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Exam Lessons Financial Accounting

Government or Public sector Accounting

Public sector accounting, also referred to as government accounting, refers to all the financial documents and records of public institutions […]

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Exam Lessons Financial Accounting

Branch Accounting

INTRODUCTION A branch of an organization whether business or non-business can be defined as a part of the organization operating […]

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Exam Lessons Financial Accounting

DEPARTMENT ACCOUNT

The most important objective of accounting is the segregation and recording of transactions of buying selling, production, distribution and administration […]

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Exam Lessons Financial Accounting

Contract Account

The contract account is a system of cost accounting used by contractors engaged in construction and building works, where it […]

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Exam Lessons Financial Accounting

SS3 2nd Term Financial Accounting scheme of Work

FINANCIAL ACCOUNTING SECOND –TERM S.S 3 SCHEME OF WORK WEEKS 1.         Contract Accounts –           Meaning, terminologies – National profit, retention […]

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Exam Lessons Financial Accounting

JOINT VENTURE ACCOUNT

Meaning of Joint Ventures It is a form of business involving two or more persons, firms joining together with the […]

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Exam Lessons Financial Accounting

CONSIGNMENT ACCOUNT

MEANING Consignment of goods: This is concerned with the sending of goods by the consignor to the consignee who agrees […]

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Exam Lessons Financial Accounting

HIRE PURCHASE ACCOUNT

INTRODUCTION Hire purchase is a method of extending credit to a buyer. Particularly for some capital goods. Purchase can be […]

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Exam Lessons Financial Accounting

Capital Market and Stock Exchange

DEFINITION This is also called stock exchange market. It is a highly organised market where investors can buy and sell […]

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Exam Lessons Financial Accounting

PREPARATION OF COMPANY INCOME STATEMENT

CONTENTS Profit and loss appropriation account and its uses Treatment of goodwill and preliminary expenses Amount transferred to reserve for […]