Pen-Write E-Library - Private

SCHEME OF WORK
WEEKS TOPICS
1. Revision of JSS II Work.
2. Tabulation exercise on simple column work with at least three
Columns.
3. Review of vowel sounds/short forms and phrases
- Abbreviation and circle, S/Z and doting.
4. Types of display headings (vertical and horizontal)
- Business letters display - fully blocked and semi-blocked style.
5. Standard sizes of papers and their uses e.g. foolscap, A4, A7 of
Quarto, A5, sixmo (6mo) A6.
- Erasing in typewriting, materials for erasing.
(a) Tipp-ex/correcting fluid.
(b) Typing eraser.
(c) Automatic typing eraser .6.
6. Procedure for erasing.
7. Revisions.
8. Mock Examination.
9. Mock examination.
10. J.S.C.E
11-12 J.S.C.E

NEW
WEEK TOPIC
1. Revision of First Term work
2. CONSUMER PROTECTION AND AWARENESS (i)Meaning (ii) Need for consumer Protection (iii) Consumer Awareness- right of the consumer (v) Organs of Consumer Protection.
3. BOOK KEEPING – THE TRIAL BALANCE (i) Meaning of trial Balance (ii) Balances that forms the . Trial - Balance (iii) Formation of Trial Balance from the Ledger. (iv) Identification of Balance Sheet items on the Trial Balance.
4. TRADING, PROFIT AND LOSS ACCOUNT (i) Purpose of trading account (ii) Trading account (i) Profit and Loss account (iii) Rules for constructing simple profit and loss account.
5. BALANCE SHEET (i) Meaning of Balance Sheet (ii ) Content of Balance Sheet- users of Balance Sheet (iii) Classification of Items:- Asset, Capital, Liabilities (iii) Preparation of Simple Balance Sheet.
6. Personal Finance:(i)Meaning of personal finance (ii)sources of finance to individuals (iii)consumption and choice (iv)scale of preference (v)Modesty:-Attributes-simplicity,living within ones`means,contentment etc (vi)Effects of living modestly:self control,low tendency of corrupt practices,prudence,etc.(vii)Link between Modesty and Extravagances.(g)preparation of individual budget.
7. Book Keeping Ethics:(i)Transparency ,accountability and probity-meaning, need for TAP, attributes of TAP.(ii)Due process-meaning,operation,truthfulness ,openness,fairness,impartiality,due process,respect for the rule of law etc (iii)problems created by lack of TAP and their solutions.
8. Shorthand Principles:(a)Compound Consonants:(i)meaning (ii)classification (b)Omission of consonant (i)tick() (ii)dots(.)
9. Speed Development in Shorthand: Passages(to be drawn by the teacher) on (i)Drug abuse (ii)Environmental pollution (iii)corruption (iv)HIV/AIDS
10. Revision

Topic: CONSUMER PROTECTION AND AWARENESS
CONTENT: (i) Meaning
(ii) Need for consumer Protection
(iii) Consumer Awareness- right of the consumer
(v) Organs of Consumer Protection.
Sub-Topic 1: MEANING OF AND NEED FOR PROTECTION
_________________________________________________________________________
MEANING OF CONSUMER PROTECTION
Every individual is a natural consumer. When goods have put into its final use it implies it has been consumed, In a bid to avoid exploitation consumer needs to be protected against hike in price, substandard goods, varying prices and inconsistent weight.
CONSUMER PROTECTION
Consumer Protection are efforts made by government, its agencies, civic societies, and certain individuals to prevent consumer from being cheated, or exploited by manufacturer or sellers of goods, or services. Consumer protection are also rules, guidelines, edicts or laws by Government , association or individuals to protect consumer interest against exploitation from Producers or sellers of goods.
NEED FOR CONSUMER PROTECTION
These are the reasons for consumer protection and they are:
(I) Lack of concern: - Producers generally does not have concern about consumer welfare. They are only interested in their profit or gain
(II) Consumer Ignorance:- Many consumers are ignorance of their right.
(III) Protection against harmful and dangerous goods
(IV) To ensure production of quality and durable goods.
(V) To educate the Public:- many consumers are not aware of the side effect of consuming certain goods, and the knowledge about the goods.
(VI) Maximum satisfaction:- To ensure consumer derive optimum utility
(VII) To check deceptive weight, and measurement.
(VIII) To guarantee or give warranty to goods not earlier inspected.
(IX) To reduce or prevent hoarding.
(X) To ensure advert that disclose immoral, exaggerated, or misleading information are curtail
Sub-Topic 2: CONSUMER AWARENESS AND ORGANS OF CONSUMER PROTECTION
CONSUMER AWARENESS
Consumers are important that is why they are regarded as King, Consumer awareness are the right of consumers, and they are;
I. Right to get value for money.
II. Right of Product information.
III. Right to safety.
IV. Right to choose or make choice
V. Right to seek redress.
VI. Right to be heard, not subject to duress or threat.
VII. Right to consumer education.
VIII. Right to a healthy environment
IX. Right to all the good things of life.
ORGANS OF CONSUMER PROTECTION
These are bodies, organization, association or government agencies that promote consumer protection, some of which are:
Consumer Association or Consumer Protection Council of Nigeria:-
i. They educate consumer
ii. Help to provide redress.
iii. Ensure consumers that are exploited are compensated.
iv. Apply to court to obtain justice
v. Ensure manufacturer produce high quality product.
Department of Petroleum Resources (DPR ):- This is a federal government responsible for
i. Ensuring Filling Station sells fuel at approved pump price.
ii. Responsible to check that the volumes of fuel sold correspond to amount shown on the sales meters.
iii. Check the activities of hoarders in filling station.
National Agency for Food and Drug Administration Control (NAFDAC):-It’s also a federal government agency responsible for :-
i. Elimination of fake and adulterated food, drug, water and cosmetics.
ii. Enforces the law and prohibit importation and sale of fake food and drug.
iii. Educate consumers on the danger inherent in taking harmful goods.
iv. Empowered by statue to confiscated, arrest and destroy harmful goods and offenders.
Service com: a federal government agency established as a result of maladministration, corruption and inefficiency in government circles, to ensure:-
i. In-human treatments are reported.
ii. Consumers have access to quality demand.
iii. Redress is pursued in case of grievances or service failure.
National Drug Law Enforcement Agency:
Works against drug trafficking, categories if drug are Indian hemp, cocaine, heroine and marijuana.
Environment protection Agency:
i. Concerned with maintaining high quality standard of hygiene and environmental health especially in public places.
ii. Protect and safeguard the natural environment.

Standard Organization of Nigeria (SON ):
Also a government agency responsible for:-
i. Production and sale of high quality product.
ii. Ensuring both local and international goods confirms to standard.
iii. Test product, and assign number to certified product.
iv. Convince consumers that tested and certified product have met required standard
Rent Tribunal:- Setup by government to:
i. Control rent charges and regulate activities of Landlord.
ii. Ensuring aggrieved tenant seeks redress.

Professional Bodies:
They are formed to regulate the practice of their profession, protect member’s right and consumers interest. Some of the Professional bodies are Nigeria Bar Association (NBA), Nigeria Medical Association (NMA), Institute of Chartered Accountant of Nigeria (ICAN), Chartered institute of Bankers (CIBN), The National Association of Nigerian Nurses and Mid-wives, etc.

Manufactures Association: Association of Producer.
i. They ensure that the producer produce goods that are of high quality.
ii. Ensuring that members don’t engage in unethical practices.
iii. Fight against non- arbitrary prices.
Public Health Department of Health:
Enforces sanitation and hygienic of restaurant, abattoir, and shops.

Federal Ministry of trade and Industry:
Ensure registration of business entity, regulate import and export and ensure compliancy with trade and industry rules.
Evaluation:
i. Define Consumer Protection.
ii. Mention six needs for consumer protection.
Iii. What is Consumer Awareness?
Iv. Enumerate eight right of Consumer.
V .List out 5 organs of Consumer Protection and their functions.
Weekend Assignment:
1. Everybody is a natural consumer this means that______ (a) Everybody eats (b) Everybody consumes (c) Everybody would have engaged in buying and selling.
2. Needs for consumer Protection excludes ____ (a) Consumers ignorance (b) Producers lack of concern (c) To make profit (d) To reduce hoarding.
3. Right to seek redress means _____ (a) Going to court (b) Suing the Producer if they produce substance goods (c) Returning substances goods
4. The right to get the cost of what you paid for is ____ (a) Right to life (b) Right to safety (c) Right to all good things of life (d) Right to get value for money.
5. The price for a product restrict your ____ (a) Right to information (b) Right to education (c) Right to healthy environment (d) Right to choose or choice.
6. An effort made by government, its agencies, certain individual and civic societies to curtail producer excesses is called consumer_____ (a) Protection (b) Awareness (c) Information (d) Right.
7. The organ of consumer Protection responsible to protect and safeguard the natural environment is ____ (a) Federal Ministry of Trade and Industry (b) Public Health Department of Health (c) Ministry of Public Health (d) Environment Protection Agency.
8. Which of these is not an organ of Consumer Protection? (a) NAFDAC (b) SON (d) NDLEA (d) CIA.
9. National Drug Law Enforcement Agency categories of drugs are____ (a) Tobacco, Cocaine , Indian hemp, and cigarette (b) Caffeine, Cocaine, Marijuana, and Coffee (c) Indian hemp, Cocaine, Heroine, and Marijuana.
10. The organ of Consumer Protection responsible for inspecting product and giving certification is ____ (a) NAFDAC (b) EPA (c) SON (d) DPR.

Topic: BOOK KEEPING – THE TRIAL BALANCE
Content: (i)Meaning of trial Balance
(ii) Balances that form the Trial – Balance
(iii) Formation of Trial Balance from the Ledger.
(iv) Identification of Balance Sheet items in the Trial Balance.

Sub-Topic 1: MEANING OF TRIAL BALANCE AND BALANCES THAT FORM THE TRIAL-BALANCE
THE MEANING OF TRIAL BALANCE:
A trial balance is a list of balances extracted from the ledger. It consists of individual debit and closing balances from various ledger account. It is primarily constructed to check arithmetic accuracy.It can be seen as a statement that shows individual credit and debit balance obtained from ledger account with the sum of each set of balances.
BALANCES THAT FORMS THE TRIAL BALANCE
The credit and debit balance of each transaction extracted from the ledger are balances that forms the trial balance. The trial balance can be prepared in two ways:
i. The Traditional ways
ii. The modern or conventional ways.
The traditional format: The traditional format considers the sub-totals of each ledger. .
The modern or Conventional method:
The modern format considers only the balance of the ledger account, otherwise known as the balance bought forward.
Sub-Topic 2: FORMATION OF TRIAL BALANCE FROM THE LEDGER
FORMATION OF TRIAL BALANCE FROM THE LEDGER
Every transaction must either be posted in the credit or debit side of the ledger account. This ledger must be balanced at the end of a stated or given period. To this end it implies that both sides of the account must be equal. The following must be taken into cognizant:
i. The heading of the Trial Balance.
ii. Cash book balance are ledger balance, therefore they are entered in the trial balance.
iii. Accounts that have credit balance in the ledger are entered in the credit side of the trial balance.
iv. Accounts that have debit balance in the ledger are entered in the debit side of the trial balance.
v. An account that has only one entry is not usually balanced.
INDENTIFICATION OF BALANCE SHEET ITEMS ON THE TRIAL BALANCE.
The Balance Sheet is a financial report created from the trial balance, when preparing balance sheet trial balance is the starting point. A Balance sheet is like a trial balance with account aggregate at a higher level. Balance sheet provides a snapshot of a company financial position on a given date. It contains totals of all assets, liabilities and shareholder equity.
Exercise: At the end of a trading period this ended on 30th November, 20. G. Dantata extracted the under-listed trial balance. You are now required to draw up a trading, profit and loss account for the year ended 30th Nov 19. And a balance sheet as at that date.
Trial Balance of Dantata as at 3oth November 20—
.CC





Dr Cr
#
Sales
Purchases 2,125.00
Air conditioning 195.00
Rent 220.00
Wages 360.00
General expenses 235.00
Fixtures and fitting 475.00
Debtors 800.00
Creditors
Bank 460.00
Cash 240.00
Loan from T.Madu
Capital
Stock 200.00
#5,310.00
#
3,310.00







450.00


500.00
1,500.00

#5,310.00

The trading profit, and loss account will be shown up thus:
G.Dantata Trading ,Profit and Loss Account for year ended 30th Nov 20….
# #
Sales
Less Purchase
Gross profit
Less expense:
Air conditioning 195.00
Rent 220.00
Wages 360.00
General Expenses 235.00
Net profit transferred to capital 3,310.00
2,125.00
1,185.00




1,010.00
#175.00

Vertical form Balance Sheet of G. Dantata as at 30th Nov. 20.00.
# # #
Capital 1,050.00
Add net profit for the year 175.00
#1,225.00
Fixed Assets:
Furniture and Fittings 475.00
Current Assets:
Stock 200.00
Debtor 800.00
Bank 460.00
Cash 240.00
1,700.00
Less:
Long term Liability:
Loan from T. Madu 500.00
Current Liability:
Creditors 450.00 950.00 750.00
Net working capital #1,225.00


Horizontal or T form Balance Sheet.
Capital & Liabilities: # #
Capital 1,050.00
Add net profit 175.00
1,225,00





Long Term Liabilities:
Loan from T. Madu 500.00
Current Liabilities:
Creditors 450.00
#2,175.00 Assets # #
Fixed Assets
Fixtures and Fitting 475.00
Current Assets:
Stock 200.00
Debtor 800.00
Bank 460.00
Cash 240.00
1,700.00




#2,175.00

Practice Exercise:- T.Ayo started business on 1st June with the following capital.
#
Cash in hand 20.00
Cash at bank 1,360.00
Jun 10. Bought from M. Adamu
Books 200.00
Bags 700.00
Jun 10 Bought goods in cash 600.00
Jun 12. Bought goods by cheque 80.00
Jun 12. Paid cash for stationery 6.00
Jun 15. Sold goods for cash 100.00
Jun 16. Paid cash for goods 4.00
Jun 18. Cash Sales to date 12.00
Jun 23. Cash Sales to date 740.00
Jun 30. Paid rent by cheque 50,00
Jun 30. Paid M. Adamu’s account in cash 900.00
Extract a trial balance and prepare a trading, profit and loss account and balance sheet as at 30th June 20—

Sub-Topic 1: TRADING, PROFIT AND LOSS ACCOUNT
CONTENT: (i) Meaning of trading account
(ii) Purpose of Trading Account
(iii) Profit and Loss account
(iv) Rules for constructing simple profit and loss account.

Sub-Topic 2: MEANING AND PURPOSE OF TRADING ACCOUNT
TRADING PROFIT AND LOSS ACCOUNT
The purpose of every business concern is to make profit. However before fixing price of a product the following are taken into consideration: cost of production, factors of production, age bracket, etc.
PURPOSE OF TRADING, PROFIT AND LOSS ACCOUNT
Trading account is prepared to ascertain gross profit or loss, while profit and loss account is prepared to ascertain net profit or net loss. It also helps to identify major revenue and expense items that affect net income.
TRADING ACCOUNT:
Trading account is a final account prepared to determine gross profit or loss by a business. The following must be taken into consideration when preparing trading account.
i. Opening Stock:- The value of items or goods in the store at the beginning of an accounting period.
ii. Closing Stock:- The value of goods or items in the end of the accounting period.
iii. Purchases:- Goods by the business for resale during an accounting year.
iv. Return Outward:- Otherwise known as purchase return, these are goods bought but returned due to one problem or the other. It is subtracted from Purchases.
v. Return Inward:- Otherwise known as sales return, these are goods bought by customers but returned back to due to one or two reason. It is subtracted from Sales.
vi. Sales:- Credit and cash sales for a given period, i.e. Amount collected or expected from goods sold for a given accounting period.
vii. Carriage inward:- These are transport fare for conveying goods for resale. It is added to Purchases.
viii. Cost of goods available:- The summation of opening stock, Purchases, and adding carriage inward, deducting return inward(sales return).
ix. Cost of goods sold:- Otherwise known as cost of sales, Opening stock plus purchasing less closing stock.
x. Gross Profit:- Excess of Sales over cost of goods sold.
Other formulae for trading, Profit and loss Account are:
1. Net Sales (Turnover):- Sales less return inward.
2. Net Purchase:- Purchase plus carriage inward less closing stock
3. Cost of goods available:- Opening stock plus net Purchases.
4. Cost of goods sold:- Cost of goods sold available less closing stock.
5. Gross Profit or loss:- Net Sales (Turnover) less cost of goods sold.
6. Net profit:- Gross profit plus other income less direct expense.
Sub-Topic 2: PROFIT AND LOSS ACCOUNT
PROFIT AND LOSS ACCOUNT.
The profit and loss account is prepared to know the real profit or loss, otherwise known as the net profit or loss. It is prepared to show the cost incurred during the year, items that are found in the profit and loss account are:- Gross profit bought forward from the trading account, and other expenses are:-
i. Discount received:- cash reduction received as a result of bulk purchase or prompt payment.
ii. Discount allowed:- cash reduction given as a result of bulk purchase or prompt payment.
iii. Rent:- Payment for landed property.
iv. Rates:- Charges for services rendered.
v. Advertising:- Cost for publicizing goods or creating awareness.
vi. Insurance:- Cost or charges for insuring property.
vii. Wages and Salaries:- Money paid to workers daily, weekly or monthly.
viii. Stationery:- includes postages, stamp, office pins and pen for office use.
ix. Lighting and Heating:- Cost of electricity incurred.
x. Telephone bills: Telephone charges
Most of the expenses incurred in profit and loss are called overhead expenses.
SIMPLE RULES FOR CONSTRUCTING TRADING, PROFIT AND LOSS ACCOUNT.
SIMPLE LAYOUT FOR TRADING ACOUNT
#
Opening Stock xxx
Add Purchases xxx
Add carriage inward xxx
Less Purchase return(return outward) xxx
Cost of goods available xxx
Less Closing stock xxx
Cost of goods sold xxx
Gross Profit c/d xxx
Xxx #
Sales xxx
Less Sales return(return inward) xxx
Net Sales xxx




¬¬¬¬¬___
xxx

SIMPLE RULES FOR CONSTRUCTING PROFIT AND LOSS ACCOUNT.
#
Rent xxx
Wages and Salary xxx
Discount allowed xxx
Motor Expenses xxx
Bad debt xxx
Rates xxx
Advertising xxx
Stationery xxx
Lighting and Heating xxx
Telephone bills xxx
Carriage outward xxx
Insurance xxx
General Expenses xxx
Net Profit c/d xxx
xxx
#
Gross Profit b/d xxx
Add Discount received xxx











___
Xxx

COMBINED TRADING, PROFIT AND LOSS ACCOUNT for year ended 31st December 20—
# #
Opening stock 2,400
Add Purchase 21,520
Less returns 300 21,220
23,620
Carriage inwards 1,350
24,970
Less closing stock 3,000
Cost of goods sold 21,370
Gross Profit c/d 11,050
# 32,420
Salaries 4,300
Rent and Rates 1,200
General Expenses 600
Insurance 200
Discount allowed 150
Electricity 356
Net profit c/d 4,584
11,390 # #
Sales 33,000
Less returns 580 32,420








Gross Profit b/d 11,050
Discount received 340




_____
11,390

VERTICAL LAYOUT OF TRADING PROFIT AND LOSS ACCOUNT for year ended 31st Dec. 20—
# # #
Sales 33,000
Less Returns 580 32420
Opening Stock 2,400
Add Purchases 21,520
Less returns 300 21,220
23,620
Carriage inwards 1,350 24,970
Less closing stock3,000
Cost of goods sold21,370
Gross Profit 11,050
Discount Received 340
Less Salaries 4,300
Rent and Rates 1,200
General expenses 600
Insurance 200
Discount Allowed 150
Electricity 356
Net profit 6,804
#4,584
Practice Exercise:- 1. What is a trading Account?
2 From the data below answer the questions that follow:
Sales 16,500
Opening Stock1,200
Purchases 10,760
Closing Stock 1,800
(a) Calculate the cost of good available for sale.
(b) Calculate the cost of goods sold.
(c) What is gross profit?
3. What is Profit and Loss Account?
4. The following are some of the balances extracted from the book of D. Williams as at 31st December 20--. You are required to prepare D. Williams trading, profit and loss account for the year ended 31st December 20..
Dr. Cr
# #
Purchases 18,750
Wages 1,000
Carriage inwards 120
Stock as at 1st January 20-- 6,500
Sales 28,600
Sales returns 150
Return outwards 125
Discount received 60
Discount allowed 45
Rent and Rates 180
Salaries 4,340
General Expenses 660
Electricity 580
Carriage outward 90

Topic: BALANCE SHEET
Content: (i)Meaning of Balance Sheet
(ii) Content of Balance Sheet- users of Balance Sheet
(iii) Classification of Items:- Asset, Capital, Liabilities
(iv) Preparation of Simple Balance Sheet

Sub-Topic 2: MEANING OF BALANCE SHEET AND CONTENT OF BALANCE SHEET_
At the end of every financial year, period or session, every individual, association, corporate bodies or organization likes to know their financial position.
MEANING OF BALANCE SHEET:
A Balance Sheet is a statement that shows the financial summary of a business. It shows the net worth of a business.
CONTENT OF A BALANCE SHEET:
A balance bears the following:-
i. Name of the Document i.e. Balance Sheet.
ii. Name of the owners of the Balance Sheet.
iii. The Date of Preparation of the Balance Sheet.
iv. Assets ( Fixed and Current )
v. Liabilities (Long term and Current)
vi. Capital.
USES OF BALANCE SHEET
It shows a reveals a careful analyzed vital information about the following:-
1. The nature and value of the liabilities of the Company.
2. The nature and extent of the liabilities of the business.
3. The business net worth.
4. The business source of finance.
5. Management efficiency in assets usage.
6. The business solvency or insolvency.




CLASSIFICATION OF ITEMS IN THE BALANCE SHEET.
Balance Sheet is broadly classified into two, namely (i) Assets (ii) Liabilities.
ASSETS:- Assets can be classified into two, they are (a) Fixed Assets (b) Current Assets.
a. Fixed Assets consists of Motor Vehicle, Plant and Machinery, Fixture and Fitting, Building, Equipment, Trade mark,
b. Current Assets consists of stock, cash in hand, cash at bank. Debtor, Amount prepaid,
LIABILITIES:-They are classified into two,(a) Long term Liabilities (b) Current
Liabilities
a. Long Term Liabilities consist of Debenture, Capital, Loan, Equity, Net profit
b. Current Liabilities consist of Creditors, rent or amount owing, Overdraft.
Sub-Topic 2: PREPARATION OF SIMPLE BALANCE SHEET
PREPARATIONOF A SIMPLE BALANCE SHEET.
Balance Sheet is prepared from Trial Balance. The Balances that remains after the trading,
Profit and loss Account has been prepared are transferred to the Balance Sheet. While
Transferring we post from the debit side of the trial balance to the assets side of the
Balance sheet, and from the credit side of the trial balance to the liabilities side of the
Balance Sheet. The net profit or loss is also transferred and any drawing during the year is
Subtracted from net profit N.B; -When given additional information i.e. its only information
In a business concern that pertains to the business liquidity ratio, together with prepaid and
Owing that are added or subtracted from the Balance Sheet.Current Assets less Current
Liabilities = working Capital or Net Current Assets
HORIZONTAL FORM OF BALANCE SHEET
This is the commonest form of Balance Sheet. It has two sides, right and left side. The assets
Which is debit balance are duly classified and shown in the right hand side of the balance
Sheet, while liabilities and Capital account which are credit are shown on the left hand side.

VERTICAL FORM OF BALANCE SHEET:
In the vertical form of Balance Sheet, the assets are
Listed in a vertical form in one or two Columns.Proponents of this presentation argues that
Assets and liabilities are presented in a normal reading pattern easily understandable by
Reader with little or no knowledge of Double entry book-keeping principles... In this pattern the fixed assets are first listed and added to working capital. The two items added to working capital to give the balance Sheet.
Example: The following list of balance as at the end of the year ended 31st March, 20 – has been extracted from the books of Basi and Sons, a business owned by Mr. Basi.
#
Capital 165,000
Land and Building at Cost 120,000
Motor Vehicle at cost 45,000
Net Profit 40,000
Creditors 15,000
Furniture and Fitting at cost 10,000
Stock of goods 20,000
Cash at Bank 20,000
Drawing 5,000
HORIZONTAL OR CONVENTIONAL LAYOUT OF BALANCE SHEET
Basi and Sons Balance Sheet as at 31st March 20 --
# #
Capital and liabilities
Capital 165,000
Add Net profit 40,000
205,000
Less Drawing: 5,000 200,000
Current liabilities
Creditors 15,000

_______
¬#215,000 # #
Assets
Fixed Assets
Land & Building (cost) 120,000
Motor Vehicle (cost) 45,000
Fixture and Fitting (cost) 10,000
175,000
Current Assets
Stock of goods 20,000
Cash at bank 20,000 40,000
#215,000

VERTICAL LAYOUT OF BALANCE SHEET.
Basi and Sons Balance Sheet as at 31st March, 20…

Fixed Assets
Land and Building at cost
Motor Vehicle at cost
Furniture and fitting at cost

Current assets
Stock of goods
Cash at Bank
These are financed by:
Capital
Net profit

Less drawing
Current Liabilities
Creditors # #
120,000
45,000
10,000 175,000


20,000
20,000 40,000


165,000
40,000
205,000
5,000 200,000
¬¬¬¬________
15,000
#215,000
¬¬¬¬¬¬¬¬¬¬¬¬¬¬


Practice Exercise: 1. Define Balance Sheet.
2. Mention four contents of Balance Sheet.
3. List out the uses of Balance Sheet.
4. What are the classifications of Balance Sheet?
Working Exercise: -The following balances have been extracted from the books of Mallam Ibrahim and Sons, a sole Proprietorship in textile business.
#
Capital 127,000
Motor Vehicle 30,000
Trade Creditors 6,000
Cash at Bank 40,000
Stock of goods 50,000
Trade Debtors 10,300
Prepare from the above a balance sheet in ( T ) and vertical forms.
1. What is the value of:-
i. Current Assets?
ii. Current liabilities?
iii. Working Capital?
iv. Net profit?
The Balances were taken from the books of F.Baji, a sole-trader, at 30th June 20.—after the preparation of the trading, profit and loss account for the year.
#
Buildings 50,000
Furniture and Fittings 15,000
Capital – 1st July 20 -- 80,000
Net profit for the year 15,680
Drawings 6,000
Stock, 30th June 20… 10,250
Debtors 6,740
Trade Creditors 6,030
Creditors for business expenses 60
Cash at Bank 1,280
Motor Vehicle 12,500
You are required to prepare F.Baji’s Balance Sheet as at 30th June 20--- in such a way to show the following, (i) Total of fixed Assets (ii) Total of Current Assets (iii) Total of current liabilities (iv) Working Capital (v) Value of net asset
(b) How will each of the following transaction affect F. Baji capital and working Capital.
(i) A trade creditor is paid #120 by cheque. (i) A new item of furniture to be used in the business is bought for #4,500. State how each transaction will affect, decrease, or increase Capital and working capital.

Topic: Personal – Finance
CONTENT: i. Meaning of personal finance
ii.Sources of personal finance for individuals
iii.Consumption and Choice
iv Scale of preference
v.Meaning and attributes of modesty
Sub-Topic 1: MEANING OF PERSONAL FINANCE AND SOURCES OF FINANCE TO INDIVIDUALS
MEANING OF PERSONAL FINANCE
Personal finance refers to the methods in which an individual manages his money assets and real assets.
Examples of money assets are –cash and money market instruments.
Examples of real assets are – land, buildings, furniture’s, equipment’s etc.
Sources of finance for individuals
The following are common sources of finance for individuals;
1. Loans from banks
2. Personal savings
3. Borrowing from friends and relations
4. Borrowing from family members
5. Credit facilities from supplier
Consumption and choice
Consumption is defined as the amount of things people use or buy while choice is defined as the decision one makes among the item is needed.
What an individual chooses depends on his purchasing power, prices of the goods and what he likes, it is therefore necessary to choose items of necessities and not luxury.
Such items are food, shelter, clothing, education and medical care.
Scale of preference
It is the arrangement an individual needs in order of priority is bringing in the most needed items before the luxuries .
Sub-Topic 2: MODESTY AND PERSONAL BUDGET
MEANING OF MODESTY:
This is a situation whereby an individual is not extravagant in spending but lives within his /her available income.
ATTRIBUTES OF MODESTY;
These are the attributes of modesty;
1. Living within ones means.
2. Honesty.
3. Prudence.
4. Contentment.
5. Simplicity.
EFFECTS OF LIVING MODESTLY
1 Self-control; the ability to control his spending or buying.
2. Low tendency of corrupt practices; living modestly will help to reduce corruption in the life of people.
3. Prudence; TO be careful and sensitive while spending.
4. Peace of mind.
5. High self – esteem.
LINK BETWEEN MODESTY AND EXTRAVAGANCES
Modesty talks about living within ones income while extravagancy involves spending ones earning.
Extravagance is the opposite of modesty .An extravagance person is known for the following;
1 .living above means.
2. Excessive and unnecessary spending
3. Unnecessary display of wealth .etc.
PREPARATION OF INDIVIDUAL BUDGET.
A budget is a tool for planning. It can also be defined as financial planning.
The starting point in preparing a personal budget is to make a list of your income each month .Example ;
1. Food
2. House rent.
3. Medical - care
4. Education.
5. Clothing.
6. Transport.
7. Miscellaneous.etc
EVALUATION:
1 Define personal finance.
2 List the sources of individual finance
3 Define scale of preference
4 Explain consumption and choice

Topic: BOOK -KEEPING ETHICS
CONTENT: i. Meaning of TAP
ii.Need for TAP
iii.Attributes of TAP
iv.Due process
v. Problems created by lack of TAP and their solutions.


Sub- Topic 1: THE MEANING OF TAP AND NEED FOR TAP

TRANSPARENCY
Transparency is the quality of being truthful l without a hidden agenda .A bookkeeper should transparent in carrying out his duties either in keeping valuable records or recording of business transaction .
ACCOUNTABILITY
Accountability means to be responsible for any action that takes place. A book- keeper should be ready to explain any points which seems to hidden to the officer involved in book-keeping accountability is very important.
PROBITY
Probity means uprightness and honesty of character. A book keeper should not falsify entries in any of the records.
Attributes of Probity
1 To follow laid down guidelines and regulation.
2 To reduce corruption: it helps to reduce corruption especially in private sectors.
3 Fairness to all: this means that financial dealing of any organization is handled in such a way that no one is cheated.
Sub topic 3; ATTRIBUTES OF T A P .
1 LOYALTY; An employee should act in the interest of his organization.
2 HONESTY. An employee should be honest and truthful at all times in all transaction.
3 RELIABILITY; He must be trustworthy for the organization to move forward.
4 Equity and sincerity.
5 Adequate records for internal and external reporting.
6 Clear process to guide activities.
Sub-Topic 2: MEANING OF DUE PROCESS
MEANING OF DUE PROCESS
This is act of doing something according to laid down rules or procedures or the process that should be followed in doing things.
Attributes of due process
The following are the attributes of due process;
1. Truthfulness
2. Openness
3. Fairness
4. Impartiality
5. Respect for the rule of law.
6. Equity
Let’s take a closer look at each of the attributes;
Truthfulness is the ac t of saying the truth always.
Openness is the act of making ones action and operation clear to all.
Fairness means giving equal consideration to all.
etc.
PROBLEMS CREATED BY LACK OF TAP AND THEIR SOLUTIONS;
1 lack of respect for approved guidelines; public officers will not follow the rule of law if there is no TAP.
2 Corruption; where there is no TAP in an organization, corruption will be rampart.
3 partiality ; where there is no TAP the personnel will favour their friends and relations.
SOLUTION;
1 Good orientation should be given to employers at all levels.
2 Responsible people should be employed to handle financial matters
Any corrupt person should be investigated and prosecuted.
EVALUATION:
Objective Test:
1. ……………… is the act of doing something according to laid down rules and procedures a. corruption b due process c. transparency d probity
2. …………. . implies the ability of an individual to be responsible for his action a. probity b transparency c. accountability d fairness.
Essay Test:
1. Explain the meaning of TAP.
2. What are the attributes of TAP?
3. List the need for TAP.

Topic: SHORTHAND PRINCIPLES
CONTENT i. Meaning of compound consonants
ii. Classifications of compound consonants.
iii. Omissions of consonants
Sub-Topic 1: MEANING OF COMPOUND CONSONANTS AND CLASSIFICATION OF COMPOUND CONSONANTS
MEANING OF COMPOUND CONSONANTS
This is the combination of multiple consonants pronounced as one.
CLASSIFICATION OF COMPOUND CONSONANTS
The compound consonants are classified into six, namely Kw, , Gw MP Lr, Rr, Wh.
EXAMPLES:
KW ………. quick, request, quantity, quote ,kwara etc.
GW ……… guava, linguist. Square, earthquake,
MP …….. Camp .stamp, dump, sympathy.
Who …….. White. Anywhere, where, whip.
Lr ……… ruler. Scholar, filler, counselor,
Rr ,,,,,,,, bearer, sharer ,poorer, fairer.


Sub-Topic 2: OMISSION OF CONSONANTS [TICK AND DOTS].
In some words we can omit some consonants for fast writing .when you see a small tick is written before consonants m, l and downward r , such tick represents consonants H. it is called tick H. e.g hello , whom , hall, home, holiday , her, harm, hurt, horse, help, hold ,here, hear, health. e. t c.
Where the shorthand sigh may look awkward to write , we can use a light dot placed alongside the vowel sound to represent consonant H . it is called dot H. e.g. perhaps, likelihood, household , neighborhood.
EVALUATION;
Objectives; 1. Compound consonants is divided into …………. a.2 b. 4 c. 6 d. 5 .
2 ……….. is the combination of multiple consonants pronounced as one .

Topic: SPEED DEVELOPMENT IN SHORTHAND.
CONTENT : PASSAGES ON ;
i. Drug abuse.
ii.Environmental pollution
iii.Corruption
iv.HIV/AIDS.
SUB -- TOPIC 1: DRUG ABUSE AND ENVIRONMENTAL POLLUTION
DRUG ABUSE
Drugs are meant to cure or prevent certain sicknesses . These days, young people take drugs and alcohol to do immoral things.
Drugs should be taken only when doctors ask you to do so. it is not good to take drugs that are not recommended by the doctor. When you do so, it is called drug abuse.
Again, when you take drugs to make yourself behave the way you are not supposed to, it is also drug abuse.
Take drugs and alcohol only when you are supposed to take them. That will make you live long.


ENVIRONMENTAL POLLUTION
The environment is said to be polluted when the atmosphere does not smell very well. It is always very poisonous to health when there is environmental pollution.
Other things that can cause sicknesses to human beings include; water pollution, noise pollution etc. Our surroundings should be kept clean. Those things that can bring noise should not be allowed to stay close to our homes.



SUB TOPIC 2; CORRUPTION AND HIV/AIDS
CORRUPTION
Corruption has eaten deep into our society .Today, people cry because of the way they are being treated , in hospitals, schools and their work places.
Days are gone when admission into the universities are done on merit.
Good schools are for the rich alone. If you do not have money to bribe your way through, nobody will give you admission. It becomes a case of whose money is greater. It is only God that will save us from these widely corrupt practices

HIV/AIDS
The most deadly disease in recent time is the HIV/AIDS epidemic.
This is the worst epidemic in the history of human race and its rate of spreading is hardly controllable in most parts of the world especially Africa.
This is termed the most destructive health crisis in modern times, ravaging families and communities around the world; this has posed a great public health problem globally leading to an increase in mortality rate.


EVALUATION:
Transcribe this passage into shorthand; cultism;
Do not involve in cultism. It kills .it can make your family lose you. When your involve yourself with a group that do things secretly or in the night, you are practicing cultism.
The bad effects of cultism are too many. Make sure you remove yourself from anything that will make you join them .A cultist is not a good friend. Avoid him.