Teaching which is the primary function of teachers is involves passing instructions, transmitting knowledge, facts, skills, interests, and aptitude. Modebelu (2017) defines teaching as an activity comprising of a set of actions and programmes planned and targeted towards inculcating learning through conscious and deliberate efforts of a teacher. A teacher in this situation is expected to be a core professional who consciously and deliberately utilizes his or her wealth of experience, skills, competencies, attitudes, interest and mastery of the subject matter to facilitate learning in students.
The product of teaching is learning activities i.e. knowledge acquisition. Teaching and learning process is a two-way traffic affair where the teacher sends out the message while the students acknowledge through feedback, but this give and take processes could only be effective when the teaching methods are appropriate. Teaching method refers to the manner of transmitting facts, skills, information and knowledge by the teacher/instructor, so as to engage students in meaningful activities for learning and to achieve the objective of the lesson (Joe, 2014).
Also, Ajoma (2017) views teaching method as professional technique that teachers adopt regularly in instructional exercises to enable them impart relevant knowledge and skills to the learner. Financial Accounting teachers also employ various teaching methods to impact knowledge.Financial Accounting is the process of identifying, measuring, recording, and communicating an organization’s economic activities to users for decision making (Dauderis & Annand, 2014). According to Asaolu (2002), Financial Accounting is the process of recording, classifying, selecting, measuring, interpreting, summarizing and reporting financial data of an organization to the users for objective assessment and decision making. Accounting data are processed into accounting information through the use of accounting principles and conventions. They are the basic fundamentals which guide accountants in recording, appreciating and assessing accounting information as well as the preparation and interpretation of financial statements. Accounting information system is proven, time honored, and its format is universally understood. Books of accounts prepared by accountants in one part of the world are easily understood by their counterparts in other parts of the world because the information system is based on the principles that are widely accepted and globally used. In the light of this, Financial Accounting is one of the courses offered in all Colleges of Education in Nigeria as spelt out by the national minimum standard (NCE curriculum). According to the National Commission for Colleges of Education (2012), NCCE the objectives of studying Business Education in Nigerian Colleges of Education are as follows: To produce well qualified and competent graduates in business education, produce N.C.E business teachers who will be able to inculcate the vocational aspects of business education into the society, to produce N.C.E business teachers who will be involved in the much desired revolution of vocational development right from primary and secondary schools, and to equip students with necessary competencies so as to qualify them for a post-NCE degree programmme in business education. In attempt to achieve the stated objectives by NCCE, business education teachers including Financial Accounting teachers employ various teaching methods in the teaching and learning processes. Ezenwosu and Nworgu (2013) stated that most teachers adopted traditional lecture method which is an oral presentation of ideas, concepts and principles to the students. Jimoh (2014) explained that lecture method is an instructional strategy which affords teacher the opportunity to present a wide content to a large class of students with little or no interaction among students and even the teacher. Azih and Nwosu (2011) indicated that student-centred methods which are characterized by active involvement of students in the teaching and learning process could be the important factor for improving students’ performance in accounting. Student-centred methods include: Socratic Method, Problem Based Method, Guided Discovery Method, Case Study Method, Discussion Method among others (Attard, 2010). Guided-discovery is a teaching method that enables learners to create their own learning experience, with the guidance of their teachers. This method has recently been emphasized in teaching. It has been identified as providing meaningful learning and thus teachers are encouraged to use them. A guided-discovery method involves an unstructured exploration in some problem-solving experiences in which students can draw general conclusions from data gathered through measuring, classifying, inferring, predicting, communicating, analyzing, clarifying, describing and formulating relevant questions (Moses, 2013). Discovery method is a teaching technique that encourages students to take a more active role in their learning process by answering series of questions or solving problems designed to introduce general concepts (Mayer 2014). Discovery method therefore refers to how much guidance a teacher should give students in learning Financial Accounting at NCE level. Furthermore, guided discovery method of teaching; problem solving method of teaching can also be employed in teaching Financial Accounting. Problem-solving competencies are the knowledge, skills and general disposition or attitudes which individuals need, to be able to identify and tackle observed or perceived problems in the environment with a view to finding solutions to them. An individual with the requisite knowledge, skills and disposition to identify and solve a problem is said to be competent in that area of socio-economic life (Smith in Ishaku, 2015). A number of problem-solving models have been proposed in the learning of different aspects of vocational education (Financial Accounting inclusive). A teacher of Financial Accounting can use any method of teaching, most especially guided discovery or problem solving teaching methods. The primary objective is to bring about better academic performance in the learners after the teaching and learning encounter. Academic performance refers to what students achieve in their studies and how they cope with or accomplish different learning experiences expected of them by their teachers. Ibrahim (2011) reports that in educational institutions, success is measured by academic performance, or how well a student meets the standards set out by the institution. Academic performance according to Morgan (2010) is an assessment strategy by which the evidence about students learning is gathered through students work on a performed task. It is an observable or measurable behavior of a person in a particular situation usually experimental situation.