NORTH CENTRAL MINDANAO COLLEGE, INC.

Maranding, Lala, Lanao del Norte

Tel. No. (063) – 227-8004
www.ncmc.edu.ph

Grade
School NORTH CENTRAL MINDANAO COLLEGE, INC. Grade 12
Level
DAILY LESSON
LOG Marc Bernelle Buhale Learning
Teacher Area Accounting 2

2:30-3:30/7:30-8:30
Teaching Date and September 4-8, 2023 1st Semester 1st Quarter
ABM Quarter
Time Week 1
MTW/F

MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY

1. OBJECTIVE:

The learner demonstrates an understanding of account titles under the assets, liabilities, and capital accounts of the Statement of Financial Position, namely,
A. Content Standard cash, receivables, inventories, prepaid expenses, property, plant and equipment, payables, accrued expenses, unearned income, long-term liabilities and
capital that will equip him/her in the preparation of the SFP using the report form and account form.

The learners shall be able to solve exercises and problems that require preparation of an SFP for a single proprietorship with proper classification of accounts
B. Performance Standard
as current and noncurrent using the report form and the account form.

This activity aims to target the

following DepEd competency:
This activity aims to target Identify the elements of a Statement
This activity aims to target the of Financial Position and describe
the following DepEd
following DepEd competency: each of them
competency:
Prepare an SFP using the report (ABM_FABM12-Ia-b-1).
Identify the elements of a
C. Learning Competencies form and the account form with This activity aims to target the
Statement of Financial
proper classification of following DepEd competency:
Position and describe each of
items as current and noncurrent Prepare an SFP using the report form
them
(ABM_FABM12-Ia-b-4). and the account form with proper
(ABM_FABM12-Ia-b-1).
classification of
items as current and noncurrent
(ABM_FABM12-Ia-b-4).
 Faculty Manual Preparation of a Statement of
II.CONTENT Introduction to Statement of
Orientation Financial Position
Financial Position
III.LEARNING RESOURCES Quipper

A. References Quipper Quipper

1. Teacher's Guide pages

2. Learner's Materials

3. Textbook pages Internet Internet

Internet
4. Additional Materials from LR

B. Other Learning Resources Internet Internet Internet

V.PROCEDURE

A. Reviewing previous lessons or Gathering Ideas from

presenting the new lesson. Review of the past lesson CL
students about the topic.
1. What are the uses of a
Statement of Financial
Position?
2. What are the elements of
the Statement of Financial
Faculty Manual What is the ratio of obligations
B. Establishing a purpose for the lesson Position? CL
Orientation 3. What are the current and
against owner's equity?
non-current elements of a
Statement of Financial
Position?

C. Presenting examples/instances of the Faculty Manual 1. What are the uses of a . CL

new lesson Statement of Financial 1. Search for an SFP published on
Orientation
Position? the internet. How were the
-It is used by the elements (assets, liabilities, and
management and equity) arranged?
stakeholders of the business,
including creditors/banks and
future investors. Stockholders 2. Are there other ways to present
and prospective investors use a Statement of Financial Position
it to make investment besides the one you found? If
decisions. Management uses there are, provide the related
 it to make decisions based on
the
business's financial health.
Creditors use it to determine
if a company is stable and
financially qualified to secure
a loan.

2. What are the elements of

the Statement of Financial
Position?
-Assets, Liabilities, and Equity.
Assets are owned by a
company and are used to
produce
products/services in order to details or description.
generate profits. Liabilities are
debts that a company owes to
other entities. Equity is what 3. What are the advantages of
is left when liabilities are each SFP form?
subtracted from the assets.

3. What are the current and

non-current elements of a
Statement of Financial
Position?
-A Statement of Financial
Position shows the current
assets, non-current assets,
current
liabilities, and non-current
liabilities. Current elements
are usually dealt with within a
year,
while non-current elements
are usually dealt with for
more than a year.
D. Discussing new concepts and Faculty Manual Statement of Financial 1. Why do Statements of Financial CL
Practicing New Skills #1 Position Position for sole proprietorships
Orientation
-shows a business's financial only have one
condition as of a given period entry in the owner’s equity
-shows what a business owns section?
 and what it owes to its
A sole proprietorship business only
creditors and owners
has a single owner. Thus, the
-records a company's assets,
owner's equity belongs
liabilities, and equity
to the single owner of the
company. It is different from
Elements of Statement of
corporations, where the equity
Financial Position
may be divided among
Current Assets
shareholders.
-easy to liquidate and are
used within a year
2. What is the difference between
-Examples: cash, accounts
the report form and the account
receivable, cash equivalents,
form of a
and inventories
Statement of Financial Position?
Non-current Assets
The only difference is that the
-difficult to dispose of and can
other is presented vertically while
be used for more than a year
the other is presented
-Examples: land, equipment,
horizontally.
building
1.What is the difference
between current and non-
current assets?
Current assets can be
converted into cash within
one accounting period (12
months),
while non-current assets are Because major business decisions
converted into cash in more are based on the financial
than one accounting period. statements prepared by an
E. Discussing new concepts and
Practicing New Skills #2 Faculty Manual 2. What is the difference accountant, one cannot emphasize CL
Orientation between current and non- enough the importance of
current liabilities? preparing accurate financial
Current liabilities are statements.
obligations that must be paid
within one accounting period
(12
months), while non-current
liabilities are obligations that
are due to be paid in more
than one accounting period.
F. Developing Mastery The Statement of Financial For users of accounting . CL
(Leads to formative Assessment 3) Faculty Manual Position shows a company's information, viewing, assessing,
Orientation financial condition as of a and analyzing a company's
given period. It shows the financial statement can help them
assets, liabilities, and equity make an informed business
of a business. decision. One of the financial
Assets are things a business statements that can show a
owns and are used to make company's ability to pay its short-
goods or render services, term and long-term debts is the
giving a business revenue. A Statement of Financial Position
business's liabilities are (SFP).
obligations to other
companies, such as debts,
loans, and other things that it
should pay. Equity is the sum
of all investments from the
owner and the business's net
income, decreased by the
owner’s drawings from the
business. If the business
incurs a loss instead of an
income, the loss will decrease
the equity.
A partnership's equity section
shows the capital balances of
each business partner. In
corporations, the equity
section shows the shares of
stocks and the retained
earnings. The shares of
stocks of a corporation could
be common stock or preferred
stock. The retained earnings
represent the corporation's
accumulated profits.

One can differentiate current

assets from non-current
assets by identifying which
assets are liquid and can be
used within 12 months. On
the other hand, one can
differentiate current liabilities
from non-current liabilities by
determining which obligations
 need to be settled within 12
months.
Identify the followin. Write in Check Your Progress
the blanks with the correct Why do Statements of Financial
G. Finding practical applications of . Faculty Manual
concepts and skills in daily living answer Position for sole proprietorships CL
Orientation only have one entry in the owner’s
equity section?
A. True or False. Write true if the
H. Making generalizations and Faculty Manual
abstraction about the lesson Additional Discussion statement is correct. Otherwise, CL
Orientation write false.
Determine if the following
accounts are Assets,
Write an essay?
Liabilities, or Equity.
What is the difference between
I. Evaluating Learning Faculty Manual 1. Cash
the report form and the account CL
Orientation 2. Accounts Receivable
form of a Statement of Financial
3. Capital
Position?
4. Equipment
5. Notes Payable
J. Additional activities for application
Or remediation Advance Study Advance Study CL
V. REMARKS

VI. REFLECTION

A.No. of learners who earned 80 % in

the evaluation
B.No. of learners who require additional
activities for remediation
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 that
my principal or supervisor could have
helped me solve?
to share with other teachers?

Prepared by:

MARC BERNELLE BUHALE

Subject Teacher

Approved:

EDUVIGIS G. GANDIONCO

Secondary School Principal