HomeSS3Financial AccountingSS 3 FINANCIAL ACCOUNTING FIRST TERM LESSON NOTE SCHEME OF WORK

SS 3 FINANCIAL ACCOUNTING FIRST TERM LESSON NOTE SCHEME OF WORK

FIRST TERM SS 3 FINANCIAL ACCOUNTING 

 

FINANCIAL ACCOUNTING

 

SCHEME OF WORK

 

WEEK

 

  1. Revision of last term’s work

 

  1. Regulation of the Capital Market:

 

  • Regulation of the Capital market (meaning, reasons for regulation)
  • Types of regulation – Statutory regulation; (i) The Law ISA No.45, 1999 (ii) Securities and Exchange Commission (the Apex Regulatory body). (iii) Objectives of Statutory regulation – protect investors. (iv)Develop the market tools of regulation – Registration, Surveillance and monitoring, Investigations, Enforcement, Rule making

 

  1. Hire Purchase:

 

  • System (b) preparation of Account: (i) in the Sellers Ledger and Hirers Ledger (ii) Goods Account (iii) Hire Purchases Account and Interest Account

 

  1. Contract Account:

 

  • Terminologies: (i) Nominal and Notional Profit (ii) Retention Money (iii) Work Certified (iv) Work in Progress (v) Percentage of Work Completed
  • Preparation of Contract Account

 

  1. Public Sector Accounting:

 

  • Meaning (ii) Sources of Government Revenue (iii) Capital Expenditure (iii) Re-current Expenditure (iv) Heads and SubHeads (v) Capital and Revenue Account

 

6-10 Revision

 

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