Welcome great EduPodian, here is your Third Term SS2 Commerce Lesson Note excerpt.
Scheme of Work
1-2 Capital – meaning, types and structure
3-4 Profit – meaning, types and structure
5-6 Business Finance – the financial position of business firms.
7-8 The Stock Exchange
9-10 Communication
Week 1:
TOPIC: CAPITAL
CAPITAL
Capital in business refers to all the assets and property of a firm.
TYPES OF CAPITAL
a. FIXED CAPITAL: This refers to the assets of a firm which the business is carried on, and which are used continuously in the process of earning income e.g. Buildings, machinery fixtures and fittings
b. CIRCULATING OR FLOATING CAPITAL: This is the capital which is required regularly for… Click here to order the complete Commerce Lesson Note for SS2 third term
Week 2:
IMPORTANCE OF WORKING CAPITAL
1. Working capital helps to determine the liquidity position of an organization.
2. It determines the fund available for the day to day running of the business.
3. Since it is… Click here to order the complete third term Commerce Lesson Note for SS2
Week 3:
TOPIC: PROFIT
CONTENT
1. Types of profit
2. Items in the Trading, profit and Loss Account.
3. Factors Affecting Profit.
4. Turnover/Rate of Turnover.
PROFIT
The profit of a business firm could be either Gross Profit or Net Profit.
GROSS PROFIT: This is the total sales less
Cross Price: It is the same as mark-up which is the amount a seller adds to his cost or buying price to determine his selling price.
i.e. Gross Profit = Sales – Cost of Sales
It should be noted that the gross profit of a firm is not the true profit since other expenses are incurred in running the business. The gross profit, by itself, cannot, therefore, tell whether or not a business firm is making a headway. The most important thing to look at is the NET PROFIT.
NET PROFIT: This refers to the gross profit less the expenses of running the business. This is the
amount left for the owner or owners of the business as a reward for the risk taken. The success of the business is measured in terms of the Net Profit.
Expenses incurred in running a business include… Click here to order the complete Lesson Note on Commerce SS2 third term
Week 4:
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Week 5:
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Week 6:
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Week 7:
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Week 8:
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Week 9:
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Week 10:
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