Week 1: Consolidation of Financial Statements
Lesson: Understanding the consolidation process for group companies.
Activity: Group project – consolidating financial statements for a fictional group.
Week 2: Ratio Analysis
Lesson: Introduction to financial ratios and their significance.
Activity: Analyzing financial statements to calculate key ratios.
Week 3: Cash Flow Statements
Lesson: Preparation and interpretation of cash flow statements.
Activity: Practical exercises involving cash flow statement creation.
Week 4: Accounting for Non-Profit Organizations
Lesson: Exploring the unique aspects of accounting for non-profits.
Activity: Analyzing financial statements for a non-profit organization.
Week 5: International Financial Reporting Standards (IFRS)
Lesson: Overview of IFRS and its impact on financial reporting.
Activity: Case study – applying IFRS principles to financial statements.
Week 6: Forensic Accounting
Lesson: Introduction to forensic accounting and its role in investigation.
Activity: Simulated case study – applying forensic accounting techniques.
Week 7: Accounting Information Systems
Lesson: Understanding the role of technology in accounting.
Activity: Exploring accounting software and its practical application.
Week 8: Environmental Accounting
Lesson: Exploring the environmental impact of business activities.
Activity: Research and presentation on the concept of environmental accounting.
Week 9: Corporate Governance and Ethics
Lesson: Importance of corporate governance and ethical considerations.
Activity: Group discussion on ethical dilemmas in accounting.
Week 10: Emerging Trends in Accounting
Lesson: Overview of current trends and advancements in accounting.
Activity: Research and presentation on a selected emerging trend.
Week 11: Revision Week
Lesson: Reviewing key concepts covered in the term.
Activity: Practice tests and discussions to reinforce understanding.
Week 12: Examination Week
Lesson: Final preparation for the term examination.
Week 13: School Dismissal Week
Lesson: Wrapping up the academic year with reflections on the course.
Activity: Student presentations on lessons learned and practical applications.
FAQs
What is the main focus of SS1 Third Term Bookkeeping?
The third term in SS1 Bookkeeping focuses on understanding basic bookkeeping principles, including ledger posting, trial balance preparation, and simple journal entries. Students also learn to reconcile accounts and understand the relationship between various financial records.
Which topics are covered in the SS1 Third Term Scheme of Work?
The scheme of work for this term typically includes topics such as introduction to ledgers, double-entry bookkeeping, preparation of trial balances, correction of errors, and basic financial statements. It is designed to ensure students grasp both practical and theoretical aspects of bookkeeping.
How are students assessed during the third term?
Assessment is conducted through continuous class exercises, quizzes, practical bookkeeping tasks, and end-of-term examinations. Students are expected to demonstrate accuracy in recording transactions and the ability to prepare correct financial statements.
Why is learning bookkeeping in SS1 important for students?
Bookkeeping provides students with foundational knowledge in managing financial records, understanding business transactions, and developing analytical skills. Mastery at this level prepares them for more advanced accounting studies in higher classes and practical application in business environments.
Also Read: SS2 Second Term Financial Account Lesson Note and Scheme of Work
