PREMIUM LOGIN

ClassTools Premium membership gives access to all templates, no advertisements, personal branding and other benefits!

Username:    
Password:    
Submit Cancel

 
Not a member? JOIN NOW!  

QR Challenge: Financial Statements

Created using the ClassTools QR Treasure Hunt Generator

Print

Create a New QuizEdit this quiz View a Sample Quiz
Detailed Case Study Search the Archive Feedback

Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.

B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!

C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.

Questions / Answers (teacher reference)

Question

Answer

1. A summary of the income earned and the expenses incurred over a period of trading. It helps users of information see exactly how much money has come into the business as revenue, how much has gone out as expenditure and how much has been derived as gross profit and net profit.Income Statement
2. Shows the relationship between assets, liabilities and owners’ equity. Represents a business’s current and non-current assets and current and non-current liabilities at a particular point in time, and represents the net worth of the business. Assets = Liabilities + Owners’ Equity.Balance Sheet
3. Records the movement of cash receipts and cash payments that result from transactions over a given time, for example a month. Provides the link between the income statement and the balance sheet. It provides information about a firm’s ability to pay its debts on time.Cash Flow Statement
4. The value of the stock that a business has sold. = Opening stock + Purchases – Closing stockCost of Goods Sold (COGS)
5. = Sales Revenue - COGSGross Profit
6. = Gross Profit – ExpensesNet Profit
7. Items of value that is owned by the business which could be turned into cash within 12 months. Eg. Cash, inventory, accounts receivables.Current Assets
8. Items of value that is owned by the business which are not to be expected to be turned into cash within 12 months. Eg. Property, equipment, land, machinery, intangibles.Non-current assets
9. The funds contributed by the owners and represents the net worth of the business. Eg. Retained profits/earnings, capital.Owners' Equity
10. Represents items of debt that are owed by the business and must be repaid within 12 months. Eg. Accounts payable, overdraft, credit cards.Current liabilities
11. Represents items of debt that are owed by the business after the next 12 months. Eg. Borrowings, mortgage.Non-current liabilities

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=A-summary-of-the-income-earned-and-the-expenses-incurred-over-a-period-of-trading.-It-helps-users-of-information-see-exactly-how-much-money-has-come-into-the-business-as-revenue,-how-much-has-gone-out-as-expenditure-and-how-much-has-been-derived-as-gross-profit-and-net-profit.

Question 1 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=Shows-the-relationship-between-assets,-liabilities-and-owners’-equity.-Represents-a-business’s-current-and-non-current-assets-and-current-and-non-current-liabilities-at-a-particular-point-in-time,-and-represents-the-net-worth-of-the-business.-Assets-=-Liabilities-+-Owners’-Equity.

Question 2 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=Records-the-movement-of-cash-receipts-and-cash-payments-that-result-from-transactions-over-a-given-time,-for-example-a-month.-Provides-the-link-between-the-income-statement-and-the-balance-sheet.-It-provides-information-about-a-firm’s-ability-to-pay-its-debts-on-time.

Question 3 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=The-value-of-the-stock-that-a-business-has-sold.-=-Opening-stock-+-Purchases-–-Closing-stock

Question 4 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text==-Sales-Revenue---COGS

Question 5 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text==-Gross-Profit-–-Expenses

Question 6 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=Items-of-value-that-is-owned-by-the-business-which-could-be-turned-into-cash-within-12-months.-Eg.-Cash,-inventory,-accounts-receivables.

Question 7 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=Items-of-value-that-is-owned-by-the-business-which-are-not-to-be-expected-to-be-turned-into-cash-within-12-months.-Eg.-Property,-equipment,-land,-machinery,-intangibles.

Question 8 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=The-funds-contributed-by-the-owners-and-represents-the-net-worth-of-the-business.-Eg.-Retained-profits/earnings,-capital.

Question 9 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=Represents-items-of-debt-that-are-owed-by-the-business-and-must-be-repaid-within-12-months.-Eg.-Accounts-payable,-overdraft,-credit-cards.

Question 10 (of 11)

 


Financial Statements: QR Challenge

https://www.classtools.net/QR/decode.php?text=Represents-items-of-debt-that-are-owed-by-the-business-after-the-next-12-months.-Eg.-Borrowings,-mortgage.

Question 11 (of 11)