Accounts

Scheme of work, Financial Accounting, SS1, First Term

Olawunmi Omosanya - Mon, 17th June, 2019 @ 12:17: PM

Scheme of work (Financial Accounting), SS1, 1st Term:

WEEK 1

Topic: BOOK-KEEPING AND ACCOUNTING

  • Meaning of Accounting
  • History/Origin of accounting
  • Accounting as a profession
  • Future prospects of Accounting
  • Users of accounting information
  • Accounting equation

 

WEEK 2

Topic: BOOK-KEEPING AND ACCOUNTING

  • The need for book keeping and accounting
  • Keeping of accounting records as a soul of business
  • Valuation of stock
  • Valuation of assets
  • Determine debtors creditors
  • Conservation of assets

 

WEEK 3

Topic: ETHICS OF ACCOUNTING

  • Explain the term accounting ethics
  • Accounting ethics; honesty, transparency, integrity, accountability, fairness, objectivity and trustworthiness
  • Benefits of accounting ethics to the profession and society

 

WEEK 4

Topic: PRINCIPLES AND PRACTICE OF DOUBLE ENTRY

  • Meaning and definition
  • Principles and rules of double entry
  • Application of the rules with ordinary cash book, format, and preparation

 

WEEK 5

Topic: DOUBLE ENTRY/THREE COLUMN

  • Double column cash book with emphasis on contra-entry
  • The three column cash book with discounts well explained

 

WEEK 6

Topic: DOUBLE ENTRY/THREE COLUMN

  • Further treatment of three column cash book
  • The ledgers: meaning and types
  • Application to double entry book keeping from cash book
  • Posting of transactions to ledger

 

WEEK 7

Topic: ANALYTICAL CASH BOOK

  • Meaning / Definition
  • Advantages of petty cash book
  • Analytical petty cash book imprest

 

WEEK 8

Topic: ANALYTICAL CASH BOOK

  • Petty cash transactions to the ledgers
  • Preparations

 

WEEK 9

Topic: SUBSIDIARY BOOKS AND SOURCE DOCUMENTS

  • Meaning of Subsidiary books and source documents
  • Identify and explain source documents
  • Match source documents to subsidiary books

 

WEEK 10

Topic: SUBSIDIARY BOOKS AND SOURCE DOCUMENTS

  • Reasons for subsidiary books
  • Types of subsidiary books
  • Preparation of subsidiary books

 

WEEK 11

Topic: TRIAL BALANCE

  • Meaning of Trial Balance
  • Rules of trial balance
  • Uses of trial balance

 

WEEK 12

Topic: TRIAL BALANCE

  • Formation layout
  • Preparation of final balance
  • Extraction of balances from the ledger account

 

WEEK 13

  • Revision

 

WEEK 14

  • Examination

 

Financial Accounting scheme of work, SS1, 2nd Term

Financial Accounting scheme of work, SS1, 3rd Term

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It is believed that Bookkeeping is the only English word to contain three sets of double letters repeatedly.

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