NATIONAL CURRICULUM STATEMENT

ECONOMIC AND MANAGEMENT SCIENCES

LESSON PREPARATION
TERM 2

GRADE 8 SUBJECT EMS WEEK(S): 3 HOURS: 30 MINUTES PERIOD: 8

DATE STARTED: DATE COMPLETED:

TOPIC:
FINANCIAL LITERACY
ACCOUNTING CYCLE
LINKS WITH PREVIOUS LESSON: LINKS WITH NEXT LESSON(S):
 Introduction of the Cash Journals of a service business – their  Cash Receipts Journal of a Service business
purpose and importance
CONTENT: KEY TERMS (VOCABULARY):
Transaction, source document, subsidiary journal, general ledger,
 Mark Activity 5 trial balance, income statement, balance sheet.
 Give a summary the accounting cycle

TEACHER ACTIVITIES LEARNER ACTIVITIES DURATION

 Learners give answers on Activity 5
 Mark Activity 5 with the learners.
 Learners mark and do correction if
 Promote peer marking 20 minutes
necessary – peer marking
 Learners ask questions to clarify
 Learners listen and answer any questions
 Give and discuss summary on Accounting cycle with learners that the teacher poses to them in class. 10 minutes

TEACHING STRATEGY/ METHODOLOGY

Discussion P Visual/ Practical Demonstration
Explanation P Simulation
Observation Use of technology and instructional resources
Question and answer P Role playing
Adaptation Other:
ASSESSMENT
 FORM TOOL METHOD
Data Response Poster Memorandum P Baseline
Project Class work P Rubric with criteria Formal
Case Study Homework Checklist Informal P
Control Test Assignment Observation Sheet Educator P
Examinations Class Test Other: Self P
Debate Data Response Peer
Drama Other : Other :
RESOURCES:

TEACHER REFLECTION EXPANDED OPPORTUNITIES/ ENRICHMENT

 Use either PowerPoint presentations, colourful charts (print rich
_______________________________________________________ class room) or adjust the font size of notes for learners who are
_______________________________________________________ visually impaired.
 Learners are given an opportunity to do more exercises if time
_______________________________________________________ allows for it.
_______________________________________________________  Allow for peer teaching to accommodate learners who are not
speakers of the language of instruction.
_______________________________________________________  Assist learners who are struggling with the work. One-one
_______________________________________________________ assistance.
 Re-teach difficult concepts to learners.
 Draw up intervention programme for learners at risk.

Name of Teacher: ____________________________ HOD: _________________________________

Signature: _________________________________ Signature: ______________________________

Date: ______________________________________ Date: __________________________________

Support Material

An Accounting cycle looks as follows:

1. Transaction

A = E + L
7. Balance Sheet

2. Source Documents

6. Income Statement
3. Journals

4. Posting to Ledger
5. Trial Balance
 ACCOUNTING CYCLE SUMMARISED THUS FAR
STEP 1 STEP 2 STEP 3 STEP 4 STEP 5 STEP 6

TRANSACTIONS COMPLETING OF RECORDING IN POSTING TO THE DRAWING UP DRAWING UP

SOURCE JOURNALS LEDGER A TRIAL FINANCIAL
DOCUMENTS BALANCE STATEMENTS

1. Cash transaction: BALANCE SHEET Testing double INCOME

- Cash from rendering a service Cash register roll CASH RECEIPTS ACCOUNTS entry system STATEMENT
- Owner contributes money Duplicate receipt JOURNAL (CRJ) Capital used in Ledger Shows performance
- Received rent from a tenant Duplicate receipt Bank of business
- Sales Cash register roll NOMINAL Debit side (Dr) (Profit / Loss)
ACCOUNTS equals Credit
Current Income side (Cr) BALANCE SHEET
Rent Income Balances when Indicate position of
Sales the two sides business at end of
2. Cash transaction: BALANCE SHEET are the equal financial period to
- Payment by cheque of fixed Cheque CASH PAYMENTS ACCOUNTS see if it is still:
assets: counterfoil JOURNAL (CPJ) Land and Buildings Viable
Land and buildings Cheque Vehicles Sustainable &
Vehicles counterfoil Equipment Can continue
Equipment Cheque Bank
- Payment of expenses by cheque counterfoil Drawings
- Owner takes a cheque for his Cheque NOMINAL
personal use. counterfoil ACCOUNTS
Rent Expense
Salaries