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Double entry and the three statements

Adult · 35 minutes · Record transactions and read accounts.

Visual learning map for Double entry and the three statements: observe, try, then explain. Record transactions and read accounts.
Visual learning map for Double entry and the three statements: observe, try, then explain. Record transactions and read accounts.

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Our learning goal

Record transactions and read accounts.

Your turn: Choose one thing you would like to understand by the end.

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Full teaching script
  1. Today: Double entry and the three statements. Our goal: Record transactions and read accounts.
  2. Take one idea at a time. Pause after each sentence; ask for repetition whenever you need it.
  3. Every transaction hits two accounts: debits equal credits, always. Assets = liabilities + equity is the identity the balance sheet expresses at a moment in time. The profit and loss shows performance over a period — and profit is not cash, because sales are recognised when earned. The cash-flow statement reconciles the two and is where a failing business shows first: profitable companies die of cash starvation, not of losses.
  4. Together: choose one example from the explanation and show how it works. What do you notice?
  5. Your turn: Journal ten transactions, post them, and produce a trial balance.
  6. Reflect: what made sense, and what would you like explained differently?
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