Sample Lesson Plan
Eleventh Grade: One Class Period (45 minutes)
Topic: Preparing an Income Statement
RATIONALE OBJECTIVES LEARNER ACTIVITIES NOTES
Rationale: To provide students who are interested in accounting procedures, with the proper way to prepare and Income Statement. The purpose of an Income Statement is to show a company's net profit or net loss for a fiscal period.
Objectives: Following completion of a Balance Sheet lesson and a step-by-step procedure lecture on an income statement, 11th grade students will be able to demonstrate the proper way to prepare an income statement with 100% accuracy.
Students will be able to:
Properly set up the heading of an Income Statement.
Calculate a company's Gross Profit, Operating Expenses, Income from Operation before tax, and Net Income.
Determine if a company's net income or net loss during a fiscal period.
Create their own Income Statement for a mock company.
5 minutes Explaining how to set up the proper heading
2 minutes Calculating the Gross Sales section
2 minutes Calculating the Cost of Goods Sold section
1 minute Calculating Gross Profit section
10 minutes Calculating Company's Operating Expenses
7 minutes Prepare the Income from Operations section
2 minutes Calculate Income Before Taxes
2 minutes Find Federal Income Taxes
3 minute Calculate Net Income section
11 minutes Give remainder of class for students to work on
their own Income Statement, anyone who doesn't
finish has it as homework.