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Intructional Plan (iPlan) Template

(With inclusion of the provisions of DepEd Order No. 8, s. 2015)

Learning Area: FUNDAMENTALS OF ACCOUNTANCY, Grade Level: Date:

iPlan No.: 13 Quarter: FIRST Duration: 1 hour
Content Accounting Concepts and Principles
Learning Competency/ies: Accounting concepts and principles Code: ABM_FABM11-
(Taken from the curriculum guide IIIa-15 & 16
Key Concepts/  Explain the varied accounting concepts and principles
Understanding to be  Solve exercises on accounting principles as applied in various cases
Learning Objectives Adapted Cognitive Process Dimensions
Knowledge The Remembering identify, retrieve,
fact or condition of recognize, duplicate,
knowing something list, memorize, repeat,
with familiarity describe, reproduce
gained through Understanding interpret, exemplify, Explain the generally
classify, summarize,
experience or
infer, compare, accepted accounting
explain, paraphrase, concept and principles
Skills Applying execute, implement,
The ability and demonstrate,
capacity acquired dramatize, interpret,
through deliberate, solve, use, illustrate,
systematic, and convert, discover
adaptively carryout Analyzing differentiate, Distinguish which
distinguish, compare,
complex activities or
contrast, organize, accounting concept ad
the ability coming
from one’s outline, attribute, principles are violated
knowledge practice, deconstruct
aptitude, etc. to do Evaluating coordinate, measure,
something detect, defend, judge,
argue, debate,
describe, critique,
appraise, evaluate
Creating generate, hypothesize,
plan, design, develop,
produce, construct,
formulate, assemble,
Attitude A settled way of thinking or feeling about Practice honesty
someone or something typically one that is
reflected in a person’s behavior
Values (RA 8491)
A learner’s principles or standards of Maka-Diyos Honesty is the best policy
behavior, one’s judgment of what is
importance in life. Maka-tao
Go beyond learner’s life on earth, include Makakalikasan
more than wealth and fame and would
affect the eternal destiny of millions
Learning Resources
Laptop, TV set, HDMI cable
Introductory Activity Synonym Activity
( 3 minutes)
This part introduces the lesson content. Although at times optional, it is usually
included to serve as a warm-up activity to give the learners zest for the incoming
lesson and an idea about what it to follow. One principle in learning is that
learning occurs when it is conducted in a pleasurable and comfortable
atmosphere. (Motivation)
Activity Case Evaluation.
( 10 minutes)
This is an interactive strategy to elicit learner’s prior learning experience.
Analysis  How did you find the activity?
( 2 minutes)  What helped you identify the correct
Essential questions are included to serve as a guide for the teacher in clarifying answer?
key understanding about the topic at hand.
Abstraction Lecturette:
( 20 minutes)  Accounting Concepts and Principles
The outlines the key concepts, important skills that should be enhanced and the
proper attitude that should be emphasized.
Application Group Activity:
( 10 minutes) Case Study. Indicate which accounting concept
This part is structured to ensure the commitment of the learners to do something to apply and principles are violated.
their new learning in their own environment.

Assessment Assessment Method Possible

( 10 minutes) Activities
For the teachers to:
1. Assess whether
Observation Investigation, Role Play, Oral
Presentation, Dance, Musical
(Formal and informal observations of
learning Performance, Skill
learners’ performance or behaviors are
Demonstration, Group Activity
objectives have recorded, based on assessment criteria
(e.g. Choral Reading), Debate,
been met for a Motor & Psychomotor Games,
specific duration Simulation Activities, Science
2. Remediate
and/or enrich Talking to Hands-on Math Activities,
Written Work and Essay,
with appropriate Learners/Conferenci Picture Analysis, Comic Strip,
strategies as Panel Discussion, Interview,
ng Thin-Pair-Share, Reading
(Teachers Talk to and question learners
3. Evaluate about their learning to gain insights on
whether learning their understanding and to progress and
intention and clarify their thinking)

success criteria Analysis of Learners’ Worksheets for all subjects,

Essay, Concept Maps/Graphic
have been met. Product Organizer, Project, Model,
(Reminders: Formative (Teachers judge the quality of products Artwork, Multi-media
Assessment may be produced by learners according to Presentation, Product made in
agreed criteria) technical-vocational subjects
given before, during or
after the lesson.) Test Skill Performance Test, Open- Mutiple-Choice Test.
Ended Question, Practicum,
(Teachers set tests or quizzes to Pen and Paper Test, Pre and 1. The accounting guideline that requires financial
determine learners’ ability to
demonstrate mastery of a skill or
Post Test, Diagnostic Test,
Oral Test, Quiz statement information to be supported by
knowledge of content) independent, unbiased evidence other than
someone's belief or opinion is the:
a. Business entity principle
b. Monetary unit principle
c. Going-concern principle
d. Objectivity principle
2. The principle that requires every business to be
accounted for separately and distinctly from its
owner or owners is known as the:
a. Objectivity principle
b. Business entity principle
c. Revenue recognition principle
d. Cost principle
3. The rule that requires financial statements to
reflect the assumption that the business will
continue operating instead of being closed or sold,
unless evidence shows that it will not continue, is
a. Going-concern principle
b. Objectivity principle
c. Cost Principle
d. Monetary unit principle
4. Financial Statements of a company is prepared
at a regular interval.
a. Going Concern Principle
b. Time Period Principle
c. Monetary Unit Principle
d. Business Entity Principle
5. The financial statements should be stated in
terms of a common financial denominator.
a. Monetary unit principle
b. Conservatism principle
c. Matching principle
d. Cost principle
Assignment Reinforcing /strengthening
( 2 minute) the day’s lesson
Enriching / inspiring the
day’s lesson
Enhancing / Improving the  Interview a business owner and ask them about their accounting
day’s lesson practices. Identify if there has been any violation of the accounting
Preparing for the new
Concluding Activity (3 minute )
This usually a brief but affective closing activity such as
a strong quotation, a short song, an anecdote, parable
or a letter that inspires the learners to do something to
practice their new learning

Reflection “One lie is enough to question all thruths.”
Prepared by:
Name: School:
Position/Designation: Teacher 3 Cebu Province
Contact Number: Email Address:
Synonym activity

Information Sheet
“Accounting Concepts and Principles”

Accounting Concepts and Principles are known as the “Generally Accepted Accounting Principles,”
or GAAP serve as the rules for accounting of financial transactions and preparing financial
statements. It’s application of the principles by accountants ensures that financial statements are
both informative and reliable.

• Business entity principle

– a business enterprise is separate and distinct from its owner or investor.
o If the owner has a barber shop, the cash of the barber shop should be reported separately from
personal cash.
o The owner had a business meeting with a prospective client. The expenses that come with that
meeting should be part of the company’s expenses. If the owner paid for gas for his personal use,
it should not be included as part of the company’s expenses.

• Going concern principle

– business is expected to continue indefinitely.
When preparing financial statements, you should assume that the entity will continue

• Time period principle

– financial statements are to be divided into specific time intervals.
o Philippine companies are required to report financial statements annually.
o The salary expenses from January to December 2015 should only be reported in 2015.

• Monetary unit principle

– amounts are stated into a single monetary unit
o Jollibee should report financial statements in pesos even if they have a store in the United States.
o IHOP should report financial statements in dollars even if they have a branch here in the

• Objectivity principle
– financial statements must be presented with supporting evidence.
o When the customer paid Jollibee for their order, Jollibee should have a copy of the receipt to
represent as evidence.

• Cost principle
– accounts should be recorded initially at cost.
o When Jollibee buys a cash register, it should record the cash register at its price when they
bought it.
o When a company purchases a laptop, it should be recorded at the price it was purchased.

• Accrual Accounting Principle

– revenue should be recognized when earned regardless of collection and expenses should
be recognized when incurred regardless of payment. On the other hand, the cash basis principle
in which revenue is recorded when collected and expenses should be recorded when paid. Cash
basis is not the generally accepted principle today.
o When a barber finishes performing his services, he should record it as revenue. When the barber
shop receives an electricity bill, it should record it as an expense even if it is unpaid.

• Matching principle
– cost should be matched with the revenue generated.
o When you provide tutorial services to a customer and there is a transportation cost incurred
related to the tutorial services, it should be recorded as an expense for that period.

• Disclosure principle
– all relevant and material information should be reported.
The company should report all relevant information.

• Conservatism principle
– also known as prudence. In case of doubt, assets and income should not be overstated
while liabilities and expenses should not be understated.
o In case of doubt, expenses should be recorded at a higher amount. Revenue should be recorded
at a lower amount.

• Materiality principle
– in case of assets that are immaterial to make a difference in the financial statements, the
company should instead record it as an expense.
o A school purchased an eraser with an estimated useful life of three years. Since an eraser is
immaterial relative to assets, it should be recorded as an expense.

Note: if you’re interested with the slide just