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LP Elements of Statement of Financial Position

This lesson plan aims to teach students the elements of a statement of financial position. It will have the students classify various items as assets, liabilities, or capital through group activities. They will then prepare sample statement of financial positions for different companies. The lesson emphasizes teamwork and respect during group work. It evaluates students based on their understanding of the key elements and organization of ideas. For homework, students must classify items into current and non-current.

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Ald Rich Nuñez
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67 views3 pages

LP Elements of Statement of Financial Position

This lesson plan aims to teach students the elements of a statement of financial position. It will have the students classify various items as assets, liabilities, or capital through group activities. They will then prepare sample statement of financial positions for different companies. The lesson emphasizes teamwork and respect during group work. It evaluates students based on their understanding of the key elements and organization of ideas. For homework, students must classify items into current and non-current.

Uploaded by

Ald Rich Nuñez
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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A LESSON PLAN IN ELEMENTS OF STATEMENT OF FINANCIAL POSITION

HILDA E. SANTOS
CPE BATCH 2 TEAM LEYTE

I. Objective:
Identifies the elements of statement of financial Position and describe each element.
ABM-FABM12-Ia-b-1

Values: Listen and avoid talking while someone is discussing.

II. Subject Matter

A. Content: Statement of Financial Position


B. Reference: K-12 Basic Curriculum Senior High School- Accountancy, Business
and Management (ABM) Specialized Subject

 Financial Accounting Volume 1, 2011 Revised Edition by Valix, Peralta and Valix
 https://accounting-simplified.com/financial/statements/statement-of-financial-position/

C. Materials: laptop, LED monitor, wifi, strips of paper, manila paper, pentel pens, masking tape

III. Procedure
A. Preliminary Activity
 Prayer
 Greetings and attendance checking
 Setting of standards, do’s and don’ts before the start, during and after discussion of the
lesson

B. Motivation
The teacher will show images and situations, thru power point presentation, we already
encounter these elements of statement of financial position and it has become part of our daily
activities.
 What was the presentation all about?
 What are the daily activities where elements of statement of financial position is/are
present?
 Cite personal activity that may involve these elements of statement of financial position.

C. Lesson Proper

A. ACTIVITY 1
Group the class into three. Let them classify if following items are classified as Asset,
Liabilities and Capital. Let them post their answer to the board.

ASSET LIABILITIES CAPITAL

1. Cash 1. Trade Payable 1. Capital Shares


2. Trade Receivable 2. Notes Payable 2. Paid Up Capital
3. Inventories 3. Bonds Payable 3. Retained Earnings
4. Investments 4. Deferred Tax Liability 4. Dividends
5. Property, Plant and Equip. 5. Accrued Expenses 5. Drawings

After posting their work, ask them the following questions:


 How were you able to classify the above items into asset, liabilities and capital?

B. ACTIVITY 2
Ask the class for a volunteer who can give the correct answers and let them post their
answer to the board.

ASSET = LIABILITIES + CAPITAL


A. Asset = 1,000 Liabilities = 600 Capital = ?
B. Asset = ? Liabilities = 5,500 Capital = 4,500
C. Asset = 20,000 Liabilities = ? Capital = 12,000

Values: What shall we do when somebody is talking or discussing something?

When someone is talking or answeering, do not interrupt or murmuring the correct


answer. Do not laugh or embarrass them when their answer is incorrect.

1. ANALYSIS

A. Give an introduction and overview on financial statements.


 Definition of financial statements
 Components of financial statements
 Objective of financial statements
 Frequency of reporting financial statements

B. Focus the discussion to Statement of Financial Position by asking the leaners the
following questions:
 What is a Statement of Financial Position (or Balance Sheet)?
 Differentiate asset, liabilities and capital.
 What are the essential characteristics of assets, liabilities and capital.

2. ABSTRACTION

 What do you think is the purpose or importance of Statement of Financial Position?


 Who do you think are the users of Statement of Financial Position?
 Why does the Statement of Financial Position always balances?

3. APPLICATION

Group Activity

 Divide the class into 3 groups and let them prepare Statement of Financial Position
classified according to its elements only with supporting notes and computations as of
December 31, 2019.

Group 1 – Easy Company

Group 2 – Simple Company

Group 3 - Exemplar Company

Values: When having a group activity, team work is a must and give respect to each
members of the group.

IV. Evaluation

Identify the elements of Statement of Financial Position and describe each element.

RUBRICS

INDICATORS POINTS

Correct and well-organized ideas 5


Well-organized ideas 4

Ideas are not clearly explained 3

Submitted but not correct 2

No answer submitted 1

V. Assignment

Classify the elements of the Statement of Financial Position into current and non current items.

FOR
CHECKED: DEMO
NOV. 7, 2020

NSTRA
MASTER TEACHER- I

TION

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