NORTH CENTRAL MINDANAO COLLEGE, INC.

Maranding, Lala, Lanao del Norte

Tel. No. (063) – 227-8004
www.ncmc.edu.ph

Grade
School NORTH CENTRAL MINDANAO COLLEGE, INC. Grade 12
Level
DAILY LESSON
LOG Marc Bernelle Buhale Learning
Teacher Area Accounting 2

2:30-3:30/7:30-8:30
Teaching Date and September 4-8, 2023 1st Semester 1st Quarter
ABM Quarter
Time Week 1
MTW/F

MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY

1. OBJECTIVE:

The learner demonstrates an understanding of account titles under the assets, liabilities, and capital accounts of the Statement of Financial Position, namely,
A. Content Standard cash, receivables, inventories, prepaid expenses, property, plant and equipment, payables, accrued expenses, unearned income, long-term liabilities and
capital that will equip him/her in the preparation of the SFP using the report form and account form.

The learners shall be able to solve exercises and problems that require preparation of an SFP for a single proprietorship with proper classification of accounts
B. Performance Standard
as current and noncurrent using the report form and the account form.

This activity aims to target the

following DepEd competency:
Identify the elements of a Statement
This activity aims to target the of Financial Position and describe
This activity aims to target the
following DepEd competency: each of them
following DepEd competency:
Prepare an SFP using the report (ABM_FABM12-Ia-b-1).
Identify the elements of a
C. Learning Competencies Buwan ng Wika Culmination form and the account form with This activity aims to target the
Statement of Financial Position
proper classification of following DepEd competency:
and describe each of them
items as current and noncurrent Prepare an SFP using the report form
(ABM_FABM12-Ia-b-1).
(ABM_FABM12-Ia-b-4). and the account form with proper
classification of
items as current and noncurrent
(ABM_FABM12-Ia-b-4).
 Introduction to Statement of Preparation of a Statement of
II.CONTENT
Financial Position Buwan ng Wika Culmination Financial Position

III.LEARNING RESOURCES Quipper

A. References Quipper Quipper

1. Teacher's Guide pages

Buwan ng Wika Culmination
2. Learner's Materials

3. Textbook pages Internet Internet

Internet
4. Additional Materials from LR

B. Other Learning Resources Internet Buwan ng Wika Culmination Internet Internet

V.PROCEDURE

A. Reviewing previous lessons or Gathering Ideas from students

presenting the new lesson. Buwan ng Wika Culmination Review of the past lesson CL
about the topic.
1. What are the uses of a
Statement of Financial Position?
2. What are the elements of the
Statement of Financial Position? What is the ratio of obligations
B. Establishing a purpose for the lesson 3. What are the current and Buwan ng Wika Culmination against owner's equity?
CL
non-current elements of a
Statement of Financial Position?

C. Presenting examples/instances of the 1. What are the uses of a Buwan ng Wika Culmination . CL
new lesson Statement of Financial Position? 1. Search for an SFP published on
-It is used by the management the internet. How were the
and stakeholders of the elements (assets, liabilities, and
business, equity) arranged?
including creditors/banks and
future investors. Stockholders
and prospective investors use 2. Are there other ways to present
it to make investment decisions. a Statement of Financial Position
Management uses it to make besides the one you found? If
decisions based on the there are, provide the related
business's financial health. details or description.
Creditors use it to determine if
a company is stable and
 financially qualified to secure a
loan.

2. What are the elements of the

Statement of Financial Position?
-Assets, Liabilities, and Equity.
Assets are owned by a company
and are used to produce
products/services in order to
generate profits. Liabilities are
debts that a company owes to
other entities. Equity is what is
left when liabilities are 3. What are the advantages of
subtracted from the assets. each SFP form?

3. What are the current and

non-current elements of a
Statement of Financial Position?
-A Statement of Financial
Position shows the current
assets, non-current assets,
current
liabilities, and non-current
liabilities. Current elements are
usually dealt with within a year,
while non-current elements are
usually dealt with for more than
a year.
D. Discussing new concepts and Statement of Financial Position Buwan ng Wika Culmination 1. Why do Statements of Financial CL
Practicing New Skills #1 -shows a business's financial Position for sole proprietorships
condition as of a given period only have one
-shows what a business owns entry in the owner’s equity
and what it owes to its creditors section?
and owners A sole proprietorship business only
-records a company's assets, has a single owner. Thus, the
liabilities, and equity owner's equity belongs
to the single owner of the
Elements of Statement of company. It is different from
Financial Position corporations, where the equity
Current Assets may be divided among
-easy to liquidate and are used shareholders.
within a year
 -Examples: cash, accounts 2. What is the difference between
receivable, cash equivalents, the report form and the account
and inventories form of a
Non-current Assets Statement of Financial Position?
-difficult to dispose of and can The only difference is that the
be used for more than a year other is presented vertically while
-Examples: land, equipment, the other is presented
building, and the like horizontally.
1. What is the difference
between current and non-
current assets?
Current assets can be converted
into cash within one accounting
period (12 months),
while non-current assets are Because major business decisions
converted into cash in more are based on the financial
than one accounting period. statements prepared by an
E. Discussing new concepts and
Practicing New Skills #2 2. What is the difference Buwan ng Wika Culmination accountant, one cannot emphasize CL
between current and non- enough the importance of
current liabilities? preparing accurate financial
Current liabilities are obligations statements.
that must be paid within one
accounting period (12
months), while non-current
liabilities are obligations that
are due to be paid in more
than one accounting period.
F. Developing Mastery The Statement of Financial Buwan ng Wika Culmination For users of accounting . CL
(Leads to formative Assessment 3) Position shows a company's information, viewing, assessing,
financial condition as of a given and analyzing a company's
period. It shows the assets, financial statement can help them
liabilities, and equity of a make an informed business
business. decision. One of the financial
Assets are things a business statements that can show a
owns and are used to make company's ability to pay its short-
goods or render services, giving term and long-term debts is the
a business revenue. A Statement of Financial Position
business's liabilities are (SFP).
obligations to other companies,
such as debts, loans, and other
things that it should pay. Equity
is the sum of all investments
 from the owner and the
business's net income,
decreased by the owner’s
drawings from the business. If
the business incurs a loss
instead of an income, the loss
will decrease the equity.
A partnership's equity section
shows the capital balances of
each business partner. In
corporations, the equity section
shows the shares of stocks and
the retained earnings. The
shares of stocks of a
corporation could be common
stock or preferred stock. The
retained earnings represent the
corporation's accumulated
profits.

One can differentiate current

assets from non-current assets
by identifying which assets are
liquid and can be used within
12 months. On the other hand,
one can differentiate current
liabilities from non-current
liabilities by determining which
obligations need to be settled
within 12 months.

Check Your Progress

Identify the followin. Write in Why do Statements of Financial
G. Finding practical applications of
concepts and skills in daily living the blanks with the correct Buwan ng Wika Culmination Position for sole proprietorships CL
answer. only have one entry in the owner’s
equity section?
A. True or False. Write true if the
H. Making generalizations and
abstraction about the lesson Additional Discussion Buwan ng Wika Culmination statement is correct. Otherwise, CL
write false.
I. Evaluating Learning Determine if the following Write an essay?
Buwan ng Wika Culmination CL
accounts are Assets, Liabilities, What is the difference between
 or Equity.
1. Cash
the report form and the account
2. Accounts Receivable
form of a Statement of Financial
3. Capital
Position?
4. Equipment
5. Notes Payable
J. Additional activities for application
Or remediation Advance Study Buwan ng Wika Culmination Advance Study CL
V. REMARKS

VI. REFLECTION

A.No. of learners who earned 80 % in

the evaluation
B.No. of learners who require additional
activities for remediation
C. Did the remedial lessons work? No.
of learners who have caught up with
the lesson
D.No. of learners who continue to
require remediation
E. Which of my teaching strategies
worked well? Why did this work?
F. What difficulties did I encounter that
my principal or supervisor could have
helped me solve?
G. What innovation or localized
materials did I use/ discover that I wish
to share with other teachers?
Prepared by:

MARC BERNELLE BUHALE

Subject Teacher

Approved:

EDUVIGIS G. GANDIONCO

Secondary School Principal