Connect with us

Hi, what are you looking for?

Secondary School Lesson Notes and Scheme of Work

SS2 First Term Financial Account Lesson Note and Scheme of Work

Sponsored Links

SS2 First Term Financial Account Lesson Note and Scheme of Work


Senior Secondary School 2 (SS2) Financial Accounting: First Term Lesson Note and Scheme of Work


Week 1-4: Introduction to Financial Accounting

Week 1:

Objective: Introduce students to the basics of financial accounting.


Definition of Financial Accounting

Understanding the Accounting Equation

Types of Accounts: Assets, Liabilities, and Equity

Week 2:

Objective: Explore the principles of double-entry accounting.


Explanation of Double-entry System

Recording Transactions

Practice Exercises on Double-entry

Week 3:

Objective: Teach the preparation of basic financial statements.


Income Statement: Revenue and Expenses

Statement of Financial Position (Balance Sheet)

Class discussions on financial statements

Week 4:

Objective: Introduce students to cash and accrual accounting.


Differences between Cash and Accrual Basis

Real-life examples and case studies

Practical exercises on recording transactions in both methods

Week 5-8: Special Journals and Subsidiary Ledgers

Week 5:

Objective: Explain the importance of special journals.


Introduction to Sales Journal and Purchases Journal

Examples of transactions suitable for special journals

Group work on recording transactions in special journals

Week 6:

Objective: Teach the concept of subsidiary ledgers.


Definition and Purpose of Subsidiary Ledgers

Creating Subsidiary Ledgers for Customers and Suppliers

Hands-on practice on maintaining subsidiary ledgers

Week 7:

Objective: Explore control accounts and their reconciliation.


Understanding Control Accounts

Reconciliation of Control Accounts

Class discussions and practical exercises

Week 8:

Objective: Assess students’ understanding of special journals and subsidiary ledgers.


Quiz on special journals and subsidiary ledgers

Review and discussion of quiz results

Group projects related to real-life applications

Week 9-11: Partnership Accounts

Week 9:

Objective: Introduce the fundamentals of partnership accounting.


Definition of Partnership

Types of Partnerships

Rights and Duties of Partners

Week 10:

Objective: Teach the preparation of partnership financial statements.


Income distribution in partnerships

Preparation of Partnership Income Statement

Capital and Current Account adjustments

Week 11:

Objective: Revision and reinforcement of previous concepts.


Comprehensive review of topics covered

Group discussions and problem-solving sessions

Practice tests in preparation for examinations

Week 12: Examination Week

Week 12:

Objective: Conduct end-of-term examinations.


Written examinations on all topics covered

Practical tests on application of accounting principles

Review of examination guidelines and expectations

Week 13: School Dismissal Week

Week 13:

Objective: Wrap up the term and provide guidance for self-study during the break.


Distribution of report cards

Individual feedback sessions with students

Recommendations for further study and improvement.

Share This:
Click to comment

Leave a Reply

You May Also Like

Sponsored Links

You cannot copy content of this page