Financial Accounting Lesson Notes for SS1 2nd Term

Download Comprehensive Senior Secondary School Lesson Notes for Accounting Lesson SS1 2nd term in PDF or DOCUMENT – Edudelight Store

Senior Secondary School 1 Second Term Accounting Scheme of work with lesson notes content

WEEK

1. Revision of 1^st term’s work
2. Partnership Accounts – Admission of new partners. Terminologies Goodwill accounts, valuation of assets, treatment of goodwill according to profit sharing ratio.
3. Dissolution of partners reasons for dissolution, entry requirements in closing the firm’s books of account (settlement account).
4. Accounting Ratio

Introduction to ratio, types with working exercise.

5. Single entry/incomplete records – Determination of profit and loss from statement of affairs, preparation of trading, profit and loss accounts and Balance sheet from incomplete records.
6. Accounts of non-profit making organization – meaning, terminologies, features of receipts and payments account and format.
7. Receipts and payments account, income and expenditure account – meaning, rules, similarities and differences between receipts and payments account and income and expenditure account.
8. Treatment of subscriptions other nominal ledgers in arrears and in advance.
9. Preparation of income and expenditure account and balance sheet with working exercise.
10. Revision
11. Examination

SSS1 Second Term Accounting Lesson Note – Edudelight Store