HomeJSS 1Business Studies JSS 1Introduction to Book-Keeping – JSS1 Business Studies Lesson

Introduction to Book-Keeping – JSS1 Business Studies Lesson

Detailed Lesson Plan on Introduction to Book-Keeping

Subject: Business Studies

Class: JSS 1

Term: Second Term

Week: 10

Age: 10 – 12 years

Topic: Introduction to Book-Keeping

Sub-topic: Meaning, Importance, Ethics, and Practices of Book-Keeping

Duration: 40 minutes

Behavioural Objectives

By the end of the lesson, students should be able to:

  1. Define book-keeping and explain its importance.
  2. Identify and explain the essential qualities of a bookkeeper.
  3. List and describe common book-keeping practices.
  4. Explain book-keeping ethics and the double-entry system.
  5. Prepare a simple book-keeping record using the correct format.

Keywords

  • Book-Keeping – Recording financial transactions systematically.
  • Transaction – Any business activity involving money.
  • Folio – A reference number for accounts.
  • Debit (DR) – An entry for money received.
  • Credit (CR) – An entry for money paid.

Set Induction

The teacher asks students:

  • Have you ever saved money in a notebook or recorded how you spend money?
  • How do businesses keep track of their income and expenses?
  • What happens if a business does not record its financial transactions?

The teacher listens to their responses and introduces the topic.

Entry Behaviour

Students have seen their parents or shop owners record money transactions, such as when buying and selling goods.

Learning Resources and Materials

  • Sample cashbook or ledger
  • Whiteboard and marker
  • Pictures of book-keeping records
  • Chart showing book-keeping practices

Building Background/Connection to Prior Knowledge

Students have learned about business and money management. This lesson connects to their understanding of how businesses track their finances.

Embedded Core Skills

  • Critical thinking
  • Numeracy
  • Organization
  • Financial literacy

Learning Materials

  • Lagos State Scheme of Work
  • Business Studies Textbook for JSS1
  • Sample book-keeping records

Instructional Materials

  • Ledger books
  • Sample business transactions
  • Projector (if available)

Lesson Presentation

Step 1: Meaning of Book-Keeping

  • Book-keeping is the systematic recording of financial transactions in a business.
  • It involves keeping records of cash and credit transactions.
  • It helps businesses track income and expenses.

Examples of Book-Keeping Records:

  1. Cashbook
  2. Sales records
  3. Purchase records
  4. Bank statements
  5. Ledger
  6. Profit and loss accounts
  7. Payment vouchers
  8. Payroll records
  9. Petty cash book
  10. Receipts and invoices

Step 2: Importance of Book-Keeping

  1. Proof of transactions – It serves as evidence in case of disputes.
  2. Determines profit and loss – It helps businesses know if they are making a profit or loss.
  3. Financial control – It helps in managing expenses and income.
  4. Error detection – Mistakes in records can be identified easily.
  5. Tracks income and expenditure – Businesses can monitor how money is spent.
  6. Permanent record – It keeps details of past transactions for reference.

Step 3: Essential Qualities of a Bookkeeper

A bookkeeper must:

  1. Write clearly – Records must be neat and understandable.
  2. Be careful and accurate – Mistakes in calculations can lead to financial loss.
  3. Be computer literate – Most book-keeping records are now kept on computers.
  4. Be intelligent and focused – A good bookkeeper must pay attention to details.

Step 4: Common Book-Keeping Practices

  1. Writing “Naira and Kobo” at the top of the account.
  2. Using two zeros (00) in the Kobo column.
  3. Drawing double lines to show that accounts are balanced.
  4. Using ‘F’ to represent folio numbers.
  5. Using DR for Debit and CR for Credit.

Example of a Simple Book-Keeping Record:

Date Particulars Folio Amount (₦)
5 March Sales G 100 50,000.00

Step 5: Book-Keeping Ethics and Practices

  • Ethics in book-keeping refers to the principles that guide financial recording.
  • The double-entry system states:
    • Credit the giver’s account (money paid out).
    • Debit the receiver’s account (money received).
    • Balance the account at the end of a period.

Class Activity Discussion: FAQs

  1. What is book-keeping?

    • Book-keeping is the systematic recording of financial transactions.

  2. Why is book-keeping important?

    • It helps businesses track income, expenses, and profit.

  3. Who is a bookkeeper?

    • A person responsible for recording business transactions.

  4. Mention two book-keeping records.

    • Cashbook and ledger.

  5. What are common book-keeping practices?

    • Use of “Naira and Kobo,” double ruling, and debit/credit entries.

  6. What does DR mean in book-keeping?

    • Debit (money received).

  7. What does CR mean in book-keeping?

    • Credit (money paid out).

  8. What is a ledger?

    • A book where transactions are recorded.

  9. Why should a bookkeeper be careful?

    • To avoid errors in financial records.

  10. What does the double-entry system mean?

  • Every debit entry must have a corresponding credit entry.

Evaluation

Fill in the blanks (choose the correct option: a, b, c, or d)

  1. Book-keeping is the recording of ____.
    a) Songs
    b) Financial transactions
    c) Letters
    d) Stories

  2. A bookkeeper must be ____.
    a) Careless
    b) Focused
    c) Lazy
    d) Forgetful

  3. One importance of book-keeping is ____.
    a) To waste money
    b) To lose transactions
    c) To track financial records
    d) To confuse customers

  4. The folio column is used to record ____.
    a) Dates
    b) Page numbers
    c) Money
    d) Sales items

  5. In book-keeping, “CR” stands for ____.
    a) Cash Record
    b) Credit
    c) Cash Refund
    d) Cash Reserve

  6. A business record of sales and expenses is called ____.
    a) A songbook
    b) A cashbook
    c) A storybook
    d) A game book

  7. The double-entry system states that ____.
    a) Every transaction has two sides
    b) Money should be hidden
    c) Debits are more than credits
    d) Only cash transactions should be recorded

  8. A good bookkeeper must be ____.
    a) Dishonest
    b) Accurate
    c) Forgetful
    d) Lazy

  9. The use of two zeros in book-keeping means ____.
    a) The account is not balanced
    b) The account is complete
    c) The business is bankrupt
    d) The transaction is wrong

  10. An example of a book-keeping record is ____.
    a) Petty cash book
    b) Storybook
    c) Songbook
    d) Notebook

Conclusion

  • The teacher summarizes the lesson.
  • The teacher goes around to mark students’ work and provide feedback.

The Importance of Monitoring and Controlling Chemicals for JSS 1 

Assignment

  1. What is book-keeping?
  2. State three essential qualities of a bookkeeper.
  3. Mention three common book-keeping practices.
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