Financial Accounting SS1 First Term Lesson Notes
Weekly Brief List of Topics for SS1 Financial Accounting (First Term)
- Week 1:
- Introduction to Accounting
- Meaning of Bookkeeping
- Meaning of Financial Accounting
- Differences between Bookkeeping and Financial Accounting
- Importance of Accounting
- Introduction to Accounting
- Week 2:
- History of Accounting Worldwide and Nigeria
- Users of Accounting Information
- Internal and External Users and Their Needs
- Characteristics of Accounting Information
- History of Accounting Worldwide and Nigeria
- Week 3:
- Advantages and Limitations of Accounting
- Accounting Process Cycle
- Identifying and Analyzing Business Transactions and Events
- Recording in the Journals
- Posting to the Ledger
- Extraction of Trial Balance
- Preparation of Financial Statements
- Advantages and Limitations of Accounting
- Week 4:
- Career Opportunities in Bookkeeping and Accounting
- Accounting Professional Bodies
- Accounting Professional Ethics
- Career Opportunities in Bookkeeping and Accounting
- Week 5:
- Accounting Equation and Double Entry Principle
- Purpose and Functions of Source Documents
- Introduction to Subsidiary Books
- Meaning of Subsidiary Books
- Types of Subsidiary Books
- Accounting Equation and Double Entry Principle
- Week 6:
- Sales and Purchase Journals
- Return Inwards Journal
- Return Outwards Journal
- Cashbook
- Sales and Purchase Journals
- Week 7:
- Week 8:
- Working Exercises on Sales Journals and Return Inward Journal
- Working Exercises on Purchase Journal and Return Outward Journal
- Week 9:
- The Ledger
- Classification of Accounts
- Cash Book: Meaning and Types
- Single Column Cash Book
- The Ledger
- Week 10:
- Week 11:
- Discounts
- Meaning, Types, Reasons for Giving Discounts
- Calculation of Discounts
- Discounts
- Week 12:
- Week 13:
This weekly breakdown covers all the topics from the first term of SS1 Financial Accounting