SS1 Second Term Financial Account Lesson Note and Scheme of Work
SS1 Second Term Financial Account Lesson Note and Scheme of Work:
Week 1-2: Depreciation and Asset Valuation
Lesson Note:
Understanding depreciation methods
Valuation of assets in financial statements
Activities:
Practical examples of different depreciation methods
Class discussions on the impact of asset valuation on financial statements
Week 3-4: Creditors and Debtors
Lesson Note:
Management of accounts payable and accounts receivable
Bad debts and provision for doubtful debts
Activities:
Role-play exercises on creditor and debtor interactions
Case studies on bad debts and provision for doubtful debts
Week 5-6: Partnership Accounts
Lesson Note:
Introduction to partnership accounting
Distribution of profits and losses in a partnership
Activities:
Group projects on partnership accounting
Discussions on the advantages and disadvantages of partnerships
Week 7-8: Manufacturing Accounts
Lesson Note:
Costing of production
Treatment of manufacturing costs in financial statements
Activities:
Calculations of manufacturing costs for various products
Analysis of manufacturing accounts in real-life scenarios
Week 9-10: Cash Flow Statements
Lesson Note:
Importance of cash flow statements
Preparation and interpretation of cash flow statements
Activities:
Practical exercises on creating cash flow statements
Group discussions on the significance of cash flow in decision-making
Week 11: Revision Week
Lesson Note:
Review of key concepts covered in the second term
Activities:
Comprehensive revision exercises
Q&A sessions for clarification
Week 12: Examination Week
Lesson Note:
Preparing for the end-of-term examination
Activities:
Mock examination
Revision of challenging topics
Week 13: School Dismissal Week
Lesson Note:
Recap of the term’s lessons
Distribution of graded examination papers
Activities:
Reflective session on the term
Providing feedback on students’ performance.
