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Secondary School Lesson Notes and Scheme of Work

SS2 Third Term Financial Account Lesson Note and Scheme of Work

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SS2 Third Term Financial Account Lesson Note and Scheme of Work


Week 1-4: Advanced Financial Reporting

Week 1:

Objective: Introduce advanced financial reporting concepts.


Comprehensive review of financial statements

Introduction to International Financial Reporting Standards (IFRS)

Practical exercises on IFRS application

Week 2:

Objective: Explore consolidated financial statements.


Understanding the consolidation process

Preparation of consolidated balance sheets and income statements

Case studies on group accounting

Week 3:

Objective: Teach accounting for associates and joint ventures.


Definition and characteristics of associates and joint ventures

Equity accounting method

Practical exercises on accounting for associates

Week 4:

Objective: Assess students’ understanding of advanced financial reporting.


Group projects on complex financial reporting scenarios

Review and discussion of project outcomes

Quiz on advanced financial reporting concepts

Week 5-8: Taxation in Financial Accounting

Week 5:

Objective: Introduce the basics of taxation in financial accounting.


Types of taxes and their implications

Preparation of tax computations

Practical exercises on tax accounting

Week 6:

Objective: Explore Value Added Tax (VAT) and its accounting treatment.


Definition and application of VAT

VAT calculations and recording transactions

Case studies on VAT accounting

Week 7:

Objective: Teach students about corporate income tax.


Understanding corporate income tax regulations

Taxable income determination

Practical exercises on corporate income tax

Week 8:

Objective: Assess students’ understanding of taxation in financial accounting.


Quiz on taxation principles

Review and discussion of quiz results

Group projects related to real-life tax scenarios

Week 9-11: Auditing and Assurance

Week 9:

Objective: Introduce the fundamentals of auditing.


Definition and importance of auditing

Types of audits and auditors

Practical exercises on audit planning

Week 10:

Objective: Explore internal and external audit procedures.


Internal control systems

Audit evidence and documentation

Case studies on audit procedures

Week 11:

Objective: Revision and reinforcement of auditing concepts.


Comprehensive review of auditing 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 advanced financial reporting, taxation, and auditing principles

Review of examination guidelines and expectations

Week 13: School Dismissal Week

Week 13:

Objective: Wrap up the term and provide guidance for further studies.


Distribution of report cards

Individual feedback sessions with students

Recommendations for additional resources and self-study during the break

This outline serves as a general guide. Please ensure that it aligns with the specific curriculum and objectives set by the educational authorities. Adjustments may be needed based on the actual curriculum requirements.

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