Topic (2)– Financial Institution Services – Lesson 1
Aim of lesson: To familiarise students with the main financial institutions, and to introduce them to bank accounts.
Introduction / Development / Student activities / Homework / How did it go?- Describe the special role of the central bank
- Compare the central bank functions with those of a commercial/high street bank.
- Summarise other financial institutions, such as investment companies, credit unions and others that are important in the finance market.
- Explain the basic difference between a bank deposit/savings account and a current/chequing account.
- Summarise the main services provided by banks for making payments.
- Emphasise some of the terminology they need to become familiar with, e.g. interest, deposit, ATM, cheque, credit slip, overdraft, etc
Topic (2)– Financial Institution Services – Lesson 2
Aim of lesson: To familiarise students with the function of cheques.
Introduction / Development / Student activities / Homework / How did it go?- Explain what a cheque is and the various forms it can take, e.g. order cheques, bearer cheques, counter cheques.
- Use our template of a cheque Cheques.doc as a hard copy or display via PowerPoint, to identify the parties of a cheque and other features.
- Explain the basic difference between an open cheque and a crossed cheque.
- Explain the significance of the cheque crossing and the forms it can take.
- Describe examples when a cheque might be dishonoured and how this could affect someone’s reputation.
- Prior to the lesson, it will be beneficial if the teacher has printed off copies of blank cheques Cheques.doc that can be used at this point in the lesson to enable the students to practise cheque completion.
- Set students various amounts to pay to other classmates. They check each other for accuracy.
- Group students in pairs. Instruct them to make a cheque payable to their partners. They are to make one or more deliberate errors that their partner is required to identify. Ideally, this activity should introduce a bit of fun into the learning situation.
Topic (2)– Financial Institution Services – Lesson 3
Aim of lesson: To familiarise students with the bank statement and the bank reconciliation statement.
Introduction / Development / Student activities / Homework / How did it go?- Explain the purpose of a bank statement and how it relates to the previous statement issued by the bank.
- Describe the purpose of each of the columns displayed on a bank statement. Use template Bank_statement.doc for illustration purposes. (Editor we perhaps need to give a link device?)
- Give students access to a bank statement with actual data. This may be done via a template and PowerPoint display, or by reference to an example in their text book.
- Talk them through a range of entries that includes debits, credits and cumulative balance.
- Discuss with students the reasons for the need to create a reconciliation statement, and how this is formulated.
- Provide students with a bank statement scenario and get them to carry out the bank statement reconciliation.
- Set students questions they should answer in order to formulate revision notes on the topic of this lesson. These may be taken from the ‘Make a note of it’ activity at the end of the Heinemann Office Administration for CSEC book chapter, or the teacher may prefer to create their own.
Topic (2)– Financial Institution Services – Lesson 4
Aim of lesson:To give students an understanding of the range of banking services available.
Introduction / Development / Student activities / Homework / How did it go?Give a summary description of the main banking services provided by banks for their customers, e.g. standing order, direct debit, credit transfer, bank cards and the use of ATM. /
- Describe the various methods of borrowing from a bank and compare the cost implications of each.
- Discuss circumstances where one method of borrowing would be used in preference to others in the business context.
Topic (2)– Financial Institution Services – Lesson 5
Aim of lesson: To test students’ understanding of the financial institutions services topic; their ability to apply the knowledge acquired, and to provide the teacher with an assessment of the student’s progress.
Preparation
The teacher will need to prepare test sheets for multiple choice questions, and structured questions, and print off the relevant structured questions they wish to set the students.
Multiple choice questions: Prepare a multiple choice test using questions contained at end of the related chapter of the Heinemann Office Administration for CSEC and the Longman Office Administration for CSECtexts, and within the CD-ROMs that accompany these texts.The teacher should be aware that the answers are contained at the end of the book so, do not allow use of the text book. This test should be extended by the teacher by using the multiple choice questions on the CD-ROMand others to make up to a maximum score of 20.
- Structured questions: Prepare one or two structured questions from those contained between pages 231 to 234 of the Heinemann Office Administration for CSECbook, or similar stepped questions created by the teacher.
- Teachers note: If you have students who are of particularly poor ability it is possible to assign to them only sections a) and b) of each question. You will find that this still achieves assessment of ability because they can achieve only a low score, but the weaker student is able to achieve some degree of success.
How did it go? Lessonreview
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