SS2 First Term Bookkeeping Lesson Note and Scheme of Work

Week 1: Introduction to Bookkeeping Basics

Lesson Note: Begin with the fundamentals of bookkeeping, introducing terms like assets, liabilities, and equity. Discuss the importance of accurate financial records.

Activities: Class discussion on real-life examples, practical exercises in class.

Week 2: Double Entry System

Lesson Note: Dive into the double-entry system, explaining debits and credits. Illustrate how transactions impact both sides of the accounting equation.

Activities: Practice exercises on recording transactions, group discussions on challenging scenarios.

Week 3: Types of Accounts

Lesson Note: Explore various types of accounts – assets, liabilities, income, and expenses. Clarify the role each plays in financial statements.

Activities: Sorting transactions into respective accounts, analyzing sample financial statements.

Week 4: Recording Transactions in Journals

Lesson Note: Introduce the concept of journals and guide students in recording transactions chronologically.

Activities: Practical exercises in journalizing transactions, creating a class journal.

Week 5: Ledger and Posting Transactions

Lesson Note: Explain the ledger and demonstrate how to post journal entries to the ledger accounts.

Activities: Hands-on practice in posting transactions, comparing results in the ledger.

Week 6: Trial Balance

Lesson Note: Teach students to prepare a trial balance to ensure the equality of debits and credits.

Activities: Class exercises in constructing trial balances, discussions on common errors.

Week 7: Bank Reconciliation

Lesson Note: Discuss the importance of bank reconciliation and guide students through the process.

Activities: Practical reconciliation exercises, analyzing discrepancies.

Week 8: Depreciation

Lesson Note: Introduce the concept of depreciation and methods of calculating it.

Activities: Case studies on different industries, calculating depreciation for various assets.

Week 9: Financial Statements

Lesson Note: Explore the preparation of income statements, balance sheets, and cash flow statements.

Activities: Group projects to create financial statements for hypothetical companies.

Week 10: Ratios and Financial Analysis

Lesson Note: Introduce key financial ratios and teach students how to analyze them for decision-making.

Activities: Analyzing real company financial reports, calculating ratios.

Week 11: Revision Week

Lesson Note: Review key concepts, address any lingering questions, and provide additional practice.

Activities: Comprehensive review sessions, practice exams, and Q&A sessions.

Week 12: Examination Week

Lesson Note: Conduct examinations covering the entire term’s curriculum.

Activities: Written exams, practical assessments, and viva voce.

Week 13: School Dismissal Week

Lesson Note: Conclude the term by summarizing key learnings and providing resources for self-study.

Activities: Distribution of progress reports, setting goals for the next term, and a farewell class activity.