Business Studies JSS 3 Curriculum Guides – Book Keeping and Business Success
THEME – BOOK KEEPING AND BUSINESS SUCCESS
TOPIC 1 – FORMS OF TRIAL BALANCE
INSTRUCTIONAL MATERIALS
1. Ledger
2. Paper
3. Ruler
4. Exercise for practice
5. Sample of Trail balance, profit and loss account and loss account and balance sheet of small business.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. identify the forms of trial balance, Trading profit and loss account, balance sheet.
2. draw the form of trial balance, Trading profit and loss account, balance sheet.
CONTENTS OF THE LESSON
FOCUS LESSONS
Forms of trial Balance
1. Trading
2. Profit and loss account
3. Balance sheet
LESSON PRESENTATION
TEACHER’S ACTIVITIES
The teacher,
1. demonstrates the forms of trial balance , trading, profit and loss account, balance sheet.
2. supervises students to practice the form of trial balance, trading profit and loss account, balance sheet.
STUDENT’S ACTIVITIES
The students practice drawing the forms of trial balance, trading profit and loss account, balance sheet.
LESSON EVALUATION
Students to produce the forms of trial Balance e.g trading profit and loss account, Balance sheet, etc.
THEME – BOOK KEEPING AND BUSINESS SUCCESS
TOPIC 2 – TRADING, PROFIT AND LOSS ACCOUNT
INSTRUCTIONAL MATERIALS
1. Ledgers, trading, profit and loss accounts
2. Ruler
3. Calculator
4. Samples of practiced problems and exercises
5. Relevant textbooks/Workbook.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. state the purpose of trading, profit and loss account.
2. calculate the cost of goods cost.
3. determine net sales.
4. determine net profit or loss and gross profit.
5. outline the rules for the construction of a simple profit and loss account.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Purpose of trading profit and loss account
2. Trading account
3. Profit and loss account
4. Rules for constructing simple profit and loss account
LESSON PRESENTATION
TEACHER’S ACTIVITIES
The teacher,
1. guides learners in determining cost of goods sold, net sales and gross profit or loss.
2. prepares trading account.
3. prepares profit and loss account.
4. explains the rules for constructing profit and loss account.
5. supervises the learners to prepare trading, profit and loss account.
6. explains the importance of trading profit and los s account.
STUDENT’S ACTIVITIES
The students,
1. identify items on trading and profit and loss accounts.
2. practice exercises in calculating cost of goods sold, net sales and gross profit.
3. practice exercises in the preparation of trading, profit and loss accounts.
LESSON EVALUATION
Students to,
1. explain the purpose of trading profit and loss account.
2. determine the cost of good sold.
3. define net sale where there is returns.
4. calculate gross profit.
5. state the rulers of preparing trading, profit and loss account.
6. prepare trading, profit and loss accounts.
THEME – BOOK KEEPING AND BUSINESS
TOPIC 3 – TRIAL BALANCE
INSTRUCTIONAL MATERIALS
1. Ledgers
2. Board
3. Makers
4. Rulers
5. Exercise for practice.
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. explain the meaning of a trial balance.
2. state the function of a trial balance.
3. extract balances from ledgers to form trial balance.
4. use balances in the trial balance.
5. identify balance sheet.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Trial balance
- Meaning
- Uses
2. Balances that form the trial balance
3. Formation of trial balance from ledger
4. Identification of balance sheet items on the Trial Balance.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
The teacher,
1. demonstrates balancing of ledger and forming trial balance.
2. guides learners to prepare the trial balance.
3. supervises the learners to practice trial balance.
4. distinguishes between the profit and loss items in the trial balance.
5. guides learners to identify balance sheet items on the Trial balance.
STUDENT’S ACTIVITIES
The students,
1. practice balancing of accounts.
2. prepare trial balance.
3. list function of trial balance.
4. locate source of errors in trial balance.
5. Identify items of balance sheet on the trial balance.
LESSON EVALUATION
Students to,
1. list functions of trial balance.
2. prepare trial balance.
3. identify profit and loss items in trial balance.
4. identify balance sheet items in a trial balance.
THEME – BOOK KEEPING AND BUSINESS SUCCESS
TOPIC 4 – BALANCE SHEET
INSTRUCTIONAL MATERIALS
71. Trial balance
2. Balance sheet
3. Ruler
4. Calculators
5. White or black board
6. Exercises
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. explain the meaning of balance sheet.
2. state the items in a balance sheet.
3. state the uses of balance sheet;
4. classify assets into fixed and current
5. distinguish capital from liabilities;
6. differentiate between vertical and horizontal balance sheet.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Balance sheet
- Meaning
- Content
- Uses
2. Classification of items
- Asset
- Capital
- Liabilities
3. Preparation of simple balance sheet.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
The teacher,
1. explains the meaning of a balance sheet.
2. explains the uses of Balance sheet.
3. identifies the items of balance sheet.
4. prepares a balance sheet from Trial balance.
STUDENT’S ACTIVITIES
The students,
1. define a balance sheet.
2. list contents of balance sheet.
3. define assets, Liabilities, and Capital.
4. prepare balance sheet.
LESSON EVALUATION
Students to,
1. define balance sheet.
2. enumerate four items in a balance sheet.
3. state the uses of balance sheet.
4. classify assets.
5. define capital and liabilities.
6. mention two differences between vertical and horizontal balance sheet.
THEME – BOOK KEEPING AND BUSINESS SUCCESS
TOPIC 5 – PERSONAL FINANCE
INSTRUCTIONAL MATERIALS
1. List of commodities
2. Board
3. Markers
4. Calculators
5. Biographies
6. Books
7. Films
8. Posters
9. Cartoons
LEARNING OBJECTIVES
By the end of the lesson, students should be able to:
1. explain the meaning of personal finance.
2. state the uses of personal budget.
3. manage personal funds and keep records of expenditure.
4. identify goods that are of necessity.
5. explain what modesty is.
6. state the attributes of modesty.
7. identify the link between modesty and extravagance.
8. prepare personal budget.
CONTENTS OF THE LESSON
FOCUS LESSONS
1. Meaning of personal finance
2. Source of finance for individuals
3. Consumption and choice
4. Scale of preference
5. Modesty: Meaning.
6. Attributes:
- simplicity
- living within ones means
- contentment, etc.
6. Effects of living modesty:
- Self control
- Low tendency of corrupt practices
- Prudence, etc.
7. Link between Modesty and extravagances.
8. Preparation of individual budget.
LESSON PRESENTATION
TEACHER’S ACTIVITIES
The teacher,
1. defines personal finance.
2. discusses the attributes of modesty.
3. identifies good consumption habits, modesty living and extravagancy.
4. shows how to record personal expenses.
5. illustrates how to keep expenditure within means.
6. prepares a simple sample budget.
STUDENT’S ACTIVITIES
The students,
1. define personal finance.
2. list sources of funds.
3. identify areas of expenditure.
4. list needs and priorities.
5. debate on the need for modesty and modest living.
6. practice budgeting for individuals.
7. prepare simple personal budget.
LESSON EVALUATION
Students to,
1. define personal finance.
2. mention two uses of personal budget.
3. list five items of personal budget.
4. list two sources of funds and costs of goods required.
5. explain the meaning of modesty.
6. state three attributes of modesty.
7. prepare personal budget.