UNIT PLAN – Principles of Accounts

NAME OF TEACHER: Samdaye Gopaulchan

CLASS: Form 5 TERM 1
UNIT: CSEC Principles of Accounts Syllabus -Section 10-Manufacturing and Inventory Control
UNIT TOPIC: Stock Valuation Methods
RATIONALE:This unit provides an introduction to the methods of stock valuation in a business. It will be important for students to identify the various stock methods for varying products
(perishables , non-perishables) in a business and how this can affect profitabilty. It will allow them develop and apply practical skills in inventory methods to real world situations.
GENERAL OBJECTIVES :This unit should help students to:
 Develop skills in applying accounting principles and procedures to valuing stock.
 Develop skills in applying methods of stock valuation to the statement of comprehensive income.
 Show an appreciation of the advantages and disadvantages of methods of stock valuation in different businesses.
 Gain a solid foundation for further studies in accounting.
 Enhance their problem solving and analytical skills.
Concept Map attached

CONTENT Key Cognitive Learning outcomes: Affective Learning RESOURCES TEACHING/ ASSESSMENT
concepts in Students will be able to Outcome: LEARNING STRATEGIES
the lesson Students will be able ACTIVITIES
to
Lesson 1  FIFO 1.Explain the purpose of Value the importance  Laptop  Collaborative  Oral questionning
of keeping track of
Introduction to Methods of  LIFO inventory valuation  Speakers learning-group work  Online Quiz
Stock Valuation favorite snacks at
 AVCO 2.Identify the types of inventory
home  Worksheet  Class discussions  Question from textbook
methods  Youtube videos for  Brainstorming
3.State uses of stock cards stockmethods  Effective
 Textbook Questionning
 Direct Instruction
Lesson 2  FIFO 1.Describe the FIFO method of Justify the  Power-point  Collaborative  Oral questionning
Methods of Stock stock valuation importance of using a presentation/ learning  Online Quiz
Valuation  Demonstrate/
2.Discuss the advantages and particular  Video-Investopedia
disadvantages perishable/non /Youtube Modelling and
Questionning
3.Explain the use of stock cards perishable item 1st  Laptop
 Group class
in a business from their kitchen  Speakers discussions
4.Prepare a stock card using the (Valuing)  Talking Circles
FIFO method  Peer Partner
Learning
 Task Analysis
CONTENT Key Cognitive Learning outcomes: Affective Learning RESOURCES TEACHING/ ASSESSMENT
concepts in Students will be able to Outcome: LEARNING STRATEGIES
the lesson Students will be able ACTIVITIES
to
Lesson 3  FIFO 1.Calculate the value of closing  Share their  Past papers  Practical  Worksheet
stock using the FIFO method in experiences on cost
Practial application  Text book questions application using  Oral questionning
Methods of Stock the statement of comprehensive savings by
income  Stock card stock cards  Question from text/ past
Valuation purchasing a
perishable or non  Youtube videos  Income statement paper
perishable item(s)  Stock card formats  Direct
in bulk  Statement of Instruction
comprehensive  Problem Based
income format Learning
 Breakout rooms
 Powerpoint
presentations
Lesson 4  LIFO 1.Describe the LIFO method of  Justify the  Power-point  Collaborative  Worksheet
importance of learning
Methods of Stock stock valuation presentation/youtube  Oral questionning
using a particular  Demonstrate/Mo
Valuation 2.Discuss the advantages and
perishable/non
video delling and  Online Quiz
Questionning
disadvantages perishable item  Laptop  Group /class  Question from text/ past
3.Prepare a stock card using the last from their  Speakers discussions paper
LIFO method kitchen .(Valuing)  Talking Circles
 Worksheet
 Peer Partner
 Learning
CONTENT Key Cognitive Learning outcomes: Affective Learning RESOURCES TEACHING/ ASSESSMENT
concepts in Students will be able to Outcome: LEARNING STRATEGIES
the lesson Students will be able ACTIVITIES
to
Lesson 5  LIFO 1.Calculate the value of closing Share their  Past papers  Practical  Worksheet
stock using the LIFO method in experiences on cost
Practial application  Text book questions application using  Oral questionning
Methods of Stock the statement of comprehensive savings by purchasing
income a perishable or non  Stock card stock cards  Online Quiz
Valuation
perishable item(s) in  Youtube videos  Income statement  Question from text/ past
bulk  Direct Instruction paper
 Problem Based
Learning
 Scaffolding
 Task Analysis
Lesson 6 AVCO 1.Describe the AVCO method of Describe your  Power-point  Collaborative  Worksheet
Methods of Stock stock valuation experiences from presentation/YOTUB learning  Oral questionning
Valuation your average
2.Discuss the advantages and E VIDEO  Demonstrate/Mod  Online Quiz
scores from term 2
disadvantages
end of term  Laptop elling and  Question from text/ past
3.Prepare a stock card using the examinations on  Speakers Questionning paper
AVCO method subjects.  Worksheet  Direct instruction
CONTENT Key Cognitive Learning outcomes: Affective Learning RESOURCES TEACHING/ ASSESSMENT
concepts in Students will be able to Outcome: LEARNING STRATEGIES
the lesson Students will be able ACTIVITIES
to
Lesson 7 AVCO 1.Calculate the value of closing express their feelings  Past papers  Practical  Worksheet
Practial application stock using the AVCO method on achieving above  Text book questions application using  Oral questionning
standard averages on
Methods of Stock in the statement of  Stock card stock cards  Online Quiz
subject areas .
Valuation comprehensive income  Youtube videos  Collaborative  Question from text/ past
 Independent study paper
 Scaffolding
Lesson 8 Gross profit Demonstrate an understanding of Value the importance  Worksheet  Demonstrate/Mode  Oral questionning
Practical application of and net the use of the appropriate stock of managing finances  Textbook and past lling and  Project based assignment
values of closing stock profit valuation methods used in in conserving energy
paper question Questionning
from FIFO, LIFO and different types of business and (utility expenses) in
also in relation to their home their homes  Youtube video  Collaborative
AVCO on gross and net
profit in a business environment learning
(statement of  Scaffolding
comprehensive income )
Table of Specifications:
Lesson Lesson Objectives Remember Understand Application Analysis Evaluate Create Total Total %
Number
1 Explain the purpose of inventory valuation x
Identify the types of inventory methods x
State uses of stock cards x 3 17.64%
2 Describe the FIFO method of stock valuation x

Discuss the advantages and disadvantages x

Explain the use of stock cards in a business x
Prepare a stock card using the FIFO method x 4 23.53 %
3 Calculate the value of closing stock using the FIFO method in the statement x 1 5.89 %
of comprehensive income
4 Describe the LIFO method of stock valuation x

Discuss the advantages and disadvantages x

Prepare a stock card using the LIFO method x 3 17.64 %

5 Calculate the value of closing stock using the LIFO method in the x 1 5.89 %
statement of comprehensive income
6 Describe the AVCO method of stock valuation x

Discuss the advantages and disadvantages x

Prepare a stock card using the AVCO method x 3 17.64 %

7 Calculate the value of closing stock using the AVCO method in the x 1 5.89 %
statement of comprehensive income
8 Demonstrate an understanding of the use of the appropriate stock valuation x 1 5.89 %
methods used in different types of business and also in relation to their
home environment
TOTAL 5 4 7 0 1 0 17
TOTAL % 29.41 % 23.53 % 41.18 % 0% 5.89 % 0% 0% 100 %
Teacher reflections on UNIT:
Upon reflection the Unit Plan was created to assist students in the theoretical aspects of stock valuation as well as the practical aspects which would assist in developing their 21st century

skills : problem solving and analytical. The use of both perishables and non perishables products would bring the topic to reality for students. This real life incorporation into the classroom

will make the student remember the topic. The use the affective domain to share their feelings was an excellent choice.