2022/2023 First Term Financial Accounting Scheme Of Work For SS2

financial accounting

UNIFIED SCHEME OF WORK FOR FINANCIAL ACCOUNTING

CLASS: SENIOR SECONDARY SCHOOL TWO

TERM: FIRST  TERM SCHEME OF WORK

WEEK 1

Revision of SS One work

WEEK 2

TOPIC

Manufacturing account

CONTENT

  • Meaning and layout of manufacturing account
  • Terms in manufacturing account
  • Trading profit and loss account
  • Preparation of balance sheet

BEHAVIOURAL OBJECTIVES

  • Explain the term manufacturing account
  • Identify items in the manufacturing account
  • Prepares manufacturing account
  • Prepares trading, profit and loss account
  • Prepare balance sheet

INSTRUCTIONAL MATERIALS

  • Picture
  • Chart
  • Textbook
  • Chalkboard
  • Ruler

TEACHERS ACTIVITIES

  • Discuss manufacturing account
  • Draws the layout and explain
  • Identify the items in the manufacturing account
  • Prepares factoring, trading profit, and loss account
  • Prepares balances sheet

LEANER’S ACTIVITIES

Participates in the preparation of manufacturing, trading, profit & loss accounts, and balance sheet

WEEK 3

TOPIC

Manufacturing account

CONTENT

  • Treatment of manufacturing profit (market value) with trading, profit and loss account, and balance sheet
  • Work exercises on manufacturing, trading, profit and loss account

BEHAVIOURAL OBJECTIVES

  • Explains the term “market value of goods manufactured”
  • Preparations of manufacturing, trading, profit, and loss
  • Accounts on transfer pricing

INSTRUCTIONAL MATERIALS

  • Picture
  • Chart
  • Textbook
  • Chalkboard
  • Ruler

TEACHERS ACTIVITIES

  • Discuss the market value of goods manufactured
  • Prepares manufacturing, trading, profit and loss account

LEANER’S ACTIVITIES

Takes part in the reparation of the manufacturing, trading, profit, and loss account on transfer pricing

WEEK 4

TOPIC

Introduction to the partnership account

CONTENT

  • Meaning of partnership
  • Types of partners
  • Partnership deed
  • Terminologies in the partnership account

BEHAVIOURAL OBJECTIVES

  • Defines partnership
  • Identify types of partners
  • State the partnership deed
  • Explain the terminologies in partnership

INSTRUCTIONAL MATERIALS

  • Picture
  • Textbook
  • Chalkboard

TEACHERS ACTIVITIES

  • Explains the meaning of partnership
  • Identify types of partners
  • Discuss partnership deed

LEANER’S ACTIVITIES

  • Identify types of partners
  • Mentions items in the partnership deed

WEEK 5

TOPIC

Partnership account

CONTENT

  • Types of accounts in partnership
  • Profit and loss appropriation account
  • Work exercises on profit and loss appropriation account in partnership

BEHAVIOURAL OBJECTIVES

  • State types  of accounts in partnership
  • Determine net profit determine partner shame of profit 

INSTRUCTIONAL MATERIALS

  • Textbook
  • Chalkboard
  • Ruler

TEACHERS ACTIVITIES

  • Explains types of accounts in partnership
  • Prepare profit and loss appropriation account

LEANER’S ACTIVITIES

Participate in the preparation of profit and loss appropriation account

WEEK 6

TOPIC

Partnership capital and current account

CONTENT

  • Terminologies in partnership capital and current accounts
  • Prepare capital accounts
  • Prepare current accounts

BEHAVIOURAL OBJECTIVES

  • Identify the terms in capital and current accounts
  • Prepare capital account
  • Prepare current accounts

INSTRUCTIONAL MATERIALS

Chalkboard and ruler, textbook

TEACHERS ACTIVITIES

  • Discuss terms in capital and current account
  • Prepare capital and current account together with the student

LEANER’S ACTIVITIES

Participate in the preparation of capital and current account

WEEK 7

TOPIC

Admission of new partner and goodwill accounts

CONTENT

  • Determine a new profit-sharing ratio
  • Treatment of goodwill in the partner’s book
  • Prepare a new partnership accounts

BEHAVIOURAL OBJECTIVES

  •  Explain the terminologies in the admission of new partners
  • Prepare goodwill account
  • Prepare a new partnership account

INSTRUCTIONAL MATERIALS

Textbook, chart

TEACHERS ACTIVITIES

  • Explain the terminologies in the admission of new partners
  • Prepare a goodwill account together with the learners

LEANER’S ACTIVITIES

Take part in the preparation of goodwill account

WEEK 8

TOPIC

Dissolution to partnership

CONTENT

  • Meaning of dissolution of the partnership
  • Reason for dissolution of the partnership
  • Accounting entries 

BEHAVIOURAL OBJECTIVES

  • Explain the dissolution of the partnership
  • Identify the reason for the dissolution of the partnership
  • Prepare necessary accounts e.g Realization accounting

INSTRUCTIONAL MATERIALS

Resource Person/ ruler and chalkboard

TEACHERS ACTIVITIES

Guides students to prepare all the necessary accounts

LEANER’S ACTIVITIES

Participate in the preparation of all the necessary accounts

WEEK 9

TOPIC

Accounting ratio

CONTENT

  • Introduction to ratio
  • Types of ratios (margin, mark-up, rate of stock turnover, etc)
  • Work exercises

BEHAVIOURAL OBJECTIVES

  • Define accounting ratio,
  • Calculate the accounting ratio

INSTRUCTIONAL MATERIALS

Calculator, ruler and chalkboard, textbook

TEACHERS ACTIVITIES

Explain accounting ration

  • Identify the accounting ratio
  • Leads the learners to calculate each of the accounting ratios

LEANER’S ACTIVITIES

  • Participate in the calculation of the accounting ratio
  • Work various exercises on accounting ratio

WEEK 10

TOPIC

Single entry or incomplete record

CONTENT

  • Meaning
  • Limitation of a single entry
  • Domination of opening and closing capital
  • Preparation of statement of affairs 

BEHAVIOURAL OBJECTIVES

  • Explain the meaning of the single entry system
  • State the limitation of a single entry
  • Determine opening and closing capital
  • Prepare a statement of affairs

INSTRUCTIONAL MATERIALS

Chalkboard and ruler, textbook, calculator

TEACHERS ACTIVITIES

  • Discuss single entry system
  • Identify the limitation of the single entry system
  • Guide the learners to determine the opening and closing statement of affairs

LEANER’S ACTIVITIES

Listen to the definition of a single entry system

Participate in the determination of opening and closing capital

WEEK 11

TOPIC

Single entry system

CONTENT

  • Determination of profit and loss from the statement of affairs
  • Preparation of final account from incomplete records
  • Determine profit and loss from the statement of affairs
  • Prepare: (i) Trading, profit, and loss (ii) balance sheet

INSTRUCTIONAL MATERIALS

Chalkboard and ruler, textbook

TEACHERS ACTIVITIES

  • Guide students to determine profit or loss from the statement of affairs
  • Lead the learners to prepare full final accounts from incomplete record

LEANER’S ACTIVITIES

  • Determine profit or loss from a single entry
  • Participate in the preparation of full final accounts from incomplete record

WEEK 12

Revision and examination

WEEK 13

Examination

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