Session 4 - Practice: Salvage value, Average Clause - Claim for loss of stock

Practice/Practical/Practicum Session Plan : Practice: Salvage value, Average Clause - Claim for loss of stock

1️⃣ 0–5 min: Introduce salvage value and the need for Average Clause in fire insurance.
2️⃣ 5–15 min: Explain step-by-step method for computing loss of stock and claim amount.
3️⃣ 15–30 min: Solve numerical examples involving salvage value & underinsurance (Average Clause).
4️⃣ 30–40 min: Practice variations – correct/incorrect GP%, valuation errors, stock estimation.
5️⃣ 40–45 min: Recap formulas and discuss 5 important exam questions.

Instruction for Practice/Practical/Practicum : (PDF, PPT) Practice_Salvage_Average_Clause_Claim_for_Loss_of_Stock.pptx

Practice_Salvage_Average_Clause_Claim_for_Loss_of_Stock.pptx

Practice Material (IV Quadrant Approach)

(Q1) : Practice Questions/Problems (PDF Formats)

Fire insurance claim.pdf

(Q2) : Video Based Content (Youtube)

(Q3) : Formative Assessment (Google Form/Any Other Online Quiz Platform)

(Q4) : Further Reading

Recommended Books & Texts

Accounting for Business (3rd ed) — A textbook focused on how accounting supports business decision-making and is suitable for non-specialist managers and business students. Goodreads
Accounting for Business Studies by Aneirin Owen — Integrates accounting with business & management studies, emphasising the commercial context. Routledge
Business Accounting (v.2.0) (free online text) — Covers many fundamental accounting topics; good for self-study. 2012 Books
Accounting, The Language of Business by JoAnn Wood — Openly-licensed, explains accounting as a communication tool in business. Boise State Pressbooks

Useful Online Resources

Open Textbook Library: “Accounting Principles: A Business Perspective” and others — free downloadable textbooks covering core accounting topics. Open Educational Resources
Guides listing recommended books for accounting and business: e.g., “Business Recommended Reading by Subject: Accounting”. BYU Library Guides+1
Articles on accounting fundamentals: e.g., “What Is Accounting? | Introduction to Business” explains accounting as the language of business.

Page updated

Report abuse