Bank Reconciliation Lesson Plan

Lesson Plan The Bank Reconciliation Statement General Objectives Students go away1. Account for differences between the change mass and rim statement balances.2. Construct a desire rapprochement statement using the adjusted trial balance.Specific Objectives Students provide Cognitive1. Demonstrate k straightawayledge of the concept of reconciling bank statements.2. Explain the reasons as to why your notes book and bank statement may non balance.Psychomotor 1. Construct a bank reconciliation statement using the adjusted cash book balance.Affective 1.Value the importance of preparing a bank reconciliation statement.Prior Knowledge Students have a clear understanding of 1. The two column cash book.Lesson 1 Bank Reconciliation Statement TIME(minutes) ELEMENTS METHOD nub TEACHER ACTIVITIES STUDENTS ACTIVITIES TEACHER LEARNING RESOURCES EVALUATION Set Induction/Introduction - Scenario -Discussion -Listening- Responding Formative inquisitive Objectives Sharing the Specif ic Objectives Presentation 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 Summary 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 Summary 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 vigilant worksheet -Observation Working Whiteboard- Whiteboard markers Summative Conclusion Correction of exercise - Providing feedbac k -Providing Answers Students work - Closure - The teacher will review and recap the lesson and then depose the class. Dismissing of students. - - - Lesson Notes Set InductionEdward Cullen from the movie Twilight has a bank account and money to manage. You will learn to check his monthly account statement and help him desexualise 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 admit 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 amount of money go away in the account per banks records. The check book balance is the amount of money left in the account per depositors records. in all banks use computers to cram bank statements. Data about all checks paid and all deposits received are entered into the computer in order to keep the depositors account up-to-date. A ll 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 used 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 creditPresentation 2The teacher gives a brief explanation 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 AMOUNT DATE PARTICULARS AMOUNT 2011 $ 2011 $ regrets 1 end b/f 250 fall 5 J. Gordon 65 Dec 20 P. Thomas 100 Dec 27 K. Hughes 175 Dec 28 D. Jones 190 Dec 31 Balance c/d 300 540 540 2012 Jan 1 Balance b/d 300 Bank Statement 2011 Particulars Withdrawals Deposits Balance $ $ $ Dec 1 Balance b/f 250 Dec 8 10625 65 185 Dec 21 Deposit 100 285 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 paying 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 charged us $50 for keeping our bank account and all the work connected with it. Instead of notifying us they have simply interpreted out the money out of our bank account. The balance in our cash book was $300, whereas our bank statement shows a balance of $320. To prove that although the balances diff er they send packing 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 Add 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 cartridge clip the teacher would walk around the classroom observing the students responses and offering assistance were needed.