At the end of the lesson, students should be able to :
• explain the concepts of Accounting Entity,
Accounting Period, Monetary Convention,
Going Concern and Historical Cost.
• know the Accounting Cycle.
or Business Entity
The Going Concern
The Historical Cost
The Accounting Entity
Or Business Entity
The business exists as a unit by itself.
It is separated from its owner.
Only transactions and events related
to the business are recorded in the
One day, you bought a new handphone Nokia 8310…
You also received an invoice from M1…
You decided to write down what you have spent on
a notebook so that you will not forget…
To record every different expenses on your
notebook seem very messy to you, so you decided
to keep a notebook for hobbies, books &
stationery, food & transport etc…
Pocket money received 140
Food & Transport 70
Books & Stationery 10
Sports & Recreation 15
Handphone bill 20
You want to see if your records are correct at the end of
the month… Did you forget to record anything?…
At the end of the month, you added up all your pocket
money received and the total amount of money spent.
Did you overspent on your hobbies? Do you have
some money to save for the month? How much money
do you have left at the end? Should you cut down on
your expenses next month? …
Books of Prime
Can you link??
What have you learn today?
Do you find POA more interesting
Class worksheet to test your