Lesson Plan for Senior Secondary 2 - Financial Accounting - Partnership Account Vi

### Senior Secondary 2 Financial Accounting: Partnership Accounts VI - Dissolution of Partnership #### Lesson Plan **Duration:** 90 minutes **Objective:** By the end of the lesson, students should be able to: 1. Understand the concept of dissolution of a partnership. 2. Recognize the reasons for dissolution. 3. Prepare accounts related to the dissolution of a partnership, including the Realisation Account, Partner's Capital Account, and Cash/Bank Account. 4. Distribute the partnership assets and liabilities accurately among partners. ### Lesson Flow --- **1. Introduction (10 minutes)** *Greet the class and set the stage for the lesson.* **Teacher:** - **Attention Grabber:** Share a brief story or real-world example where a business partnership was dissolved. - **Objective Explanation:** Explain the objective of the lesson clearly and why understanding the dissolution process is important in financial accounting. **Student Activity:** - **Initial Thoughts:** Have students discuss in pairs what they think dissolution of a partnership means and what could be the possible reasons for it. --- **2. Theoretical Explanation (20 minutes)** **Teacher:** - **Concept Explanation:** - Define dissolution of a partnership and differentiate it from the winding up of a partnership firm. - Discuss the common reasons for dissolution (e.g., mutual agreement, expiration of a partnership term, death or insolvency of a partner, etc.). - Explain the steps involved in the dissolution process. **Student Activity:** - **Note-taking:** Students should take notes and write down any questions they may have. --- **3. Partner's Capital and Realisation Account (25 minutes)** **Teacher:** - **Account Preparation:** - Show how to prepare the Realisation Account, including the transfer of assets and liabilities. - Explain the process of closing the books by transferring all assets and liabilities to the Realisation Account. - Describe the treatment of gains or losses on realization. - Demonstrate the preparation of Partner's Capital Accounts and Cash/Bank Accounts. **Student Activity:** - **Guided Practice:** - Provide students with a sample problem involving the dissolution of a partnership. Guide them through preparing the Realisation Account, Partner's Capital Account, and Cash/Bank Account. - Emphasize the importance of accurate calculation and fair distribution among partners. --- **4. Hands-On Exercise (20 minutes)** **Teacher:** - **Independent Practice:** Distribute a worksheet with a different dissolution problem to solve individually or in small groups. **Student Activity:** - **Worksheet Completion:** Students solve the problem, preparing necessary accounts as learned. **Teacher:** - **Feedback Session:** Review the worksheet answers as a class, addressing any misconceptions or errors. --- **5. Summary and Q&A (15 minutes)** **Teacher:** - **Lesson Recap:** Summarize the key points covered in the lesson. - **Q&A Session:** Address any remaining questions or concerns from the students. **Student Activity:** - **Reflection:** Have students write a brief paragraph on what they learned and any areas they found challenging. --- **6. Homework (5 minutes)** **Teacher:** - **Assignment:** Assign a homework problem that involves dissolving a partnership and preparing the necessary accounts. **Student Activity:** - **Homework Preparation:** Ensure students understand the homework assignment and confirm the due date. --- ### Materials Needed - Whiteboard/Chalkboard and markers/chalk - Projector for slides (optional) - Handouts of example problems and worksheets - Notebooks and pens/pencils for students ### Assessment - **Formative Assessment:** Through class participation, pair discussions, and the hands-on exercise, assess students' understanding in real-time. - **Summative Assessment:** Evaluate students’ homework, ensuring they accurately prepare the dissolution accounts and distribute assets and liabilities among partners. ### Differentiation - For students who need extra help, consider providing simplified examples or additional one-on-one support. - Advanced students can be challenged with more complex partnership dissolution scenarios. ### Reflection and Improvement - After the lesson, reflect on its effectiveness, note any areas for improvement, and adjust future lesson plans accordingly. ### Notes for Next Lesson - The next topic will continue on partnership accounts, focusing on scenarios like the admission and retirement of partners. Make sure to relate the dissolution process to these upcoming topics.