Lesson Notes By Weeks and Term - Senior Secondary 1
Source documents and subsidiary books
Source documents and subsidiary books
Term: 1st Term
Week: 7
Class: Senior Secondary School 1
Age: 15 years
Duration: 40 minutes of 2 periods each
Date:
Subject: Financial accounting
Topic:- Source documents and subsidiary books
SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to
INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source
INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures
INSTRUCTIONAL PROCEDURES
PERIOD 1-2
|
PRESENTATION |
TEACHER’S ACTIVITY |
STUDENT’S ACTIVITY |
|
STEP 1 INTRODUCTION |
The teacher reviews the previous lesson on books of accounting concepts and conventions |
Students pay attention |
|
STEP 2 EXPLANATION |
She mentions the two books of account
|
Students pay attention and participates |
|
STEP 3 DEMONSTRATION |
She mentions and explains source documents |
Students pay attention and participate |
|
STEP 4 NOTE TAKING |
The teacher writes a summarized note on the board |
The students copy the note in their books |
NOTE
SOURCE DOCUMENTS AND SUBSIDIARY BOOKS
There are two books of accounts:
It should be noted that the two books are very necessary in the in the
recording of financial transactions. All transactions must pass through the
books of account. The principal book will be explained later but the
subsidiary book will be explained below.
SOURCE DOCUMENTS
All entries in the book must be supported by documentary evidence.
Therefore, the source documents provide detail information for the
preparation of the books.
The documents are:
1) INVOICE The invoice set out the full details of goods sent by the
suppliers to the buyer stating the quantity, price, discount given and terms
of payment.
2) CREDIT NOTE This is the document sent by the seller to the consumer
for reduction in the amount owed by him. It arises because some goods are
damaged and are not supplied as ordered. There has been an over charge
on some goods returned. To avoid confusion it must be printed in red. It
can be viewed from two perspectives:
a. Credit note received from suppliers if the credit note relate to goods
returned to the suppliers, it will be entered in the return outwards book and
then be debited to the suppliers account.
b. Credit note issued to customers This will be posted to the
returns inwards book and then credited to the customer’s account.
3) DEBIT NOTE This is the document sent by the seller to the buyer to
correct an under charge when the goods are not charge on the invoice. The
buyer can also use it to claim an over charge or for an item return to a
seller. Debit note is sent to customer to increase their indebtedness.
4) PETTY CASH VOUCHER(S) This covers payment credited to the petty
cash book.
5) STATEMENT OF ACCOUNTS This is a document sent by the seller to
the buyer at regular intervals, usually showing credit and debit to the
account and the balance due.
EVALUATION: 1. Mention the two books of account
CLASSWORK: As in evaluation
CONCLUSION: The teacher commends the students positively