Federal Curriculum for Business Senior Secondary School. SS 3 Financial Accounting Scheme of Work First term and Second term – Schemeofwork
FINANCIAL ACCOUNTING SS3 FIRST TERM
| WEEK | TOPIC/CONTENT | ACTIVITIES |
| 1 | PURCHASE OF BUSINESS ACCOUNT; MeaningTerminologiesPreparation of purchase of business in purchaser’s books; journal entry. | Teacher explains the meaning of purchase of business, lists and explains the terminologies used in purchase of business account, guides the learners in preparing the journal entries and the ledgers. Students write short note on purchase of business account, practice some exercises on purchases of business account. Resources; charts, purchase of business account format. |
| 2 | FURTHER TREATMENT OF PURCHASE OF BUSINESS Vendor’s accountBalance sheetPreparation | Teacher explains the meaning of purchase of business, lists and explains the terminologies used in purchase of business account, guides the learners in preparing the journal entries and the ledgers. Students write short note on purchase of business account, practice some exercises on purchases of business account. Resources; charts, purchase of business account format. |
| 3 | HIRE PURCHASE AND INSTALLMENT PAYMENT ACCOUNTS; Definition, types of goods on hire purchaseTerminologiesOperation of hire purchase systemCalculation of interest charge. | Teacher guides the students, explains their term hire purchase, types of goods on hire purchases, the operation and importance of hire purchase to the vendor and the hirer, prepare hire purchase and installmental payment account. Students write short notes on the operation and importance of hire purchase, group discussion on hire purchase and installmental payment transaction, prepare hire purchase and installmental payment accounts. Resources; charts, pictures, invoice documents. |
| 4 | HIRE PURCHASE ACCOUNT Preparation of hire purchase accountThe hirer’s booksThe vendor’s books | Teacher guides the students, explains their term hire purchase, the operation and importance of hire purchase to the vendor and the hirer, to prepare hire purchase and installmental payment account. Students write short notes on the operation and importance of hire purchase, group discussion on hire purchase and installmental payment transaction, prepare hire purchase and installmental payment accounts. Resources; charts, pictures, invoice documents. |
| 5 | CONSIGNMENT ACCOUNT; Meaning/definition Terminologies Preparation of account sales. | Teacher discusses consignment account and its terminologies, guide students to prepare consignment account. Students listen and react by asking questions, take part in the preparation of the consignment account. Resources; chart, pictures, and invoice documents. |
| 6 | CONSIGNMENT ACCOUNT; Entries in the books of consignor (preparation). Goods sent on consignment acct.Consignee’s accountTrading, profit and loss account. | Teacher discusses consignment account and its terminologies, guide students to prepare consignment account. Students listen and react by asking questions, take part in the preparation of the consignment account. Resources; chart, pictures, and invoice documents. |
| 7 | JOINT VENTURES ACCOUNT Meaning/definitionDifferences between partnership and joint ventures | Teacher guides the students to explain joint ventures account, distinguish between joint ventures and partnership, prepare joint venture account. Students write short notes on joint ventures, differentiate between joint ventures and partnership, and prepare joint venture account. Resources; chart, flash card. |
| 8 | JOINT VENTURES ACCOUNT Preparation of joint venture accountsIndividual’s accountJoint venture memorandum account. | Teacher guides the students to explain joint ventures account, distinguish between joint ventures and partnership, prepares joint venture account. Students write short notes on joint ventures, differentiate between joint ventures and partnership, and prepare joint venture account. Resources; chart, flash card. |
| 9 | DEPARTMENTAL ACCOUNT Meaning/definitionBasis for apportionment of expensesAdvantages of departmental account. | Teacher guides the students to explain joint ventures account, distinguish between joint ventures and partnership, prepare joint venture account. Students write short notes on joint ventures, differentiate between joint ventures and partnership, and prepare joint venture account. Resources; chart, flash card. |
| 10 | DEPARTMENTAL ACCOUNT Preparation of trading, profit and loss accountStressing departmental transferPreparation of departmental balance sheet. | Teacher explains the meaning of departmental accounts discusses the advantages and the need for departmental account, prepares departmental account. Students write short notes on the meaning, need and advantages of departmental account, participate in the preparation of departmental account. Resources; chart, flash card. |
| 11 | BRANCH ACCOUNT Description of branch organizationTypes of branch; local and foreignImportance of branch accountDifference between branch and departmental organization. | Teacher guides the students to explain and differentiate between departmental and branch accounts, explain the difference between local and foreign branch, state the importance of branch account, prepare branch account. Students listen to teacher and react by taking notes, distinguish between local and foreign branch, observe and prepare branch account. Resources; chart, pictures, invoice and document. |
| 12 | BRANCH ACCOUNT Preparation of branch accountHead office booksBranch office books. | Teacher guides the students to explain and differentiate between departmental and branch accounts, explain the difference between local and foreign branch, state the importance of branch account, prepare branch account. Students listen to teacher and react by taking notes, distinguish between local and foreign branch, observe and prepare branch account. Resources; chart, pictures, invoice and document. |
| 13 | Revision | Revision |
| 14 | Examination | Examination |
Federal Curriculum for Business Senior Secondary School. SS 3 Financial Accounting Scheme of Work First term and Second term – Schemeofwork
FINANCIAL ACCOUNTING SS 3 SECOND TERM
| WEEK | TOPIC/CONTENT | ACTIVITIES |
| 1 | CONTRACT ACCOUNT Meaning of contract accountTerminologies usedPreparation in the proprietor’s book for each contractPreparation in the contractor’s books. | Teacher guide the students to explain contract account items, prepare contract account. Students participate during explanation, work examples on contract account. Resources; charts, diagrams. |
| 2 | PUBLIC SECTOR ACCOUNT Sources of government revenueTerminologies used;Head, sub-head, estimate etcClassification of expenses.Capital expenditureRecurrent expenditurePreparation of public sector accountCapital expenditure accountRevenue accountRecurrent expenditure account. | Teacher guides the students to identify various sources of government revenue, explain and distinguish between capital and recurrent expenditures, list the items in capital and recurrent expenditures, explain the uses of revenue by the government, prepare public sector accounts. Students identify sources of government revenue, write the differences between capital and recurrent expenditures, state at least five ways government uses its revenue, list the items on capital and recurrent expenditures, participate in the preparation of public sector accounts. Resources; charts, pictures, federal/states government’s budget, publications on revenue allocation by federal government, publications by federal, state and local government. |
| 3 | INTRODUCTION TO DATA PROCESSING Meaning/definitionThe computer;Hard ware systemSoft waresInstallation; factors to be considered.Application in an accounting environmentAdvantages/disadvantages of computerIntranets and internet;- advantages and disadvantages. | Teacher explains the meaning of date processing , discusses the computer hardware and software, ask the students to mention the factors to be considered in computer installation, list the application in an accounting environment, explain the advantages and disadvantages of computers, differentiate between intranet and internet, state the advantages and disadvantages of intranet. Students pay attention to the meaning of data processing, write short notes on the following; hardware and software application in an accounting environment, factors to be considered in computer installation, intranet and internet. Resources; pictures, computer set/laptop computer, resource person. |
| 4 | Revision | Revision |
| 5 | Examination | Examination |
