SS1 Accounting Lesson Notes
FIRST TERM
1. Meaning Of Accounting2. The History of Accounting3. Accounting As A Profession4. Future Prospects5. Users of Accounting Information6. Accounting Equation7. The Need For Book Keeping And Accounting8. Keeping of Accounting Records As A Soul of Business9. Valuation of Stock10. Valuation of Assets11. Determination Debtors And Creditors12. Conservation of Assets13. The Concept of Accounting Ethics14. Accounting Ethics: Honesty, Transparency & Integrity15. Benefits of Accounting Ethics To The Profession & Society16. Meaning of Source Documents17. Types of Source Documents18. Meaning of Subsidiary Books19. Reasons For Subsidiary Books20. Types of Subsidiary Books21. Preparation of Subsidiary Books
SECOND TERM
1. Meaning of Double Entry2. Principles And Rules of Double Entry3. Application of The Rules With Ordinary Cash Book4. Double Column Cash Book With Emphasis On Contra-Entry5. Preparation of Double Column Cash Book6. The Three-Column Cash Book With Discounts Well Explained7. Preparation of Three-Column Cash Book8. The Ledgers – Meaning And Types9. Application To Double Entry Book Keeping From Cash Book10. Petty Cash Book: Meaning/Definition11. Advantages of Petty Cash Book12. Preparation of Petty Cash book13. Meaning of Trial Balance14. Rules of Trial Balance15. Uses of Trial Balance16. Uses of Trial Balance17. Trial Balance: Formation Layout18. Steps To Extract Balances From A Ledger Account19. Preparation of Trial Balance20. General Journal: Meaning And Definition21. Uses of The General Journal22. Advantages of A General Journal23. Errors In Accounting24. Errors That Affect The Trial Balance25. Errors That Do Not Affect The Trial Balance26. Correction of Errors And Preparation27. Meaning of Suspense Account28. Location And Correction of Errors29. Personal Account, Impersonal Account, And Real And Nominal Account
THIRD TERM
1. Bank Reconciliation Statement: Meaning/Definition2. Bank Statement3. Interpretation of Bank Statements4. Adjustments of Cash Books5. Preparation of Bank Reconciliation6. Define Accounting Concept.7. The Accounting Concepts: Entity Concept, Going Concept & Money Measurement8. Trading Account: Meaning/Definition9. Terminologies Used In Trading Account10. Preparation of Trading Account11. Profit And Loss Account: Meaning/Definition12. Identification of Profit And Loss Account Items13. Preparation of Trading, Profit And Loss Account14. Determination of Net Profit And Loss15. Bad Debts And Provision For Bad Debts: Meaning16. Meaning of Pre- Payments And Accruals & Distinctions Between Pre-Payment And Accruals17. Adjustments In Profit And Loss Account18. Provision For Depreciation On Fixed Assets: Meaning And Calculation of Depreciation19. Balance Sheet: Meaning/Definition20. Distinction Between Assets And Liabilities21. Identification of Types of Assets And Liabilities22. Preparation of Balance Sheet23. Control Account: Definition24. Features of Control Account25. Uses of Control Account26. Control Account Terminologies27. Meaning of Depreciation28. Reasons For Charging Depreciation29. Methods of Calculating Depreciation30. Meaning of Depreciation Account31. Straight Line/Fixed Installment Method32. Depreciation Account: Diminishing or Reducing Balance Method: Meaning, Formula, And Preparation