Lesson Plan for Senior Secondary 1 - Financial Accounting - Petty Cash Book Ii

--- ### Lesson Plan: Financial Accounting – Petty Cash Book II **Grade Level:** Senior Secondary 1 **Subject:** Financial Accounting **Topic:** Petty Cash Book II --- #### Objectives: By the end of the lesson, students should be able to: 1. Understand the importance and function of a petty cash book. 2. Record transactions in a petty cash book using the imprest system. 3. Differentiate between types of expenses recorded in the petty cash book. 4. Prepare and balance a petty cash book. #### Materials Needed: - Textbook/Handout on Petty Cash Book - Whiteboard and Markers - Sample Petty Cash Vouchers - Practice Worksheets - Calculators #### Duration: - 1 hour (60 minutes) --- #### Lesson Outline: **Introduction (10 minutes)** 1. **Welcome and Attendance:** Greet students and take attendance. 2. **Review Previous Lesson:** Briefly recap Petty Cash Book I - Introduction to Petty Cash, its purpose, and limitations. 3. **Lesson Overview:** Explain the objectives of the lesson and what students will be doing. **Instructional Input (15 minutes)** 1. **Definition and Purpose:** - Explain what a petty cash book is and why it is used in businesses. - Emphasize the importance of recording minor and incidental expenses. 2. **Imprest System:** - Describe the imprest system, where a fixed amount of cash is maintained. - Example: If the imprest amount is $200, it will be replenished to $200 at the end of a period. 3. **Components of a Petty Cash Book:** - Columns: Date, Voucher Number, Details, Amount, and Analysis Columns (e.g., Postage, Stationery). - Show a sample petty cash book on the whiteboard or projector. **Guided Practice (15 minutes)** 1. **Recording Transactions:** - Demonstrate how to record a series of transactions in the petty cash book. - Example: - 1 Jan: Bought postage stamps, $10. - 2 Jan: Purchased writing pads, $15. - 3 Jan: Paid for taxi fare, $20. 2. **Balancing the Book:** - Show students how to total the columns and balance the petty cash book. - Example: Total expenses for the period and how to request replenishment. **Independent Practice (15 minutes)** 1. **Worksheet Activity:** - Hand out practice worksheets with a list of transactions for a week. - Students will complete the petty cash book individually or in pairs. **Conclusion and Review (10 minutes)** 1. **Review Key Points:** - Go over filling out the petty cash book, balancing it, and using the imprest system. 2. **Questions and Answers:** - Allow time for students to ask any outstanding questions. - Provide clarification and additional examples if necessary. 3. **Homework/Assignment:** - Assign a few transactions as homework for students to practice at home. - Encourage students to review the day's notes and prepare questions for the next class. #### Assessment: - Observe student participation and understanding during the guided practice. - Collect and review the completed worksheets to assess comprehension. - Evaluate the homework for correct entries and balancing of the petty cash book. --- #### References: 1. Textbook Chapter on Petty Cash Book. 2. Handout: Sample Petty Cash Book Format and Transactions. 3. Online Resources on Financial Accounting Principles. --- This lesson plan provides a comprehensive guide to teaching senior secondary students about recording and managing petty cash using the imprest system. By following this outline, students will gain a solid understanding and practical skills in managing petty cash within a business context.