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Grade: Senior
Subject: other

#1703. Income Statement

other, level: Senior
Posted Tue Apr 25 09:47:50 PDT 2000 by Erik J. Marhefka (
Indiana University Of Pennsylvania, Indiana, USA
Materials Required: Pencil
Activity Time: 45 minutes
Concepts Taught: Preparing an income statement

Sample Lesson Plan

Eleventh Grade: One Class Period (45 minutes)
Topic: Preparing an Income Statement

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.


Time Activity
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.