SS3 Third Term Financial Account Lesson Note and Scheme of Work
Scheme of Work: SS3 Third Term Financial Accounting
Week 1: Public Sector Accounting
Introduction to public sector accounting
Distinction between public and private sector accounting
Budgeting and financial reporting in the public sector
Week 2: Non-Profit Organizations
Accounting for non-profit organizations
Fund accounting and financial reporting
Challenges and peculiarities in non-profit accounting
Week 3: Forex Transactions and Accounting
Understanding foreign exchange transactions
Accounting for gains and losses in foreign currency
Impact of exchange rate fluctuations on financial statements
Week 4: Financial Statement Analysis
Techniques and tools for financial statement analysis
Ratio analysis and interpretation
Evaluating the financial health of an organization
Week 5: Risk Management in Accounting
Introduction to risk management
Identification and assessment of financial risks
Strategies for mitigating financial risks
Week 6: Ethics in Accounting
Importance of ethical behavior in accounting
Ethical challenges in financial reporting
Professional standards and codes of conduct
Week 7: Corporate Governance and Accountability
Overview of corporate governance
Accountability of management to shareholders
Role of auditors and regulatory bodies in ensuring accountability
Week 8: Accounting Information Systems
Role of information systems in accounting
Implementation and control of accounting information systems
Impact of technology on accounting processes
Week 9: Forensic Accounting
Introduction to forensic accounting
Detecting and preventing financial fraud
Role of forensic accountants in investigations
Week 10: Revision Week
Review of third term topics
Practice exams and group discussions
Week 11: Examination Week
Comprehensive examination covering all third term topics
Application-based questions and case studies
Week 12: School Dismissal Week
Recap of the academic year’s learning
Distribution of final grades and academic achievements
Guidance on further studies and career paths.
