Fundamentals of Accountancy, Business,
and Management 1
Accountancy, Business, and Management
Name: Date:
4.2 Application of Accounting Concepts and Principles
Good Examples 45 minutes
Learning Competency
This activity aims to target the following learning competency:
Solve exercises on accounting principles as applied in various cases
(ABM_FABM11-IIIb-c-16).
Instructions
Sample scenarios where accounting concepts and principles were followed
Product
Select five accounting concepts and principles. Provide an example scenario demonstrating
adherence to these principles. Fill out the table with your response.
Accounting Concept and
Sample Scenario
Principle
1.
1
Fundamentals of Accountancy, Business,
and Management 1
Accountancy, Business, and Management
2.
3.
4.
5.
Lesson 4.2: Application of Accounting Concepts and Principles 2
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Fundamentals of Accountancy, Business,
and Management 1
Accountancy, Business, and Management
Suggested Rubric for Grading
The rubric below is a suggested one. Your teacher may modify the rubric based on your
needs. Consult your teacher for the final rubric.
Performance Levels
Criteria 1 2 3 Weight Score
Beginning Average Advanced
Proficiency Proficiency Proficiency
Accuracy of The examples The examples The examples
examples provided reflect the provided reflect the provided reflect the
student’s developing student’s sufficient student’s mastery of
understanding of the understanding of the the ideas and ×3
ideas and concepts ideas and concepts concepts discussed.
discussed. discussed.
Authenticity of The examples The examples The examples
examples provided are provided are provided are
inauthentic and do somewhat authentic authentic and
not reflect situations and fairly reflect excellently reflect ×2
and scenarios that situations and situations and
happen in real life. scenarios that happen scenarios that
in real life. happen in real life.
Presentation The presentation of The presentation of The presentation of
and ideas needs ideas is somewhat ideas is complete,
Organization improvement. complete, organized organized and ×1
and logical. logical.
Total Possible Score 18
Teacher’s Feedback
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Lesson 4.2: Application of Accounting Concepts and Principles 3
c
Fundamentals of Accountancy, Business,
and Management 1
Accountancy, Business, and Management
Name: Date:
4.2 Introduction to Accounting Concepts and Principles
What is the Violation? 30 minutes
Learning Competency
This activity aims to target the following learning competency:
Solve exercises on accounting principles as applied in various cases
(ABM_FABM11-IIIb-c-16).
Instructions
An analysis of violations of accounting concepts and principles
Product
1. Read and examine the following scenarios.
2. Identify the accounting concept or principle violated and explain why.
3. Revise the statement to make it valid.
4. Write your answer in the table provided.
Lesson 4.2: Application of Accounting Concepts and Principles 4
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Fundamentals of Accountancy, Business,
and Management 1
Accountancy, Business, and Management
Concept or Principle
Scenario Revision
Violated
1. Atlas Marketing Consultancy
didn’t disclose the lawsuit for a
patent filed against them by
their competitor.
2. Miranda insisted that her
employees should be
recognized as an asset of the
business and should be
recorded in the accounting
books. Miranda justifies that,
her business has the best
employees and has undergone
different skills training and
seminars funded by the
business.
3. Ernie imposed a business policy
in which a service transaction
rendered to a customer on
account must be recorded only
after payment was made.
4. The bookkeeper of Manny
Builders recorded the personal
transactions of the owner in
the business’ books. The
bookkeeper justifies that it is
valid because the transaction
was made by the owner of the
business.
Lesson 4.2: Application of Accounting Concepts and Principles 5
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Fundamentals of Accountancy, Business,
and Management 1
Accountancy, Business, and Management
5. Madonna paid in advance
₱100,000.00 for two years
worth of office rent. She
recorded the first year rent
expense in the accounting
books at ₱100,000.00, justifying
that this is what was paid.
Suggested Rubric for Grading
The rubric below is a suggested one. Your teacher may modify the rubric based on your
needs. Consult your teacher for the final rubric.
Performance Levels
Criteria Suggested
1 2 3 Score
Weight
Beginning Average Advanced
Proficiency Proficiency Proficiency
Application of The product reflects The product reflects The product reflects
concepts developing sufficient the student’s
understanding of understanding of mastery of ideas ×3
ideas and concepts ideas and concepts and concepts
discussed. discussed. discussed.
Completeness The student was able The student was able The student was
to answer 1-2 to answer 3-4 able to answer all ×2
questions questions questions
Mechanics Many spelling, Some spelling, No spelling,
punctuation, and punctuation, and punctuation, and ×1
grammatical errors. grammatical errors. grammatical errors.
Total Possible Score 18
Lesson 4.2: Application of Accounting Concepts and Principles 6
c
Fundamentals of Accountancy, Business,
and Management 1
Accountancy, Business, and Management
Teacher’s Feedback
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Lesson 4.2: Application of Accounting Concepts and Principles 7
