The City School Senior Boys North Nazimabad SENIOR I & II (AUGUST TO DECEMBER 2011)

The City School Senior Boys North Nazimabad

SENIOR I & II

(AUGUST TO DECEMBER 2011)


TABLE OF CONTENTS

INTRODUCTION

LONG TERM GOALS

SHORT TERM GOALS

TIME LINE FOR THE TERM

TIME LINE OF THE TOPIC

BLOOMS TAXANOMY

INSTRUCTIONAL STRATEGIES

21ST CENTURY SKILLS

VIDEO

CHALLENGES AND SOLUTION

RESOURCES

ACKNOWLEDGEMENT

CONCLUSION

QUTATION

THANK YOU


FINAL ACCOUNTS OF SOLE TRADER


To achieve and promote the highest professional, ethical and educational standards in accountancy by using 21st century

approaches.


BY APPLYING 21ST CENTURY SKILLS

Students will be able to select analyze and order information in written, numerical and diagrammatic form.

Present appropriate information in an accepted accounting form.

Apply knowledge and information to various accounting situations and problems.

Demonstrate understanding of knowledge through numeracy, literacy, presentation and comprehension.


JOURNAL ENTRIES

TRIAL BALANCE

FINAL ACCOUNTS

BOOKS OF PRIME ENTRY

ACCOUNTING FOR BAD DEBTS

TIME LINE FOR FIRST TERM

3 WEEKS

3 WEEKS

2 WEEKS

4 WEEKS

2 WEEKS

REMEMBERING

UNDERSTANDING

APPLYING AND ANALYSING

EVALUATING AND CREATING


LEDGER ACCOUNTS

TRIAL BALANCE

INCOME STATEMENT AND BALANCE SHEET

2 WEEKS

1 WEEK

2 WEEKS

FINAL ACCOUNTS OF SOLE TRADER

REMEMBERING AND UNDERSTANDING

APPLYING AND ANALYSING

EVALUATING AND CREATING


BLOOMS TAXANOMY OF LEARNING




SKILLS DEVELOPED ACTIVITY

REMEMBERING Multiple Choice Questions (MCQ’S) From Previous Topic.

UNDERSTANDINGExplaining Importance Of Trial Balance in the preparation of Final Accounts.

APPLYINGFinal Accounts of a company will be shown to highlight its importance for various stake holders.

ANALYSINGQuestion will be given in the form of hand out to analyze their understanding of the topic.


EVALUATINGPast papers questions will be given to students to evaluate their skills.

CREATINGStudents will be given problems and they will prepare final accounts by themselves.


NOTE: STUDENTS WILL BE MARKED ON THEIR CLASS WORKS


A) Goods for re-sale are bought for cash.

What are the entries in the books of the purchaser?

account debited

account credited

A

B

C

D

cash

cash

purchases

supplier

purchases

supplier

cash

cash

B) A firm has received the following business documents from X, a supplier.

$

October 5 invoice 650


October 12 credit note

150


November 4 invoice 790

C) A business purchases goods on credit for $800, less 25 % trade discount, with a cash discount of 5 % if payment is received in full within 28 days.

How much will the business pay if it settles within 28 days?

A $560 B $570 C $600 D $760



3. Following information is being provided by Mr.Stone for the year ended 31st december 2003 . TRIAL BALANCE

PARTICULARS DEBIT CREDIT MACHINERY 500,000 LAND 200,000 BUILDING 50,000 EQUIPMENT 80,000 DEBTORS 26,000 STOCK (OPENING) 82,000 CASH 40,000 BANK 500,000 PREPAID RENT 75,000 SUPPLIES 9,000 PURCHASES 69,000 WAGES EXPENSE 8,000 CARRIAGE INWARDS 4,000 CARRIAGE OUTWARDS 60,000 DISCOUNT ALLOWED 7,000 SALARY EXPENSE 40,000 ELECTRICITY EXPENSE 55,000 OFFICE EXPENSE 78,000 ADMINISTRATION EXPENSE 96,000 ADVERTISEMENT EXPENSE 23,000 CAPITAL 600,000 SALES 1,100,000 CREDITORS 300,000 DISCOUNT RECEIVED 2,000

TOTAL 2,002,000 2,002,000

Closing Stock 50,000/- REQUIRED PREPARE INCOME STATEMENT FOR THE YEAR ENDED 31st DECEMBER 2003.


TERM EXAM AVG TERM EXAM AVG TERM EXAM AVGMARKS 100 100 100 100 100 100 100 100 100 500 100NAME

A 55 60 58 36 60 48 30 24 27 215 43 EB 65 70 68 32 67 50 66 48 57 272 54 DC 95 95 95 95 95 95 95 95 95 453 91 A*D 51 57 54 28 43 36 39 41 40 202 40 EE 71 76 74 52 41 47 60 65 63 255 51 DF 71 75 73 96 81 89 66 74 70 357 71 BG 82 83 83 76 67 72 78 65 72 327 65 CH 71 75 73 60 59 60 45 57 51 269 54 DI 50 55 53 44 48 46 48 52 50 233 47 EJ 78 80 79 - - - 75 62 69 257 64 CK 60 62 61 44 39 42 49 48 49 218 44 EL 97 99 98 98 95 97 99 98 99 458 92 A*M 52 56 54 52 46 49 39 41 40 200 40 EN 69 72 71 28 48 38 46 43 45 234 47 E

GRADE

CONSOLIDATED RESULT SHEET

ENGLISH ACCOUNTS ECONOMICS TOTAL %



APPLICATION OF 21ST CENTURY SKILLS


APPLICATION OF 21ST CENTURY SKILLS

APPROACHESSKILLS DEVELOPED

CREATIVITY Giving them different problems in the form of case studies

INTELLECTUAL CURIOSITY

CRITICAL THINKING

Presenting them real life scenarios and company profiles

By comparing different Company or Sole Traders FINAL ACCOUNTS

ANALYSINGQuestion will be given in the form of hand out to analyze their understanding of the topic.

SELF DIRECTION By providing them handouts and Questionnaire to solve problems


5 Mr. Ian Chapel is the owner of Intel Computers and he is a sole trader. The following balances were extracted from his books on 31 December 2009. Purchases 270,000 Motor vehicles 50,000 Wages and salaries 30,000 Drawings 20,000 Debtors 20,000 Rent and rates paid 11,000 Cash 225,000 Return Inwards 10,000 Sundry expenses 11,000 Fixtures and equipment at cost 210,000 Stock (Opening) 6,500 Carriage inwards 4,000 Carriage outwards 3,500 Insurance 28,000 Discounts allowed 2,000 Sales 550,000 Return outwards 7,000 Creditors 39,500

Capital (At 1st January 2009) 250,000 Rental Income 18,000 Provision for depreciation [Motor vehicle] 3,000 Bank overdraft 4,500

Provision for depreciation [Fixture and equipment] 25,000

Discounts received 3,600 Provision for doubtful debts 400

901,000 901,000

Additional information

1 Stock at 31 December 2009 was valued at $41 000

2 At 31 December 2009 rates prepaid were $1500.

3 Wages and salaries of $ 2000 were accrued at 31 December 2009

4 A provision for doubtful debts of 5% of debtors at 31 December 2009 is to be created.

5 Fixtures and equipment are to be depreciated by 10% using reducing balance method

and motor vehicles by 20% on straight line basis.

6 Rent receivable not yet recorded $5000.

7 Insurance prepaid at the end of year $4000.

REQUIRED (a)Prepare the Trading and Profit and Loss Accounts of Mr. Ian Chapel for the year ended 31 December 2009. (b)Prepare the Balance Sheet of Mr. Ian Chapel as at 31 December 2009.



TO DEVELOP PRACTICAL APPROACH

BY TAKING STUDENTS TO A COMPANY’S ACCOUNTS DEPARTMENT

TO MAKE THEM PROFESSIONALLY COMPETENT

INTERNSHIP PROGRAMS FOR STUDENTS IN AN ACCOUNTS DEPARTMENT OF A FIRM.

INTEGRATION OF REAL LIFE ACCOUNTING TECHNIQUES

BY ARRANGING TRIPS TO SEMINARS OF PROFESSIONAL BODIES OF ACCOUNTANTS


SOFTWARES

MICROSOFT OFFICE

BOOKS

FRANK WOOD

PAST PAPERS

WEBSITES

www.cie.org.uk

www.youtube.com


I AM VERY THANKFUL TO MASTER TRAINERS

MS AMBREEN KHALID, MR SYED ZARYAB HUSSAIN AND LAB ASSTT. MR KAMRAN KHAN FOR PROVIDING

GUIDANCE AND FACILITATION.

INTEL MANAGEMENT

AND SPECIAL THANKS TO SIR SHAHID IQBAL (HEAD MASTER) FOR HIS ENCOURAGEMENT AND

SUPPORT.


CONCLUSION

I have come to the conclusion that after attending the Intel® Teach workshop I have somewhat “a grasp” on the modern teaching methodology. The overall perception of the integration of the 21st century teaching strategy has opened up a new horizon. Now, I feel more confident and computer literate and hope to incorporate these skills in my academics and teaching strategies.

Zafar Iqbal Principle of Accounts TeacherThe City School Senior Boys N.N.



THANK YOU

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The City School Senior Boys North Nazimabad SENIOR I & II (AUGUST TO DECEMBER 2011)

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