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 fee, work certified.

–           Work-in-progress, calculation of percentage of work completed.

–           Preparation of contract Account.

2.         Interpretation of Financial statement – calculation of ratios e.g liquidity ratio, acid test ratio, working capital etc.

3.         Departmental Account – Meaning

            –           Reason for departmental Account

            –           Inter Departmental transfer.

            –           Lost Apportionment.

            –           Preparation of departmental Account.

            –           Differences between branch and departmental Account.

4.         Branch Account

            –           Meaning, types of branches – Local, foreign.

            –           Reasons for the branch Account.

            –           Branch memorandum Account.

            –           Branch returns Account

            –           Branch debtors Account.

            –           Branch Profit and loss Account.

            –           Branch mark-up and margin.

5.         Public Sector Accounting.

–           Meaning, basis for preparation of Account, sources of government revenue.

–           Capital/Re-current expenditure.

–           Heads and sub-heads.

–           Types of fund.

–           Capital and revenue Account.

–           Income and expenditure Account.

–           Differences between government Accounting and public sector Accounting – Term in government Accounting.

6.         Preparation of personnel cost Budget.

7.         Revision

8.         Mock Examination.