The New Senior Secondary

Curriculum for Sierra Leone

Subject Syllabus for Business Accounting
Subject stream: Economics, Business & Entrepreneurship

This subject syllabus is based on the National Curriculum

Framework for Senior Secondary Education. It was prepared
by national curriculum specialists and subject experts.
Building Young Futures
MBSSE’s Senior Secondary School Curriculum

Curriculum elements for Business Accounting – an applied subject

Subject definition
This subject has two key words, “Business” and “Accounting”.
Business is referred to as any individual or organization that is engaged in the production and trading of goods, services or both in exchange for a
financial reward leading to the satisfaction or wealth maximization of the individual or organization.
Accounting is the practice of recording and reporting on business transactions.

Business Accounting deals with the application of accounting principles to business enterprises. The resulting information is an essential feedback loop
for management, so that they can see how well a business is performing against expectations. The discussion of business accounting is needed to
give the pupil grounds from which to understand how an accounting system works and how it is used to generate financial reports. It also involves the
review of product costs, examining operating variances, engaging in profitability studies, bottleneck analysis, and many other operational topics.

Rationale for the Inclusion of Business Accounting in the Senior Secondary School Curriculum
Business Accounting education facilitates basic comprehension of both financial and costing principles in managing small businesses accounts. It will
enable learners to have a fundamental background and will necessitate:
a) It creates employment opportunities,
b) It will expose pupils to the world of accountancy and help them to prepare accounts for businesses.
c) It ensures proper management of business books,
d) It instils confidence and introduces the interrelationship between business and accounting.
e) Develops their initiative and helps them to be more creative in managing business books
f) It creates Self-confidence in whatever they undertake

General Learning Outcomes (Broad Goals)

At the end of the course, pupils will be able to:
• understand Business Accounting and its role in business transactions
• appreciate and apply the rules and functions of accounting as they apply to organization
• assemble, analyse and ascertain the cost of producing and procuring goods and services

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MBSSE’s Senior Secondary School Curriculum

• develop skills for using Business Accounting as a tool for assisting management with information needed for planning, control and decision
making
• acquire the skills required for critical thinking and prudent decision making the application of business accounting concepts
• show awareness of economic use of resources through costing techniques
• demonstrate knowledge of basic methods of presenting cost statements

Structure of the Syllabus Over the Three Year Senior Secondary Cycle
SSS 1 SSS 2 SSS 3
Term 1 • Introduction to Accounting • Control Accounts • Costing Methods
• Double Entry Principles • Manufacturing Accounts
• Capital and Revenue Expenditure

Term 2 • Accounting Concepts • Departmental and Branch • Costing Techniques

• Bank Reconciliation Accounting
Statements • Accounting for Goods and Service
Tax
• Accounting for Material
Term 3 • Financial Statements of a Sole • Accounting for Labour • Budgeting and Budgetary Control
Trader • Financial System • Information Technology in
Accounting

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Teaching Syllabus
SENIOR SECONDARY YEAR – SSS 1, Term 1
Topic/Theme/Unit
Introduction to Business
Accounting
➢ Definition of terms such as
business, accounting,
transaction, bookkeeping,
capital, assets, liabilities,
income, expenses and
profit
➢ Types of business
activities: trading,
manufacturing and
provision of services
➢ Types of business
organisations: sole
proprietor such as vendors, ➢ Explain the
small to medium
enterprises, partnerships,
limited companies
➢ Importance of accounting
➢ Users of accounting
information such as
households, managers,
banks, proprietor
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Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
Pupils should be able ➢ Defining accounting ➢ Explanation/Discussion ➢ Assignment or
to: terms ➢ Group discussion Assessment
➢ Define accounting ➢ Explaining ➢ Display of charts ➢ Group presentations
terms accounting terms showing the different ➢ Response of the pupils
➢ State the different ➢ Identifying the Users of accounting
types of business different types of information
activities and business activities ➢ Black/White board
organisations and organisations
➢ Explain different types ➢ Discussing different
of business activities types of business
and organisations activities and
➢ Distinguish different organisations
types of business ➢ Stating examples of
organisations different types of
business activities
importance of and organisations in
accounting the local community
➢ Identify the main ➢ Discussing the
users of accounting differences in the
information types of business
organisations
➢ Explaining the
importance of
accounting
➢ Listing users of
accounting
information
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MBSSE’s Senior Secondary School Curriculum

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning

outcomes teaching methods outcomes
➢ Discussing uses of
accounting
information.
➢ Visiting local
business
organisation’s
administrative
departments
Accounting cycle (Principles Pupils should be able ➢ Explaining ➢ Group students to ➢ Participation of pupils in
of Double Entry) to: accounting cycle discuss class by answering
➢ Accounting cycle: ➢ Define the accounting ➢ Defining the ➢ Quiz to test pupils questions
▪ transactions cycle accounting cycle cognitive
▪ source documents ➢ State the stages ➢ Memorising the ➢ Class discussion
▪ subsidiary books involved in the stages involved in ➢ Source documents
▪ two column cash book accounting cycle the accounting ➢ Books of accounts
▪ sales journal ➢ Illustrate stages cycle
▪ purchases journal involved in the ➢ Illustrating the
▪ sales returns journal accounting cycle stages involved in
▪ purchases returns ➢ Explain stages the accounting
journal involved in the cycle
➢ Use of books of original accounting cycle ➢ Explaining the
entry: ➢ Reproduce the stages involved in
▪ 3 column cash book accounting cycle the accounting
▪ general journal ➢ Name the subsidiary cycle
▪ petty cash book books ➢ Reproducing the
▪ ledger ➢ Describe the use of accounting cycle.
▪ trial balance subsidiary books ➢ Labelling the
➢ Classification, posting and ➢ Label the columns of columns of the
balancing ledger accounts the subsidiary books subsidiary books
➢ Use of folio numbers ➢ Classify transactions ➢ Classifying
transactions

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MBSSE’s Senior Secondary School Curriculum
Topic/Theme/Unit Expected learning
outcomes
➢ types of the ledgers and ➢ Record transactions in
ledger accounts subsidiary books
➢ Interpretation of ledger ➢ Explain the entries in
accounts the subsidiary books
▪ financial statements ➢ Define trade and cash
discount
➢ Calculate trade and
cash discount
➢ Explain the purpose of
the petty cash book
➢ Record transactions in
appropriate books
➢ Interpret the entries in
the subsidiary books
➢ Define the ledger
➢ Post entries from
subsidiary books to
the ledger
➢ Balance ledger
accounts
➢ State the types of
ledgers
➢ Classify ledger
accounts
➢ Explain the entries in
the ledger accounts
SENIOR SECONDARY YEAR – SSS 1, Term 2
Topic/Theme/Unit Expected learning
outcomes
Accounting Concepts Pupils should be able
➢ Meaning to:
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Recommended Suggested resources Assessment of learning
teaching methods outcomes
➢ Illustrating the
columns of
subsidiary books
➢ Matching
transactions with
subsidiary books
➢ Entering
transactions in
subsidiary books
➢ Interpreting entries
in the subsidiary
books
➢ Defining the ledger.
➢ Posting entries to
the ledger.
➢ Balancing ledger
accounts.
➢ Naming the types of
ledgers.
➢ Classifying ledger
accounts.
➢ Interpreting ledger
accounts.
➢ Explanation by the
teacher to the
pupils
Recommended Suggested resources Assessment of learning
teaching methods outcomes
➢ Explanation by ➢ Class discussions ➢ Individual participation
teacher and ➢ Assignment/Assessment
Building Young Futures
MBSSE’s Senior Secondary School Curriculum

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning

outcomes teaching methods outcomes
➢ Types ➢ Explain the meaning individual ➢ Group work and ➢ Group presentations on
▪ matching/accrual of accounting contribution by discussions the different types of
▪ prudence concepts pupils ➢ Textbook concepts
▪ going concern ➢ Explain the different ➢ Group discussions ➢ Black/White board ➢ Question and answer
▪ consistency concepts and apply with the help of session
▪ historical cost them charts/diagrams
▪ double entry ➢ Explain the been displayed
➢ Significance significance and
➢ Limitations limitations of the
concepts
Bank Reconciliation Pupils should be able
Statement to:
➢ Definition ➢ Prepare bank
➢ Importance reconciliation
➢ Preparation statement and identify
➢ Causes of differences and correct errors
between cash book ➢ Prepare updated cash
balance and bank book
statement balance ➢ Understand the
treatment of bank
overdraft
➢ Understand the
causes of the
differences between
cash book balance
and bank balance
SENIOR SECONDARY YEAR – SSS 1, Term 3
Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
End of Year Financial Pupils should be able to: ➢ Explanation by ➢ Group work and ➢ Demonstration of group
Statements teacher discussion presentation

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MBSSE’s Senior Secondary School Curriculum
Topic/Theme/Unit
➢ Purpose of income
statements.
➢ Preparing income
statements.
➢ Explaining what statements
of financial position are.
➢ Drawing up a statement of
financial position
End of Year Adjustments
➢ Prepayments and accruals
for income and expenses
(ledger accounts not
required)
➢ Depreciation:
▪ causes and methods
▪ reducing balance
method
▪ straight line method
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Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
➢ Define income ➢ Class discussion ➢ Groups discussions ➢ Response from
statements ➢ Class work ➢ Charts/Diagram students
➢ Explain the need for ➢ To direct the minds
income statements of the pupils to key ➢ Black/White board
➢ Draw up income areas as of each
statements lesson
➢ Define statements of ➢ Give notes and
financial position other reading
➢ Prepare statements of materials
financial position ➢ Explanation
➢ Illustration
➢ Class work
Pupils should be able to: ➢ Class discussion ➢ Groups discussions ➢ Reponses from pupils
➢ Define accruals and ➢ Class work ➢ Charts/Diagram ➢ Interpretation of the
prepayments ➢ To direct the minds ➢ Black/White board Maslow’s Hierarchy
➢ Show adjustments for of the pupils to key need pyramid
accruals and areas as of each
prepayments in end of lesson
year financial ➢ Give notes and
statements other reading
➢ Define depreciation materials
➢ State causes of ➢ Practical examples
depreciation of concepts
➢ Calculate depreciation ➢ Encourage pupils to
using the given watch videos or
methods listen to audios
relating to the topic
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MBSSE’s Senior Secondary School Curriculum

SENIOR SECONDARY YEAR – SSS 2, Term 1

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
Control accounts Pupils should be able to: ➢ Explanation by ➢ Textbook ➢ Response from
➢ Types ➢ Define control teacher ➢ Black/white board students on the class
➢ Purposes accounts ➢ Class discussion ➢ Flipcharts and work
➢ Preparation ➢ State the purposes of ➢ Class work markers ➢ Assignments on all
➢ Sources of information control accounts ➢ To direct the minds ➢ Projector topics
➢ Name the types of of the pupils to key ➢ Tests on topics covered
control accounts areas as of each ➢ Group discussions and
➢ Identify sources of lesson presentations
information for control ➢ Give notes and
accounts other reading
➢ Prepare control materials
accounts ➢ Practical examples
of concepts
➢ Encourage pupils to
watch videos or
listen to audios
relating to the topic
➢ Constructing control
accounts
Manufacturing accounts Pupils should be able to: ➢ Explanation by ➢ Charts/diagrams ➢ Presentation on the
➢ Purpose of manufacturing ➢ Know the purpose of teacher ➢ Textbook topic by selected pupils
accounts manufacturing ➢ Class discussion ➢ Black/white board ➢ Explanation done by
➢ Cost classification in accounts ➢ Class work students on what they
manufacturing accounts ➢ Do cost classification ➢ To direct the minds understand from the
➢ Preparation of final in manufacturing of the pupils to key topic
accounts of manufacturing accounts areas as of each
concern ➢ Prepare final lesson
accounts of ➢ Give notes and
manufacturing other reading
concern materials

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MBSSE’s Senior Secondary School Curriculum

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning

outcomes teaching methods outcomes
➢ Practical examples
of concepts
➢ Encourage pupils to
watch videos or
listen to audios
relating to the topic
Capital and Revenue Pupils should ➢ Explanation by ➢ Textbook ➢ Assessment/
Expenditure understand: teacher ➢ Black/White board Assignment
➢ Definitions of capital ➢ Accounting for capital ➢ Class discussion ➢ Response from
and revenue and revenue ➢ Class work students on questions.
expenditure expenditure in ➢ To direct the minds ➢ Presentation on the
➢ Differences and financial statements of the pupils to key topic by selected pupils
identification of capital ➢ Effects of incorrect areas as of each ➢ Explanation done by
and revenue classification on: lesson students on what they
expenditure ▪ profit ➢ Give notes and understand from the
▪ non-current assets other reading topic
▪ working capital materials
items ➢ Practical examples
of concepts
SENIOR SECONDARY YEAR – SSS 2, Term 3
Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
Accounting for Labour Pupils should be able to ➢ Explanation by ➢ Class discussion ➢ Assessment/
➢ Meaning and types of show they: teacher ➢ Charts/diagrams Assignment
labour and labour cost: ➢ Know the meaning ➢ Class discussion ➢ Textbook ➢ Response from
▪ Skilled and unskilled and types of labour ➢ Class work ➢ Black/White board students on class
▪ Direct and indirect and labour cost ➢ To direct the minds presentations
➢ Methods of labour ➢ Can explain/apply the of the pupils to key
remuneration: methods of labour areas as of each
▪ Time rate remuneration lesson

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MBSSE’s Senior Secondary School Curriculum
Topic/Theme/Unit
▪ Piece rate: straight
piece rate, differential
piece rate, piece rate
with guaranteed time
rate.
▪ Incentive schemes:
premium bonus,
overtime premium
➢ Methods of time keeping
and concept of idle time.
➢ Payroll procedures:
▪ Preparation of wages
analysis sheet
▪ Statutory and non-
statutory deductions
should be emphasized
▪ Labour Turnover:
meaning, causes and
cost
▪ Labour turnover ratio
Financial systems
➢ Meaning and components
➢ Meaning, functions and
features of:
▪ Money market
▪ Capital market
▪ Insurance market
➢ Methods of raising funds
from the capital market:
▪ Offer for sale
▪ Offer for subscription
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Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
➢ Can explain the ➢ Give notes and
methods of time other reading
keeping and concept materials
of idle time ➢ Practical examples
➢ Know how to prepare of concepts
a payroll ➢ Encourage pupils to
➢ Can explain the watch videos or
meaning, causes and listen to audios
cost of labour turnover relating to the topic
and calculate labour
turnover ratio
Pupils should be able to ➢ Explanation by ➢ Class discussion ➢ Assessment/
show they: teacher ➢ Charts/diagrams assignment
➢ Know the meaning, ➢ Class discussion ➢ Textbook ➢ Response from
functions and features ➢ Class work ➢ Black/white board students on class
of: ➢ To direct the minds presentations
▪ Money market of the pupils to key
▪ Capital market areas as of each
▪ Insurance market lesson
➢ Understand methods ➢ Give notes and
of raising funds from other reading
the capital market: materials
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MBSSE’s Senior Secondary School Curriculum

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning

outcomes teaching methods outcomes
▪ Rights issue ▪ Offer for sale ➢ Practical examples
▪ Private placement ▪ Offer for of concepts
➢ Requirements for accessing subscription ➢ Encourage pupils to
the capital market ▪ Rights issue watch videos or
➢ Benefits of capital market ▪ Private placement listen to audios
to: ➢ Understand the relating to the topic
▪ Investors requirements for
▪ Government accessing the capital
▪ Economy market
▪ Individual company ➢ Know the benefits of
➢ Types, features and capital market to:
reasons for regulation ▪ Investors
▪ Government
▪ Economy
▪ Individual
company
➢ Understand the types,
features and reasons
for regulation
SENIOR SECONDARY YEAR – SSS 3, Term 1
Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
Costing methods Pupils should be able to ➢ Explanation by ➢ Textbook ➢ Response from the
➢ Purpose and circumstances show they: teacher ➢ Black/white board questions asked by the
under which job/batch ➢ Know the purpose and ➢ Class discussion ➢ Class discussion teacher
costing is applied circumstances under ➢ Class work ➢ Assessment/
➢ Ascertainment of cost of a which job/batch ➢ To direct the minds assignment
job or batch costing is applied of the pupils to key
➢ Meaning and ➢ Can ascertain the cost areas as of each
characteristics of a job or batch lesson

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Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning

➢ Preparation of contract
accounts and contractee
account
➢ Meaning and objectives of
service costing
➢ Organizations that use
service costing
➢ Ascertainment of cost per
unit of services rendered.
➢ Explanation and
circumstance where
process costing is applied
➢ Terminologies in process
costing, e.g., joint-products,
by-products, scrap, waste,
etc.
outcomes teaching methods outcomes
➢ Understand the ➢ Give notes and
meaning and other reading
characteristics materials
➢ Can prepare contract ➢ Practical examples
accounts & contractor of concepts
accounts ➢ Encourage pupils to
➢ Can explain the watch videos or
meaning and listen to audios
objectives of service relating to the topic
costing
➢ Understand which
types of organizations
make use of service
costing
➢ Can ascertain cost per
unit of services
rendered
➢ Can explain situations
or circumstances in
which process costing
is applied
➢ Can explain
terminologies used in
process costing e.g.,
joint-products, by-
products, scrap, waste

SENIOR SECONDARY YEAR – SSS 3, Term 2

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
Costing techniques Pupils should be able ➢ Explanation by ➢ Textbook ➢ Assessment/ assignment
➢ Meaning and distinction to: teacher ➢ Black/white board ➢ Response from students on
between marginal and ➢ Know the meaning ➢ Class discussion ➢ Class discussion questions asked by teacher
absorption costing. and distinction ➢ Class work

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MBSSE’s Senior Secondary School Curriculum

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning

outcomes teaching methods outcomes
➢ Terminologies used in between marginal ➢ To direct the
marginal and absorption and absorption minds of the pupils
costing - fixed cost, costing to key areas as of
variable cost, semi- ➢ Understand the each lesson
variable costs, terminologies used in ➢ Give notes and
contribution, period and marginal and other reading
product costs etc. absorption costing - materials
➢ Preparation of income fixed cost, variable ➢ Practical examples
statement using both cost, semi-variable of concepts
marginal and absorption costs, contribution, ➢ Encourage pupils
costing period and product to watch videos or
costs etc. listen to audios
➢ Prepare income relating to the topic
statement using both ➢ Conducting
marginal and educational tours
absorption costing
Break-even analysis Pupils should be able ➢ Explanation by ➢ Textbook ➢ Class discussion
➢ Meaning, importance, to: teacher ➢ Black/White board ➢ Assessment/Assignment
assumptions and ➢ Know the meaning, ➢ Class discussion ➢ Class discussion ➢ Response from students
limitations of break-even importance, ➢ Class work on questions asked by
analysis assumptions and ➢ To direct the teacher
➢ Computation of break- limitations of break- minds of the pupils
even points in units and even analysis to key areas as of
values from given data ➢ Compute break-even each lesson
including segregation of points in units and ➢ Give notes and
costs (using high and low values from given other reading
method) data including materials
➢ Preparation and segregation of costs ➢ Practical examples
interpretation of break- (using high and low of concepts
even charts method) ➢ Encourage pupils
to watch videos or

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MBSSE’s Senior Secondary School Curriculum

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning

outcomes teaching methods outcomes
➢ Prepare and interpret listen to audios
break-even charts relating to the topic

SENIOR SECONDARY YEAR – SSS 3, Term 3

Topic/Theme/Unit Expected learning Recommended Suggested resources Assessment of learning
outcomes teaching methods outcomes
Budgeting and Budgetary Pupils should be able to: ➢ Explanation by ➢ Textbook ➢ Assessment/
Control ➢ Explain basic teacher ➢ Research materials on Assignment
➢ Explanation of basic terminologies in ➢ Class discussion entrepreneurship ➢ Response from
terminologies in Budgeting budgeting and ➢ Class work ➢ Black/White board questions asked in
and Budgetary control budgetary control ➢ To direct the minds class
➢ Budgeting process and ➢ Explain budgeting of the pupils to key ➢ Class/Individual
Administration process and budget areas as of each participation
➢ Importance of Budgeting administration lesson
and Budgetary control. ➢ Explain the ➢ Give notes and
Preparation of budgets will Importance of other reading
be limited to cash sales, Budgeting and materials
material usage, material Budgetary control ➢ Practical examples
purchase and production ➢ Prepare budgets but of concepts
budgets limited to cash sales, ➢ Encourage pupils to
➢ Functional budgets: sales, material usage, watch videos or
production, capital material purchase and listen to audios
expenditure etc. production budgets relating to the topic
➢ Cash budget and master ➢ Prepare functional ➢ Conducting
budget budgets: sales, educational tours
production, capital
expenditure, etc.
➢ Prepare cash budget
and master budget
Information Technology in Pupils should be able to: ➢ Explanation by ➢ Textbook ➢ Assessment/
Accounting teacher Assignment

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➢ Manual and computerized ➢ Understand manual ➢ Class discussion ➢ Research materials on ➢ Response from
accounting processing and computerized ➢ Class work entrepreneurship questions asked in
systems accounting processing ➢ Direct the minds of ➢ Black/White board class
➢ Processes involved in data systems the pupils to key ➢ Class/Individual
processing ➢ Understand the areas as of each participation
➢ Computer hardware and processes involved in lesson
software data processing ➢ Give notes and
➢ Merits and demerits of ➢ Understand the other reading
manual and computerized Computer Hardware materials
accounting processing and Software. ➢ Practical examples
systems Understand the Merits of concepts
and demerits of ➢ Encourage pupils to
manual and watch videos or
computerized listen to audios
accounting processing relating to the topic
systems

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