SS2 Second Term Financial Account Lesson Note and Scheme of Work
Senior Secondary School 2 (SS2) Financial Accounting: Second Term Lesson Note and Scheme of Work
Week 1-4: Manufacturing Accounts
Week 1:
Objective: Introduce students to manufacturing accounts.
Activities:
Definition and Components of Manufacturing Accounts
Classification of Manufacturing Costs
Practical exercises on preparing manufacturing accounts
Week 2:
Objective: Explore the concept of cost accounting.
Activities:
Basics of Cost Accounting
Cost Centers and Cost Units
Application of cost accounting principles
Week 3:
Objective: Teach the preparation of financial statements in a manufacturing context.
Activities:
Manufacturing Income Statement
Statement of Comprehensive Income
Class discussions and practical exercises
Week 4:
Objective: Assess students’ understanding of manufacturing accounts.
Activities:
Group projects related to manufacturing scenarios
Review and discussion of project outcomes
Quiz on manufacturing accounts
Week 5-8: Non-Profit Organizations and Partnership Accounts (Continuation)
Week 5:
Objective: Explore accounting for non-profit organizations.
Activities:
Definition and Characteristics of Non-Profit Organizations
Accounting for Income and Expenditure
Case studies on non-profit organizations
Week 6:
Objective: Continue with partnership accounts and introduce adjustments.
Activities:
Adjustments for Interest on Capital
Admission and Retirement of Partners
Practical exercises on partnership adjustments
Week 7:
Objective: Teach dissolution of partnerships.
Activities:
Reasons for Dissolution
Calculation of Gains and Losses on Dissolution
Real-life case studies on partnership dissolution
Week 8:
Objective: Assess students’ understanding of non-profit organizations and partnership adjustments.
Activities:
Quiz on non-profit organization accounting
Review and discussion of quiz results
Practical exercises on partnership adjustments
Week 9-11: Cash Flow Statements and Ratio Analysis
Week 9:
Objective: Introduce students to cash flow statements.
Activities:
Purpose and Importance of Cash Flow Statements
Operating, Investing, and Financing Activities
Preparation of a Cash Flow Statement
Week 10:
Objective: Explore ratio analysis in financial accounting.
Activities:
Significance of Ratio Analysis
Calculation and Interpretation of Ratios
Application of ratios in financial analysis
Week 11:
Objective: Revision and reinforcement of previous concepts.
Activities:
Comprehensive review of topics covered in the term
Group discussions and problem-solving sessions
Practice tests in preparation for examinations
Week 12: Examination Week
Week 12:
Objective: Conduct end-of-term examinations.
Activities:
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.
Activities:
Distribution of report cards
Individual feedback sessions with students
Recommendations for further study and improvement
Note: This lesson plan extends the learning journey, building on the foundation laid in the first term. Adjustments can be made based on the pace and needs of the class.
