Lesson Notes, Audio Lessons, Exam Questions
Lesson Notes, Audio Lessons, Exam Questions
See our comprehensive Financial Accounting lesson notes which are tailored for students at all levels. Whether you are in JSS, SS, or university-level studies, our notes cover essential concepts, theories, and practical applications in accounting.
These notes are designed to align with WAEC, NECO, and university curriculum requirements.
Topics include:
Basic Accounting Principles
Financial Statements
Accounting for Assets and Liabilities
Depreciation Methods
Cash Flow and Financial Analysis
Management Accounting Techniques
Our lesson notes offer detailed explanations and step-by-step solutions, making it easier for students to grasp complex topics and prepare for exams.
Access Financial Accounting lesson notes for all classes, covering WAEC, NECO, and university-level topics. Learn key accounting principles and concepts with ease.
There are several organizations that are established and run for the purposes of meeting the social, cultural, health and , at times, educational needs of the citizens. Such organizations are not set-up for the purpose of making profits from their…
Introduction This topic is about how to prepare trading, profit and loss account under an incomplete record or single-entry accounting system. Meaning This is system of accounting of financial transactions that are recorded without conformity with the rule of double…
Under a situation whereby a firm or business accounting records were destroyed as a result of fire, flood or any other forms of natural disasters, such firm or business could still prepare its final account despite the facts that the…
Partnership changes usually occur during a financial year and the accounting records are contrived without interruption. Final accounts are prepared at the end of the financial year. When a partner leaves the firm or a new partner joins, it marks…
Goodwill is the amount by which the value of a business as a going concern exceeds the value of its net assets, if they were sold separately. It is an intangible asset because it cannot be touched or seen physically.…
Definition of Shares Shares can be defined as units of capital of ownership of a limited company. It is an ownership right in a company. A company cannot commence business until it raises capital by selling shares to the public…
Format of Trading Profit & Loss Account Trading Profit & Loss account for the year ended 31/12/9x Opening Stock x Stock x Add purchases x Less return inward x Less return outward x x Gross loss x Cost of goods…
A Company is a business owned, managed, controlled and financed by association of people which possess legal entity with the usual motive of maximizing owners’ wealth. KIND OF COMPANIES There are three kinds of companies. They are: Company Limited by…
Meaning To dissolve a partnership means to bring an existing partnership business to an end. This entails selling the assets of the business, paying its creditors and other liabilities and sharing the balance of cash left between or among the…
ADMISSION OF NEW PARTNERS This occurs when a new partner is admitted into an existing partnership business. The reasons for such admission usually are: expiration of old partnership agreement, to inject in more fund, bring in a specialist, death of…
PROFIT AND LOSS APPROPRIATION ACCOUNT OF A PARTNERSHIP This, as the name implies, is the account where either the profit or loss of the partnership business is shared between or among the partners as stipulated in the partnership agreement. The…
PARTNERSHIP can be defined as the relationship which exists between two or more persons who are carrying on business in common with a view to making profit. The rules governing the conduct of a partnership business is contained in the…
ACCOUNTING (ACC) SSS 3- FIRST TERM Company Accounts and the Regulation of the Nigerian Capital Market – Final Accounts – Regulation of the capital Market Commercial Accounting – Hire Purchase and Installment Payment Account – Consignment Account – Joint Venture…
ACCOUNTING SS 1- FISRT TERM Introduction and Historical Development of Booking-Keeping Accounting 1. Book Keeping and Accounting 2. Ethics of Accounting Principles and Concepts of Accounting 3. Principles of Double Entry 4. Accounting Concepts Journals and Cash Account 5. General…
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