SSS2 Financial Accounting Scheme of Work First Term
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
1
Welcome test/correction of errors -suspense account -errors the trial balance cannot disclose
By the end of the lesson, students should be able to: I] define errors Ii] explain suspense account Iii] itemize errors that trial balance will not disclose
-students as a class define errors and explain suspense account -students in pairs apply the rules to prepare trail balance -students in small groups, discover mistakes
collaboration and communication -critical thinking and problem solving -leadership and personal development
Audio –visual resources Flash cards Web Resources https://www.acaglobal.com
3
Effects of errors on reported profit and working exercises
By the end of the lesson, students should be able to: I] justify the effects of the errors on reported profit accounts
-students work together as a team (whole class) to do exercises -students in small groups declare hypothetical profit on a given illustration -students in pairs evaluate the profit declared based on the correction made
collaboration and communication -critical thinking and problem solving -leadership and personal development
Audio-visual resources Field trip to manufacturing organization Web Resources https://www.toppr.com
5
Manufacturing account, trading profit or loss accounts with balance sheets and working exercises
By the end of the lesson, students should be able to: I] describe manufacturing account Ii] prepare manufacturing trading, profit or loss account and balance sheet
-students two groups for class presentations -selected students act as manufacturer and trader -students in small groups take records of their trading activities in the appropriate books
collaboration and communication -critical thinking and problem solving -leadership and personal development
Audio-visual resources Project on a simple item manufacturing process and the preparation of its account https://www.kullabs.com using Excel to prepare manufacturing Account
6
Manufacturing accounts-treatment of manufacturing profit (marked value) with trading, profit or loss account and balance sheet
By the end of the lesson, students should be able to: I] illustrate the meaning of market value Ii] calculate the market value Iii] deduce profit on manufacturing account
Students in small groups, explain market value Students as a class calculate market value of a given illustration Students as a class prepare manufacturing account
Collaboration and communication Leadership and personal development
Audio-Visual Resources Class presentation , illustration questions YouTube, Mera skill & study vids Using Excel to prepare manufacturing Account
7
Mid Term Break
Mid-term Break
Mid-Term Break
8
Control account and self balancing ledger Meaning of control account Reasons for control account -limitations of control account Types of control account -sales ledger control account -purchases ledge control account Sales ledger control account-meaning purpose/uses , terms e.g contra settlement/set off
By the end of the lesson, students should be able to: I] explain control account Ii] state the reasons for control account iii] outline the limitations of control account Iv]write out the types of control account V]describe sales ledger control account and purchases ledged control account Vi]explain set off/contra settlement
Students groups to explain control account Students as a team (whose class) explain reasons and the limitations of control account Students in pairs describe purchases control and sales ledger control account and explain set off
Collaboration and Communication Leadership and personal development
Audio –Visual Resources Invoices, charts showing the formats flash cards Posters on a typical sales and purchases ledger control account Web Resources Https://study.com YouTube: pro tutor Using Excel to prepare ledgers
9
Sales ledger control account Format and working exercises purchases ledger and control account Meaning uses/purposes, terms, format and working exercise
By the end of the lesson, students should be able to: I]identify the debit and credit items of sales ledger control account and purchases ledger control account Ii] pinpoint items for sales ledger control account as district from purchases ledger control account
Students in pairs explain who a debtor and a creditor are Students in small groups mention items in the debtors and creditors accounts Students in pairs post items to control accounts
Critical thinking and problem solving Leadership and personal development
Audio-visual Resources Format, illustrative questions , presentation by the students Web Resources https://study.com YouTube pro tutor using Excel to prepare control account
10
Introduction to single entry and incomplete records Meaning limitations, statement of affairs
By the end of the lesson, students should be able to: I] define single Ii] inter the meaning of incomplete records Iii] write the limitations of single entry
Students as a class state the principles of double entry Students in pairs, explain single entry Students as a class observe to mention the benefits of one over the other
Collaboration and communicationCritical thinking and problem solving
Financial Accounting Scheme of Work SSS2 Second Term
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
1
Welcome test and single entry -determination of opening and closing capital
By the end of the lesson, students should be able to: I] explain capital Ii] determine opening and closing capital Iii] deduce profit or loss made
Students as a class explain capital -students in pairs determine the capital -students as a class determine the profit or loss
-critical thinking and problem solving -collaboration and communication -leadership and personal development
Audio –visual resources Flex showing the format of statement of profit or loss
2
Single entry incomplete records Determination of profit or loss from statement of affairs Preparations of trading , profit or loss accounts and balance sheets from incomplete records Convention of single entry to double entry steps to conversion
By the end of the lesson, students should be able to: I] determine the profit or loss using statement of affairs Ii] prepare trading profit & loss account and balance sheets Iii] itemize the steps of conversion from single entry to double entry
-students in small groups make presentation on the rules of double entry system -students in small groups, apply the rules of conversion from single to double entry and make presentations -students in pairs display preparation of financial statement
Critical thinking and problem solving -collaboration and communication -leadership and personal development
Audio-visual Resources Class presentation, format of steps, involved A chart showing format of final account Web Resources https://www.toppr.com YouTube: i] Ahmed Raza Dharolia and ii] easy CBSE commerce lecture using Excel to prepare final account
3
Accounts of non-profit making organization Meaning terminologies, receipts and payments account features and format
By the end of the lesson, students should be able to: I] define accounts of non-profit making organizations Ii]give examples of clubs and societies in your school Iii] explain receipt and payment account
Collaboration and communication -leadership and personal development
Audio-Visual Resources Societies and clubs in the school Currency notes, income received, expenses made Web Resources https://www.youarticlelibrary.com
4
Working exercises on receipts and payments accounts Demonstration of accumulate fund and treatment of subscriptions and other normal ledgers in arrears and in advance
By the end of the lesson, students should be able to: I] write out the procedure for determination of accumulated fund Ii] explain subscriptions Ii] prepare receipts and payments account
Students as a class write out the procedure for determination of accumulated fund Ii] explain subscriptions Iii] prepare receipts and payment account
-collaboration and communication Leadership and personal development Digital literacy
Audi-Visual Resources Format, posters of worked example Web Resources https://www.yourarcticlelibrary.com using Excel to prepare Receipt and payment account
5
Receipts and payments account, income and expenditure account Meaning , rules similarities and differences between receipts and payments account and income and expenditure
By the end of the lesson, students should be able to: I] recall the meaning of income and expenditure account Ii] state the rules for receipts & payments accounts and income & expenditure account
Students as a class, mention the accounts prepare by not-for profit making organization Students in small groups, explain each of the accounts mentioned Students in small
Critical thinking and problem solving Collaboration and communication Leadership and personal development
Iii] give the similarities of receipts & payment and income & expenditure account Iv] distinguish between receipts & payment account and income & expenditure
Groups make presentation on the differences between the account mentioned
6
Presentation of income & expenditure account and balance sheet with working exercises
By the end of the lesson, students should be able to: I] identify the procedures involved in the preparation income and expenditure account draw up income and expenditure account Ii] determine the surplus or deficit from the account Iii] prepare balance sheet
Students as a class state the procedures for positing items to income and expenditure accounts Students in pairs follow the procedures to prepare income and expenditure accounts and balance sheetsStudents as a class determine surplus and deficit
-critical thinking and problem solving -leadership and personal development
Introduction to partnership account -meaning types of partnership -partnership deeds/agreement terminologies
By the end of the lesson, students should be able to: I] define partnership account Ii] differentiate between fixed/current method and fluctuating method of preparing partner’s account
Students as a class explain the formation of partnership business Students are grouped to different classes of partners Students in pairs differentiate between fixed and fluctuating capital accounting
Collaboration and communication Critical thinking and problem solving Leadership and personal development
Audio-Visual Resources Format flashcard Students for illustration
9
Partnership account partners capital account -partners appropriate account Format and working exercises
By the end of the lesson, students should be able to: I] prepare partnership account Ii] differentiate between fixed /current method of preparing partner’s account
Students as a class mention the accounts to be prepared in a partnership business Students in pair, explain each of the accounts mentioned Students in small groups make presentation on differences between each of the accounts
Collaboration and communication Critical thinking and problem solving Leadership and personal development
Partnership account Admission of new partners, terminologies, valuation of assets, goodwill account, meaning and treatment of goodwill, accounting entries for
By the end of the lesson, students should be able to: I] prepare partnership goodwill account after the admission of partners Ii]interpret the concept of goodwill
Students as a class explain the circumstance for the admission of new partners Students in pairs mention the account involve on admission of new partners
Collaboration and communicationCritical thinking and problem solving Leadership and personal development
Students in small groups make presentations on goodwill and its circumstances
11
Revision
12
Examination
13
Examination
Access free Unified Financial Accounting Scheme of work for SSS2. SS2 Accounting Syllabus for Senior Secondary School Lagos State –Schemeofwork.com
Financial Accounting Scheme of Work SSS2 Third Term
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
1
welcome test Dissolution of partnership reasons of dissolution
By the end of the lesson, students should be able to: I] state reasons for dissolution Ii] evaluate the effect of partnership Dissolution on the economy
Students as a class explain the meaning of dissolutionStudents in groups state features for dissolution partnership
Collaboration and communication Critical thinking and problem solving Leadership and personal development
Audio-visual Resources Students for illustrating format, flashcards Web resources https://www.toppr.com
2
Dissolution of partnership –entry requirement in closing the firm’s books of account (settlement account)
By the end of the lesson, students should be able to: I] prepare partnership dissolution accounts Ii] close books of accounts of the firms
Students as a class mention the accounts to prepare in the event of liquidation of partnership business Students as a class brainstorm on the procedures involved to close the records of the business Students as a class apply the procedures to close the business books of accounts Students to visit youtube https://www.youtube.com
Critical thinking and problem solving Collaboration and communication Digital literacy Leadership and personal development
Audio-visual Resources Students for illustration Format, flashcards
3
Company accounts formation of company -types of company Quoted and unquoted companies -terminologies i.e memorandum of association, articles of association & prospectus etc.
By the end of the lesson, students should be able to: I]define company in line with CAMD 90 Ii] differentiate between quoted and unquoted companies Ii] list out essential documents needed for company registration. Justify reasons for company registration
Students in small groups define company account and registration of a company Students as a class mention requirement to enlist a company into SEM Students in pairs justify the reasons for company registration
Collaboration and communication Critical thinking and problem solving
Audio-visual Resources Format flashcards Published account of a limited liability company Peachtree software (company report)
4
Company account preparation of company income statement -trading profit & loss and appropriation account of company
By the end of the lesson, students should be able to: I] prepare income statement of a company Ii] pinpoint the difference in company income statement and that of a sole trader and partnership business
Students small groups to prepare income statement of sole trader and company Students in pairs discuss the differences between sole trader and company income statement
Critical thinking and problem solving Collaboration and communication Leadership and personal development
Audio-visual Resources Students for illustration Format using Excel flashcards Web resources https://corporatewatchh.org
5
Balance sheet vertical & T Formats
By the end of the lesson, students should be able to:
Students as a class mention business assets and liabilities
-critical thinking and problem solving -leadership and
Audio-Visual Resources Format using Excel
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
I] recall the format in vertical &’T’ Form
-Students in small groups, identify the items in the balance sheet of a company
Personal development
Real objects as motor vehicles, building, furnitures, etc. Peachtree software (Financial statement)
6
Issue of shares and debentures Meaning of shares, Types of shares, issue of shares, distinction between classes of shares , issues of shares at par, discount and premium
By the end of the lesson, students should be able to: I] explain shares and debentures Ii]compare & contrast between shares and debentures Iii] classify shares into different forms Iv] identify the right of each type of shareholder in the company V] enumerate the various share pricing
Students as a class explain share and debenture Students in small groups demonstrate company invitation to the public to subscribe for its share Students pairs up to classify shares into different forms Students in small groups, enumerate the various shares pricing
Collaboration and communication Critical thinking and problem solving Leadership and personal development
Preparation of accounts for issues of shares at par, discount and premium, bonus shares, right issues, issues of shares payable by installment
By the end of the lesson, students should be able to: I] draw out stages involves installment payment of shares Ii] differentiate between and among right issues , bonus shares, forfeited shares, re-issue shares
Students in pairs explain installment payment of sharesStudents as a class explain diverse ways of issuing shares to the public at different prices Students as a class, demonstrate different ways of payment for subscribed shares
-critical thinking and problem solving -communication and collaboration Leadership and personal development
Audio-visual Resources Flex showing formats preparations of various relevant accounts using Excel
9
Preparation of accounts relating to issue of all classes of shares
By the end of the lesson, students should be able to: I] prepare issue of shares account when a. Payments on application b] installment payment
Students in small groups demonstrate recording of shares subscribed in the company books of accounts. Students as a class prepare issue of shares account
Collaboration and communication Critical thinking and problem solving Leadership and personal development
Interpretation of financial statement using simple ratios, uses of ratios, disadvantaged of ratios, types of ratios Profitability and efficiency and efficiency ratio, liquidity and investment ratios
By the end of the lesson, students should be able to: I] define accounting ratios Ii] state the uses of accounting ratios Iii] identify the formulae of profitability , liquidity and investment ratios Iv] determine profitability, liquidity and investment ratios of a typical organization
Students as a team (whole class) define accounting ratios. Students compare their performances from one term to another. Students discuss possible reasons for decrease or increase in their performances. Students as a class determine profitability, liquidity and investment rations and interpret the result
Critical thinking and problem solving Collaboration and communication Leadership and personal development
Audio –visual resources Published accounts of company , showing the ratios
WKS
TOPICS
LEARNING OBJECTIVES
LEARNING ACTIVITIES
EMBEDDED CORE SKILLS
LEARNING RESOURCES
V]interpret the result Vi] state the limitations of the use of accounting ratios
11
Working exercises on the types of ratios
By the end of the lesson, students should be able to: I] deduce the financial health status of an organization using the various ratios
Individuals students work exercises Students in small groups, apply the methods to analyse the performance of a business organization from one period to another
Critical thinking and problem solving Collaboration and communication Leadership and personal development
Audio-Visual Resources Charts showing formula of different types of ratios
12
Revision
13
Examination
SS2 Accounting Syllabus for Senior Secondary School Lagos State –Schemeofwork.com
ACHIEVEMENT STANDARDS
At the end of SSII session, students are able to:
Identify , correct and evaluate effects of error on reported profit of an organization
Prepare a full manufacturing account with necessary adjustments for products manufacturing organizations
Convert single entry and incomplete records to error free final account i.e. double entry
Prepare error free final accounts of a non-profit making organization and interpret the final results
Understand the explain the theoretical framework of company’s account , prepare company statement and statement of financial position of company
