Bank Reconciliation Lesson Plan

Lesson Plan The Bank Reconciliation Statement frequent Objectives Students impart1. Account for deviances between the interchange disk and affirm direction equalizers.2. Construct a edgeing company reconciliation relation using the modify trial balance.Specific Objectives Students bequeath Cognitive1. Demonstrate knowledge of the concept of accommodative border educational activitys.2. Explain the reasons as to why your cash give-and-take and bank statement may non balance.Psychomotor 1. Construct a bank reconciliation statement using the adjusted cash obligate balance. affective 1.Value the importance of preparing a bank reconciliation statement.Prior Knowledge Students dedicate a clear understanding of 1. The two column cash book.Lesson 1 Bank Reconciliation Statement TIME(minutes) ELEMENTS METHOD CONTENT TEACHER ACTIVITIES evolveerS ACTIVITIES TEACHER LEARNING RESOURCES EVALUATION Set Induction/ unveiling - Scenario -Discussion -Listening- Responding F ormative skeptical Objectives Sharing the Specific Objectives initiation 1 - Reasons for the difference in the bank statement and our cash book. -Questioning- Providing information-Explaining -Listening- Responding Chart- Whiteboard- Whiteboard markers Formative Questioning sum-up 1 Review of Presentation 1 - Questioning Responding Formative Questioning Presentation 2 - Definition of terms -Providing information-Explaining -Listening- Responding Chart- Whiteboard- Whiteboard markers Formative Questioning succinct 2 Review of Presentation 2 - -Questioning Responding Formative Questioning Presentation 3 Illustration of an example -Providing information-Explaining -Listening- Responding Chart-Whiteboard- Whiteboard markers Formative Questioning Summary 3 Review of Presentation 3 - -Questioning Responding Formative Questioning Evaluation - Students will complete arrive atd breaksheet -Observation Working Whiteboard- Whiteboard markers Summative Conclusion Correction of cultivate - Providing feedback -Providing Answers Students work - Closure - The teacher will suss come out and recap the lesson and then dismiss the class. Dis miss of schoolchilds. - - - Lesson Notes Set InductionEdward Cullen from the movie Twilight has a bank chronicle and silver to manage. You will learn to check his periodic visor statement and help him make sure his bank balance is correct. This will help him to make sure that he has enough money for his date with Bella this weekend. This will help you in your ingest life with your own banking responsibilities. A bank statement is a detailed record of the checking account from the bank. The bank statement balance is the meter of money left in the account per banks records. The check book balance is the amount of money left in the account per depositors records.All banks use computers to prepare bank statements. Data about all checks paid and all deposits legitimate are entered into the computer in order to keep the depositors account up-to-date. All of the data that is stored in the computer is printed out on the bank statement. There will usually be differences between the check book balance and the bank statement balance. In this lesson, you will begin to learn how to explain these differences by preparing a bank reconciliation statement. This statement is utilise to bring the check book and the bank statement balances into agreement.Presentation 1The teacher will now explain the reasons for the difference in the bank statement and the cash book. Which are as followsUn-presented chequesDishonoured chequesDirect debitsStanding ordersBank giro convictionPresentation 2The teacher gives a brief exposition on the meaning of these items, and why they may cause the bank statement and bank account balances to differ.Presentation 3The teacher demonstrates a scenario where the cash book bank balance and the bank statement balance differ.CASH BOOK DATE PARTICULARS join DATE PARTICULARS keep down 2011 $ 2011 $ declination 1 oddment b/f 250 declination 5 J. Gordon 65 decline 20 P. Thomas coulomb Dec 27 K. Hughes 175 Dec 28 D. Jones 190 Dec 31 difference c/d 300 540 540 2012 Jan 1 Balance b/d 300 Bank Statement 2011 Particulars Withdrawals stay puts Balance $ $ $ Dec 1 Balance b/f 250 Dec 8 10625 65 185 Dec 21 Deposit coke 285 Dec 28 Deposit 190 475 Dec 29 10626 175 300 Dec 30 Bank Giro credit P. Smith 70 370 Dec 31 Bank charges 50 320 It is now possible to see that the two items not shown in our cash book are Bank Giro credit P.Smith $70 P. Smith had paid us $70, but instead of stipendiary us by cheque he paid directly into the bank. We did not know of this until we received the bank statement. Bank charges $50 The bank had supercharged us $50 for keeping our bank account and all the work connected with it. Instead of notifying us they have simply taken out the money out of our bank account. The balance i n our cash book was $300, whereas our bank statement shows a balance of $320. To prove that although the balances differ they back tooth be reconciled with each other, a bank reconciliation statement will be drawn up.As we have now identified the items missing from our cash book we can now complete writing it up as follows. Bank Reconciliation Statement as at 31 December 2011 Balance as per cash book $300 summarise Bank Giro credit $70 $370 Less Bank charges $50 Balance as per bank statement $320 The completed cash book would now look as followsCASH BOOK DATE PARTICULARS AMOUNT DATE PARTICULARS AMOUNT 2011 $ 2011 $Dec 1 Balance b/f 250 Dec 5 J. Gordon 65 Dec 20 P. Thomas 100 Dec 27 K. Hughes 175 Dec 28 D. Jones 190 Dec 31 Bank charges 50 Dec 30 P. Smith 70 Dec 31 Balance c/d 320 610 610 2012 Jan 1 Balance b/d 320 Evaluation The teacher would present each student with a practise exercise on prepaid expense accounts scenarios. During this epoch the teacher would walk around the classroom observing the students responses and offering assistance were needed.