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The SS1 Financial Accounting 1st Term Lesson Notes is a compilation of notes on the following topics:

Lesson One: Accounting and Bookkeeping – Page 2 – Click Here!
Unit 1 – History of Accounting
Unit 2 – Career Opportunities in Accounting
Unit 3 – Ethics of Accounting
Unit 4 – Benefits of Accounting Ethics
Unit 5 – Importance of Accounting and Book Keeping
Unit 6 – Difference Between Book Keeping And Accounting
Unit 7 – Users of Accounting Information
Unit 8 – Qualities of Accounting Information
Unit 9 – Benefits of Booking and Accounting
Unit 10 – Accounting Stages
Unit 11 – Terms and Abbreviations in Accounting

Lesson Two: Principles and Practice of Double Entry – Page 3 – Click Here!
Unit 1 – The Accounting Equation
Unit 2 – Double Entry Bookkeeping
Unit 3 – Cash and Credit Transactions
Unit 4 – Illustration of the Principle of Double-Entry

Lesson Three: Subsidiary Books and Source Documents – Page 4 – Click Here!
Unit 1 – Source Documents
Unit 2 – Subsidiary Books
Unit 3 – Reasons for subsidiary books
Unit 4 – Divisions of Subsidiary Books
Unit 5 – Sales Day Book
Unit 6 – Purchases Day Book
Unit 7 – Returns Inward Book
Unit 8 – Returns Outward Book
Unit 9 – The Journal
Unit 10 – The Cash Book

Lesson Four: Ledger – Page 5 – Click Here!
Unit 1 – Divisions of the Ledgers
Unit 2 – Nature of Ledger
Unit 3 – Definition of an Account
Unit 4 – Classifications of Accounts
Unit 5 – Rules for Debiting and Crediting
Unit 6 – Application of Double Entry System In The Ledger
Unit 7 – Ledger Posting

Lesson Five: The Cash Book – Page 6 – Click Here!
Unit 1 – single column cash book;
Unit 2 – double column cash book;
Unit 3 – three-column cash book; and
Unit 4 – petty cash book.

Lesson Six: Trial Balance and Errors – Page 7 – Click Here!
Unit 1 – What is Trial Balance
Unit 2 – Uses of Trial Balance
Unit 3 – Rules of Trial Balance
Unit 4 – How to Extract a Trial Balance
Unit 5 – Errors in the Books of Account
Unit 6 – Correction of Errors

Lesson Seven: Bank Reconciliation – Page 8 – Click Here!
Unit 1 – Introduction
Unit 2 – Reasons for Disagreement between the Cash Book and Bank Statement
Unit 3 – Preparation of Bank Reconciliation Statement
Unit 4 – Reconciliation Statement and Adjusted Cash Book

Evaluation Tests on SS1 Financial Accounting 1st Term Lesson Notes – Page 9 – Click Here!
SS1 Financial Accounting 1st Term Evaluation Tests – FREE Access (20 questions ONLY)
SS1 Financial Accounting 1st Term Evaluation Tests (Unlimited Questions)

Scroll Down to Select Page 2 for the next topic – Lesson One: Accounting and Bookkeeping


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