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Bank Recon

Lesson Plan in Bank Reconciliation

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jennylyn.brase
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16 views2 pages

Bank Recon

Lesson Plan in Bank Reconciliation

Uploaded by

jennylyn.brase
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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SEMI-DETAILED LESSON PLAN IN FUNDAMENTALS OF ABM2

DATE May 2, 2023


TIME 7:30 – 9:30am
GRADE&SECTION G12 ABM
QUARTER&SEM 4th QUARTER - 2ND SEMESTER

I. OBJECTIVES
At the end of the lesson, the learner should be able to:

1. Define Bank Reconciliation


2. Describe the nature of a Bank Reconciliation Statement
3. Give the importance of Bank Reconciliation Statement
ABM_FABM12-IId-10

II. SUBJECT MATTER


BANK RECONCILIATION STATEMENT

III. LEARNING RESOURCES


A. References: ABM • Fundamentals of Accountancy, Business and Management 2
Grade 12: Module 1
First Edition, 2020
La Union Schools Division
Region I
B. Other Learning Materials: Laptop, TV, PPT Presentation, Chalkboard, Activity Sheets, Hand Outs

IV. PROCEDURE

a. ACTIVITY

A check was issued to Meralco by the company amounting to Php1,000. The company
recorded this as Php 100. When the check was presented, the bank paid Meralco Php 1,000.

b. ANALYSIS

1. What amount does the company recorded?


2. What amount does the bank recorded?
3. How will you explain the difference between the company’s record and the bank records?
4. What is the effect in the company’s record if the bank recorded the correct amount?
5. How will you properly record the error of recording?

c. ABSTRACTION
1. What is Bank Reconciliation?
2. What are the contents and purpose of bank statement?
3. Can you describe the nature of a Bank Reconciliation Statement?
4. How important a bank reconciliation to the company and bank?
5. What is the importance of Bank Reconciliation Statement?

d. APPLICATION
On January 1,2019, the company collected Php10,000 from its accounts receivable.
The collection was deposited to open savings account in ABC Bank. Let us assume that we
left this deposit in the bank. There was no other transaction on this cash account. On
December 31,2019 the cash in bank – ABC Bank will have a ledger balance of Php10,000.
This is from the posted entry on January 1,2020.
At the end of the year, we received the bank statement from ABC Bank. Per bank
statement, the balance of the account is Php10,050. This gives a problem. The accounting
record shows a balance of Php10,000.

a. Do we conclude the bank made an error because we are sure there were no movements
in this cash account?
b. Perform a bank reconciliation by using the figure below. In this scenario, there are no
other transactions recorded on the ledger ledger account exept the original entry. On the
other hand, we noted that the bank statement shows interest of Php50 earned by the
savings account.

V. EVALUATION
A. TRUE OR FALSE
Direction: Read and understand the following statements carefully. Write TRUE if the statement
is correct and FALSE if the statement is incorrect.
________________________ 1. Preparation of bank reconciliation helps in identification of
errors in the accounting records of the company or the bank.
________________________ 2. Errors by other party in recording transactions prevent one of
the parties (company or the bank) from recording the transaction in the same period as the other
party.
________________________ 3. It is normal for a company’s bank balance as per accounting
records to differ from the balance as per bank statement.
________________________ 4. Book to Bank Method wherein the balance per bank and per
book are separately determined.
________________________ 5. Adjusted Method where the bank balance is adjusted to agree
with the book balance.
____________________ 6. Interest credit by the bank is the amount deducted from the
depositor’s account in the bank books as payment of loan due from the depositor.
________________________ 7. NSF Checks should not be debited back to the customers.
________________________ 8. Outstanding Checks have been recorded by the bank but not
yet recorded by the depositor.
________________________ 9. Another reason why the balance per book will not tally with the
balance per bank is when errors are committed by either party.
________________________ 10. It is normal for a company’s bank balance as per accounting
records to differ from the balance of as per bank statement.

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