Financial Accounting Scheme Of Work For SS1 For 2020/2021 Session

Scheme Of Work For Secondary School Financial Accounting SS1

If you are are accounting student or teacher in Nigeria, and you are looking for the scheme of work on financial accounting. Below is a comprehensive scheme of work for SS1 from first term to third term.

FINANCIAL ACCOUNTING SCHEME OF WORK FOR SS1 FIRST TERM

1. Introduction to Book keeping and Accounting
  • Importance and History of Accounting in Nigeria
2. Users of Accounting information and purpose for which they are needed- advantages and limitations of Accounting

3. Career opportunities in Book keeping and Accounting
  • Accounting professional bodies
  • Accounting professional ethics
  • Accounting concepts and convention
4. Principles of double entries
  • Accounting equations
  • Legalization and journalisation
5. Source documents
  • Meaning, uses, types-importance e.g. debit note, credit note
6. Subsidiary books: meaning, uses, types- cash book; purchase day book-sales day book, return inwards and return outwards journal, journal proper and principal journal.
  • Working exercise on the above subsidiary book
7. Ledger– meaning, purpose, rulings- rules for posting ledger accounts to e debited, to be credited
  • Working exercise on ledger
8. Classification of Accounts into personal, inter personal, real and nominal account

9. One column cash book meaning and uses– working exercises on it with cash book account exercise book.

10. Double column cash book– meaning, bank transaction, central entry, posting and balancing of cash book.

11. Revision

12. Examination

FINANCIAL ACCOUNTING SCHEME OF WORK FOR SS1 SECOND TERM
1. Revision of last term's work

2. Discounts– types, definition
  • Reasons for granting discount
  • Calculation of discount
  • Discount allowed and received
  • Cash, trade, quantity and seasonal discount
3. Three column cash book
  • Working with exercise with (accounts exercises book)
4. Petty cash book
  • Meaning
  • Terminologies, floats
  • Imprest system
  • Reimbursement etc.
5. Posting subsidiary books into ledgers-e. cash book, purchase day book- sales day book
  • Return inwards and returns outward journal and principal/journal proper
6. Trial balance; meaning, uses
  • Rules for extraction
  • Extraction of trial balance
  • Working exercise
7. Trading account: meaning
  • Reasons, format and preparation
  • Profit and loss account– meaning
  • Reasons, format- preparation
8. Balance sheet-definitions
  • Terminologies, format, working exercises
9. Bank reconciliation statement
  • Definition, reasons for preparations, terminologies e.g. unpresented cheques
10. Reasons for differences between cash book balance and bank statement balance

11. Revision

12. Examination

FINANCIAL ACCOUNTING SCHEME OF WORK FOR SS1 THIRD TERM
1. Revision

2. Preparation of bank reconciliation with credit balance
  • Preparation of bank reconciliation when there is bank reconciliatione. debit balance
  • End of year adjustments in profit and loss account – accruals and prepayments accrued income
3. Provision for bad debt, bad debts, provision for discount allowed and received.
  • Bad debt recovered, work exercises
4. Depreciation of fixed assets meaning, reasons, methods of provision for depreciation, elements, terminologies, amortisation and depletion

5. Straight line and reducing balance methods, depreciation schedule, advantages and disadvantages of each method- ledger

6. Treatment of depreciation in profit and loss and balance sheet
  • Preparation of final accounts with end of year adjustments
7. Revision

Examination

Post a Comment

0 Comments