Scheme Of Work For Secondary School Financial Accounting SS3

Scheme Of Work For Secondary School Financial Accounting SS3

Scheme Of Work For Secondary School Financial Accounting SS1


Revision of SS2 WORK

Preparation of company income statement

Appropriation account of a company- goodwill, preliminary expenses, reserves, dividend, bonuses

Company balance sheet- vertical T format
Capital market

Meaning, reasons for regulation, types of regulation, condition for enlisting in capital market

Security and exchange commission

Functions, objectives, protection of investors, tools of regulation, registration, surveillance and monitoring, investigations, enforcement, rule making

Nigeria stock exchange
Definition, functions, operations
Members (jobbers, brokers etc.)

Abuja stock/ commodity exchange

Hire purchase/instalment payment account
Sellers and hirer ledger
Goods account, finance house

Hire purchase account/interest account

Consignment account
Meaning, terminologies (Decredere commission etc.)
Consignor and consignee accounts
Accounting entries in the books of the consignor
Accounting entries in the book of the consignee

Joint venture
Meaning, differences between joint venture and partnership
Joint venture (individual account)
Joint venture memorandum account




Contract account
Meaning, terminologies- notional profit, retention fee, and work certified
Work in progress, calculation of percentage of work completed

Preparation of contract account
Interpretation of financial statement- calculation of ratio e.g. liquidity ratio, acid test ratio, work capital etc.

Departmental account- meaning
Reasons for departmental account
Inter departmental transfer
Lost apportionment- direct allocation, turnover basis, floor area etc.
Preparation of departmental account
Differences between branch and departmental account

Branch account
Meaning, types of branches- local, foreign
Reason for branch account
Branch memorandum account
Branch returns account
Branch debtor's account
Branch profit and loss account
Branch mark up and margin

Public sector accounting
Meaning basis for preparation of account, sources of government revenue
Capital/ re- current expenditures

Heads and sub heads
Capital and revenue account
Income and expenditure account
Differences between government accounting and public sector accounting- term in government accounting.

Preparation of personal cost budget
Mock examination

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