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ACCOUNTING INTRODUCTION LESSON PLAN ONLINE BASICS HIGH SCHOOL BUSINESS TEACHING LEARNING FORMAT SAMPLE EXAMPLE HELP FORMAL WORK CAREERS SAMPLE STUDENTS FREE PRACTICE TEACHER BUSINESS LIFE SKILLS

 

 

 

Students learn an introduction to accounting.

 
 

LESSON PLAN: WHAT IS ACCOUNTING?

 

Topic: Introduction to Accounting

 

Concept: Understand the purpose of accounting records both within organizations and for use by outside parties.

 

Objectives:

  • Students will understand the importance of the accounting language.

  • Students will understand the three main types of accounting information.

  • Students will be introduced to the “principles” of accounting and GAAP.

  • Students will be introduced to the three types of accounting reports required by GAAP.

Suggested Grades:

Seventh Grade - Eighth Grade - Ninth Grade - Tenth Grade - Eleventh Grade - Twelfth Grade - Adult Education

 

  
 
 

ACCOUNTING INTRODUCTION LESSON PLAN

 

Teaching Materials

 

Additional Materials:

  • Sample Balance Sheet

  • Sample income Statement

  • Sample Cash Flow Statement

Lesson Activity:

1. Begin by talking about the idea of accounting as a language.

  • Solidify this concept using an example of computer programming as another “language” used in a professional setting that facilitates communication and understanding.

  • Ask students for their own examples of other professional “languages.”

2. Discuss the different types of accounting information and use detailed examples.

  • Operating information: discuss the need to track how much cash you have in your bank. When you pay bills or when you receive cash for sales you need to account for the changes in your financial records.

  • Financial information: discuss the need to communicate your financial position to the bank. If you apply for a loan the bank needs to know if you have the ability to repay it.

  • Managerial information: discuss the need for managers to use financial information when making business decisions. Talk about the need to prepare a budget.

3. Briefly introduce GAAP

 

4. Discuss the different accounting reports using examples of each. Talk about the difference between status and flow reports and point out the terminology used in the report heading “as at Dec 31” on a Balance Sheet versus “for the period ending Dec 31” on the Income and Cash Flow Statements.

 

Assessment/Evaluation:
Have students complete worksheet. A passing grade is 70% or greater.

 

 

 

 

Lesson Printable Materials - Worksheets

Print out the teaching lesson pages and exercise worksheets for use with this lesson:

 

ACCOUNTING INTRODUCTION LESSON

Accounting Introduction Lesson

This is an introduction to accounting lesson.

 

 

 

ACCOUNTING WORKSHEET - STUDENT EXERCISE

Accounting Introduction Worksheet *

Student worksheet based on the above lesson.

 

 

 
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