SS2 Accounting 1st Term
SS2 Accounting First Term Scheme of Work & Lesson Note
Accounting is one of the commercial subjects SS2 students are required to study in first term. The Unit of Instruction for SS2 Accounting 1st Term is carefully developed from the Scheme of Work, which in turn is, based on NERDC current curriculum and SSCE syllabus.
Depreciation Methods, Disposal of Fixed Assets, Manufacturing Account, Receipt and Payment Accounts, Income and Expenditure Accounts
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Depreciation Methods: Straight Line Method
Sub Topics:
Meaning of Depreciation of fixed Assets
Reasons for Charging Depreciation
Causes of Depreciation
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Explain the meaning of depreciation.
2 List types of depreciation.
3 Use straight line method effectively.
Depreciation Methods: Diminishing Balance Method
Sub Topics:
Diminishing Balance Method
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Use diminishing method to prepare depreciation.
Depreciation Methods: Revaluation
Sub Topics:
Revaluation Terminologies
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Prepare depreciation using revaluation.
Disposal of Fixed Assets
Sub Topics:
Disposal of Fixed Assets
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Explain procedure for disposal of fixed assets.
2 State the procedure for assets disposal.
3 Prepare assets disposal account.
Manufacturing Account
Sub Topics:
Prime cost, Direct labor, factory overhead cost of production
Preparation of manufacturing account
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Explain the following terminologies:
-Prime cost
-Work in progress
-Overhead (direct and indirect)
-Cost of production
-Direct and indirect labor, etc
2 Explain the terminologies related to manufacturing account.
3 Explain the composition of prime cost, factory overhead, etc
4 Prepare manufacturing account from the information provided.
Manufacturing Profit and Loss Account
Sub Topics:
Manufacturing Profit and Loss Account
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Prepare manufacturing, trading and profit and loss account from manufacturing account.
2 Prepare trading profit or loss account from a given question.
3 Prepare a full manufacturing trading profit and loss account.
SS2 Accounting 1st Term Revision and Mid Term Test
Take a Quiz on SS2 Accounting 1st Term
Receipt and Payment Accounts
Sub Topics:
Receipt and Payment Accounts
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Explain the following terms: receipt and payment, income and expenditure, capital receipts, subscription in advance and in arrears, accumulated fund, etc.
2 Differentiate between income and expenditure account.
3 Distinguish between receipt and payment account.
Income and Expenditure Accounts
Sub Topics:
Income and Expenditure Accounts
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Define income and expenditure accounts.
2 Prepare income and expenditure accounts.
3 Explain the concept of subscription in arrear and advance.
Accumulated Fund and Balance Sheet
Sub Topics:
Accumulated Fund and Balance Sheet
LEARNING OBJECTIVES: By the end of the lesson, learners should be able to:
1 Prepare balance sheet of a non-profit making organisation.
2 Calculate accumulated fund of a non-profit making organisation.
Work in Progress 48
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Reference Textbooks
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