Lesson Plan

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Lesson Plan
Grade: Date: 18/01/2026
Subject: Accounting
Lesson Topic: adjust a profit or loss for an accounting period after the correction of errors
Learning Objective/s:
  • Identify common types of post‑trial‑balance errors and the accounts they affect.
  • Calculate the impact of an error on profit or loss.
  • Prepare and post correcting journal entries and adjust the income statement accordingly.
  • Explain how adjustments are reflected in retained earnings and notes to the accounts.
Materials Needed:
  • Projector or interactive whiteboard
  • Printed worksheet with error scenarios
  • Sample trial balance and income statement handouts
  • Calculator
  • Accounting software demo (optional)
 Introduction:
Begin with a quick recall: what steps do we follow to prepare a trial balance? Review how errors can distort profit figures, linking to prior lessons on revenue and expense recognition. Today students will learn the systematic process for adjusting profit or loss after an error is discovered, with success measured by correctly completing a correcting journal entry.
Lesson Structure:
  1. Do‑now (5’) – Students list types of errors from memory on sticky notes; teacher checks understanding.
  2. Mini‑lecture (10’) – Explain impact of each error type on profit/loss using the summary table.
  3. Guided practice (15’) – Work through the omitted sales example; calculate adjusted profit and draft the journal entry.
  4. Paired activity (15’) – Given error scenarios, learners determine the adjustment required and create correcting entries.
  5. Whole‑class debrief (10’) – Share solutions, discuss presentation in financial statements and note disclosures.
  6. Exit ticket (5’) – Write one key step for adjusting profit after an error and why it matters.
Conclusion:
Summarise the four‑step correction process and emphasise the importance of accurate profit reporting. For the exit ticket, students note the single most critical adjustment step and its significance. Assign homework: complete a worksheet that requires identifying errors and preparing correcting entries for a new trial balance.