Teacher explains the meaning of book keeping and accounting, lists the institutions and organizations where accounting can be studied, ask the students to list professional accounting bodies in Nigeria, specify the prerequisite qualifications for a professional accountant, mention the users of accounting information, state the accounting equation.
Students write short note on book-keeping and accounting, identify the famous accounting bodies in Nigeria, lists the users of accounting information.
Keeping of accounting records as a soul of business
Valuation of stock
Valuation of assets
Determine debtors creditors
Conservation of assets.
Teacher mention the need for book-keeping and accounting, give reasons why the keeping of accounting record is the soul of business, explain the valuation of stock and assets.
Students are to mention the need for book-keeping and accounting, listen to the teacher and take notes on stock and assets valuation.
Resources; chart, company accounting publication showing preparation of stock valuation.
3
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, society.
Teacher explains the meaning and importance of qualities of an accountant and how to appreciate the attributes of accounting profession.
Application of the rules with ordinary cash book- meaning, format, and preparation.
Teacher explains the principles of double entry, illustrates the rules of double entry principles using format of ordinary cash book.
Students practice some exercise based on double entry.
Resources; chart/format.
5
DOUBLE ENTRY/THREE COLUMN
-Double column cash book with emphasis on contra- entry.
-The three column cash book with discounts well explained.
Teacher illustrates the double column cash book with emphasis on contra entries.
Students work examples based on double column cash book demonstrating the principle of contra entry.
Teacher illustrates three column cash book showing discount allowed and discount received.
Resources; chart/format.
6
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.
Teacher guides the learners to work as many exercises as possible with emphasis on contra entries and discounts well explained in three column cash book, illustrates with examples the application of double entry on the ledger, guide the learners on how to post transactions correctly in the ledger.
Students listen and take part in the preparation, application of double entry and correct posting of transactions in the ledger.
Explain the meaning/types of ledger accounts.
Resources; charts showing format.
7
ANALYTICAL CASH BOOK
Meaning/ definition
Advantages of petty cash book
Analytical petty cash book imprest.
Teacher explains the meaning and advantages of the petty cash book, illustrates the analytical petty cash book with imprest.
Students pay attention, list the advantages of the petty cash book, practice some exercises on the analytical petty cash book with imprest.
Resources; charts, invoice, and receipts, a company’s petty cash specimen
8
ANALYTICAL CASH BOOK
Petty cash transactions to the ledgers.
Preparations.
Teacher guides the students to post petty cash transactions to the ledger.
Students demonstrate the posting of petty cash transactions to the ledger.
Resources; chart.
9
SUBSIDIARY BOOKS AND SOURCE DOCUMENTS
Meaning
Identify and explain source documents
Match source documents to subsidiary books.
Teacher explains source document, mention the types of source documents.
Students identify the various types of source documents and subsidiary books.
Resources; chart, invoice, receipts, credit note, debit note etc.
10
SUBSIDIARY BOOKS AND SOURCE DOCUMENTS
Meaning
Reasons for subsidiary books
Types
Preparation of subsidiary books.
Teacher explains the subsidiary books, give reasons for subsidiary books and mention the types, guide the learners in the preparation of subsidiary books.
Students highlight the reasons for subsidiary books, observe the preparation of subsidiary books, demonstrate the preparation of subsidiary books.
Teacher discusses the rules and the uses of trial balance.
Students highlight the rules and uses of trial balance.
Resources; chart.
12
TRIAL BALANCE
Formation layout
Preparation of final balance
Extraction of balances from the ledger account.
Teacher guides the learners in preparing trial balance, balancing of trial balance.
Students demonstrate the preparation of trial balance.
Resources; chart.
13
Revisions
Revisions
14
Examinations
Examinations
FINANCIAL ACCOUNTING
SS1 SECOND TERM
WEEK
TOPIC/CONTENT
ACTIVITIES
1
GENERAL JOURNAL
Meaning and definition
Uses of the general journal.
Advantages of general journal.
Opening and closing entries.
Teacher explains the meaning and uses of general journal, illustrates the layout of a typical general journal, illustrates with examples, the opening and closing entries.
Students pay attention to the meaning and uses of general journal, demonstrate the opening and closing entries.
Teacher guides students in correcting errors that affect the trial balance.
Students pay attention and take part in the correction of errors that affect the trial balance.
Resources; chart.
3
SUSPENSE ACCOUNT
Meaning
Location and correction of errors
Preparation of suspense account.
Teacher explains suspense account, guides the students to prepare suspense account.
Students observe the preparation of suspense account.
Resources; chart.
4
CLASSIFICATION OF ACCOUNT - Types
Personal account
Impersonal account
Real and nominal (explain and give example in each class)
Reasons and benefits
Teacher explains to the learners the classes of accounts.
Students write short notes on the different classes of account.
Give reasons and benefits of classifying accounts.
Resources; chart.
5
BANK RECONCILIATION STATEMENT
Meaning/definitions
Bank document
Terminologies used in bank reconciliation statement.
Teacher explains the different types of bank document.
Students write short notes on dishonoured cheque, uncredited cheque, unpresented cheque, commission interest.
Resources; bank documents, chart.
6
BANK RECONCILIATION STATEMENT
Interpretation of bank statements.
Adjustments of cash books.
Preparation of bank reconciliation.
Teacher interprets the bank statement, work some examples, adjustment of cash book, bank reconciliation statement preparation.
Students prepare adjusted cash book, prepare bank reconciliation statement from a given bank statement, standing order, direct payment, observe the various stages of cash book adjustment, bank reconciliation.
Resources; bank documents, charts, resource person.
7
ACCOUNTING CONCEPTS
Define accounting concept.
Identify and explain the accounting concepts e.g. entity concept, going concept, money measurement. Etc
Teacher guides the students to explain the term accounting concepts, mentions and discusses these concepts.
Students write short notes on the accounting concept.
Resources; chart.
8
TRADING ACCOUNT
Meaning/definition
Terminologies used in trading account
Preparation of trading account.
Teacher explains the items in the trading account.
Guides the students to prepare trading account.
Students identify the various terminologies, demonstrate the preparation of trading account.
Resources; chart.
9
PROFIT AND LOSS ACCOUNT
Meaning and definition
Identification of profit and loss account items.
Format or layout – shape and vertical method.
Teacher explains profit and loss account items, draws the format of profit and loss account.
Students draw the format of profit and loss account items.
Resources; charts.
10
TRADING, PROFIT AND LOSS ACCOUNT
Preparation of trading profit and loss account.
Determination of net profit and loss.
Teacher guides the students to prepare profit and loss account.
Students demonstrate the preparation of profit and loss account.
Resources; charts.
11
Revisions
Revisions
12
Examinations
Examinations
FINANCIAL ACCOUNTING
SS1 THIRD TERM
WEEK
TOPIC/CONTENT
ACTIVITIES
1
TRADING, PROFIT AND LOSS ACCOUNT
Preparation of trading and loss account.
Adjustments in profit and loss account.
Bad debts and provision for bad debts, meaning, distinction, posting of entries into ledger and final accounts.
Payment and accruals; meaning, distinctions between pre-payment and accruals.
Teacher guides the students to distinguish between bad debt and provision for bad debt, guides the learners to solve problem involving bad debts and provision for bad debts in ledger and trading profit and loss account.
Students take part in the discussion and activities in the classroom; solve problems involving bad debts and provision for bad debts in ledger and trading profit and loss account preparation.
Provision for depreciation on fixed assets; meaning and calculation of depreciation.
Teacher discusses the differences between pre-payments and accruals, demonstrates the posting of pre-payments and accruals to ledger and final account, discusses the provision for discount allowable, demonstrates the posting into ledger and final account, discusses the provisions for depreciation, demonstrates entries into the ledger of provision for depreciation account, trading, profit and loss account.
Students copy the posting of pre-payment and accruals to the ledger and final account.
Resources; charts.
3
BALANCE SHEET
Meaning/definition
Distinguish between assets and liabilities.
Identification of types of assets and liabilities.
Classification.
Teacher guides learners to distinguish between assets and liabilities, discusses the different types of assets and liabilities.
Students note the differences between assets and liabilities.
Teacher discusses the terminologies used in straight line, guides the students through the calculation and posting of straight depreciation of final accounts.
Students pay attention, participate in the preparation and the calculation, and posting of straight line depreciation.
Resources; charts.
9
DEPRECIATION ACCOUNT
Diminishing or reducing balance method.
Meaning
Formula
Preparation
Teacher explains the terminologies of diminishing depreciation, guides the learners through the calculation and posting of depreciation to final account.
Students take part in identifying the depreciation terminologies, demonstrates in the calculation and posting of depreciation to final account.
Resources; charts.
10
REVISIT ADJUSTMENT
-Bad and doubtful debts provision.
-Discount allowed and recurred pre-payment and accruals.
Teacher guides the students to distinguish between bad debts and provision for bad debt, guides the learners to solve problem involving bad debts, and provision for bad debts in ledger and final account.
Students take part in the discussion and activities in the classroom; solve problems involving bad debts and provision for bad debt in ledger and final account.
