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

# 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

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

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

7. Discuss what a mixed account is

• Work though more examples

# Assessment/Evaluation

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

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

 ACCRUAL ACCOUNTING AND ADJUSTING ENTRIES LESSON This is a lesson on Accrual Accounting And Adjusting Entries. ACCOUNTING WORKSHEET - STUDENT EXERCISE Student worksheet based on the above lesson. Do you have a recommendation for an enhancement to this accounting lesson, or do you have an idea for a new lesson?  Then leave us a suggestion. Back to more Accounting and Bookkeeping Lessons   More Career, Job, and Business Skills Lessons           To teach and learn money skills, personal finance, money management, business, careers, and life skills please go to the Money Instructor home page.

 Accounting Adjusting Entry Lesson Plan - Simple Basic rules professional template guide lesson - High School Student - Secondary education - Adults - Teens - Teenagers - Instruct Theme Unit - Secondary Education - Middle School - Young Adults - Classroom Review - Career Accounting Education