BOOK LIST 2020/2021   FORM THREE COMMERCIAL                                    

Dear Parents, you will find below all topics uncovered before 17/March/20 and their lesson notes in each subject. Make sure your student copy before 5th/October/2020 school resumption.

UNCOVERED TOPICS AFTER 17/03/2020

1) Mathematics :Trigonometry ,Statistics and Probability, General Revisions

2) BUSINESS MATHEMATICS -Discounting of Bills of exchange -Speed and Distance, General Revisions

LESSON NO 1

OHADA ACCOUNTING FOR FORM 3 COM

WEEK BEGINNING 23RD TO 27TH MARCH 2020

PAHO

Ohada accounting. F3C

Topic :method of Stock valuation

Stock valuation methods In cost accounting, the stock practice is different from that of general accounting. Permanent inventory is in fact used, which enables the quantities in stock to be known at any time and the inventory outflows to be valued when calculating production costs. There are two assessment methods: the weighted average unit cost (WAC/CMUP) method and the first in, first out (PEPS / FIFO) method,

I) First in first out method (FIFO)


This method required that the good that entered in the warehouse first should be exit before the good that entered After.

Example.

 we have the following information concerning Paho PLC for the month of January: the initial stock is 1250 kg at 112.50 F per unit, 02/02: entry of 500 Kg at 115 F per unit, 05/02: entry of 200 Kg at 110 F per unit, 07/02: output of 800 Kg, 09/02: output of 300 Kg, 15/02: entry of 180 Kg at 120 F per unit, 02/29: output of 400 kg,
WORK REQUIRED:
present the stock bin card using fifo method of Stock valuation.

Solution.

See appendix 1



II) Weighted Average Cost Method (WAC)

There are several variants of this method, including the periodic WAC method (which consists of evaluating the outputs to the WAC of entries for a period.
this method required that the New Cost should be calculated at any moment that there is an entry

Example :

Use the above example and présent thé stock card using wac After each entry

Solution :
See appendix 2

LESSON NO 2

BUSINESS MATHS FOR FORM 3 COM

WEEK BEGINNING 23RD TO 27TH MARCH 2020

TAH

BUSINESS MATHEMATICS

 MODULE 6: DISCOUNTING OF BILLS OF EXCHANGE.

 Lesson 1: The Notion of Bills of exchange

Class F3 COMM.

COPETENCE:  AT THE END OF THIS LESSON, STUDENTS SHOULD BE ABLE TO DEFINE AND CALCULATE THE DISCOUNT ON BILLS OF EXCHANE.

1.) Definition of terms:

(A) A Bill of Exchange

  A bill of exchange or draft is a document written by the creditor (drawer) and requesting the debtor (drawee) to pay a definite sum of money (debt due) to him or any one (payee) nominated by him at a certain future date or maturity date. A bill of exchange can also be defined as unconditional statement written by the drawer to the drawee to pay a sum of money to him or to a third party at a certain future date.

(B) Parties of a bill of exchange.

_ The Drawer: The drawer is the person who writes the bill or issues the bill.

_ The Drawee: The drawee is the person whom the bill is sent to.

_ The payee: The payee is the person whom the payment is to be made (supplier)

(C) Face Value: This is the nominal value of the bill to be paid at the due date.

(D)The discount:This is the interest calculated on the face value of the bill from the date of negotiation to the date of maturity.

 (E) The present value:The present value is the net amount received by the beneficiary of the bill after deducting the interest or discount.

 (F) Negotiation date:This is the date in which the bill was drown.

 (G) Maturity Date: This is the date in which the bill is matured to be paid.

 1.1)  CALCULATING THE DISCOUNT.

            Let us consider the following signs and symbols

            NV =Nominal value

             T = duration

     R= Discount rate

              D= discount.

              Therefore, discount = NVX RXT    (when durations is in days)

                                                       36000

When the duration is in years we divide by 100, and when duration is in months we divide by 1200 as seen in chapter 4 when we were studying simple interest.

EXAMPLE 1

On the 01/09/2017 KAKABI drew a bill to her customer PAMELA for 120000frs maturity date was on the 30/09/17. Calculate the discount knowing that the discount rate was 20%

               SOLUTION

               NV= 1200000frs

              T= 01/ 09/2017 to 30/09/2017= 30days

               R= 20%

               d = NVXRXT

                       36000

                 d = 1200000X20X30     =  20000frs

                                    36000

EXAMPLE 2

Mr Tang Tambe owes Mr kum 1800000frs. Mr kum draws a bill running for 6 months at the rate of 10% discount. Given that Mr kum when to the bank before the maturity date. What will be the discount on his bill?

                              SOLUTION

                        NV =1800000frs

                        T     = 6 months

                        R = 10%

                       d =  NVXTXR

                                1200

                        d = 1800000x6x10  =  90000frs

                                  1200

EXERCISE 1

Calculate the discount on the following bills of exchange at the rate of 4.5%

a) 1800000frs running for 108days

b) 2500000frs running from 05/02/2020 to 15/08/2020

c) 1600000frs for 12 months

LESSON NO 3

NOTES FOR THE WEEK:  23RD OF MARCH TO THE 27TH OF MARCH 2020

CLASS: F3 A, B & C

SUBJECT: COMMERCE

MODULE 4: INSURANCE

LESSON No.01: Introduction & definition of terms

Competences:

At the end of the lesson, Students should be able to:-

* Give the meaning of Insurance

* Illustrate how insurance is important to individual and businesses

* Describe how an insurance contract is undertaken

CONTENT

1.1 Introduction

1.2. Definition of Insurance

1.3.  Importance of Insurance

1.4. Insurance contract

1.1. INTRODUCTION

                   The business of today and life in general is surrounded with a lot of risks. This means that no individual will like to accept great losts in every activity undertaken. There are no certainties or guarantees in life. There is no guarantee that the business will not suffer an unexpected loss or damages. So while we cannot protect our interests against all risks, it's therefore important to undertake an insurance policy..

1.2. DEFINITION OF INSURANCE.

                      This is the process whereby one party called the insurer or insurance company accepts to indemnify (compensate) another party called the insured when he/she suffers a risk after the insured has paid a fixed sum of money known as premium at regular intervals..

                    Insurance is equally defined as the spreading and pooling of risks. That is the spreading of risks over a number of persons so that no individual bears great lost.

1.3. IMPORTANCE OF INSURANCE

a.) Provides Reliability

The main function of insurance is that eliminates the uncertainty of an unexpected and sudden financial loss. That is it reduces the fear in business men to undertake different business opportunities. This is one of the biggest worries of a business. Instead of this uncertainty, it provides the certainty of regular payment i.e. the premium to be paid.

b.) Protection

                  Insurance does not reduce the risk of loss or damage that a company may suffer. But it provides a protection against such loss that a company may suffer. So at least the organisation does not suffer financial losses that debilitate their daily functioning.

c.) Employment Opportunities.

             Members of the public are often employed to work in Insurance companies as accessors, underwriters, etc thereby leading to an increase in living standard.

d.) Capital Formation

The pooled premiums of the policy holders help create a capital for the insurance company. This capital can then be invested in productive purposes that generate income for the company.

e.) Life insurance encourages savings:

Insurance does not only protect against risks and uncertainties, but also provides an investment channel too. Life insurance enables systematic savings due to payment of regular premium.

f.) Pooling of Risk

                     In  insurance, all the policy holders pool their risks together. They all pay their premiums and if one of them suffers financial losses, then the payout comes from this fund. So the risk is shared between all of them.

1.4. INSURANCE CONTRACT OR POLICY

                    An insurance contract is a document representing the agreement between an insurance company and the insured. That is, its an agreement that binds the insurer and the insured and it's enforceable by law. The insurance contract is designed to provide the following information :

1. The name and signatures of both parties.
2. The subject matter
3. The type of insurance policy
4. The duration of the contract
5. The premium paid. etc..

LESSONS NO 4

WEEK BEGINNING 23RD TO 27TH MARCH 2020

LESSON NO 5

WEEK BEGINNING 23RD TO 27TH MARCH 2020

*Subject; *ICT*
*Class; Form 3*
*Topic* : *video* *conferences*
*Lesson: Equipment* *used in video* *conferences.*
*Objectives ; At the end* of this lesson students should be able to known how communicate on line when using video communication.
*Lesson proper:*
A) *Video conferencing:* conferencing:
*Definition :* video conferencing: it is a technology that allowed two or more people to conduct more thing online at different locations.
*Equipment used in* *video conferencing* *are* :
1)monitor
2) loud speaker
3) web camera
4) video camera
5) Microphone
6) Head set.
Advantages of video conferencing:
1) It facilities communication
2) It enables two or more people to conduct meeting at different locations successfully.
3) It is used to share ideal between people and place .
*Disadvantage of* *video conferencing.*
1) It can be used for fraud
2) It can be used for cycle bullying
3) It can be used to share false information
4) It can be used for scanning

LESSON NO 6

WEEK BEGINNING 23RD TO 27TH MARCH 2020