SS2 Third Term Financial Account Lesson Note and Scheme of Work

 

Financial Accounting Lesson Note and Scheme of Work for SS2 First, Second, and Third Term

 

First Term:

 

Week 1: Introduction to Financial Accounting

 

Lesson Note: Basic concepts of financial accounting.

Scheme of Work: Overview of accounting principles and the accounting equation.

Activities: Class discussions on the importance of financial accounting in business.

Week 2: Accounting Equation and Transactions

 

Lesson Note: In-depth understanding of the accounting equation and basic transactions.

Scheme of Work: Recording transactions in the accounting equation format.

Activities: Practical exercises on identifying and recording transactions.

Week 3: Double Entry System

 

Lesson Note: Introduction to the double-entry system.

Scheme of Work: Understanding debit and credit entries.

Activities: Class exercises on applying double-entry principles.

Week 4: Books of Original Entry

 

Lesson Note: Overview of books like the Cash Book, Sales Day Book, and Purchase Day Book.

Scheme of Work: Recording transactions in the respective books.

Activities: Practical sessions on using books of original entry.

Week 5: Ledger and Posting

 

Lesson Note: Explanation of the ledger and the posting process.

Scheme of Work: Recording transactions from books of original entry to the ledger.

Activities: Hands-on exercises on posting entries to the ledger.

Week 6: Trial Balance

 

Lesson Note: Understanding the purpose and preparation of a trial balance.

Scheme of Work: Steps in preparing a trial balance.

Activities: Group work on creating a trial balance.

Week 7: Adjustments in Financial Accounting

 

Lesson Note: Introduction to adjusting entries.

Scheme of Work: Types of adjustments – accruals, prepayments, and depreciation.

Activities: Practical exercises on making adjusting entries.

Week 8: Financial Statements – Income Statement and Balance Sheet

 

Lesson Note: Explanation of income statements and balance sheets.

Scheme of Work: Preparation of income statements and balance sheets.

Activities: Group projects on creating financial statements.

Week 9: Cash Flow Statement

 

Lesson Note: Understanding the cash flow statement.

Scheme of Work: Preparation of a cash flow statement.

Activities: Class discussions on the importance of cash flow analysis.

Week 10: Ratio Analysis

 

Lesson Note: Introduction to financial ratios.

Scheme of Work: Calculation and interpretation of key financial ratios.

Activities: Analysis of financial statements using ratios.

Week 11: Revision Week

 

Lesson Note: Review of key concepts covered in weeks 1-10.

Scheme of Work: Revision exercises and practice questions.

Activities: Group discussions, quizzes, and review sessions.

Week 12: Examination Week

 

Lesson Note: Preparation for the final examination.

Scheme of Work: Mock exams and revision sessions.

Activities: Final review and exam strategy discussions.

Week 13: School Dismissal Week

 

Lesson Note: Recap of the term’s learning.

Scheme of Work: Final assessment and feedback.

Activities: Closing ceremony, distribution of reports, and farewell session.

Second Term:

 

Continue with the scheme of work and activities, adjusting content based on the curriculum and educational institution’s requirements.

 

Third Term:

 

Week 1: Advanced Partnership Accounting

 

Lesson Note: Complexities in partnership accounting.

Scheme of Work: Treatment of goodwill, admission, and retirement of partners.

Activities: Case studies and practical scenarios on advanced partnership transactions.