Page 81 - Accountancy for Advanced Secondary Schools Teachers Guide Form Five

Chapter Correction of accounting errors

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

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Introduction
The student will learn relevant computations to correct various
accounting errors by using suspense account, also, the student will
learn various accounting errors on the reported profit/loss and the
financial position of a business. The competencies developed will
enable the student to adjust records in financial statements.

Student’s activities

(a) Perform relevant computations to correct various accounting
errors using a suspense account
(b) Analyse the impact of various accounting errors on the
reported statement of profit/loss and the statement of
financial position of business

Teaching and learning resources

• Flowcharts (steps for identifying and correcting accounting
errors)

• Visual aids (graphs, charts and tables)

Sample of:

• Suspense account
• Income Statements
• Statement of financial position

Teacher’s Guide Form Five
67

23/06/2024 17:45
ACCOUNTANCY_TG_2024_FINAL DUMMY.indd 67
ACCOUNTANCY_TG_2024_FINAL DUMMY.indd 67 23/06/2024 17:45