Page 72 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

(b) Required disclosures: Discuss the required disclosures
for non-current assets, including accounting policies,
measurement bases, depreciation methods, useful lives, and
impairment details.
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5. Regulatory framework
(a) GAAP and IFRS: Highlight the relevant accounting
standards under Generally Accepted Accounting Principles
(GAAP) and International Financial Reporting Standards
(IFRS) that pertain to non-current assets.

(b) Differences between GAAP and IFRS: Discuss the key
differences between GAAP and IFRS in the treatment of non-
current assets.

6. Practical applications and case studies
(a) Real-world examples: Use real-world examples and case
studies to illustrate how the principles of non-current asset
accounting are applied in practice.
(b) Problem-solving exercises: Provide exercises and scenarios
that involve typical issues related to non-current assets to
reinforce learning.

7. Technological integration
(a) Accounting software: Introduce software tools that support
the accounting and management of non-current assets,
highlighting features for tracking, depreciation, and reporting.

(b) Emerging technologies: Discuss the impact of emerging
technologies like AI and blockchain on the management and
accounting of non-current assets.

Chapter summary
By addressing these key issues, you can provide a comprehensive
education in accounting for non-current assets, preparing students to
handle the complexities of recognizing, measuring, and reporting long-
term assets effectively in various business contexts.

Teacher’s Guide Form Five
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