Page 66 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

Chapter Accounting of non-current assets

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

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Introduction

Property, plant, and equipment (PP&E) are tangible non-current assets
that are used in the operations of a business and have a useful life
extending beyond one year. In this chapter, you will learn about nature,
types, valuation and measurement methods, depreciation and disposal
of property, plant and equipment. Also, the student will learn how to
prepare and maintain accounting records related to non-current assets
particularly valuation, depreciation and disposal of non-current assets.
The competencies developed will enable the 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 to non-current assets.

Student’s activities

(a) Describe the concepts and principles applied in the
accounting of non-current assets

(b) Prepare and maintain accounting records related to non-
current assets

Teaching and learning resources

Sample of:

• Long-term Investments identity
• Property (land & buildings)
• Plant and Equipment (PP &E)

• Trademarks and logos

Teacher’s Guide Form Five
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