SSS1 Financial Accounting Scheme of Work First Term
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
1
Introduction to financial accounting Meaning of book keeping -meaning of financial accounting -differences between book keeping and financial accounting Importance of accounting
By the end of the lesson, students should be able to: I] define book keeping and accounting Ii] compare and contrast between book keeping and accounting Iii]justify the study of financial accounting
-students as a class explain what book keeping and accounting is -students in small groups draw up similarities and differences of book keeping and accounting with the group leader to present -students in pairs analyse and share the importance of financial accounting -whole class to visit this link for history of accounting https://www/investopedia.com/articles/08/accounting-history.asp
-collaboration and communication -critical thinking and problem solving -leadership and personal development -digital literacy
History of Accounting worldwide and Nigeria users of accounting information -internal and external users and their needs of accounting information
By the end of the lesson, students should be able to: [i] narrate the emergence of accounting worldwide and Nigeria specifically Ii] enumerate the beneficiaries of accounting information Iii] identify the needs of both internal and external users
-students to present in small groups, he present evolution of accounting worldwide and in Nigeria -students as a class discuss the beneficiaries of accounting information -students in pairs explain the qualities of a good accounting information
-Critical thinking and problem solving -Collaboration and Communication -leadership and personal development
Advantages and limitations of accounting –accounting process cycle -identify and analyzing business transactions and events -recording in the journals -posting to the ledger Extraction of trial balance Preparation of financial statements
By the end of the lesson, students should be able to: I] recapitulate the features of Accounting information Ii] explain the accounting process cycle in correct order Iv] justify the order of accounting process cycle
-students in small groups presentations groups A: merits and demerits of accounting Group B: analyse accounting process cycle Group C: explain extraction of trial balance from ledger balances -students in pairs to explain accounting cycle
-Critical thinking and problem solving -Collaboration and Communication -leadership and personal development
Audio –visual Resources Accounting process charts Posters on accounting process cycle Concept mapping of accounting process cycle Web Resources https://www.investopedia.comhttps://www.topper.com Peachtree accounting
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
4
Career opportunities in book keeping and accounting Accounting professional bodies Accounting professional ethnics
By the end of the lesson, students should be able to: I] list out current opportunities in book keeping and accounting Ii] mention professional bodies regulating accounting profession in Nigeria
Mention their future careers -students in pairs mention accounting professional bodies in Nigeria and outside Nigeria -students in small group mention qualities of a good accountant
Communications -critical thinking and problem solving -leadership and personal development
Resources Magazines cuttings on pictures of professionals in business sector Web Resources Wwww.allacounting.careers.com https://www.ifac.org
5
Accounting equation and double entry -purpose and functions of source documents -introduction to subsidiary books Meaning of subsidiary books, types of subsidiary books
By the end of the lesson, students should be able to: I]state original accounting equation and reorganize it Ii] identify and apply the double entry principle in posting business transaction Iii] paraphrase the meaning of source document
-students in small groups mention assets and facilities of a business -students in pairs explain the meaning and functions of source documents Students as a class explain the meaning of subsidiary books and give the types of subsidiary books
Critical thinking and problem solving -communication and collaboration Leadership and personal development
Sales journal and purchases journals return inwards journals and return outwards journal Cash book
By the end of the lesson, students should be able to: I] outline various sources documents Ii] prepare sales and purchases day books Iii] post transactions into return inward and return outward journals
Individual students bring samples of cheque leaves Invoice , receipts, pay in slip, withdrawal slip, point of sales machine ATM card etc Students in small groups, discuss the uses of source documents brought by the students -students as a class post entries into sales and purchases day books
-critical thinking and problem solving -digital literacy -leadership and personal development
Audio-visual resources Format of the journals and cash book Illustrate questions and real objects Using Excel to draw the formats Real objects such as cheque leaves, invoice , receipts, withdrawal slip, ATM machine and POS machine Web resources https://corpoeratefinancieinstitute.com YouTube: Accounting instruction/bean
Working exercises on sales journal and return inwards journal -working exercises on purchases journal and return outward journals
By the end of the lesson, students should be able to: I] solve problems on subsidiary books of account Ii] explain the meaning and types of discounts Iii] calculate the trade discount on the journal
-students in small groups, identify various subsidiary books -students as a class post transactions to various subsidiary books -students in pairs to explain discounts and types
collaboration and communication -critical thinking and problem solving -leadership and personal development
Audio-visual resources Real sales journal Illustrative questions Charts YouTube, accounting Instruction/bean Counter using Excel to prepare journal
9
The ledger Classifications of accounts Cash book-meaning and types Single column cash book
By the end of the lesson, students should be able to: I] use concept mapping to classify ledges into personal, impersonal and private Ii] define cash book Iii] identify the types of cash book Iv] explain the use of each column cash book
-students in small groups , classify ledgers with adequate examples -students in pairs define cash book and the types -students as a class work exercise on single column cash book
collaboration and communication -critical thinking and problem solving -digital literacy
Audio-visual Resources Diagram showing the classification of ledgers Real cash book Improvise cash book Web Resources https://www.wallstreetmojo.com YouTube: Ca Naresh Aggarwal using Excel to prepare cash book currency notes
10
Cash book-double column cash book
By the end of the lesson, students should be able to: I] define cash book Ii] identify the format of double column cash book Iii] explain contra entries Iv] prepare double column cash book
-students in small groups display lodgments and withdrawal of cash from bank -students in pairs prepare double column cash book -students as a class balance up the two column cash book
Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and personal development
Audio-visual resources Cash book, cheque leaves Web resources https://www.wallstreetmojo.com youtube: c.a.naresh Aggarwal using Excel to prepare Two column cash book
11
Discounts-meaning Types, reasons for granting discount -calculation of discounts
By the end of the lesson, students should be able to: I] explain the term discounts , identify the types of discounts , state the features of each types , justify the reasons for granting discounts Calculate discounts granted on a transaction
-students as a class explain the meaning and types of discounts -students in pairs to justify the reasons for discounts -students as a class calculate discounts
-critical thinking and problem solving -Digital literacy -leadership and personal development
Audio-Visual Resources Flash cards, graphs A sample question Web resources https://www.accountingbooks.com using Excel to calculate discount
12
Revision
13 &14
Examination Examination
Access Free Lagos StateSenior Secondary School Financial Accounting Scheme of work for SSS1. SS1 Syllabus –Schemeofwork.com
Financial Accounting Scheme of Work SSS1 Second Term
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
1
Welcome test and cash book-three column cash book working exercise on three column cash books
By the end of the lesson, students should be able to: I] post transactions into three column cash book Ii] balance up the three column cash book
-students as a class post entries to the three column cash book -students as a class balance up the three column cash book
-Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and personal development
Audio-Visual Resources Recall /improvised cash book Display of work on the topics Web resources https://www.wallstretmojo.com youtube ca Naresh Aggarwal currency notes, using excel to prepare three column cash book
2
Cash book three column cash book working exercise
By the end of the lesson, students should be able to: I] post complex transactions into three column cash book Ii] balance up the three column cash book
-Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and personal development
Audio-visual Resources Real/improved cash book Display of work on the topics Web Resources https://www.wallstreetm.ojo.com YouTube c.a. Naresh Aggarwal using Excel to prepare three column cash book
3
Petty cash book Meaning -terminologies Imprest system Reimbursement and working exercises
By the end of the lesson, students should be able to: I] regulate the meaning of petty cash book and terminologies associated with petty cash book Ii] explain the concept of imprest system Iii] demonstrate the concept of reimbursement Iv] prepare a typical petty cash book
-class presentation on the process of imprest system -students as a class, prepare petty cash book -student as individual post entries to the petty cash book and calculate how much float is given
-Critical thinking and problem solving -Digital literacy -Leadership and personal development
Audio-visual Resources Poster on the format of petty cash book Picture of a petty cashier, real or improved petty voucher Reimbursement demonstrated in practical term Web Resources https://www.accounting.formanacement.org using Excel to prepare petty cash book
4
Posting subsidiary books into ledges cash book, sales day book, purchases day book, return inwards and return outwards
By the end of the lesson, students should be able to: I] transfer entries in subsidiary books to ledgers
Students in small groups post entries from subsidiary books to ledgers
Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and
Ii] balance up the ledgers Iii] configure the format of journal proper
Personal development
5
Trial balance Meaning , uses Rules for extraction, extraction of trial balance Working exercises
By the end of the lesson, students should be able to: I] explain the meaning of trial balance Ii] discuss the rules guiding the extraction of trial balance Iii] extract a trial balance
-students in pairs to I] define trial balance Ii] discuss the rules for extracting trial balance -students as a class prepare trial balance -students to visit the link below to study on accounting concepts and conventions https://www.termscomspared.com/differencebetween accounting concepts and accounting conventions
-critical thinking and problem solving -digital literacy Leadership and personal development
Audio –Visual Resources Real /improvisd trial balance Flex showing rukes forextraction Web resources Wikipedia Youtube willey YouTube-accounting stuff Using Excel to prepare trial balance
6
Accounting concepts and conventions Meaning and types of accounting Concepts Meaning and types of accounting convention
By the end of the lesson, students should be able to: I] write out accounting concepts and conventions Ii] distinguish between accounting concepts and conventions Iii] justify the need for accounting concepts and conventions
Students as a class explain accounting concepts and conventions and the types -students in small groups draw up the differences between accounting concepts and conventions -students in pairs explain the reasons for accounting concepts and conventions
Critical thinking and problem solving -leadership and personal development
Audio-visual resources Flash cards, currency, class presentation Tabular format of differences between accounting concepts and conventions Web resources https://www.tutor2u.net
7
Mid-Term Break
Mid-term Break
Mid-Term Break
8
Final accounts of a sole trader -trading profit or loss account –meaning , reasons, format
By the end of the lesson, students should be able to: I] define trading profit or loss account Ii] construct a trading profit or loss account from an illustration Iii] interpret the end result in trading , profit or loss account
-students in pairs define trading profit or loss account -students as a class, prepare trading , profit or loss account -students in small groups interpret the end result in the trading , profit or loss account prepared
Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and personal development
Audio-visual resources Published final account of a trading organization format, flash cards Web Resources YouTube-ca. Naresh Aggarwal https://www.playcounting.com using Excel to prepare the final accounts
9
Balance sheet Meaning and format Assets and liabilities Working exercises on final accounts
By the end of the lesson, students should be able to I] describe balance sheet in your own words Ii] state the purposes of balance sheet Iii] explain with adequate examples assets and liabilities
-students in pairs give the meaning of balance sheet Students as a class , state the purposes of balance sheet -students in small groups, explain with examples. Assets and liabilities and prepare a balance sheet
Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and personal development
Audio-visual resources Format of balance sheets, flash cards, cuttings of balance sheets in published account Web Resources Youtube-ca.Naresh Aggarwal
Simple accounting ratio-meaning, types and working exercise
By the end of the lesson, students should be able to: I] appraise the need for adjustment to final account Ii] compare and contrast between types of reserves Iii] discriminate between provisions and reserves
-students as a class explain adjustment and give reasons for adjustments -students in small groups compare the types of reserves -students in pairs draw up the differences between provisions and reserves
-critical thinking and problem solving -Digital literacy -leadership and personal development
Audio –visual resources Published final account of organizations Posters showing a typical format, flash card, students’ presentation on the topics, class work YouTube –Accounting stuff
12
Revision
13
Examination
Access Free Lagos StateSenior Secondary School Financial Accounting Scheme of work for SSS1. SS1 Syllabus –Schemeofwork.com
Financial Accounting Scheme of Work SSS1 Third Term
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
1
Welcome test and introduction to depreciation of fixed assets
By the end of the lesson, students should be able to: I] students to define depreciation of fixed assets Ii] mentions some fixed assets
Students as a class give examples of fixed assets -students in pairs define depreciation of assets
Critical thinking and problem solving Leadership and personal development
Web resources https://www.accountingnotes.net audio –visual resources real objects such as bags, school uniforms , sandals
2
depreciation of fixed assets, meaning, reasons, elements, causes, characteristics of depreciation fixed assets, types of assets and nomenclature of their depreciation Assets Nomenclature of Reduction in value Fixed depr Assets on Current nill Assets nill Liquid depi Assets Wasting amo Ritization Tangible Fictious assets
By the end of the lesson, students should be able to: I] justify the reasons for depreciation Ii] explain the causes of depreciation Iii] enumerate the characteristic of a depreciable asset Iv] compare the nature of types of assets
-students as a class justify the reasons and causes of depreciation -students in pairs, mention the characteristics of depreciable assets -students in small groups compare the nature of types of assets
Critical thinking -collaboration and communication -leadership and personal development
Audio-visual resources Old and new furniture’s in the school Chart showing various types of assets in value Pictures of old and new vehicles Furniture, building, school bus, computers, etc Web Resources https://www.investopedia.com
3
Methods of depreciation Straight line and reducing balance Methods-meaning, merits and demerits of each method Depreciation schedule
By the end of the lesson, students should be able to: I] graphically represent the methods of depreciation Ii] describe in details straight line method and reducing balance method Iii] compare and contrast the merits and demerits of each method
-students in small groups, mention the methods of depreciation -students in pairs, explain straight line and reducing balance methods -students as a class compare and contrast the merits and demerits of each method
Critical thinking and problem solving -leadership and personal development
Audio-Visual Resources Charts showing various method Concept mapping on methods of depreciation Web resources https://courses/jumentsarming.com
4
Working exercise on straight line and reducing balance methods
By the end of the lesson, students should be able to: I] prepare depreciation schedule
-students in pairs draw up a depreciation schedule -students as a class, complete depreciation
Critical thinking and problem solving -leadership and personal
Audio-Visual Resources Display of depreciation schedule , videos on the working of depreciation
Sum of the year digit, revaluation and other methods
By the end of the lesson, students should be able to: I] explain sum of the year digit and revaluation method Ii] calculate depreciation using sum of the year digits and revaluation digits and revaluation methods
-students in small groups, explain sum of the year digits and revaluation methods -students as a class , calculate depreciation using sum of the year digits and revaluation methods
-Critical thinking and problem solving -leadership and personal development
Accounting for provision for depreciation (new method)i.e. assets accounts provision for depreciation , profit and loss account extract and balance sheet
By the end of the lesson, students should be able to I] post the accounting entries to ledgers using the modern method of providing for depreciation Ii] show the treatment in profit or loss account and balance sheet Iii] prepare disposal of fixed assets account
Students as a class post entries into ledgers using the modern method of providing for depreciation -students in pairs explain the treatment of depreciation in profit or loss account -students in small groups , explain the treatment of disposal of assets in final account
-Critical thinking and problem solving -leadership and personal development
Audio-visual Resources 1] Illustrative question 2] flash cards of necessary accounts Web Resource Https://www.playaccount.com Using Excel to draw the formats of the accounts
7
Mid-Term Break
Mid Term Break
8
Preparation of final necessary end of the year adjustments
By the end of the lesson, students should be able to: I] itemize end of the year adjustments Ii] prepare final account with adjustments Iii] show the effects of adjustments in profit or loss account and balance sheet
Students in small groups, list end of the year adjustments -students as a class, prepare final account with adjustments and also show the effects of adjustments in profit or loss account and balance sheet
Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and personal development
Audio-Visual Resources Published account booklets of trading organizations illustrative questions Web Resources https://www.earnaturdesk.blogspot.com using Excel to prepare final account
9
Departmental account meaning, reasons basis of appointment and interdepartmental transfer
By the end of the lesson, students should be able to: I] describe departmental account Ii] determine the basis of common expenses appointment Iii] post entries into departmental trading profit and loss account
-students as a class go for excursion to business organization with different sectors under the same roof -students in pairs explain basic of appointment of expenses -students as a class
Critical thinking and problem solving -Collaboration and Communication Digital literacy -leadership and personal development
Audio-visual Resources Display of format of departmental account field trip to departmental stores https://www/yourarticlebrary.com using Excel to draw the formats of departmental account
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
Prepare departmental trading , profit or loss account
10
Bank reconciliation Statements , definition, reasons, terminologies and methods
By the end of the lesson, students should be able to: I] define Bank reconciliation statement and inter the meaning of Bank statement Ii] identify causes of disagreement between cash (bank column only) and bank statement Ii] interpret bank statement
Students as a class, explain the term reconciliation and define bank reconciliation -students in pairs, explain Bank statement by way of interpretation of bank, statement -students in small groups, explain Bank statement by way of interpretation of bank, statement -for further study visit https://www.lopr.com/guides/principles and practices of accounting/bank reconciliation Statement/nitro-and-importance
collaboration and communication -critical thinking and problem solving -leadership and personal development
Audio-visual resources Cheque book and bank statement, cheque club Web resources https//www.lopr.com Peachtree accounting Software-banking
11
Working exercise on bank reconciliation statement
By the end of the lesson, students should be able to: I] adjust cash book Ii] reconcile cash book with bank statement using different methods
Students as a class prepare bank reconciliation statement -students in small groups prepare bank reconciliation statements using the three methods
Critical thinking and problem solving -leadership and personal development
Audio-visual resources Format of bank reconciliation statement Web resources https://www.toppr.com
12
Revision
13.
Examination
ACHIEVEMENT STANDARDS
At the end of SS1 session, students are able to:
I] under the basic accounting principles, apply the principle to prepare basic accounting ledgers
iii] Interpret and analyse financial transactions with a view to produce meaningful account information
iv] Prepare final accounts with necessary adjustments for trading organization
v) Reconcile bank account at any organization with the bank statement at any given period.
vi] Classify assets and identify the nomenclature of their depreciation, use appropriate methods to depreciate fixed assets and evaluate its effect on financial statement
