Page 60 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

Chapter Royalties accounting

Six
Chapter One: The Concepts, theories and principles of accounting

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Introduction
The student will learn meaning, types and terminologies of branch
accounts. Also, the student will learn books of lessor and lessee when the
contract provides minimum rent and when it does not provide minimum
rent. The competencies gained will enable student to demonstrate an
understanding of concepts and principles applied in the accounting of
non-current assets and have ability to prepare and maintain records
related non-current assets.

Student’s activities

(a) Describe the concepts and principles applied in the
accounting of royalties

(b) Prepare and maintain accounting records related to royalties

Teaching and learning resources

Sample of:
• Royalty agreement
• Copyrights or trademarks

• Payment receipts

Teacher’s Guide Form Five
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