ISSUE OF SHARES
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…
Acadlly Learning
Lesson Notes, Audio Lessons, Exam Questions
Acadlly Learning
Lesson Notes, Audio Lessons, Exam Questions
Category SS 3 Financial Accounting Notes (1st, 2nd & 3rd Term)
This SS 3 Financial Accounting notes cover lessons for all three terms (1st, 2nd, and 3rd).
These notes are meticulously organized to align with the WAEC and NECO syllabus, providing a clear breakdown of core topics in Financial Accounting.
Whether you’re preparing for exams or simply reinforcing your understanding, these notes are an excellent resource.
The topics covered in these notes include:
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Introduction to Accounting
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Accounting Concepts and Conventions
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Double-Entry System
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Financial Statements Preparation
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Cash Flow Statements
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Depreciation and Provision for Bad Debts
Each section is broken down into bite-sized, easy-to-understand explanations that make complex concepts more accessible. Perfect for SS 3 students aiming for success in their exams.
Study smarter with our detailed, exam-aligned notes and master Financial Accounting concepts.
Explore SS 3 Financial Accounting notes for 1st, 2nd & 3rd term, aligned with WAEC & NECO syllabus. Learn accounting concepts, financial statements, and more.
THE FINAL ACCOUNTS OF LIMITED LIABILITY COMPANIES
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…
COMPANY ACCOUNTS
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…
DISSOLUTION OF PARTNERSHIP
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 PARTNERS, GOODWILL AND REVALUATION OF ASSETS
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…
FINAL ACCOUNTS OF A PARTNERSHIP BUSINESS
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 ACCOUNTS
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…