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Ch 3: Mechanics of the Accounting Cycle Lesson Plans

About This Chapter

The Mechanics of the Accounting Cycle chapter of this course is designed to help you plan and teach accounting equations and formulas in your classroom. The video lessons, quizzes and transcripts can easily be adapted to provide your lesson plans with engaging and dynamic educational content. Make planning your course easier by using our syllabus as a guide.

Weekly Syllabus

Below is a sample breakdown of the Mechanics of the Accounting Cycle chapter into a 5-day school week. Based on the pace of your course, you may need to adapt the lesson plan to fit your needs.

DayTopicsKey Terms and Concepts Covered
Monday Equations and source documents Definition of the accounting equation and how it is used, assets, liabilities, owner's equity, source documents, accounting journal, and journal entry
Tuesday Using the accounting equation How to add revenues, dividends and expenses to the equation, and how to use the equation to examine business transactions
Wednesday Essential terminology Types of ledgers, categories of accounts in a chart of accounts, liability, current and noncurrent liabilities, current and noncurrent assets, owner's capital, expense, and revenue
Thursday Comprehension and tracking Knowing the difference between credits and debits, T-accounts, double-entry accounting, a book of original entry, journal, transactions, and recording transactions
Friday Accounting calculations and statements Return on assets (ROA), balance sheet, income statements, double entry accounting method, general ledger, post, trial balance, financial statement ratios, working capital, quick ratios, current ratios, earnings per share (EPS), return on equity, and debt-to-assets

11 Lessons in Chapter 3: Mechanics of the Accounting Cycle Lesson Plans
The Accounting Equation: Definition & Components

1. The Accounting Equation: Definition & Components

There are a few basic building blocks that form the foundation of accounting. One of those is the accounting equation. In this lesson, you will learn what makes up the accounting equation, its purpose, and how it works.

Source Documents in Accounting: Definition and Purpose

2. Source Documents in Accounting: Definition and Purpose

Do you know what role source documents play in accounting? If not, don't worry; by the end of this lesson, you will. You will also learn the definition of source documents and see some common examples of source documents.

Using the Accounting Equation: Adding Revenues, Expenses & Dividends

3. Using the Accounting Equation: Adding Revenues, Expenses & Dividends

Accounting is built on a solid foundation called the basic accounting equation. In this lesson, you're going to learn what happens when you add revenue, expenses, and dividends to the basic equation.

What Are Accounts? - Definition and Use to Categorize Transactions

4. What Are Accounts? - Definition and Use to Categorize Transactions

Everything in this world is made up of parts. Accounting is no different. The numerous parts that exist in the accounting world are called accounts. In this lesson, you will learn what accounts are, how they are classified, and what they do.

Ledgers and Chart of Accounts: Definitions and Use

5. Ledgers and Chart of Accounts: Definitions and Use

There are several key concepts that are important to learn when it comes to accounting. In this lesson, you will learn about the ledger and the chart of accounts.

Understanding Debits and Credits in Accounting

6. Understanding Debits and Credits in Accounting

Debits and credits are major players in the accounting world. In this lesson, you will learn just what debits and credits are and why they are important to accounting.

Recording Business Transactions in Accounting

7. Recording Business Transactions in Accounting

Recording a transaction is the first step in the accounting cycle. In this lesson, you will learn why transactions are recorded, where they are recorded, and how they are recorded.

Using the Accounting Equation: Analyzing Business Transactions

8. Using the Accounting Equation: Analyzing Business Transactions

Transaction analysis can be a tricky task. In this lesson, you will learn what transaction analysis is, how to analyze a transaction, and how it is related to the accounting equation.

Computing and Interpreting Return on Assets

9. Computing and Interpreting Return on Assets

There are a number of ratios that can be calculated by information found on the financial statements. In this lesson, you will learn about return on assets.

Journal Entries and Trial Balance in Accounting

10. Journal Entries and Trial Balance in Accounting

There are several concepts that make up an accounting cycle. In this lesson, you will learn about two of those - journal entries and the trial balance.

Financial Statement Ratios: Determining Company Performance

11. Financial Statement Ratios: Determining Company Performance

Have you ever wondered why the financial statements are so important to a company? In this lesson, you will learn about several financial statement ratios and how they help determine company performance.

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