Ss 3 Accounting Scheme of Work



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







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




Mock examination