Lesson Plan

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Lesson Plan
Grade: Date: 18/01/2026
Subject: Accounting
Lesson Topic: understand that statements of financial position record assets and liabilities on a specified date
Learning Objective/s:
  • Describe the purpose of a Statement of Financial Position for a sole trader.
  • Apply the accounting equation to classify assets, liabilities and owner’s equity on a specific date.
  • Prepare a balanced Statement of Financial Position using given financial data.
  • Identify and correct common errors that cause imbalances in the statement.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Printed worksheet with a blank Statement of Financial Position template
  • Calculator for each student
  • Handout of the John bakery example data
  • Laptop with spreadsheet software (optional)
 Introduction:
Begin with a quick question: “If you could take a snapshot of a business’s health, what would you need to see?” Connect this to the prior lesson on the accounting equation. Explain that today’s success criteria are to create a correct Statement of Financial Position and to spot any imbalance errors.
Lesson Structure:
  1. Do‑now (5'): Students list examples of assets and liabilities from memory on a sticky note (checks prior knowledge).
  2. Mini‑lecture (10'): Explain the purpose of a Statement of Financial Position, the importance of the “as at” date, and review the accounting equation.
  3. Guided practice (15'): Walk through the 6‑step preparation process using the John bakery example; fill a template on the board.
  4. Independent activity (15'): Learners complete a blank statement for the 30 June 2025 data set in their worksheets.
  5. Error‑checking (10'): In pairs, compare totals, locate the discrepancy, and discuss the common mistakes listed.
  6. Exit ticket (5'): Each student writes one key step to ensure the statement balances.
Conclusion:
Recap the six preparation steps and highlight how the accounting equation guarantees balance. Collect exit tickets as a quick formative check. For homework, assign students to prepare a Statement of Financial Position for a fictional sole‑trader using a new data set provided on the class portal.