School Grade Level 11/12

DAILY LESSON LOG Teacher Learning Area ENTREPRENEURSHIP

Department of Education Teaching Dates and Time WEEK 7 Quarter QUARTER 2

Session 1: Session 2: Session 3: Session 4:

I. OBJECTIVES
A. Content Standards The learner demonstrates understanding of concepts, underlying principles, and processes of starting and operating a simple business.

B. Performance Standards The learner independently or with his/her classmates starts and operates a business according to the business plan and presents a terminal report of its operation.
Manifest understanding of starting and operating a simple business.

1. Perform key bookkeeping tasks:

C. Learning a. Understand accounting principles and concepts.
Competencies/Objectives b. Maintain accurate financial records.
c. Implement effective bookkeeping systems.
d. Use financial data to make informed decisions.

II. CONTENT BOOKKEEPING TASKS

III. LEARNING RESOURCES
A. References
1. TG’s Pages
2. LM’s Pages
3. Textbook’s Pages
B. Other Resources
IV. PROCEDURES
In the previous lesson, we discussed the
reasons for keeping business records,
how to implement effective record-
keeping systems and procedures, and
1. Reviewing previous lesson or how to use records to make informed
presenting the new lesson decisions and track performance. Today,
we will learn about performing key
bookkeeping tasks, specifically,
understanding accounting principles and
concepts.
2. Establishing the purpose of the By the end of this lesson, students should
lesson be able to understand the basic
accounting principles and concepts that
underlie bookkeeping tasks and apply
Today, we will be discussing the
importance of maintaining accurate
financial records in a business. We have
previously learned the different reasons
for keeping business records and how Today, we will be discussing the Ask students to recall the importance of
they can be used to make informed importance of implementing effective maintaining accurate financial records in
decisions, track performance, and ensure bookkeeping systems in starting and a business, and how these records can be
the long-term success and sustainability operating a simple business. used to make informed decisions.
of the business. In this lesson, we will
focus on one of the key bookkeeping
tasks, which is maintaining accurate
financial records.
At the end of the lesson, students are By the end of this lesson, you will be To teach students how to use financial
expected to understand the importance of able to understand the importance of data to make informed decisions in a
maintaining accurate financial records in implementing effective bookkeeping business.
a business, identify the different types of systems, identify the different types of

3. Presenting examples/instances of
the new lesson
4. Discussing new concepts and
practicing new skills #1
5. Discussing new concepts and
practicing new skills #2
6. Developing Mastery
them to their own business endeavors.
To start off, let's look at an example of a
simple business, a small retail store. The
owner of the store needs to keep track of
the money coming in and going out of the
business. To do this, the owner needs to
understand accounting principles such as
double-entry bookkeeping, the chart of
accounts, and financial statements.
Let's begin by discussing double-entry
bookkeeping. Double-entry bookkeeping
is a system of accounting that requires
every financial transaction to have two
entries. For example, when a customer
buys an item from the retail store, there
will be a debit entry to the cash account
(money coming in) and a credit entry to
the sales account (money going out).
Next, let's talk about the chart of
accounts. The chart of accounts is a list of
all the accounts used by a business to
record its financial transactions. This list
is usually organized by account type,
such as assets, liabilities, and equity.
For the developing mastery activity,
students will work in pairs to create a
fictional business and use double-entry
bookkeeping and a chart of accounts to
record financial transactions. Each pair
will present their business and
financial records that should be
maintained, and learn how to properly
maintain them.
a. Showing examples of financial
records, such as income statements,
balance sheets, and cash flow
statements.
b. Discussing the consequences of not
maintaining accurate financial
records, such as inaccurate financial
reporting and difficulties in
obtaining loans or investments.
a. What are financial records and why
are they important in a business?
b. What are the different types of
financial records that should be
maintained in a business?
c. How do we properly maintain
financial records?
a. Types of financial records: income
statements, balance sheets, cash flow
statements, and receipts/invoices.
b. Proper maintenance of financial
records: keeping receipts and
invoices, recording transactions in a
ledger, using accounting software,
and reconciling bank statements.
Activity: "Maintain Your Business
Records"
d. Students will be divided into groups
and given a scenario of a business
that needs to maintain financial
bookkeeping systems, and know how to
implement a bookkeeping system for
your simple business.
a. Example 1: A business owner who
did not implement an effective
bookkeeping system lost track of
their expenses and profits, resulting
in poor financial decisions and
Present examples of different financial
eventual bankruptcy.
data that can be used in decision-making,
b. Example 2: A business owner who
such as sales data, expense data, cash
implemented an effective
flow statements, and balance sheets.
bookkeeping system was able to
track their expenses and profits
accurately, enabling them to make
informed financial decisions and
grow their business.
a. Discussing the importance of
implementing effective bookkeeping a. Introduce the concept of financial
systems analysis, and discuss how it can be
b. Identifying the different types of used to make informed decisions.
bookkeeping systems (single-entry, b. Explain the different methods of
double-entry, manual, and financial analysis, such as ratio
computerized) analysis, trend analysis, and
c. Comparing the advantages and comparative analysis.
disadvantages of each type of c. Provide students with sample
bookkeeping system financial data and guide them
d. Practicing how to choose the through the process of performing
appropriate bookkeeping system for ratio analysis.
a given business
a. Introduce the concept of budgeting,
a. Discussing the process of
and discuss how it can be used to
implementing a bookkeeping system
make informed decisions.
for a simple business
b. Explain the different types of
b. Identifying the key elements of a
budgets, such as cash budgets,
bookkeeping system (income
operating budgets, and capital
statement, balance sheet, cash flow
budgets.
statement, general ledger, etc.)
c. Provide students with sample
c. Practicing how to create and
financial data and guide them
maintain accurate financial records
through the process of creating a
using a bookkeeping system
cash budget.
Interactive activity: Divide the class into a. Divide students into small groups.
small groups and have them create a b. Provide each group with financial
simple business plan. Then, have them data for a hypothetical business.
discuss and choose the appropriate c. Instruct each group to analyze the
bookkeeping system for their business data using ratio analysis, trend
plan. Afterward, each group will present analysis, and comparative analysis,

7. Finding practical applications of
concepts and skills in daily living
8. Generalizing and abstractions
about the lesson
9. Evaluating Learning
10. Additional Activities for
Application or Remediation
records.
e. Each group will be provided with
receipts and invoices of the business
transactions.
f. Students will then need to record the
transactions in a ledger and create
bookkeeping records to the class. financial statements, such as income
statements and balance sheets.
g. The group will present their financial
statements to the class and explain
the importance of maintaining
accurate financial records in their
business scenario.
Accounting principles and concepts are
essential not only for running a business
Students can apply the knowledge and
but also for managing personal finances.
skills they learned in maintaining their
Students can apply these concepts to their
own personal financial records, such as
own lives by creating a personal budget
budgeting and tracking expenses.
and keeping track of their income and
expenses.
Students will reflect on the importance of
By the end of the lesson, students should
maintaining accurate financial records
understand the basic accounting
not just in a business, but in their
principles and concepts that underlie
personal lives as well. They will also
bookkeeping tasks and be able to apply
discuss how maintaining financial
them to their own business endeavors and
records can contribute to financial
personal finances.
stability and success.
Assessment: "Financial Record-
Keeping Quiz"
 Students will take a quiz to assess
their understanding of financial
record-keeping concepts and skills,
such as identifying the different
types of financial records and proper
maintenance of financial records.
For additional activities, students can
research and present on various
accounting software programs or create a
balance sheet and income statement for
their fictional business. For remediation,
struggling students can work with the
teacher one-on-one to review and practice
key concepts.
their bookkeeping system and explain
why they chose it.
Have students reflect on their own
financial habits and how they can
implement effective bookkeeping
systems to manage their personal
finances better.
Students will be asked to generalize the
concepts and skills learned in this lesson
and apply them to other aspects of
entrepreneurship, such as marketing,
operations, and management.
a. For students who need additional
practice, they can be given a case
study where they will need to create
a bookkeeping system for a
hypothetical business and present it
to the class.
b. For students who have already
mastered the concepts and skills,
they can be given a more advanced
topic related to bookkeeping
systems, such as automation or
and to create a cash budget.
d. Have each group present their
findings and explain how they would
use the data to make informed
decisions.
a. Discuss real-life examples of
businesses that have used financial
data to make informed decisions.
b. Have students brainstorm ways in
which they could use financial data
to make informed decisions in their
personal lives.
a. Discuss the importance of using
financial data to make informed
decisions in a business.
b. Emphasize the need for accurate
financial records and effective
bookkeeping systems to support this
process.
a. Ask students to complete a short
quiz to assess their understanding of
the concepts covered in the lesson.
b. Observe students during group work
and presentations to assess their
ability to apply the concepts to
practical situations.
 cloud-based bookkeeping systems.

V. REFLECTION

A. No. of learners who earned 80%

in the evaluation.
B. No. of learners who require
additional activities for
remediation who scored below
80%.
C. Did the remedial lessons work?
No. of learners who have caught
up with the lesson.
D. No. of learners who continue to
require remediation.
E. Which of my teaching strategies
worked well? Why did this work?
F. What difficulties did I encounter
which my principal or supervisor
can help me solve?
G. What innovation or localized
materials did I use/discover which
I wish to share with other
teachers?