for example, Texas Lemon Law and Deceptive Trade Practices Act;
      5. (E) distinguish between regular and revolving credit accounts;
      6. (F) identify problems involving personal use of credit cards;
      7. (G) apply an annual percentage rate (APR) table and compute the APR on revolving charge accounts;
      8. (H) compare costs of various forms of credit;
      9. (I) determine the bank that offers the best credit card contract;
      10. (J) interpret payment plans; and
      11. (K) evaluate the effect of credit scoring on determining the availability of credit.

   2. (2) The student demonstrates an understanding of personal financial management. The student is expected to:

      1. (A) explain the importance of providing accurate information and calculations;
      2. (B) calculate gross and net pay;
      3. (C) plan and maintain a budget;
      4. (D) simulate opening and maintaining various types of bank accounts;
      5. (E) reconcile bank statements;
      6. (F) compare the advantages and disadvantages of different types of banking services;
      7. (G) analyze investment growth and develop a personal investment plan;
      8. (H) prepare an individual income tax return; and
      9. (I) complete a merchandise order for personal use.

   3. (3) The student follows established mathematical processes to solve business problems. The student is expected to:

      1. (A) apply the order of operations principle when solving business problems;
      2. (B) calculate answers to problems using addition, subtraction, division, multiplication, percentages, and decimals;
      3. (C) demonstrate ability to use numeric key pad by touch;
      4. (D) calculate conversions from the United States to the metric system of measurement;
      5. (E) calculate currency conversion;
      6. (F) calculate pay using time cards;
      7. (G) prepare local, state, and federal tax reports;
      8. (H) compare physical and perpetual inventories;
      9. (I) prepare a customer's statement of account;
      10. (J) verify invoices and statements;
      11. (K) compute and verify extensions on purchase orders;
      12. (L) calculate trade, chain, and quantity discounts;
      13. (M) compute cash discounts and the amount due on purchase orders after adjustments for transportation charges, discounts, and returned merchandise;
      14. (N) calculate payment dates;
      15. (O) compute the percentage of bad debts to sales;
      16. (P) compute the amount of credit card discounts;
      17. (Q) maintain accounts receivable; and
      18. (R) maintain accounts payable.

   4. (4) The student researches the components of productivity. The student is expected to:

      1. (A) develop time management skills;
      2. (B) enhance time management skills by use of technology;
      3. (C) evaluate the effects of errors versus accuracy on productivity; and
      4. (D) evaluate the effects of employee absenteeism on business productivity.

   5. (5) The student explains the concepts of integrity and confidentiality as related to the business environment. The student is expected to:

      1. (A) define business ethics;
      2. (B) define honest and dishonest business practices;
      3. (C) analyze the effects of unethical practices on business;
      4. (D) analyze the effects of unethical practices on consumers; and
      5. (E) identify ethical considerations resulting from technological advances.

Source Note:The provisions of this §120.5 adopted to be effective September 1, 1998, 22 TexReg 4985.