Lesson Plan for Senior Secondary 2 - Financial Accounting - Manufacturing Accounts

**Lesson Plan: Financial Accounting** **Topic:** Manufacturing Accounts **Grade Level:** Senior Secondary 2 **Duration:** 90 minutes --- **I. Objectives:** By the end of the lesson, students will be able to: 1. Understand the purpose of manufacturing accounts. 2. Identify the components of manufacturing accounts. 3. Prepare a manufacturing account including cost of raw materials, work-in-progress, and finished goods. --- **II. Materials Needed:** - Whiteboard and markers - Projector and laptop - Handouts with sample manufacturing account format - Calculator - Class textbook on Financial Accounting - Sample data for manufacturing account exercises --- **III. Lesson Outline:** **1. Introduction (15 minutes)** a. Greetings and attendance check. b. Start with a brief discussion on what manufacturing is and some examples of manufacturing businesses. c. State the objectives of the lesson and provide a brief overview of the importance of manufacturing accounts in financial accounting. **2. Presentation (20 minutes)** a. Define Manufacturing Accounts: - Explain the purpose and importance. - Differentiate between manufacturing accounts and trading accounts. b. Components of Manufacturing Accounts: - Explain Direct materials, Direct labor, Manufacturing overheads. - Discuss other key terms: Prime Cost, Factory Cost, Cost of Production. c. Format of Manufacturing Accounts: - Use a sample format on the whiteboard/projector. - Go through each section and its significance. **3. Activity/Practice (30 minutes)** a. Distribute handouts with sample manufacturing account format and sample data. b. Guided Practice: - Work through an example of calculating the cost of raw materials used, total factory cost, and the cost of production using the sample data. c. Individual Practice: - Assign a different set of data and have students prepare their own manufacturing accounts in their notebooks. - Walk around the class, giving individual support and feedback as needed. **4. Review and Discussion (15 minutes)** a. Collect a few completed accounts and review them on the board. b. Common Errors: - Address any common mistakes that were made. - Provide additional examples if necessary. c. Q&A Session: - Allow students to ask questions. - Clarify any doubts or confusion about the topic. **5. Conclusion (5 minutes)** a. Recap the key points covered in the lesson. b. Explain the next steps and what to expect in the upcoming lessons. c. Assign homework: Complete a manufacturing account with a new set of data provided in handout. d. Encourage reading the next chapter in the textbook for the upcoming class. --- **IV. Assessment:** - Monitor student participation during the activity. - Review students' completed manufacturing accounts for accuracy. - Evaluate student's homework for understanding and completeness. --- **V. Homework:** Prepare a manufacturing account using the sample data provided in class. This includes calculating the cost of raw materials used, total factory cost, and the cost of production. --- **VI. Reflective Notes for Teacher:** After the lesson, take some time to reflect on: - What went well in the lesson? - Did students grasp the main concepts of manufacturing accounts? - Were there any areas where students struggled? - What could be improved in future lessons?