SS1 Accounting 2nd Term Lesson Note

Trial Balances

SUB TOPICS:
A. Purpose of trial balance
B. Extraction of trial balance from a ledger

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain trial balance and its purpose.
2 Extract trial balance from a ledger.
3 ETC

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Correction of Errors

SUB TOPICS:
A. Correction of errors on trial balance
B. Correction of errors on suspense account

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 Identify errors in a given trial balance.
2 Identify errors in a suspense account.
3 ETC

Trading Account

SUB TOPICS:
A. Trading account terminologies: Opening stock, Closing stock, etc

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 List and explain trading account terminologies.
2 Prepare trading account.
3 ETC

Trading Account (CONT'D)

SUB TOPICS:
A. Trading account terminologies: Return inwards, Carriage outward, Purchase sales, etc

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 State the meaning of the following: i. Return inwards ii. Carriage outward iii. Purchase sales

Profit and Loss Account

SUB TOPICS:
A. Identification, preparation, determination of net profit or net loss

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 Identify profit and loss from a given information.
2 Differentiate between gross profit and gross loss.
3 ETC

Balance Sheet

SUB TOPICS:
A. Assets and liabilities
B. Classification

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain balance sheet, assets and liabilities.
2 Distinguish between assets and liabilities.
3 ETC

Mid Term Revision and Test for SS1 Accounting 2nd Term

General Journal

SUB TOPICS:
A. Uses of general journal

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain the purpose of general journal.
2 State three uses of general journal.
3 ETC

Correction of Errors in Suspense Account

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain the following terms: Errors of omission, Errors of commission and Errors of principle.
2 Prepare a suspense account to correct errors.
3 ETC

Correction of Errors in Suspense Account (CONT'D)

LEARNING OBJECTIVES: At the end of the lesson, learners should be able to:
1 Explain the following terms: Errors of omission, Errors of commission and Errors of principle.
2 Prepare a suspense account to correct errors.
3 ETC

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