Principles Of Accounting

BOOK KEEPING THIRD TERM LESSON NOTE SS 1

Book Keeping SS 1 Third Term Lesson Notes                                                       SS 1 OMEGA TERM BOOK- KEEPING                                                                     SCHEME OF WORK  WEEK 1                 Revision               Petty cash book              —Meaning of petty cash book               ___ Classification of columns               __posting of transaction      

BOOK KEEPING FIRST TERM EXAMINATION SS 1

EXAMINATION MALPRACTICES MAY LEAD TO A REPEAT OF THE SUBJECT OR SUSPENSIONS. DON’T BE INVOLVED. SUBJECT: BOOK KEEPING TIME: 2 HOURS 30 MINUTES CLASS: SS 1 OBJECTIVES Understand the concept and importance of book keeping. Identify and describe key book keeping terms and concepts. Apply book keeping principles to solve problems. SECTION A Choose the

Exam Questions Second Term SSS 2 Accounting

S S ACCOUNTING 1. The term “accounting period” is used to refer to the A. time span during which taxes are paid to the inland revenue board B. budget period, usually one year, relied on by the accountant C. time span, usually one year, covered by financial statement D. period within which debtors are expected

Meaning of Accounting Concepts SS1 Principles of Accounting

ACCOUNTING CONCEPTS AND CONVENTIONS CONTENT Meaning of Accounting Concepts Major Accounting Concepts Accounting Conventions   Meaning of Accounting Concepts Accounting concepts which is also referred to as principles and fundamental accounting postulates, are rules adopted as guides to actions in preparation of accounting statements. Major Accounting Concepts The following are the major accounting concepts Entity

PRINCIPLES AND PRACTICE OF DOUBLE ENTRY

  Subject:  ACCOUNTING Term: FIRST TERM Week: WEEK 4 Class: SS 1 Topic: PRINCIPLES AND PRACTICE OF DOUBLE ENTRY Behavioural objectives: At the end of the lesson, the learners will be able to Explain the rule of double entry apply the rules of double entry   Previous lesson:  The pupils have previous knowledge of  ETHICS

ETHICS OF ACCOUNTING

ETHICS OF ACCOUNTING CONTENT Meaning of Ethics Meaning of Accounting Ethics Qualities of Accountants and Accounting Ethics Benefits of Accounting Ethics to the Accounting Profession and the Public (Society)   Meaning of Ethics Ethics can be defined as established codes of conduct, modes of behavior, pattern, practice, standard and principles generally accepted or strictly adhered

Users of Accounting Information SS1 Principles of Accounting

BOOK KEEPING AND ACCOUNTING CONTENT The Need for Book-keeping and Accounting The Need/Importance of Book-keeping Users of Accounting Information Qualities of Accounting Information Limitations of Accounting Information The Need for Book-keeping and Accounting The recording phase of accounting is known as the book-keeping. The practice of accountancy will be virtually impossible if there is no

TYPES OF DISCOUNTS

Subject:  ACCOUNTING Term: FIRST TERM Week: WEEK 8 Class: SS 1 Topic: TYPES OF DISCOUNTS Behavioural objectives: At the end of the lesson, the learners will be able to explain the meaning of discounts identify various types of discounts explain the types of discounts in accounts distinguish between cash discount and trade discount.   Previous

Accounting Senior Secondary School SS1 First Term

SCHEME OF WORK 1 1st TERM ACCOUNTING SS 1 WEEK TOPIC BOOK KEEPING AND ACCOUNTING  THE NEED FOR BOOKING AND ACCOUNTING    ETHICS OF ACCOUNTING  PRINCIPLES AND PRACTICE OF DOUBLE ENTRY  ACCOUNTING CONCEPTS AND CONVENTIONS THE USE OF GENERAL JOURNALS AND OPENING AND CLOSING ENTRIES OF GENERAL JOURNALS. CORRECTION OF ERRORS  TYPES OF DISCOUNTS ANALYTICAL CASH

SS2 Principles of Accounting Third Term Examinations

Question The concepts of responsibility accounting are devised to …Answer Place performance evaluation into manageable context Question In developing MNC evaluation systems, the following are considered except one Answer Transfer cost, national currency and inflation Question Ratios such as ROA and ROCE are methods of Answer Financial analysis Question Sales growth and cost reduction is