“O” LEVEL CONTINUOUS ASSESSMENT LEARNING ACTIVITY (CALA)

CALA COMPONENT “D”

CALA TYPE: Research, Pen & Paper.

Subject: Principles of Accounts

Level: Form 4
Syllabus Topic Accounting Standards
Topic Accounting Concepts and Principles.
Concepts & Skills: i. Identify and name accounting concepts and principles.
ii. Apply accounting concepts to recording, processing and
reporting.

Question:

The process of measurement, recording, processing financial transactions as well as

preparing financial reports involves the identification and application of accounting
concepts and principles.
The accounting concepts and principles assist in producing reliable, comparable and
auditable records and reports. It is the duty of book-keepers and accountants to identify
and use the accounting concepts and principles for the good of intended users of
financial information.
Required
a- Identify and Explain six (6) accounting concepts and principles. (20) Marks
Note: Use the following format to present your answer.
Accounting Concepts/Principles Explanation

Answer Guide

1. Introduction
 Briefly define accounting concepts and principles and state their purpose.

1
 2. Body of the Answer
 Use given format.

 Take note that” explanation” requires defining and providing evidence to

support your answer.

3. Conclusion
 provide a few remarks on level of awareness and seriousness of the use
of these standards by small to medium enterprises in Zimbabwe.

4 Activities

 Research from, notes, several text book material as well accounting

magazine/literature
 Identify the accounting concepts and principles
 Use research findings to answer the question.