### Lesson Plan: Financial Accounting - Petty Cash Book
**Grade Level:** Senior Secondary 1
**Subject:** Financial Accounting
**Duration:** 60 minutes
**Topic:** Petty Cash Book
#### Objectives
By the end of this lesson, students will be able to:
1. Define and explain the concept of a petty cash book.
2. Understand the importance and role of a petty cash book in financial accounting.
3. Record transactions in a petty cash book using the imprest system.
4. Prepare a simple petty cash book.
#### Materials Needed
- Whiteboard and markers
- Projector and computer
- Handouts with sample transactions
- Blank petty cash book templates
- Calculator
#### Lesson Outline
1. **Introduction (10 minutes)**
- **Greeting and Roll Call:** Warmly greet the students and take attendance.
- **Ice Breaker:** Ask students to share any small, everyday expenses they or their family might incur (like buying stationery, snacks, etc.).
- **Lesson Introduction:** Introduce the topic by explaining the importance of tracking small day-to-day expenses, linking it to the day's topic: the petty cash book.
2. **Explanation and Teaching (20 minutes)**
- **Definition and Purpose:**
- Define a petty cash book: a subsidiary ledger used to record minor daily expenditures that are not suitable to be recorded individually in the main ledger.
- Explain its importance in maintaining control over small cash transactions.
- Discuss the imprest system: a financial accounting system where a fixed cash amount is maintained to cover incidental expenses.
- **Structure of a Petty Cash Book:**
- Outline the columns typically found in a petty cash book: date, particulars, voucher number, amount, and balance.
- Explain the process of replenishing the petty cash fund when it runs low.
- **Example Walkthrough:**
- Use the whiteboard or projector to demonstrate how to record transactions in a petty cash book.
- Walk students through a few sample transactions, showing entries and balance calculations.
3. **Guided Practice (15 minutes)**
- **Handout Activity:**
- Distribute handouts with a list of sample transactions to all students.
- Provide blank petty cash book templates.
- Guide students through recording these transactions in their petty cash books.
- Walk around the classroom, offering help and checking for correctness.
4. **Independent Practice (10 minutes)**
- **Individual Task:**
- Assign a short set of transactions for students to record independently in their petty cash books.
- Monitor the classroom, providing assistance as needed.
5. **Review and Assessment (5 minutes)**
- **Review Key Points:**
- Recap the importance and use of a petty cash book.
- Reiterate the steps in recording transactions and maintaining the imprest system.
- **Q&A Session:**
- Open the floor for any questions and provide clear answers.
6. **Conclusion and Homework (5 minutes)**
- **Summarize the Lesson:**
- Quickly summarize the key takeaways of today's lesson.
- **Homework Assignment:**
- Assign students to create a petty cash book with at least 10 transactions based on hypothetical small expenses they might encounter in daily life.
- **Feedback:**
- Encourage students to share their thoughts on the lesson and suggest any topics they are interested in covering in future classes.
- **Exit Ticket:**
- Ask each student to write down one thing they learned today about petty cash bookkeeping before they leave the classroom.
#### Assessment
- **Formative:** Observe and assist students during guided and independent practice.
- **Summative:** Evaluate the students' homework assignments for accuracy and understanding of recording transactions in a petty cash book.
#### Differentiation
- **Struggling Students:** Provide additional examples and one-on-one guidance.
- **Advanced Students:** Challenge them with more complex transactions or ask them to explain the concept to their peers.
#### Reflection
- After the lesson, reflect on its effectiveness by collecting student feedback and assessing their work. Modify future lessons accordingly to address any gaps in understanding.
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By following this structured lesson plan, students in Senior Secondary 1 will gain a fundamental understanding of petty cash books, which plays a crucial role in financial accounting.