Agricultural Science Lesson note for JSS3 (Basic 9) Second Term
Elesson Note on Agricultural Science JSS3 Second Term
SECOND TERM SCHEME OF WORK FOR JSS3
AGRICULTURAL SCIENCE
| WEEKS | TOPIC |
| 1 | Revision |
| 2 | Records and Book keeping : Farms records and importance |
| 3 | Records and Book keeping II |
| 4 | Records and Book keeping : types and uses of farm records |
| 5 | Records and Book keeping : types and uses of farm records II |
| 6 | Stock Exchange : meaning |
| 7 | Stock Exchange : People involved in stock exchange |
| 8 | Stock Exchange : encourages investments |
| 9. | Stock Exchange : importance |
| 10 | Revision |
| 11 | Examination |
| 12 | Examination |
WEEK 1
Revision
WEEK 2
TOPIC: Farm Records E lesson Note
Content
Farm records are written account of work expenses and income in farming enterprises.
Importance of Farm records
- Farm records enable the farmer to make proper return to the boards of internal revenue for correct tax assessment
- It provides the farmers with the clear idea of how much money is coming in and how much it is wise to spend
- It enables the farmers to know whether he is making profit or loss
- It helps the farmer to obtain loans and subsides from government
- It helps the farmers to make budgets and plan his business
- It enables the farmers to make good management and decision
WEEK 3
TOPIC: BOOK KEEPING E LESSON NOTE
Book keeping is the recording, on a day-to-day basis, of the financial transactions and information pertaining to a business. It ensures that records of the individual financial transactions are correct, up-to-date and comprehensive. Accuracy is therefore vital to the process.
Book keeping provides the information from which accounts are prepared. It is a distinct process that occurs within the broader scope of accounting.
Each transaction, whether it is a question of purchase or sale, must be recorded. There are usually set structures in place for bookkeeping that are called ‘quality controls’, which help ensure timely and accurate records.
Recording transactions
In principle, transactions must be recorded daily into the books or the accounting system.
For each transaction, there must be a document that describes the business transaction. This could include a sales invoice, sales receipt, a supplier invoice, a supplier payment, bank payments and journals.
These accompanying documents provide the audit trail for each transaction and are an important part of maintaining accurate records in the event of an audit.
WEEK 4 and 5
Types of Farm records e lesson note
There are many records that needs to be kept in a farm, some of which are
Farm diary: This is a record of day to day records of everything that happens in a farm.
Farm inventory: A record of all asset owned by the farmers and the cash values of the item e.g. land, equipment, crops in the farm and in storage.
Input records: This is a record of all the items in running the farm during the years; it’s used in calculating the farm profit
Production Records: A record of all items produced in the farm, it enables the farmers to know which projects are more profitable.
Labour Diary: This is a records of day to day work done on the farm, it’s uses to determine the work done, amount of labour expended and the cost at the end of each operation
Sales records: A records of all products sold by the farmer e.g. eggs, yam, goat etc
Consumption records: A record of all farm product consumed by the farmer and his family
WEEK 6
Topic
AGRICULTURE IN STOCK EXCHANGE E LESSON NOTE
A stock exchange is an organized market where the stock broker s and traders can buy and sell stocks (also called shares), bond and other securities. It is also called capital market, stock market or share market. Buyers and sellers come together to trade during specific hours on business days. Hence a stock exchange is a medium for buyers and sellers to interact with one another.
Definition of stock exchange
Stock exchange is an association or organization of individuals established for the purpose of assisting, assisting, regulating and controlling buying, selling and dealing in securities.
Features of stock exchange
- Organized market
- Central government recognition
- Specific location
- Transaction carried out only through members
- Deals with listed securities
- Regulates trade in security
- Association of persons
Aims and Objectives of stock exchange
- Raising capital
- To facilitate trading of securities
- To regulate and supervise stock exchange or trading
- To provide facilities for trading in security
WEEK 7
PEOPLE INVOLVED IN STOCK EXCHANGE ELESSON NOTE
People involved in stock exchange are called stock traders, equity traders or share traders. They include stock brokers, investors, hedgers, speculators, dealers and arbitrageurs.
- Investor
- Dealers
- Stock brokers
- Arbitrageurs
- Speculators
- Hedgers
WEEK 8
TYPES OF STOCK EXCHANGE
The stock exchange (capital market) is divided into two types
These are Primary market and secondary market.
- Primary Market: this is also called new issue market (NIM) . it is a capital market where newly issued securities are offered to the public. In a primary market , transaction (buying and seliing of securities) takes place directly between the issuer and buyers or investors for the first time.
The primary market usually raises capital through the following means.
- Public issue
- Right issue
- Private placement
- Preferential allotment
Features of Primary market
- It is market for new , long term capital
- Securities are issued by the company directly to investors.
- The company issue certificates to investors (buyers).
- It is usually used for selling up new business or expanding existing ones
- Secondary market
This is a market where investors trade (buy and sell) securities they already own without the involvement of the company that issued the securities in the primary market. It is also called “after market” because it is where the securities issued at the primary market are bought and sold.
There are basically two types of secondary market. These are auction market band dealer market.
- Auction market
- Dealer market
Features of Secondary market
- It creates liquidity (means of converting security to cash)
- It is security market for previously issued securities
- It comes up after primary market
- Securities are not issued directly by company to investors in a secondary market.
WEEK 9
IMPORTANCE OF STOCK EXCHANGE IN AGRICULTURE
Agricultural stock exchange is a mutual organization which is engaged in agricultural commodities such as agricultural products and machines. It is very important for a number of reasons. Some of these include the following
- Capital formation
- Savings culture
- Security market
- Investment opportunity
- Control of agric business
- Better performance
