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Sunday, July 17, 2016

Ss 3 accounting scheme of work

SS3 FIRST TERM

Revision of SS2 WORK
Preparation of company income statement
Appropriation account of a company- goodwill, preliminary expenses, reserves, dividend, bonuses
Company balance sheet- vertical T format
Capital market
Meaning, reasons for regulation, types of regulation, condition for enlisting in capital market

Security and exchange commission
Functions, objectives, protection of investors, tools of regulation, registration, surveillance and monitoring, investigations, enforcement, rule making

Nigeria stock exchange
Definition, functions, operations

Members (jobbers, brokers etc.)

Abuja stock/ commodity exchange

Hire purchase/instalment payment account
Sellers and hirer ledger

Goods account, finance house

Hire purchase account/interest account

Consignment account
Meaning, terminologies (Decredere commission etc.)

Consignor and consignee accounts

Accounting entries in the books of the consignor

Accounting entries in the book of the consignee

Joint venture
Meaning, differences between joint venture and partnership

Joint venture (individual account)

Joint venture memorandum account

Revision
Examination
SECOND TERM

Contract account
Meaning, terminologies- notional profit, retention fee, and work certified

Work in progress, calculation of percentage of work completed

Preparation of contract account

Interpretation of financial statement- calculation of ratio e.g. liquidity ratio, acid test ratio, work capital etc.
Departmental account- meaning
Reasons for departmental account

Inter departmental transfer

Lost apportionment- direct allocation, turnover basis, floor area etc.

Preparation of departmental account

Differences between branch and departmental account

Branch account
Meaning, types of branches- local, foreign

Reason for branch account

Branch memorandum account

Branch returns account

Branch debtor's account

Branch profit and loss account

Brach mark up and margin

Public sector accounting
Meaning basis for preparation of account, sources of government revenue

Capital/ re- current expenditures

Heads and sub heads

Capital and revenue account

Income and expenditure account

Differences between government accounting and public sector accounting- term in government accounting.

Preparation of personal cost budget
Revision
Mock examination

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