Lesson Plan

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Lesson Plan
Grade: Date: 17/01/2026
Subject: Accounting
Lesson Topic: prepare income and expenditure accounts and statements of financial position
Learning Objective/s:
  • Explain why non‑profit clubs prepare an Income and Expenditure Account and a Statement of Financial Position.
  • Prepare a correct Income and Expenditure Account from trial‑balance figures.
  • Prepare a correct Statement of Financial Position from trial‑balance figures.
  • Describe the relationship between the surplus/deficit and the net assets line.
Materials Needed:
  • Projector and screen
  • Whiteboard and markers
  • Printed worksheet with blank Income & Expenditure and Statement of Financial Position templates
  • Sample journal entries handout (Science Club)
  • Calculators
  • Student notebooks
 Introduction:
Begin with a quick question: “How does a school club know if it is financially healthy?” Link this to students’ prior knowledge of profit versus surplus in non‑profit organisations. State that by the end of the lesson they will be able to produce both financial statements and explain how they connect.
Lesson Structure:
  1. Do‑now (5’) – short quiz on profit vs surplus for clubs.
  2. Mini‑lecture (10’) – purpose of the two statements, key concepts, and format.
  3. Guided practice (15’) – work through the Science Club example together, filling in the Income & Expenditure Account and the Statement of Financial Position.
  4. Independent activity (10’) – students complete the Drama Society exercise, producing both statements from provided data.
  5. Check for understanding (5’) – volunteers share answers; discuss the transfer of surplus to net assets.
Conclusion:
Recap the steps for preparing each statement and the link between them. Ask students to write one sentence on an exit ticket explaining how the surplus affects the net assets line. For homework, assign a new club scenario for which they must produce the two statements independently.