FINANCIAL ACCOUNTING SCHEME OF WORK FOR SS II FIRST TERM

Week 1: MANUFACTURING ACCOUNT
Meaning/definition,
Purpose of manufacturing account.

Terminologies used.
Computation of;

Cost of raw materials available for use.
Cost of raw materials consumed or used.
Prime cost of production.
account ‚Äď prepares manufacturing
account, trading, profit and loss
account and balance sheet format.

Teacher’s Activities : The Teacher should discuss the items that make up manufacturing account, should make use of a flash and demonstrates the different terminologies used in manufacturing account, should also prepare manufacturing account, trading, profit and loss account and balance sheet format and encourage the learners to participate.
Learners Activities: The learners are to participate fully in the discussion by listing out the manufacturing items, preparing manufacturing account format as the teacher must have done.
Instructional Resources: The Teacher should use the following to illustrate the lesson: chart, format of manufacturing account, trading, profit and loss account.
Week 2 : MANUFACTURING ACCOUNT
Layout/format of manufacturing account.

Preparation of manufacturing and trading account together.
Teacher’s Activities: The Teacher should lead discussion on the items that make up manufacturing account and trading account, should demonstrate to the students using a flash, prepare manufacturing account and trading account together for the learners to see.
Learners Activities: The learners should participate in the discussion by listing out the manufacturing items for trading account. In the end, able to prepare manufacturing trading account.
Instructional Resources: The Teacher should make use of chart, format of manufacturing and trading account to illustrate the lesson.
Week 3: MANUFACTURING ACCOUNT
Preparation of profit and loss account.
Preparation of manufacturing, trading profit and loss account.
Teacher’s Activities :The Teacher should guide the learners to discuss the items that make up manufacturing account, uses a flash to demonstrate the different terminologies used in preparing manufacturing, trading, profit and loss account.
Learners Activities: The learners should participate in the discussion by listing out the manufacturing items, prepares manufacturing, trading, profit and loss account.
Instructional Resources: The Teacher should make use of charts, format of manufacturing account with trading, profit and loss account to illustrate the lesson.

Week 4: MANUFACTURING ACCOUNT

Transfer of goods manufactured from the manufacturing
department to the sales department.
Balance sheet;
Layout Preparation.
Teacher’s Activities: The Teacher should discuss the items that make up manufacturing account, uses a flash and demonstrates the different terminologies used in manufacturing account, prepares manufacturing account with trading, profit and loss
account, balance sheet.
Learners Activities: The learners should follow the leading of their teacher to participate in the discussion by listing out the manufacturing items, prepare from manufacturing account to the balance sheet.
Instructional Resources: The Teacher should facilitate the lesson with chart, format of manufacturing account, trading, profit and loss account with the balance sheet.
Week 5: ACCOUNT OF NON-PROFIT MAKING ORGANIZATION
Introduction
Receipts and payment account;
Features
Limitations.
Formats of receipts and payments accounts.
Preparation of receipts and payment account.
Teacher’s Activities: The Teacher should explain the concept of receipts and payments, income and expenditure items. Should also guide the learners to identify features and limitation, receipt and payment account, income and expenditure.
Display format to show the preparation of receipt and payment
account.
Prepare receipt and payment account.
Learners Activities: The learners should listen attentively to the the teacher as the lesson begins, participate in the activities such as receipts and payment account with income and expenditure account, format preparation.
Instructional Resources: The Teacher should employ charts, format of receipts and payment accounts, format of the income and expenditure accounts, a flash card for the lesson.
Week 6: ACCOUNT OF NON-PROFIT MAKING ORGANIZATION
Income and expenditure account; meaning.
Differences between receipts and payment accounts and income and expenditure.
Format of income and expenditure account.
Teacher’s Activities: The Teacher should explain income and expenditure items. As the lesson progresses, should plays the income and expenditure, format, prepares income and expenditure account.
Learners Activities: The learners should listen attentively to the lesson, participate in the preparation of the accounts, such as income and expenditure account.
Instructional Resources: The following should be used to spice up the lesson; charts, format of the income and expenditure accounts, a flash card.
Week 7: ACCOUNT OF NON-PROFIT MAKING ORGANIZATION
Preparation of income and expenditure account.
Accumulated fund.
Preparation of balance sheet.
Teacher’s Activities: The Teacher should lead the class on explanation of how to derive accumulated fund, prepares the income and expenditure account showing accumulated fund, prepares a balance sheet.
Learners Activities: The learners should pay attention to the lesson, participate in the preparation of the accounts, such as income and expenditure showing accumulated and a balance sheet.
Instructional Resources: The Teacher should make use of charts, format of the income and expenditure accounts, a flash card in teaching/learning process.
Week 8: REVISIT BANK RECONCILIATION
Differences between bank statement and reconciliation statement.
Interpretation of bank statement.
Causes of discrepancies between cash book and bank statement.
Teacher’s Activities: The Teacher should carry the learners along as he gives detail explanation to the different types of bank document, interprets the bank statement, work some examples like adjustment of cash book, and bank reconciliation statement preparation.
Learners Activities: The learners should participate in the lesson by writing short notes on the following; dishonoured cheque,
uncredited cheque, unpresented cheque, commission/interest.
Under the guidance of the teacher, they should also prepare bank reconciliation statement from a given bank statement. Example standing order, direct payment. They should prepare also adjusted cash book, and observe the various stages in cash book.

Instructional Resources: The Teacher should facilitate the lesson with bank documents, charts, resource person.
Week 9: BANK RECONCILIATION STATEMENT
Preparation of adjusted cash book.
Preparation of bank reconciliation statement, bank overdraft,
preparation of bank reconciliation statement with normal bank
statement.
Teacher’s Activities: The Teacher should work some examples;
adjustment of cash book, prepares bank reconciliation statement with items from adjusted cash book and overdraft
Learners Activities: Under the supervision of the teacher, the learners should write notes on dishonoured cheque, uncredited cheque, unpresented cheque, commission/interest.
They should also prepare bank reconciliation statement showing items from adjusted cash book.
Prepare bank reconciliation statement with dishonoured cheques.
Instructional Resources: The Teacher should make available bank documents, charts, resource persons for the lesson.
Week 10: REVISIT ACCOUNT CONTROL
Sales ledger control account.
Purchases ledger control account.
Teacher’s Activities: The Teacher should guide the learners on to identify sales ledger item, identify purchases ledger item, prepares sales ledger control account, prepare purchases ledger control account.
Learners Activities: The learners should listen attentively and participate in the lesson which involves the preparation of: sales ledger control account, purchases ledger control account.
Instructional Resources: Resources such as charts, format of both the sales and purchases ledger should be considered by the teacher for proper illustration of the lesson.

Week 11: Revisions Revisions
Week 12: Examinations Examinations

FINANCIAL ACCOUNTING: SS II SECOND TERM

Week 1: PARTNERSHIP ACCOUNT
Meaning/definition.
Terminologies used.
Partners capital account.
Types of capital account..
Teacher’s Activities: The Teacher should explain the meaning of partnership account, should guide the learners to identify and explain capital accounts and associated terminologies, should clearly state the differences in capital account, prepare the capital account before the learners, should guide the learners to
identify current account, the different terminologies associated with partners’ current account, prepare capital and current account and as well discuss the appropriate sharing ratio of partners.
Learners Activities: The learners should pay attention, take part in the preparation of capital account and current account.
Instructional Resources: The Teacher should facilitate the teaching/learning process with relevant charts, flashcards of the key words, format.
Week 2: PARTNERSHIP ACCOUNT
Trading account.
The profit and loss account of partnership.
Partners profit and loss appropriation account.
Teacher’s Activities: The Teacher should explain the concept and meaning of partners trading account, profit and loss account.
the associated terminologies, display a format showing trading, profit and loss appropriation account.
Learners Activities: The learners should pay attention and take part in the preparation of trading, profit and loss appropriation account.
Instructional Resources: The teacher should use charts, flashcards of the key words, format

Week 3: PARTNERSHIP ACCOUNT
Partnership current account;- format of profit and loss appreciation account.
Balance sheet of partners.
Layout and preparation.
Teacher’s Activities: The Teacher should guide the learners to identify current account, different terminologies used in partners’ current account, prepares
current account, discusses the appropriate sharing ratio of partners, displays the format and leads students to prepare current account, profit and loss appropriation account.
Learners Activities: The learners should pay attention and participate in the preparation of current account, profit and loss appropriation account.
Instructional Resources: The teacher should make use of charts, flashcards of the key words, format.
Week 4: PARTNERSHIP ACCOUNT
Admission of new partners.
Meaning Reasons for admission of new partners.
Goodwill;
Meaning
Valuation of goodwill.
Teacher’s Activities: The Teacher should discuss the concept of admission of new partners, state the reasons for admission of new partners, give detail explanation on goodwill and discusses
valuation of goodwill.
Learners Activities: The learners should pay attention, take part in activities involving new partners admission, lists reasons for admitting new partners, explain goodwill, prepares goodwill account.
Instructional Resources: The lesson should be facilitated with charts, flashcards of the key words, format.
Week 5: PARTNERSHIP ACCOUNT
Revaluation of assets;
Meaning and journal entries
Preparation of revaluation account.
Preparation of new balance sheet.
Teacher’s Activities: The Teacher should explain in detail the meaning of revaluation of assets, explain how to make journal entries. Show the learners format for preparation of revaluation account, and a new balance sheet preparation.
Learners Activities: The learners should pay attention, watch and participate as the teacher prepares journal entries, in the preparation of revaluation account and a
new balance sheet.
Instructional Resources: charts, flashcards of the key words, format.

Week 6: PARTNERSHIP ACCOUNT
Dissolution of partnership.
meaning/definition
Reasons for dissolution of partnership
Dissolution procedures.
Preparation of realization account.
Teacher’s Activities: The teacher should explain and give definition of dissolution of partnership account, guide the learners to identify reasons for dissolution of partnership, lists the procedures in dissolving a partnership
business, guides the students to identify reasons for dissolving partnership business. Lists and discusses procedures for dissolving partnership business, prepares realization account.
Learners Activities: The learners pay attention, take part in the lesson by giving reasons for dissolution of partnership business, lists reasons for dissolution of a partnership business, mention procedures
for dissolving partnership business, preparation of realization account.

Instructional Resources: charts, flashcards of the keywords.
Week 7: INCOMPLETE RECORDS
(SINGLE ENTRY)
Meaning/definition
Features of single entry
Disadvantages/limitations.
Computation of profit from two balance sheets showing opening and closing capital.
Teacher’s Activities: The Teacher should explain the concept of single entry, should compute profit from two balance sheet showing opening and closing statement of affairs.
Learners Activities: The learners should listen to the teacher and take part in the preparation of single entry, should also follow the teacher’s guidelines to compute profit of balance sheet and closing statement of affairs.
Instructional Resources: The Teacher should consider using chart, format for the lesson presentation.
Week 8: INCOMPLETE RECORDS
Preparation of statement of affairs; calculation of profit
Teacher’s Activities: The Teacher should explain, prepare statement of affairs to determine capital and statement of profit.
Learners Activities: The learners should listen to the teacher and take part in the preparation of the statement of affairs to determine capital and profit.
Instructional Resources: The Teacher should make use of chart relevant to the lesson.

Week 9: INCOMPLETE RECORDS
Conversion of single entry:
Prepare statement of affairs.
Prepare analysis of a cashbook.
Reconstruct necessary accounts.
Preparation of trading, profit and loss account.
Preparation of balance sheet.
Teacher’s Activities: The Teacher should prepare statement of affairs, analysis of a cash book and reconstructs necessary accounts. Should prepare trading, profit and loss account as well as a balance sheet.
Learners Activities: The learners should listen to the teacher and take part in the preparation of the statement of affair, trading, profit and loss account and a balance sheet.
Instructional Resources: chart displaying the relevant key words of the lesson.
Week 10: INTERPRETATION OF ACCOUNTS USING SIMPLE ACCOUNTING RATIOS EQUITY.
Capital employed
Working capital.
Ratio of working capital to capital employed.
Ratio of equity to capital employed.
Teacher’s Activities: The Teacher should explain the different accounting ratio, calculate and show examples, computation and illustration with examples.
Week 11: FURTHER TREATMENT OF INTERPRETATION OF ACCOUNTS
Teacher’s Activities: The Teacher should define capital employed working capital.
Learners Activities: The learners should state the various ways to interpret account, give explanation to capital employed, working capital, ratio of working capital to capital employed, ratio of equity to capital employed.
Instructional Resources: The Teacher should employ charts, flash cards in the lesson illustrations
Week 12 & 13: Revisions/Examinations.

FINANCIAL ACCOUNTING SS II THIRD TERM
Week 1: COMPANY ACCOUNT; FORMATION OF A COMPANY
Companies and allied matters act 1990 relating to formation of companies.
Terminologies;
Memorandum of associations
Articles of association
Prospectus etc.
Types of companies;
private and public companies;
Private company;
Definition
Features.
Public company;
Definition
Features
Distinction between public and private companies.
Teacher’s Activities: The Teacher should state the requirements of companies and allied matters act of 1990, explain relevant terminologies to the formation of company, list the differences between private and public companies, give specific examples of public and private companies within the locality.
Learners Activities: The learners should highlight the requirements for companies and allied matters acts of 1990, participate in the discussion on the terminologies relevant to the company. State the features of public and private companies.
Instructional Resources The Teacher should make available chart, daily official list of companies from Corporate Affairs Commission for the lesson.
Week 2: QUOTED AND UNQUOTED COMPANIES
Quoted companies
Definition
Features
Examples.
Unquoted companies;
Definition
Features
Differences between quoted and unquoted companies.
Teacher’s Activities: The Teacher should explain quoted and unquoted companies, leads the learners to state the differences between quoted and unquoted companies, guides learners to name the examples of quoted and unquoted companies.
Learners Activities: The learners should list the differences between quoted and unquoted companies, prepare a list of quoted and unquoted companies in your locality.
Instructional Resources: charts, daily official list from NSC, books should be presented by the teacher.

Week 3: COMPANY ACCOUNT (CONT)
Financial system,
Definition
Components of financial system e.g. banks, insurance, NSE, SEC, CSCS etc
Money market,
Definition
Key functions
Market institutions.
Features of money market (short term).
Discuss the key functions of each components.
Describe the features of each component.
Teacher’s Activities: The Teacher should guide the learners to explain the term financial system, ask students to name the components of financial
system, illustrates functions and features of each component using charts and reports.
Learners Activities: The learners should listen, respond to questions by writing short notes on financial system, money market, capital market, insurance.
Instructional Resources: The Teacher should make available charts, posters, pictures, short market report to enhance the lesson.
4 METHOD OF FUNDS FROM THE CAPITAL MARKET
Methods; explain offer for sales, offer for subscription, right
issues, private placement.
Teacher’s Activities : The Teacher should lead definition on capital market, primary and secondary markets, segments of secondary markets, key functions, market institutions, State the features of capital market (medium or long term), insurance market; definition, key functions market institutions, features of insurance market.
Learners Activities: The learners should repeat after the Teacher in giving definition to offer for sale, offer for subscription,should list out the requirements for accessing the capital market, state the different benefits of capital markets.
Instructional Resources: The Teacher should make use of publication of SEC, NSE, video of activities on the floor of stock exchange, dividend warrant.
Week 5: BENEFITS OF CAPITAL MARKETS;
Benefits to individual investors.
Benefits to government.
Benefits to the economy.

Benefits to individual companies.
Teacher’s Activities: The Teacher should define capital market, primary and secondary markets, segments of secondary markets, key functions, market institutions, features of capital market (medium or long term), insurance market; definition, key functions market institutions, features of insurance market.
Learners Activities: The Teacher should define the terms offer for sale, offer for subscription, should list out the requirements for accessing the capital market, discus the different benefits of capital markets.
Instructional Resources: publication of SEC, NSE, video of activities or the floor of stock exchange, dividend warrant.
Week 6 ISSUES OF SHARES
Terminologies
Shares accountsmpreparation
Application account.
Allotment account
Calls accounts.
Teacher’s Activities: The Teacher should discuss the differences between classes of shares, highlights the differences between authorized issued shares, discuss the differences between issue of shares at par and at a premium, prepare account to issue shares, illustrate by showing share certificate.
Learner Activities: The learners should participate in the discussion of issues of shares and share account, draw a share certificate and study, take part in the preparation of account related to issue of shares.
Instructional Resources: The Teacher should make use ofcharts, pictures, publications, securities exchange commission, NSE, share certificate for the Lesson.
Week 7: PREPARATION OF SHARE ACCOUNT (CONT)
cash/bank account
share premium account
share discount account
share capital accounts;
preference shares account
Ordinary share capital account.
Teacher’s Activities: The Teacher should lead discussion on the differences between classes of shares, highlights the differences between authorized issued shares, discuss the differences between issue of shares at par and at a premium, prepare account to issue shares, illustrate by showing share certificate.
Learners Activities: The learners should participate in the discussion of issues of shares and share account, draw a share certificate and study, take part in the preparation of account related to issue of shares.
Instructional Resources: The Teacher should make use of charts, pictures, publications, securities exchange
commission, NSE, share certificate to facilitate the lesson.
Week 8: LOAN CAPITAL
Terminologies
Debentures
Mortgage
Interest
Preparation of debenture accounts.
Teacher’s Activities: The Teacher should explain the various terminologies associated with loan capital, illustrate the differences between shares and debenture account.
Learners Activities: The learners should listen and take notes, write short notes on the terminologies, under the supervision of the Teacher, should make excursion/fieldtrip to capital market.
Instructional Resources: publication, charts should be employed.
Week 9: COMPANY ACCOUNT (FINAL ACCOUNT)
Profit and loss appropriation account;-
Amount written off.
Goodwill
Preliminary expenses
Amount transferred to reserve;
Bonuses
Dividends.
Teacher’s Activities: The Teacher should prepare trading, profit and loss account, appropriation account, should show goodwill written off, preliminary expenses, amount transferred to reserve, bonuses and dividends.
Learners Activities: The learners should listen to the teacher, participate in the preparation of trading, profit & loss appropriation account showing goodwill
written off, preliminary expenses,transfers etc.
Instructional Resources: The Teacher should make provide charts, CAMD 1990, SEC & NSC requirement, copies of company’s
financial statement for the lesson.
Week 10: COMPANY ACCOUNT (FINAL ACCOUNT)
The company balance sheet; layout/format,
preparation, analyzing/interpretation.
Teacher’s Activities: The Teacher should prepare balance sheet using format, analyze the balance sheet, ratio analysis method.
Learners Activities: The Learners should listen to the teacher, participate in the preparation of balance sheet, analyze/interpret the balance sheet viz current ratio, rate of stock turnover, gross profit to turnover etc.
Instructional Resources: The Teacher should provide charts, CAMD 1990, SEC & NSC requirement, copies of company’ financial statement for the lesson.
Week 11: REGULATION OF THE CAPITAL MARKET
Meaning and reasons for regulations.
Types of regulations
Statutory regulation
Self regulation stock exchanges.
Nigeria stock exchange
Definition, outline.
Abuja stock and commodity exchange.
Teacher defines capital market and guides students to appreciate the need for regulating capital market, types of capital market, importance and tools of regulation, and to appreciate the
required attributes to capital market operators.
Learners Activities: The learners should explain the meaning of
regulation, outline the major types of regulation in the capital market, and the required attributes of capital market operators.

Lessons