Lesson Note on Agricultural Science JSS3 Second Term
Second Term Scheme of Work for JSS3 Agricultural Science
WEEK 1 FACTORS OF PRODUCTION
WEEK 2 RECORDS AND BOOKKEEPING
WEEK 3 BOOKKEEPING
WEEK 4&5 FARM RECORDS AND ACCOUNT
WEEK 6&7 AGRICULTURE IN STOCK EXCHANGE
WEEK 8&9 AGRICULTURE IN STOCK EXCHANGE (II)
JSS3 Second Term Agricultural Science Lesson Note
Below are the 2022 Complete JSS3 Second Term Agricultural Science Lesson Note
Week 1
Topic: Factors of Production
A. Meaning of Production
Production can be defined as the transformation of raw materials into finished goods. It is concerned with all legal activities which are directed towards the satisfaction of human wants.
Human wants are many, but they can be divided into material wants and non-material wants. The material wants are referred to as goods while the non-material wants are called services.
Production involves the conversion of raw materials and semi-finished goods into tangible goods that can satisfy the needs of the people. Examples of tangible goods are yam, rice, clothes, cars, radio etc. To learn more, Click here
Week 2
Agricultural Science JSS3 Second Term
Topic: Farm Records
Content
- Farm Records
- Importance of Farm Records
Farm Records
Farm records are written documents showing major activities going on in the farming business. This is to enable a farmer to manage his farm well and also have records for future use.
Importance of Farm Accounts and Records
- Changes in Prices of Produce – It enables the farmer to monitor changes in the prices of farm produce
- Determination of annual tax – Farm records make it possible to determine the accurate tax to be paid
- Data for planning and budgeting – Farm records help to provide data for planning
- Management Decisions – Records help you to make the right decisions as regards the farm business. To learn more, Click here
Week 3
Agricultural Science JSS3 Second Term
Topic: Book Keeping
Meaning of Book-keeping
It can be defined as the system of recording transactions in business on a daily basis in an appropriate book, it is an integral part of the account. It can also be defined as the process of recording, selecting, classifying, interpreting and communicating financial data of an organization to enable users to make decisions. Accounting involves measurement and reporting of an organization’s profit and loss.
Importance of Accounting and Book-keeping
- The record shows income and expenditure
- The record provides a means by which the finance of business are controlled
- It helps to prevent fraudulent practices
- It helps to determine the profitability of the business concern
- They are used for tax assessment. To learn more, Click here
Week 4 & 5
Agricultural Science JSS3 Second Term
Topic: Farm Records and Account
Content
- Types and Uses of Farm Records
- Record and Its Benefits
- Farm Accounts
- Types and Importance of Farm Accounts
Types of Farm Records
- Cash book receipts and payment records
Cash book – Book of financial transactions (income and expenses)
Receipts and payments – There are two types ( cheque and cash) and they are recorded in the cash book
Receipts are recorded on the left side while payments are recorded on the right side
Cash book content – Date column, source of income received or expenditure made. To learn more, Click here
Week: 6 & 7
Topic: Agriculture in Stock Exchange
What is a Stock?
A stock is a type of security that signifies ownership in a corporation and represents a claim on part of the corporation’s assets and earnings. “A stock is a share in the ownership of a company. There are two main types of stock: common and preferred. Common stock usually entitles the owner to vote at shareholders’ meetings and to receive dividends.
Stock Exchange
Stock exchange is a corporation or mutual organization which provides trading facilities for stock brokers and traders to trade on stock and other securities. It is a market where shares and stock and other securities are bought. The securities traded on stock include shares issued by the companies, units of trust, derivatives, pooled departments and bonds. To learn more, Click here
Week: 8 & 9
Topic: Agriculture in Stock Exchange
Stock Exchange
Stock exchange is a corporation or mutual organization which provides trading facilities for stock brokers and traders to trade on stock and other securities. It is a market where shares and stock and other securities are bought. The securities traded on stock include shares issued by the companies, units trust, derivatives, pooled departments and bonds. Stock exchange is an organized market where Government securities, shares, bonds and debentures of the trading units are regularly transacted. Stock exchange provides a place to the buyers and sellers of the shares and securities. Stock exchange indicates about the good or bad health of economy. If the share prices are rising it means country is running on the path of development and prosperity. To learn more, Click here
