Page 21 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

(d) Recognition and measurement criteria: Explain when and
how items should be recognized in financial statements and
the measurement bases used (e.g., historical cost, fair value).

5. Application of accounting principles
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(a) Real-world examples: Use examples mentioned in the
textbooks with your own practical examples and case studies
to show how accounting principles are applied in various
scenarios.

(b) Industry practices: Discuss specific accounting practices and
challenges in different industries (e.g., retail, manufacturing,
services).
6. Technological impact on accounting

(a) Accounting software: Introduce to students common
accounting software that implements these principles in
practice.

(b) Emerging technologies: Discuss with the studnts the impact
of technologies like AI, cloud computing, and data analytics
on accounting practices.

Chapter summary

Using these key issues efficiently and effectively, you can provide a well-
description of the concepts, theories and principles of accounting that
prepare students for both academic success and real-world application.

Teacher’s Guide Form Five
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23/06/2024 17:45
ACCOUNTANCY_TG_2024_FINAL DUMMY.indd 7
ACCOUNTANCY_TG_2024_FINAL DUMMY.indd 7 23/06/2024 17:45