Praxis Business Education study plan
Praxis Business Education · Give each week a clear focus.
8 weeks · About 7 hours per week
Business Management and Finance
Define and distinguish the five functions of management (planning, organizing, staffing, directing/leading, controlling) with a workplace example for each
Diagram the four forms of business ownership (sole proprietorship, partnership, corporation, LLC) and label liability, taxation, and continuity differences
Explain the four functions of money and the structure of the Federal Reserve System, including the roles of the Board of Governors and FOMC
Compute basic financial ratios (current ratio, debt-to-equity, gross profit margin, net profit margin) from a sample balance sheet and income statement
Your checkpoint
A one-page management-and-ownership comparison chart plus a worked ratio set (four ratios, with formula, computation, and one-sentence interpretation each)
Business Management and Finance
Compare debt vs. equity financing and identify when each is appropriate for a small business
Sequence the steps of the financial planning process and match each step to a budgeting tool (operating, capital, cash budget)
Analyze how monetary and fiscal policy tools affect business investment and consumer demand
Evaluate a short business scenario and recommend a management or finance action with justification
Your checkpoint
A 300-word written response to a business-finance scenario that names the policy tool or financing choice, shows the reasoning, and states one risk
Accounting and Business Law
Apply the accounting equation and record 15 transactions in T-accounts, keeping debits and credits in balance
Journalize and post entries for the accounting cycle through the adjusted trial balance
Prepare an income statement, statement of owner's equity, and classified balance sheet from a trial balance
Classify accounts (asset, liability, equity, revenue, expense) and identify normal balances without reference notes
Your checkpoint
A completed accounting cycle packet for one sample business: journal entries, trial balance, adjusting entries, and three financial statements that articulate correctly
Accounting and Business Law
Compute depreciation using straight-line and double-declining-balance methods and record the adjusting entries
Explain the purpose and structure of internal controls and identify control weaknesses in a described workplace
Distinguish the elements of a valid contract (offer, acceptance, consideration, capacity, legality) in five short fact patterns
Differentiate torts from crimes and identify the remedies available in a breach-of-contract dispute
Your checkpoint
A timed 25-question self-made quiz (10 accounting, 15 business law) scored and error-logged by subtopic
Marketing and Entrepreneurship
Outline the marketing mix (product, price, place, promotion) and apply each element to a real product category
Compare market segmentation bases (demographic, geographic, psychographic, behavioral) and select a target segment with justification
Compute markup, markdown, and break-even point for a product pricing scenario
Sequence the steps of the entrepreneurial process from idea generation through business plan and financing
Your checkpoint
A two-page mini business plan for a hypothetical venture covering target market, marketing mix, pricing calculation, and break-even analysis
Marketing and Entrepreneurship & Information Technology and Business Communication
Interpret the components of a marketing plan and distinguish marketing research methods (primary vs. secondary, qualitative vs. quantitative)
Evaluate the advantages and disadvantages of distribution channels and promotional strategies
Identify hardware, software, and network components and explain how an information system supports business operations
Explain data security, privacy, and ethical-use responsibilities in a business information system
Your checkpoint
A marketing-and-IT application brief (about 400 words) that recommends a distribution and promotion strategy for a small retailer and specifies the information system and security controls needed to support it
Information Technology and Business Communication
Draft professional business messages (routine request, bad-news, persuasive) using appropriate structure and tone
Correct grammar, punctuation, and usage errors in a set of 20 sentences
Compare communication channels and select the appropriate channel for a given audience and purpose
Describe how spreadsheets and databases are used for business decision-making and reporting
Your checkpoint
A portfolio of three revised business messages (one per type) plus a corrected error set, each annotated with the rule or principle applied
Business Management and Finance & Accounting and Business Law & Marketing and Entrepreneurship & Information Technology and Business Communication
Synthesize all four domains by mapping each to its exam weight and listing the two weakest subtopics per domain
Complete a full-length timed practice set and record accuracy by domain
Review and remediate every missed item by rewriting the underlying rule or concept in your own words
Build a one-page formula and terminology sheet covering accounting, finance, and marketing calculations
Your checkpoint
A scored full-length practice result with a domain-by-domain accuracy table and a remediation log showing the corrected concept for every missed question
Milestones
Week 2: Score at least 80% on a self-made 20-question Domain 1 set covering management functions, ownership forms, and financial ratios, with every miss rewritten as a corrected rule
Week 4: Complete the accounting cycle packet with balanced debits and credits and articulating statements, and score at least 75% on the timed Domain 2 quiz
Week 6: Produce a mini business plan with a correct break-even calculation and a marketing-IT brief that names at least three specific system components and controls
Week 8: Achieve at least 80% overall on the full-length timed practice set with no domain below 70%, and submit the completed formula sheet and remediation log