INTRODUCTION TO BOOK-KEEPING
Junior Secondary School
Business Studies JSS 1(Basic 7)
Second Term Lesson Notes
Subject :
Business Studies
Term :
SECOND TERM
Week:
Week 9
Class :
JSS 1
Topic :
INTRODUCTION TO BOOK-KEEPING
Previous lesson :
The pupils have previous knowledge of
that was taught as a topic during the last lesson.
Behavioural objectives :
At the end of the lesson, the pupils should be able to
- Define the Meaning of Book-keeping
- List the Importance of Book-keeping and Parties Interested in Book-keeping
- Enumerate the Essential Qualities of a Book-keeper
- Itemize the Common Book-keeping Practices
Instructional Materials :
- Wall charts
- Pictures
- Related Online Video
- Flash Cards
Methods of Teaching :
- Class Discussion
- Group Discussion
- Asking Questions
- Explanation
- Role Modelling
- Role Delegation
Reference Materials :
- Scheme of Work
- Online Information
- Textbooks
- Workbooks
- 9 Year Basic Education Curriculum
- Workbooks
Content :
Meaning of Book-keeping
Book-keeping may be defined as the art of recording business transactions in a systematic manner so that the books of account will reveal at any time the financial position of the business to the owner and other stakeholders in the business
Importance of Book-keeping
Every business organization keeps daily records of their financial transactions. Therefore, the importance of bookkeeping becomes necessary for the following reasons:
- It is for easy reference of business financial records.
- It shows an accurate standing position of business in relation to its customers i.e. what is owed and what is owed by the firm
- It reveals profits and losses position to the company through trading, profit and loss account.
- It provides information to members of the public who are interested in the business through the balance sheet.
- Auditors use the books to issue their audit reports.
- The records kept help in management decision-making.
- The records project the image of the business to the public.
- It is a means by which finances of a business can be controlled.
Essential Qualities of a Book-keeper
A book-keeper must possess the following essential qualities:
- He or she must be truthful and honest
- False entries should not be made into the book
- He or she must be hardworking, punctual to work and must show interest in the job
- He or she must be able to keep records
- He or she must have a legible handwriting
- He or she must have retentive memory
- He or she must be trustworthy.
- A book keeper must always appear neat and attractive.
Common Book-keeping Practices
The following are common book-keeping practices:
- A single line ruled beneath an amount by the bookkeeper is an indication that a remainder or a total will follow
- The use of ruler when drawing single or double rulings make for neat accounting work.
- The Naira and Kobo signs are usually written on top and not in a ruled column.
- Two zeros are written in the kobo column when an amount to be written does not have the aspect. The kobo column must not be left blank. It should be filled with two zeros
- When a bookkeeper applies a double ruling across an amount column, this indicates that the work above has been completed and accurate.
Book-keeping Ethics
Book-keeping ethics include the following:
- Accountability
- Probity
- Transparency
- Objectivity
- Fairness
Presentation
The topic is presented step by step
Step 1:
The class teacher revises the previous topics
Step 2.
He introduces the new topic
Step 3:
The class teacher allows the pupils to give their own examples and he corrects them when the needs arise
EVALUATION
- State five importance of Book-keeping.
- Explain the term book-keeping.
- State five qualities of book keeper.
Conclusion
The class teacher wraps up or conclude the lesson by giving out short note to summarize the topic that he or she has just taught.
The class teacher also goes round to make sure that the notes are well copied or well written by the pupils.
He or she does the necessary corrections when and where the needs arise.