LESSON PLAN TEMPLATE

Subject: ACCOUNTING Grade: 10-12 Duration: 1 hours and half

Lesson: INTRODUCTION TO ACCONTING Learning Objective: 1. Describe the accounting equation
2. Explain the relationship among assets, liabilities and owner’s equity
3. The effect on the accounting equation and the difference between the debit and credit

Section Activity Time (mins) Resources (links, stationery, etc.)

Warm-Up 5 mins Fundamentals of accounting

Introduction • What is an Asset • What is a liability • What is an expense • What is 20 mins Fundamentals of accounting
an income • What is owners equity
The effect of each item on credit and debit
Guided Practice  Define 3 specific terms: assets, liabilities and owner’s equity 20 mins PowerPoint

 What will be the effect of the following on the accounting

equation- (i) Purchased goods for 20,000 form Mahesh on
credit (ii) Sold goods to Suresh costing 8,000 for 10,000 in
cash (iii) Paid wages 500 (iv) Withdrew in cash for private
use 2,000 (v) Paid to creditors 2,000

Independent On which side will the increase in the following account be 15 mins PowerPoint
Practice recorded? Also, mention the nature of the account.
1. Cash
2. Proprietor’s Account
3. Machinery
4. Rent Received
5. Debtor
6. Salary Paid
7. Creditor
8. Interest Received

Homework Solve questions from the book 15 mins Fundamentals of accounting