Public Sector Accounting Overview
This lesson covers the definition of public sector accounting and its importance. It explains the sources of government revenue and classifies expenditures into capital and recurrent. Key concepts and terms related to public sector accounting are also discussed.
- 07:06 “That means we don't prepare our accounts based on the fact that there are some people all in us, such as debtors or that we are all in some people, such as creditors. Our accounts is prepared based on amounts that comes...”
- 02:23 “and how such income is expanded. The public sector accounting is governed by the Constitution of the Federal Republic of Nigeria of 1979, financial control and management acts of 1958. Concepts used in government account...”
- 01:35 “involving the receipts and disbossments of government funds in a systematic way. The three words that I want us to take notes of are one recording financial transactions of the government. Two, disbossments, the receipts...”
Public Sector Accounting: Revenue and Expenditure
This lesson covers sources of government revenue and explains terms related to public sector accounting. It classifies expenditures into capital and recurrent categories and provides examples for preparing statements of revenue and expenditure.
- 00:00 “Hello viewers, I'm Mrs. Oyinloye and I'm to take you financial accounts. The topic we're looking at is public sector accounts part four, behavioral objectives. At the end of this lesson, Learner's will be able to differe...”
- 11:29 “that we have here, which you have been given already, and you have the items of expenditure and you prepare your statements of capital and revenue expenditure. Thank you for watching. I'm Mrs. Zoe Luier. Till next time.”
- 10:40 “expenditure. Now, what this question is asking us first and foremost to do is that you are to prepare the statements of recurrent expenditure. And how do you do that? You pick out items of recurrent expenditure. You come...”
Departmental Accounts
This lesson covers the definition and purpose of departmental accounts. It explains how to prepare these accounts to show the performance of different departments in a business. The lesson also discusses the advantages of using departmental accounts for comparison, error detection, and managerial as
- 09:31 “Some questions even ask for all these things. So you need to sit down and study closely. Let's look at the formats of a departmental accounts. The departmental accounts is usually prepared in a columnar form with separat...”
- 00:10 “Hello viewers, you're welcome to Financial Accounts class, and Mrs. Oyiniloye. The topic we're taking today is departmental accounts. At the end of the lesson, learners should be able to want to define departmental accou...”
- 08:45 “Why? Because when you buy goods from customers, you receive discounts from them. And so the basis for allocation of such expense is the purchases. And then rental income. The basis for apportionment is the floor area. I...”
Financial Institutions Overview
This lesson defines financial institutions and lists the types of banking and non-banking financial institutions. It also explains the key differences between these institutions and their functions in the economy.
- 06:38 “require them if they are able to meet their requirements. The agent of payment that they serve as agent of payments for their customers for instance those customers who have current accounts in commercial banks they just...”
- 02:33 “What do we mean by liabilities here? Liabilities we are talking about are the deposits of the customers of the banks and other financial institutions. Those deposits within the banking financial institutions are counted...”
- 19:24 “Issuing houses, insurance companies, development banks, building societies, national provident fund, stock exchange, advantages of capital markets. The following are the advantages of capital markets. Provision of long-t...”
Government Revenue and Expenditure
This lesson covers the classification of government revenue into revenue receipts and capital receipts. It also explains government expenditure, distinguishing between capital and recurrent expenditure. Students will learn how to prepare statements of revenue and expenditure accounts.
- 00:00 “Hello viewers I am Mrs. Oyinloye. Welcome to Financial Accounting Class. We are looking at Public Sector Accounting, Part 3. At the end of the lesson, Lennas would be able to differentiate between government revenue and...”
- 08:00 “interest on fixed deposits accounts is a revenue item, but allocation is a revenue item, rent from shops is a revenue item, sanitation fees is a revenue item, thinking of balls is an expenditure item and then constructio...”
- 08:50 “preparation. Now the revenue and expenditure statements is prepared following the profits and loss accounts principle. Now in preparing your profits and loss accounts, your profits or your items of income are credited th...”
Revenue Types
This lesson defines revenue and explains its three main types: total revenue, average revenue, and marginal revenue. It covers how to calculate each type and their relationships to production and sales.
- 03:31 “So, without wasting time, let's look at worth, illustration, and respect of worth of these beautiful topics. This question is taken from 1988 of your SSC past questions. And whether I like it or not, the question will al...”
- 05:10 “So, let's get the words, the solution to these words, so this interesting question won't have to the other. Look at the board, here you have what, P is on the wall, it's first on the CR, remember the formula I give to us...”
- 07:57 “Use words, MR, do you have MR there, yes, so what's formula for MR, so your MR equals the word, change in CR, over words, change in words, quantity, Zanke, so, so briefly, what do we do from here, what's our MR, since yo...”
Cost of Production
This lesson covers the concept of cost in economics, focusing on the cost of production. It explains different types of costs, such as fixed and variable costs, and discusses the factors of production that contribute to overall costs.
- 04:54 “How does an account count view cost, do they view cost in the same perspective? No. Do we agree to mean that, though an account cost is viewed in terms of world's money costs? And when we say money costs, what does it me...”
- 08:58 “So these are the accountants and the economist's points of view. Accountant's cycles, in terms of money costs, economic cycles, in terms of opportunity calls. Now, take note of these, in the example you may be asked, are...”
- 16:04 “you calculate your worth, your total cost, please take note, your total cost here is going to be worth, it's going to be fixed cost, plus worth, plus variable cost, okay, remember the first one I get to you is worth, is...”
Commercial Arithmetic: Profit and Loss
This lesson covers the concepts of profit and loss in commercial arithmetic. Students will learn to identify cost price and selling price, and how to calculate profit or loss these values. The lesson also includes calculating profit or loss in percentage.
- 15:48 “In the hope of getting more money back, you get that. So, when there is a loan, there is an investment, there is going to be an interest. So, looking at the relationship between the three. Now, looking at it, there are t...”
- 00:00 “Hello, my name is Oyase. Sunday. I will be taking you mathematics JSS2 class. We're looking at an interesting topic for today. The topic is transaction in the home and offices. Transaction in the home and offices, we're...”
- 31:24 “Remove to the evaluation. Evaluation questions are questions I enable you to give you to solve. Questions relating to what we've discussed. And the evaluation sessions, a debt collector received 20% commission on how mon...”