Page 77 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

5. Class discussion and feedback: Foster a collaborative learning
environment through discussion and constructive feedback.
Facilitate a class discussion on the various resulted challenges,
provide constructive feedback on the presentations, highlighting
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strengths as well as areas for improvement, and discuss real-world
applications.

6. Reflective assignment: Encourage students to reflect on their
learning experience and the practical implications of Hire Purchase
assets by assigning a reflective essay where students summarize
their findings and personal insights gained from the activity and
ask students to consider how they might apply this knowledge in
their future financial planning.

Chapter teaching guide

Here are the primary points to consider on this chapter:

1. Fundamental concepts

(a) Definition of hire purchase: Explain what hire purchase is,
focusing on its nature as a financial arrangement where the
buyer obtains the use of an asset immediately but pays for it
in instalments.

(b) Parties involved: Discuss the roles of the hirer (buyer) and
the hiree (seller or finance company).

2. Legal and financial implications

(a) Ownership and Possession: Clarify that the hirer gets
possession of the asset but ownership is transferred only after
all instalments are paid.

(b) Default and repossession: Explain the consequences of
default, including potential repossession of the asset by the
hire.

Teacher’s Guide Form Five
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ACCOUNTANCY_TG_2024_FINAL DUMMY.indd 63 23/06/2024 17:45