TRIAL BALANCE AND FINANCIAL STATEMENT PREPARATION ACCOUNTING LESSON PLAN

Teaching Materials

• Lesson - Trial Balance and Financial Statement Preparation
  (see below for printable lesson)

• Projector

• Prepared Ledger Exercises

Lesson Activity

1. Review the purposes of the general journal and general ledger

2. Introduce the trial balance

• Discuss importance of preparing before the financial statements
• Discuss which accounts are expected to have a debit or credit balance

3. Using prepared examples, work through calculating balances for accounts

• Include accounts that have a negative balance

4. Transcribe those account balances to a trial balance

• Discuss proper format
• Discuss the limitations of the trial balance
• Discuss how to record negative account balances

5. Introduce the Income Statement

• Talk about period of time
• Discuss correct form

6. Discuss the concept of Net Income and how it relates to the equity section of the balance sheet.

7. Introduce the Balance Sheet

• Discuss formatting options

 

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:

TRIAL BALANCE AND FINANCIAL STATEMENT PREPARATION LESSON
	Trial Balance and Financial Statement Preparation * This is a lesson on how to prepare the Trial Balance Worksheet and other Financial Statements.
ACCOUNTING WORKSHEET - STUDENT EXERCISE
	Trial Balance and Financial Statement Preparation Worksheet * Student worksheet based on the above lesson.
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