Introduction
https://www.accounting.com/resources/basic-accounting-terms/
This topic introduces and explains basic accounting terms, principles, acronyms, and abbreviations. It was developed for students, entrepreneurs, and anyone else looking to brush up on essential concepts. This serves as an easy-to-use resource for developing the vocabulary used by accounting professionals.
Task
Students must identify, learn and understand the definition of Accounting, learn the basics of accounting terms, and the basic equation of Accounting.
Process
Instruction:
1. Each students should write the definition of Accounting.
2. Write the basic accounting equation.
3. Define basic accounting terms such as debit, credit, asset, liabilities, equity, balance sheet, income statement, revenue, accounts payable, accounts receivable, accounting period, accruals, capital, chart of accounts, cash flow, depreciation, general ledger, trial balance, gross profit, net profit, and inventory.
Evaluation
| Basis of Evaluation | 1 | 2 | 3 |
| Understands the lesson well | |||
| Increase awareness on the subject and develop areas of growth | |||
| Show perseverance and commitment to learn |
1- one star, needs improvement
2- two stars, satisfactory
3- three stars, excellent
Conclusion
In conclusion, the students learned about basic accounting, basic accounting equation and the accounting terms. This enable students to understand the significance of accounting. It's not only important for businesses in terms of record keeping and general business management, but also for legal reasons and tax purposes.
Teacher Page
Intro: This topic introduces and explains basic accounting terms, principles, acronyms, and abbreviations. It was developed for students, entrepreneurs, and anyone else looking to brush up on essential concepts. This serves as an easy-to-use resource for developing the vocabulary used by accounting professionals.
Task: Students must identify, learn and understand the definition of Accounting, learn the basics of accounting terms, and the basic equation of Accounting.
Instruction:
1. Each students should write the definition of Accounting.
2. Write the basic accounting equation.
3. Define basic accounting terms such as debit, credit, asset, liabilities, equity, balance sheet, income statement, revenue, accounts payable, accounts receivable, accounting period, accruals, capital, chart of accounts, cash flow, depreciation, general ledger, trial balance, gross profit, net profit, and inventory.
(Student Evaluation on the subject)
In conclusion, the students learned about basic accounting, basic accounting equation and the accounting terms. This enable students to understand the significance of accounting. It's not only important for businesses in terms of record keeping and general business management, but also for legal reasons and tax purposes.