Week 1: Partnership Accounts
Lesson Note: Introduction to partnership accounting principles.
Scheme of Work: Formation of partnership, capital accounts, and profit-sharing ratios.
Activities: Case studies, group discussions on partnership transactions.
Week 2: Joint Venture and Consignment Accounts
Lesson Note: Understanding joint ventures and consignments in bookkeeping.
Scheme of Work: Practical application of joint venture and consignment accounting.
Activities: Simulated joint venture projects, consignment exercises, and class discussions.
Week 3: Branch Accounting
Lesson Note: Explanation of branch accounting principles.
Scheme of Work: Treatment of branch transactions and preparation of branch accounts.
Activities: Group activities, analyzing branch transactions, and case studies.
Week 4: Manufacturing Accounts
Lesson Note: Introduction to manufacturing accounts.
Scheme of Work: Calculating cost of production, work in progress, and finished goods.
Activities: Hands-on exercises, factory visit if possible, and discussions on manufacturing processes.
Week 5: Departmental Accounts
Lesson Note: Understanding departmental accounting and its significance.
Scheme of Work: Allocation and apportionment of expenses, preparation of departmental accounts.
Activities: Group projects, practical examples, and discussions on departmental performance.
Week 6: Royalties and Hire Purchase
Lesson Note: Explanation of accounting for royalties and hire purchase.
Scheme of Work: Recording transactions related to royalties and hire purchase agreements.
Activities: Case studies, practical exercises, and discussions on income recognition.
Week 7: Incomplete Records
Lesson Note: Dealing with incomplete records in bookkeeping.
Scheme of Work: Reconstruction of financial statements from incomplete records.
Activities: Practical examples, case studies, and hands-on exercises on incomplete records.
Week 8: Non-Profit Organizations
Lesson Note: Accounting principles for non-profit organizations.
Scheme of Work: Preparation of income and expenditure accounts, balance sheets for non-profits.
Activities: Analyzing financial statements of non-profits, group discussions, and case studies.
Week 9: International Accounting Standards
Lesson Note: Introduction to International Accounting Standards (IAS).
Scheme of Work: Application of relevant IAS in bookkeeping.
Activities: Research on specific IAS, practical exercises, and discussions on global accounting standards.
Week 10: Forensic Accounting
Lesson Note: Overview of forensic accounting principles.
Scheme of Work: Practical application in detecting and preventing fraud.
Activities: Case studies, forensic accounting simulations, and discussions on ethical practices.
Week 11: Revision Week
Lesson Note: Comprehensive review of second-term topics covered.
Scheme of Work: Revision exercises and solving past questions.
Activities: Mock tests, group discussions, and clarification of doubts.
Week 12: Examination Week
Lesson Note: Final preparations for second-term examinations.
Scheme of Work: Mock exams and preparation strategies.
Activities: Exam-oriented drills, time management exercises, and last-minute revision.
Week 13: School Dismissal Week
Lesson Note: Recap of the term’s achievements and lessons.
Scheme of Work: Final assessments and feedback.
Activities: Closing ceremony, reflection, and distribution of progress reports.
FAQs
What is the main focus of the SS2 second term bookkeeping lessons?
The second term bookkeeping lessons for SS2 primarily focus on advanced aspects of financial record-keeping, including the preparation of trial balances, ledger balancing, correction of errors, and understanding the basic principles of final accounts. Students also learn how to interpret financial statements and apply bookkeeping principles in practical scenarios.
How is the scheme of work for SS2 second term structured?
The scheme of work is organized to cover topics sequentially, starting with a review of previous term concepts, followed by new topics such as suspense accounts, trial balance preparation, correction of errors, and preparation of final accounts. Each topic is allocated a specific number of weeks, including time for exercises, assessments, and revision to ensure comprehensive understanding.
What types of exercises and assessments are included in the SS2 second term bookkeeping lessons?
Exercises typically include practical ledger postings, trial balance preparation, identifying and correcting errors, and preparing basic final accounts. Assessments may involve written tests, class assignments, and practical bookkeeping exercises to evaluate students’ accuracy, understanding, and ability to apply concepts in real-life accounting situations.
Why is understanding trial balance and error correction important in SS2 bookkeeping?
Mastery of trial balance preparation and error correction is crucial because it forms the foundation for accurate financial reporting. It enables students to identify discrepancies in financial records, correct mistakes efficiently, and develop confidence in preparing accurate final accounts, which are essential skills for both academic progression and practical business applications.
Also Read: SS1 Second Term Office Practice Lesson Note and Scheme of Work
