Description
SS3 Financial Account Scheme of Work for First and Second Term: These lesson notes cover the following topics.
First Term:
| WEEKS | TOPICS |
| 1 | REVISION |
| 2 | Preparation of company income statement |
| 3 | Appropriation account of a company – Goodwill preliminary expenses, reserves, dividend, bonuses |
| 4 | Company balance sheet – vertical and ‘T’ formats |
| 5 | Capital markets
– Meaning, reasons for regulation, types of regulation, condition of enlisting in capital market |
| 6 | Security and exchange commission
– Functions, objectives, protection of investors, tools of regulation, registration, surveillance and monitoring, investations, enforcement, rule making |
| 7 | Nigeria Stock Exchange
– Definition, functions, operations – Members (jobbers, brokers etc) – Abuja stock/commodity exchange |
| 8 | Hire purchase/instalment payment account
– Sellers and hirers ledger – Goods account, finance house – Hire purchase account/interest account |
| 9. | Consignment Account
– Meaning, terminologies (Decredere commission) – Consignor and consignee accounts – Accounting entries in the books of the consignee |
| 10 | Joint Venture
– Meaning, differences between joint venture and partnership – Joint venture (individual account) – Joint venture memorandum account |
| 11 | REVISION |
| 12 | EXAMINIATION |
Second Term:
1. Contract Accounts
– Meaning, terminologies – National profit, retention fee, work certified.
– Work-in-progress, calculation of percentage of work completed.
– Preparation of contract Account.
2. Interpretation of Financial statement – calculation of ratios e.g liquidity ratio, acid test ratio, working capital etc.
3. Departmental Account – Meaning
– Reason for departmental Account
– Inter Departmental transfer.
– Lost Apportionment.
– Preparation of departmental Account.
– Differences between branch and departmental Account.
4. Branch Account
– Meaning, types of branches – Local, foreign.
– Reasons for the branch Account.
– Branch memorandum Account.
– Branch returns Account
– Branch debtors Account.
– Branch Profit and loss Account.
– Branch mark-up and margin.
5. Public Sector Accounting.
– Meaning, basis for preparation of Account, sources of government revenue.
– Capital/Re-current expenditure.
– Heads and sub-heads.
– Types of fund.
– Capital and revenue Account.
– Income and expenditure Account.
– Differences between government Accounting and public sector Accounting – Term in government Accounting.
6. Preparation of personnel cost Budget.
7. Revision
8. Mock Examination.
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