this is an ict lesson plan related on topic accounting standards

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ICT LESSON PLAN

2. Name of the Teacher : Deepthi.S Standard : XI
Name of the School : GGHSS. Malayinkil Strength : 60
Subject : Accountancy Age : 16years
Unit : Financial Statements Duration : 40 minutes
Topic : Accounting Standards Date : 08/09/2015
Content Outline ACCOUNTING STANDARDS
Content Analysis
Terms
Facts
Concept
Pre- requisites
Curricular objectives
Accounting standards, ICAI, ASB
 Accounting standards is set of accounting policies
 Standards conform to applicable laws, customs, usages and business environment.
 Accounting standards is to harmonize the diversified policies to make the system more
useful and effective.
 Standards are formulated by the recognized expert accountancy body relating to various
aspect.
An accounting standard is a selected set of accounting policies or broad guidelines regarding the
principles and methods to be chosen out of several alternatives
Students should have a previous knowledge about measurement, treatment and disclosure of
accounting transactions and events.
To develop an idea about various accounting standards and enable them the objectives of those
standards and asses its importance in an organization through brain storming, group discussion,
general discussion etc.
LESSON PLAN

3. Teaching-Learning strategies
Teaching-Learning Resources
Reference
 Brain storming
 Group Discussion
 General Discussion
 Usual class room aids like blackboard and chalk.
 Slide showing meaning accounting standards
 Slide showing the list of accounting standards
 Activity sheet.
Plus one SCERT textbook
P.K. Lazar, Accounting1, Excel Publications.

4. PHASE I : INTRODUCTORY PHASE
Activity (General Discussion)
After the usual class procedures teacher starts the class by telling a story.
Mr. Jacob Mathews is a German citizen who operating large scales business all over the world except
India. He has a wish to start his operations in India. He appoints one of you as an accountant. Both Jacob
and you were unaware about the standards that should be kept in mind while preparing books of
account.
Teacher gives the following questions for initiating the discussion.
Lead points
o Can you help them?
o What is accounting standards?
o Is it necessary to follow those standards?
From the above discussion learner arrive at conclusion that “there should be standardized accounting
policies and practices with a view to eliminate to the extent possible, the non-comparability of
financial statements.”
Students listen to the story.
Students actively respond about the lead
points.
Students derived to the conclusion.
CLASS ROOM INTERACTION PROCEDURE/ACTIVITY PUPIL’SRESPONSE

5. Concept to be consolidated (PPT)

6. PHASE II: DEVELOPMENTAL STAGE
Activity: (Group Discussion)
Teacher divides the class into groups and ask them to find out the objectives of accounting standards
Concepts to be consolidated (PPT)
Students are actively participated in the
group discussion.

7. Activity: 2 (Group Discussion)
Teacher divides the class into groups and ask them to find out major areas that where accounting
standards should be framed
Teacher give following hints to students
 Depreciation
 Valuation of inventories’etc…
Concept to be consolidated
LIST OF ACCOUNTING STANDARDS
IAS 1 - DISCLOSURE OF ACCOUNITNG POLICIES
IAS 2 - VALUATION OF INVENTORIES
IAS 3 - CASH FLOW STATEMENTS
IAS 4 - CONTIGENTS AND EVENTS OCCURING AFTER BALANCE SHEET DATE
IAS 5 - NET PROFIT OR LOSS FOR THE PERIOD, PRIOR ITEMS AND CHANGE
IN ACCOUNITNG POLICIES
IAS 6 - DEPRECIATION ACCOUNTING
IAS 7 - CONSTRUCTION CONTRACTS
IAS 8 - ACCOUNTING FOR RESEARCH AND DEVELOPMENT( NOW IT WAS
MERGED WITH IAS 26
IAS 9 - REVENUE RECOGNITION
IAS 10 - ACCOUNTING FOR FIXED ASSETS
IAS 11 - THE EFFECTS OF CHANGES IN FOREIGN EXCHANGE RATE
Students are actively participated in the
group discussion.

9. PHASE III : CONCLUDING ACTIVITY
Teacher makes 29 lots consisting number from 1-to 29 and randomly select students to pick up the lots.
The students should answer that which accounting standard belongs to the number they had picked.
Review Questions
 What do you means by accounting standards
 What are the objectives of accounting standards
 List out the accounting standards issued by the ASB
Follow up Activity
Prepare an assignment on topic “Accounting Standards”
Except 2 students, all others were
correctly answer to the question