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ACCRUAL ACCOUNTING ADJUSTING ENTRIES LESSON PLAN RELATIONSHIP ONLINE FINANCIAL BASICS CORE HIGH SCHOOL BUSINESS TEACHING LEARNING FORMAT SAMPLE EXAMPLE HELP FORMAL WORK CAREERS SAMPLE STUDENTS FREE PRACTICE TEACHER BUSINESS BOOKKEEPING LIFE SKILLS

 

 

 

Students learn about accrual accounting and adjusting entries.

 

 

ACCRUAL ACCOUNTING AND ADJUSTING ENTRIES

Topic: Accrual Accounting and Adjusting Entries.

Concept: Understanding how accrual accounting works as well as understanding the basics of adjusting entries.

Objectives

  • Understand the operating cycle
  • Understand when to record revenue
  • Students will understand what a balance sheet is and will identify which accounts can be found on a balance sheet
  • Understand when to record expenses
  • Review the Revenue Recognition and Matching principles
  • Understand Mixed accounts and how to make adjustments to them

Suggested Grades:

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

 
 

 

ACCRUAL ACCOUNTING AND ADJUSTING ENTRIES LESSON PLAN

 

Teaching Materials

Lesson Activity

1. Discuss the operating cycle

  • Explain how account balances are not accurate from day to day

2. Introduce the concept of accrual accounting

  • Use examples of transactions that cause overlap

3. Review the Revenue Recognition principle

  • Use examples to explain the concept
  • Discuss unearned revenue

4. Discuss purchases

  • Ask for examples of asset purchases and expense purchases
  • Discuss the rules for determining if a purchase is an asset or an expense

5. Discuss Accrual Accounting and Matching

  • Present the two categories of expenses

6. Discuss Adjusting Entries

  • Present the two types of adjusting entries
  • Work through examples

7. Discuss what a mixed account is

  • Work though more examples

8. Talk about the additions to the accounting process

 

Assessment/Evaluation

Have students complete worksheet. A suggested passing grade is 70% or greater.

 

 

 

Lesson Printable Materials - Worksheets

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

 

ACCRUAL ACCOUNTING AND ADJUSTING ENTRIES LESSON

Accrual Accounting and Adjusting Entries *

This is a lesson on Accrual Accounting And Adjusting Entries.

 

 

 

ACCOUNTING WORKSHEET - STUDENT EXERCISE

Accrual Accounting and Adjusting Entries *

Student worksheet based on the above lesson.

 

 

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