Ss 3 Accounting Scheme of Work

First Term

Revision of SS2 Work

Preparation of Company Income Statement

Appropriation Account of a Company

• Goodwill
• Preliminary Expenses
• Reserves
• Dividend
• Bonuses

Company Balance Sheet

• Vertical T Format

Capital Market

• Meaning
• Reasons for Regulation
• Types of Regulation
• Conditions for Enlisting in Capital Market

Securities and Exchange Commission

• Functions
• Objectives
• Protection of Investors
• Tools of Regulation
• Registration
• Surveillance and Monitoring
• Investigations
• Enforcement
• Rule Making

Nigeria Stock Exchange

• Definition
• Functions
• Operations
• Members (Jobbers, Brokers, etc.)
• Abuja Stock/Commodity Exchange

Hire Purchase/Instalment Payment Account

• Sellers and Hirer Ledger
• Goods Account
• Finance House
• Hire Purchase Account/Interest Account
• Consignment Account
• Meaning
• Terminologies (Decredere Commission, etc.)
• Consignor and Consignee Accounts
• Accounting Entries in the Books of the Consignor
• Accounting Entries in the Book of the Consignee

Joint Venture

• Meaning
• Differences Between Joint Venture and Partnership
• Joint Venture (Individual Account)
• Joint Venture Memorandum Account

Revision

• Examination

Second Term

Contract Account

• Meaning
• Terminologies (Notional Profit, Retention Fee, Work Certified)
• Work in Progress
• Calculation of Percentage of Work Completed
• Preparation of Contract Account

Interpretation of Financial Statement

• Calculation of Ratios (Liquidity Ratio, Acid Test Ratio, Working Capital, etc.)

Departmental Account

• Meaning
• Reasons for Departmental Account
• Interdepartmental Transfer
• Lost Apportionment (Direct Allocation, Turnover Basis, Floor Area, etc.)
• Preparation of Departmental Account

Branch Account

• Meaning
• Types of Branches (Local, Foreign)
• Reason for Branch Account
• Branch Memorandum Account
• Branch Returns Account
• Branch Debtor’s Account
• Branch Profit and Loss Account
• Branch Mark Up and Margin

Public Sector Accounting

• Meaning
• Basis for Preparation of Account
• Sources of Government Revenue
• Capital/Recurrent Expenditures
• Heads and Subheads
• Capital and Revenue Account
• Income and Expenditure Account
• Differences Between Government Accounting and Public Sector Accounting
• Preparation of Personal Cost Budget

Revision

• Mock Examination