Ss 3 Accounting Scheme of Work

SS3 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, condition for enlisting in capital market Security 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, and work certified Work in progress, calculation of percentage of work completed

 

Preparation of contract account Interpretation of financial statement- calculation of ratio e.g. liquidity ratio, acid test ratio, work capital etc.

 

Departmental account- meaning

 

Reasons for departmental account Inter departmental transfer Lost apportionment- direct allocation, turnover basis, floor area etc. Preparation of

 

departmental account Differences between branch and 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 Brach mark up and margin Public sector accounting

 

Meaning basis for preparation of account, sources of government revenue Capital/ re- current expenditures Heads and sub heads Capital and

 

revenue account Income and expenditure account Differences between government accounting and public sector accounting- term in

 

government accounting. Preparation of personal cost budget

 

Revision

 

Mock examination