Lesson Plan

• Describe what incomplete records are and when statements of affairs are required.
• Apply the procedure to gather information and classify assets and liabilities.
• Calculate net worth using the statement of affairs format.
• Prepare both opening and closing statements of affairs from incomplete records.
• Evaluate the accuracy of the statement by comparing it with trial‑balance figures.

• Projector or interactive whiteboard
• Printed statement of affairs templates (opening & closing)
• Sample incomplete records handout (cash book, bank statement, invoices)
• Calculator
• Whiteboard and markers
• Worksheets for practice calculations

Begin with a quick poll: “When might a business not have full double‑entry records?” Connect this to students’ prior experience with cash‑book exercises. Explain that today they will learn how to produce reliable opening and closing statements of affairs, and they will be able to demonstrate this by completing a full statement from limited data.

1. Do‑Now (5 min): List situations that lead to incomplete records; share responses.
2. Mini‑lecture (10 min): Purpose of opening/closing statements of affairs and the five‑step procedure.
3. Guided practice (15 min): Demonstrate gathering information and classifying assets/liabilities using a sample handout; calculate net worth together.
4. Group activity (15 min): In pairs, prepare an opening statement of affairs from provided data; peer‑check using a checklist.
5. Individual task (10 min): Complete a closing statement of affairs using the worked example; teacher circulates for support.
6. Summary & Q&A (5 min): Review key points, answer questions, and confirm success criteria.

Recap the steps from gathering information to calculating net worth and completing the statements. Ask students to write one exit ticket: “What is the most common error when preparing a statement of affairs?” Assign homework to complete a new set of incomplete records and produce both opening and closing statements.