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

2. 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
  • Stock Exchange Market
  • USEFUL COMPUTER ABBREVIATIONS

3. 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

4. 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

5. 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