Week 3 lesson 2 prepared by A.

Persaud - Business Studies GRADE 9

Specific Previous Students’

Topic Content Teachers’ Activities Resources Evaluation
Objective Knowledge Activities

Accounti After Four important Students Begin the lesson by Brainstorm Ppt link –
ng discussion, accounting concept underpin the are having students think ways money https://docs.google.
Concepts students will preparation of any set of accounts: familiar about the different ways is used in com/presentation/d
complete a Going Concern with the they use money in their daily life /17dzxt8wdMk1X2
short quiz Accountants assume, unless there is term everyday lives. QwTwt84kcS6I6xz
getting at evidence to the contrary, that a accounts 4aOF/edit?
least 3/5 company is not going broke. This has Talk about their ideas as a usp=drive_link&ou
questions important implications for the group and explain why Say why it’s id=1033155951137
correct. valuation of assets and liabilities. it's important to know important to 44806561&rtpof=tr
how to handle money handle ue&sd=true
Consistency wisely. money
Transactions and valuation methods
are treated the same way from year to Review what accounting Principles for
year, or period to period. Users of is and why it's useful for accounts for csec
accounts can, therefore, make more making smart money Say what by Eugene
meaningful comparisons of financial choices, both for people accounting is Thompson page 17
performance from year to year. and for businesses.
Where accounting policies are
changed companies are required to Tells students we will be
disclose this fact and explain the looking at accounting Listen to
impact of any change. concepts teacher

Prudence Explain what is

Profits are not recognized until a sale accounting concepts
has been completed. In addition, a Divide students into small
Week 3 lesson 2 prepared by A. Persaud - Business Studies GRADE 9
cautious view is taken for future
problems and costs of the business
(the are “provided for” in the
accounts as soon as there is a
reasonable chance that such costs will
be incurred in the future.
Matching or accruals
Income should be properly
“matched” with the expenses of a
given accounting period.
groups and provide each
group with a set of
transaction scenarios. Create small
groups and
Instruct students to work on
analyze the scenarios and activity
identify the potential
financial impacts of each
transaction.
Encourage students to
discuss their findings
within their groups and
prepare to share their
responses with the class.
Discuss
findings
Facilitate a whole-class
discussion where students Engage in
share their findings from discussion
the group activity.
Introduce the four
important accounting
concepts: going concern,
consistency, prudence,
and matching or accruals.
Provide simple student-
Week 3 lesson 2 prepared by A. Persaud - Business Studies GRADE 9

oriented definitions and Listen t

examples for each teacher
concept to ensure And interact
understanding. with
discussion
Emphasize the relevance
of these concepts in
ensuring accurate and
reliable financial
reporting.

Instructs pupils we will

do a short quiz on what Complete
was discussed quiz

Instruct students to work

individually or in pairs to
solve the practice
questions.

Circulate around the

classroom to provide
support and guidance as
needed.

Conclusion

Summarize the main

points covered in the
Week 3 lesson 2 prepared by A. Persaud - Business Studies GRADE 9

Engage in
review

lesson, emphasizing the

importance of the four
accounting concepts.

Encourage students to
continue exploring how
these concepts impact
their lives and future
careers.

Scenarios:
Week 3 lesson 2 prepared by A. Persaud - Business Studies GRADE 9

1. Lunch Money: Tommy's mom gives him $5 for lunch every day. He decides to save $2 and spend $3 on lunch.

2. Toy Store Visit: Emily has $10, and she wants to buy a new toy for $7. Should she spend all her money on the toy or save some?

3. Sharing Treats: Amy and her friend Lily decide to share a box of cookies. The cookies cost $4, and they both contribute $2. How much money did they save by sharing?

4. Pet Care: Lucas spends $6 to buy food for his pet fish. He also spends $2 on a new decoration for the fish tank. How much money does he have left?

5. Saving Allowance: Sophie gets $2 every week as her allowance. She saves her allowance for four weeks. How much money will she have saved at the end of the month?

6. Buying School Supplies: Jake needs to buy pencils and erasers for school. Pencils cost $1 each, and erasers cost $0.50 each. If he buys two pencils and three erasers, how much will he spend in
total?

7. Birthday Gifts: Lily is going to a birthday party and wants to buy a gift. She has $8 to spend. She finds a toy that costs $6. How much money will she have left after buying the gift?

8. Earning Money: Max offers to help his neighbor with gardening and gets $4 in return. He also receives $3 for cleaning his room. How much money did Max earn altogether?

9. Sharing Chores: Sarah and her brother decide to split their weekly chore money equally. They each get $5. How much money did they earn in total?

10. Lost Money: Emma found $1 on the playground. She doesn't know who it belongs to. Should she keep it, return it, or give it to the teacher?