Term: 2^nd Term

Week: 6

Class: Senior Secondary School 3

Age: 17 years

Duration: 40 minutes of 2 periods each

Date:

Subject: Financial accounting

Topic:- Public sector account IV

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

Mention and explain the types of government revenue
Prepare a revenue and expenditure statement

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION	TEACHER’S ACTIVITY	STUDENT’S ACTIVITY
STEP 1 INTRODUCTION	The teacher reviews the previous lesson on public sector accounting	Students pay attention
STEP 2 EXPLANATION	She mentions and explains the types of government revenue	Students pay attention and participates
STEP 3 DEMONSTRATION	She shows the learners how to prepare a revenue and expenditures statement	Students pay attention and participate
STEP 4 NOTE TAKING	The teacher writes a summarized note on the board	The students copy the note in their books

NOTE

PUBLIC SECTOR ACCOUNTING

The government revenue is classified into two:

1. Revenue receipt

2. Capital receipt

Revenue Receipt: This is the total amount of revenue collected by the government of a country from the major sources of income.
Capital Receipt: These are the total revenue received from proceeds of sales of assets and loans tied to projects. E.g. sales of assets, loans from institution tied to project etc.

ILLUSTRATION

The following balances have been extracted from the book of YOYO local government for the year ended 31^st December 2013

HEAD ITEMS ₦

	General revenue balance	500,000.00
201	Salaries and wages	300,000.00
202	Maintenance of road	230,000.00
204	Telephone and postages	120,000.00
205	License	210,000.00
301	Lines	342,000.00
302	Repairs of motor vehicles	111,000.00
303	Statutory Allocation	56,000.00
304	Renovations of halls	23,000.00
305	VAT allocation	500,000.00
401	Interest on fixed deposit accounts	45,000.00

402	Rent from shops	230,000.00
404	Sanitation fees	332,000.00
503	Sinking of bore holes	200,000.00
504	Constructions of market	234,000.00

You are required to prepare a revenue and expenditure Statement for the YOYO local government for the year ended 31st December, 2013

REVENUE AND EXPENDITURE STATEMENT FOR THE YEAR ENDED 31^ST DECEMBER 2013

HEAD

EXPENDITURE

AMOUNT

HEAD

REVENUE

AMOUNT

201

202

204

302

303

304

503

504

Salaries

Maintenance of roads Telephones & postage Repairs of vehicle Stationery Renovation of Halls Sinking of borehole

Construction of Market

300,000.00

230,000.00

120,000.00

111,000.00

56,000.00

23,000.00

200,000.00

234,000.00

205

301

401

305

402

404

Balance Licenses

Fines statutory alloc. Interest on depot.

VAT allocation Rent from shops Sanitation

5000,000.00

210,000.00

342,000.00

45,000.00

5000,000.00

230,000.00

332,000.00

EVALUATION: 1. Mention and explain the types of government revenue

The Education Department of DLHS local government incurred the following expenses in 2013.

Construction of classroom	500,000
Purchase of table and chairs	50,000
Purchase of textbooks for library	40,000
Annual inter-house sport competition	20,000
Payment of teachers salary	80,000

What is

the capital expenditure
the recurrent expenditure

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively

Lesson Notes By Weeks and Term - Senior Secondary 3