Difference between revisions of "Accounting concepts"
Jump to navigation
Jump to search
Gurumurthy (talk | contribs) |
KOER admin (talk | contribs) m (Text replacement - "</mm>" to "") |
||
| (10 intermediate revisions by 2 users not shown) | |||
| Line 22: | Line 22: | ||
= Concept Map = | = Concept Map = | ||
__FORCETOC__ | __FORCETOC__ | ||
| + | [[File:accounting concepts.mm|Flash]] | ||
| + | |||
= Textbook = | = Textbook = | ||
To add textbook links, please follow these instructions to: | To add textbook links, please follow these instructions to: | ||
| Line 28: | Line 30: | ||
=Additional References= | =Additional References= | ||
==How the topic is discussed in NCERT Books== | ==How the topic is discussed in NCERT Books== | ||
| + | |||
| + | NCERT Class XI has 'Financial Accounting - I' text book, which gives much more detailed explanation of Accounting. Chapter 1 provides an introduction to accountancy and [http://www.ncert.nic.in/ncerts/textbook/textbook.htm?keac1=2-8 Class XI - Financial Accounting - Chapter 2] discusses basic accounting concepts which is very much required to understand the subject. | ||
| + | |||
| + | Chapter two also discusses three other related items - accounting principles/practices (including the General Accepted Accounting Principles,called GAAP in short), accounting conventions and accounting standards. | ||
| + | |||
| + | Both accounting principles and conventions inform/influence the actual practice of accountancy. | ||
| + | |||
| + | The professional accounting bodies (such as the [http://icai.org/ Institute of Chartered Accountants of India]), draft the accounting principles and standards to keep evolving with changing requirements. | ||
| + | |||
| + | [[Text_books_ncert_accountancy | Click here for NCERT Accountancy text books]] | ||
| + | |||
==Useful websites== | ==Useful websites== | ||
| + | Few useful sites for accounting concepts | ||
| + | |||
| + | http://www.businessdictionary.com/definition/accounting-concepts.html | ||
| + | |||
==Reference Books== | ==Reference Books== | ||
| + | [http://www.textbooksonline.tn.nic.in/Books/11/Std11-Acct-EM.pdf Tamil Nadu text book for Class XII Chapter 2] gives a good explanation about Conceptual Frame Work of Accounting. Accounting concepts, assumptions (conventions) and principles (see image below from the text book). | ||
| + | |||
| + | [[File:Tamil Nadu Text Book Framework Accounting concepts.png|400px]] | ||
= Teaching Outlines = | = Teaching Outlines = | ||
'''Please describe the key ideas to be conveyed in this section. Also broken down in details by each idea''' | '''Please describe the key ideas to be conveyed in this section. Also broken down in details by each idea''' | ||
| − | ==Key Idea #== | + | ==Key Idea # 1 - Introduction to accounting concepts == |
What are the key ideas to be covered | What are the key ideas to be covered | ||
| + | |||
| + | Accounting concepts are basic to understanding accountancy. These concepts provide the basis for the book keeping as well as financial / cost / management accounting processes. There are a large number of accounting concepts. In addition there are also important accounting conventions. | ||
| + | |||
===Learning objectives=== | ===Learning objectives=== | ||
| + | What are accounting concepts | ||
| + | |||
===Notes for teachers=== | ===Notes for teachers=== | ||
| − | ===Activity No # === | + | These concepts are very thought provoking and hence can be learnt through a participatory discussion mode. For each concept, students can debate - why do we need this concept, whether the concept conflicts with another concept etc. |
| + | |||
| + | ===Activity No # 1 Discussion on accounting concepts === | ||
{| style="height:10px; float:right; align:center;" | {| style="height:10px; float:right; align:center;" | ||
|<div style="width:150px;border:none; border-radius:10px;box-shadow: 5px 5px 5px #888888; background:#f5f5f5; vertical-align:top; text-align:center; padding:5px;"> | |<div style="width:150px;border:none; border-radius:10px;box-shadow: 5px 5px 5px #888888; background:#f5f5f5; vertical-align:top; text-align:center; padding:5px;"> | ||
''[http://www.karnatakaeducation.org.in/?q=node/305 Click to Comment]''</div> | ''[http://www.karnatakaeducation.org.in/?q=node/305 Click to Comment]''</div> | ||
|} | |} | ||
| − | *Estimated Time | + | *Estimated Time |
| + | 2 periods | ||
| + | |||
*Materials/ Resources needed | *Materials/ Resources needed | ||
| + | |||
*Prerequisites/Instructions, if any | *Prerequisites/Instructions, if any | ||
| + | |||
*Multimedia resources | *Multimedia resources | ||
| + | |||
*Relevant local connections - people, places and materials | *Relevant local connections - people, places and materials | ||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
*Website interactives/ links | *Website interactives/ links | ||
| − | + | A few slide presentations give a good idea of these concepts and conventions | |
| − | + | Simple and clear slide show | |
| − | |||
| − | |||
| − | == | + | {{#widget:Iframe |url=http://www.slideshare.net/slideshow/embed_code/15481849|width=450 |height=360 |border=1 }} |
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
*Process | *Process | ||
| + | Let students in teams of 2-4 pick up one concept each and present to the rest of the class | ||
| + | |||
*What questions can you ask | *What questions can you ask | ||
| + | Why do we need accounting concepts | ||
| + | |||
*Assessments - incorporating elements of CCE | *Assessments - incorporating elements of CCE | ||
| + | |||
*Question Corner | *Question Corner | ||
| + | Do accounting concepts change or need to change from country to country? | ||
===Activity No # === | ===Activity No # === | ||
| Line 96: | Line 103: | ||
''[http://www.karnatakaeducation.org.in/?q=node/305 Click to Comment]''</div> | ''[http://www.karnatakaeducation.org.in/?q=node/305 Click to Comment]''</div> | ||
|} | |} | ||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | + | A second simple and clear slide show | |
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
*Estimated Time | *Estimated Time | ||
*Materials/ Resources needed | *Materials/ Resources needed | ||
*Prerequisites/Instructions, if any | *Prerequisites/Instructions, if any | ||
*Multimedia resources | *Multimedia resources | ||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | |||
| − | + | {{#widget:Iframe |url=http://www.slideshare.net/slideshow/embed_code/15051017|width=450 |height=360 |border=1 }} | |
| − | + | ||
| − | | | ||
| − | |||
| − | |} | ||
| − | |||
| − | |||
| − | |||
| − | |||
*Relevant local connections - people, places and materials | *Relevant local connections - people, places and materials | ||
*Website interactives/ links | *Website interactives/ links | ||
| Line 144: | Line 119: | ||
*Assessments - incorporating elements of CCE | *Assessments - incorporating elements of CCE | ||
*Question Corner | *Question Corner | ||
| + | # Why do we need accounting concepts | ||
| + | # Who has created / developed these accounting concepts | ||
= Project Ideas = | = Project Ideas = | ||
= Community Based Project = | = Community Based Project = | ||
Latest revision as of 21:05, 17 May 2017
| Philosophy of Social Sciences |
While creating a resource page, please click here for a resource creation checklist.
Concept Map
Textbook
To add textbook links, please follow these instructions to: (Click to create the subpage)
Additional References
How the topic is discussed in NCERT Books
NCERT Class XI has 'Financial Accounting - I' text book, which gives much more detailed explanation of Accounting. Chapter 1 provides an introduction to accountancy and Class XI - Financial Accounting - Chapter 2 discusses basic accounting concepts which is very much required to understand the subject.
Chapter two also discusses three other related items - accounting principles/practices (including the General Accepted Accounting Principles,called GAAP in short), accounting conventions and accounting standards.
Both accounting principles and conventions inform/influence the actual practice of accountancy.
The professional accounting bodies (such as the Institute of Chartered Accountants of India), draft the accounting principles and standards to keep evolving with changing requirements.
Click here for NCERT Accountancy text books
Useful websites
Few useful sites for accounting concepts
http://www.businessdictionary.com/definition/accounting-concepts.html
Reference Books
Tamil Nadu text book for Class XII Chapter 2 gives a good explanation about Conceptual Frame Work of Accounting. Accounting concepts, assumptions (conventions) and principles (see image below from the text book).
Teaching Outlines
Please describe the key ideas to be conveyed in this section. Also broken down in details by each idea
Key Idea # 1 - Introduction to accounting concepts
What are the key ideas to be covered
Accounting concepts are basic to understanding accountancy. These concepts provide the basis for the book keeping as well as financial / cost / management accounting processes. There are a large number of accounting concepts. In addition there are also important accounting conventions.
Learning objectives
What are accounting concepts
Notes for teachers
These concepts are very thought provoking and hence can be learnt through a participatory discussion mode. For each concept, students can debate - why do we need this concept, whether the concept conflicts with another concept etc.
Activity No # 1 Discussion on accounting concepts
- Estimated Time
2 periods
- Materials/ Resources needed
- Prerequisites/Instructions, if any
- Multimedia resources
- Relevant local connections - people, places and materials
- Website interactives/ links
A few slide presentations give a good idea of these concepts and conventions Simple and clear slide show
- Process
Let students in teams of 2-4 pick up one concept each and present to the rest of the class
- What questions can you ask
Why do we need accounting concepts
- Assessments - incorporating elements of CCE
- Question Corner
Do accounting concepts change or need to change from country to country?
Activity No #
A second simple and clear slide show
- Estimated Time
- Materials/ Resources needed
- Prerequisites/Instructions, if any
- Multimedia resources
- Relevant local connections - people, places and materials
- Website interactives/ links
- Process
- What questions can you ask
- Assessments - incorporating elements of CCE
- Question Corner
- Why do we need accounting concepts
- Who has created / developed these accounting concepts