Session 4 to 6 - Practice: Ascertainment of profit/ Loss - Methods in single entry system

Practice/Practical/Practicum Session Plan : Practice: Ascertainment of profit/ Loss - Methods in single entry system

1️⃣ 0–5 min: Introduce the meaning of profit determination under Single Entry and why it is needed.
2️⃣ 5–15 min: Explain two methods: Statement of Affairs Method and Conversion Method.
3️⃣ 15–30 min: Solve a simple problem using the Statement of Affairs (Net Worth) Method.
4️⃣ 30–40 min: Show how the Conversion Method works with ledger reconstruction.
5️⃣ 40–45 min: Recap and discuss 5 important exam-oriented questions.

Instruction for Practice/Practical/Practicum : (PDF, PPT)

Ascertainment_of_Profit_in_SingleEntry.pptx

Practice Material (IV Quadrant Approach)

(Q1) : Practice Questions/Problems (PDF Formats)

Ascertainment of profit.pdf

(Q2) : Video Based Content (Youtube)

(Q3) : Formative Assessment (Google Form/Any Other Online Quiz Platform)

(Q4) : Further Reading

Recommended Books & Texts

Accounting for Business (3rd ed) — A textbook focused on how accounting supports business decision-making and is suitable for non-specialist managers and business students. Goodreads
Accounting for Business Studies by Aneirin Owen — Integrates accounting with business & management studies, emphasising the commercial context. Routledge
Business Accounting (v.2.0) (free online text) — Covers many fundamental accounting topics; good for self-study. 2012 Books
Accounting, The Language of Business by JoAnn Wood — Openly-licensed, explains accounting as a communication tool in business. Boise State Pressbooks

Useful Online Resources

Open Textbook Library: “Accounting Principles: A Business Perspective” and others — free downloadable textbooks covering core accounting topics. Open Educational Resources
Guides listing recommended books for accounting and business: e.g., “Business Recommended Reading by Subject: Accounting”. BYU Library Guides+1
Articles on accounting fundamentals: e.g., “What Is Accounting? | Introduction to Business” explains accounting as the language of business.

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