Secondary School Lesson Notes and Scheme of Work

SS3 First Term Financial Account Lesson Note and Scheme of Work

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SS3 First Term Financial Account Lesson Note and Scheme of Work


SS3 First Term Financial Accounting Lesson Note and Scheme of Work


Week 1: Introduction to Financial Accounting

Overview of financial accounting principles

Importance of financial accounting in business

Basic accounting terms and concepts

Classroom discussion on real-world applications

Week 2: Double Entry System and Journal Entries

Understanding the double-entry accounting system

Creating journal entries for various transactions

Practical exercises for students to practice journal entry skills

Week 3: Ledger and Trial Balance

Introduction to ledgers and their importance

Constructing a ledger for different accounts

Preparing and balancing a trial balance

Group activity: Ledger creation for a mock business scenario

Week 4: Subsidiary Books

Explanation of subsidiary books (Purchases, Sales, Returns Inwards/Outwards)

Practical examples of maintaining subsidiary books

Analyzing the impact on financial statements

Week 5: Bank Reconciliation Statement

Understanding the need for bank reconciliation

Step-by-step guide to preparing a bank reconciliation statement

Class exercise: Analyzing bank statements and reconciling differences

Week 6: Depreciation and Provision

Explanation of depreciation and its types

Provision for doubtful debts and bad debts

Calculation of depreciation and provisions

Case study: Calculating depreciation for a company’s assets

Week 7: Final Accounts – Trading and Profit & Loss Accounts

Preparing trading and profit & loss accounts

Understanding revenue and expense recognition

Group project: Students prepare final accounts for a given business

Week 8: Final Accounts – Balance Sheet

Introduction to the balance sheet

Components of the balance sheet (Assets, Liabilities, Equity)

Practical session: Creating a balance sheet for a fictional company

Week 9: Cash Flow Statements

Importance of cash flow statements

Operating, investing, and financing activities

Preparing a cash flow statement

Classroom discussion: Analyzing cash flow statements of real companies

Week 10: Financial Ratios

Overview of financial ratios and their significance

Calculation and interpretation of key ratios (e.g., liquidity, profitability)

Individual and group exercises: Analyzing financial statements using ratios

Week 11: Revision Week

Comprehensive review of topics covered in the term

Q&A sessions to address any doubts or concerns

Practice tests and quizzes to reinforce learning

Week 12: Examination Week

Conducting final examinations based on the term’s curriculum

Ensuring proper exam conditions and monitoring

Collecting and grading exam papers

Week 13: School Dismissal Week

Summarizing the term’s achievements and challenges

Providing feedback to students on their performance

Announcing any additional resources for self-study during the break.

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