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

Lesson 1: Accounting Concepts – Click Here
Unit 1 – Business Entity Concept
Unit 2 – Going Concern Concept
Unit 3 – Money measurement
Unit 4 – Cost concept
Unit 5 – Accruals concept
Unit 6 – Matching concept
Unit 7 – Dual aspect concept
Unit 8 – Realisation concept
Unit 9 – Materiality convention
Unit 10 Convention of conservatism
Unit 11 Consistency convention
Unit 12 – Accounting Period Concept
Unit 13 – Balance Sheet Equation Concept

Lesson 2: The Final Accounts of a Sole Trader – Click Here!
Unit 1: Trading Account
Unit 2: Profit and Loss Account
Unit 3: Balance Sheet

Lesson 3: Depreciation of Fixed Assets – Click Here!
Unit 1: Meaning of Depreciation
Unit 2: Causes of Depreciation
Unit 3: Why do we Charge Depreciation?
Unit 4: Methods of Charging Depreciation
Unit 5: Straight Line Method
Unit 6: Reducing (Diminishing) Balance Method
Unit 7: Revaluation Method
Unit 8: Sum of Digits Method
Unit 9: Amortisation and Depletion
Unit 10: Stock Valuation

References
SCHAUM’S OUTLINE OF THEORY AND PROBLEMS OF BOOKKEEPING and ACCOUNTING 3rd Ed.
Essential Financial Accounting for Senior Secondary Schools – R.A. Ibrahim
Favell’s Bookkeeping 1 and 2 – Joseph Ibikunle
Financial Accounting for Senior Secondary Schools – B.A. Idowu

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