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,
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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

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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.

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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.

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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

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and Management 1
Accountancy, Business, and Management

Teacher’s Feedback
_________________________________________________________________________________________________

_________________________________________________________________________________________________

_________________________________________________________________________________________________

Lesson 4.2: Application of Accounting Concepts and Principles 7