Lesson Notes By Weeks and Term - Senior Secondary 2

Term: 1^st Term

Week: 3

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Financial accounting

Topic:-       Manufacturing account III

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

1. Explain transfer pricing
2. Discuss the main objectives of the manufacturing process

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 manufacturing account	Students pay attention
STEP 2 EXPLANATION	She explains transfer pricing	Students pay attention and participates
STEP 3 DEMONSTRATION	She further discusses the objective of the manufacturing process	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

MANUFACTURING ACCOUNT

TRANSFER PRICING

In the trading account, the cost of production is charged to determine profit

on sales. The changing of cost of production of goods may be done in two

ways.

1. Actual factory cost
2. Current market values

When goods manufactured are charged at the current market value to the

trading account, the main objective is to obtain profit on the manufacturing

process. The manufacturing accounts will then have to show a balance

which represents a profit or loss on production and this is transferred to

profit and loss account.

 

EVALUATION:    1. Explain the meaning of transfer pricing

2. What is the main objective of the manufacturing process?

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively