lesson plan on introduction to business studies jss1

Lesson Note on Business Studies JSS 1 First Term

Business studies jss1, business studies lesson notes for jss1 first term – edudelight.com, scheme of work business studies jss1 first term.

WEEK          TOPIC

1                     Introduction to Business Studies

2                     The Office

3                     Office Staff

4-5                 Right Attitude to Work

6                     Different Departments in an Organization

                       Occupation

7                     Introduction to Commerce

8                     Division of Commerce

9                     Production

10-11             Revision

Edudelight lesson note

INTRODUCTION TO BUSINESS STUDIES

MEANING OF BUSINESS STUDIES

Some decades ago, the means by which people earned their living was through trade by barter system.

Trade by barter is a means of exchanging good s for goods and services for services. In this system, someone who needs one thing or the other has to look for someone who has what he wants and also needs what he has. But on the invention of money, people in the society started thinking of what to do in order to earn a living. This was the beginning of business in large volume because money started serving as a means of exchange.

Business can be defined as a legal means (i.e good means) of earning a living by people in a society. People in the society earn their living on daily or monthly basis by engaging in one trade or the other. Therefore we can define business studies as the study of the means through which people in a society earn their living by engaging in commercial activities or occupational services.

Some people in the society today engage in trading that is, they buy goods from one place and another and sell the goods at a price higher than the purchase price in order to make profit. The profit made by the trader is his/her daily or monthly earning which he or she will use to satisfy his/her needs.

SCOPE OF BUSINESS STUDIES/ COMPONENT OF BUSINESS STUDIES

Business studies as a subject covers many areas of human endeavor. The study of business studies enables many people in our society today to know much on the following subjects and how these subjects can be applied in their practical lives. The subject covered by the studies of business are mainly:

Business Administration or business management

1. Economics                                                   5. Shorthand

2. Bookkeeping/ accounting                           6. Typewriting

3. Banking and finance                                   7. Computer

4. Office practice                                            8. Marketing   

9. Insurance

CAREER OPPORTUNITIES IN BUSINESS STUDIES

It is possible with hard work and focus, to choose a career in any of the areas we discussed in the above paragraph. A student can study business administration or economics or accountancy or become a banker. It is also possible for a student to study marketing, insurance or transportation. The choice of career all depends on the interest of the student.

IMPORTANCE OF BUSINESS STUDIES

Since man has advanced beyond a stage of trying to produce everything required by his family, no individual or country can survive without engaging in one form of business or another. The study of business therefore enables the students to understand various business activities that exist and the profit they make. Finally, business studies enables students to develop keen interest in various forms of business which they can take up after leaving school.

• Write a short note on the scope of business studies
• What is a business study?

GENERAL EVALUATION / REVISION QUESTIONS

• Mention five occupations you know.
• What is business?
• Mention four subjects covered by business studies.
• When can a business person be said to have made a profit?
• Why is business important?

READING ASSIGNMENT

Business studies for JSS Revised Edition Book 1 (WABP) by Ehiametalor, Osu-Nwyfoetc Pages 1-3

WEEKEND ASSIGNMENT

• The legal means by which people earn their living is called A. business  B. services   C. Goods     D. Trade
• The exchange of goods for goods and services for services is called    a. trade by barter    b. trade by exchange    c. trade by engage     d. trade by moving
• The activities or services engaged in by people in the society in order to earn a living are called   a. commercial occupation    b. commercial services    c. commercial and art    d. art and service
• The means through which people in a society earn their living by engaging in commercial activities or occupation is called     a. social studies     b. school studies    c. business studies    d. financial studies
• The subject covered by business studies are the following except    a. shorthand   b. commerce    c. book-keeping    d. biology
• what is trade by barter?
• mention five subjects covered by business studies

TOPIC: THE OFFICE – LESSON NOTE

• Types 

TYPES OF OFFICE

Basically there are two types of office and they are:

• Big or large office
• Small office

BIG OR LARGE OFFICE: this is a large building partitioned into small offices.

SMALL OFFICE: This could just be a single room with a table, telephone and in some cases, fax machine and a computer.

An office is usually at the centre of every organization, it serves as the life wire of the organization

1. List and explain the types of office you know

2. Write a short note on an office

FUNCTION OF AN OFFICE

The functions of an office may be different from one office to another, but most functions performed by an office are as follows;

• RECEIVING INFORMATION : An office receives information from within and outside the organization by means of
• Correspondence e.g letter, faxes, E-mail, e.t.c.
• Telephones calls
• Personal contacts
• RECORDING INFORMATION : A piece of information received by an office by means mentioned above is recorded and filed away for use when the needs arises.
• ARRANGING INFORMATION : Information recorded is distributed to various sections and departments that need it.

1. a  Define an office

b. Explain in one paragraph each:

         i. Big office   ii. Small office

Business studies  for J.SS 2 Revised Edition by O.A Lawale.t.c

• A place where clerical work is done is called a/an      a. office    b. department    

c. firm      d. organization

• A single room with a table, telephone, fax machine, computer is called    a. big office    b. small office     c. large office     d. complex office
• A building that is partitioned into small office is called    a. small office    b. large office      c. partitioned office     d. building
• The means through which information is received in an office are as follows except    a. letter    b. fax    c. e-mail    d. running
• The following except _______ are the function of an office    a. receiving information    b. arranging information    c. recording information    d. scattering information

THEORY QUESTION

• Mention seven (7) functions of an office
• Explain two functions of the above

REVISION / EVALUATION QUESTIONS

• What is an office?
• Describe clerical works with three examples
• Mention the types of office that you know
• State three  means of receiving  information in an office
• Give an example each for the types of an office that you know.

TOPIC: DIFFERENT DEPARTMENTS IN AN ORGANIZATION – LESSON NOTE

Introduction.

The size of an organization depends on various departments in an organization. In a one man business the owner can act as an accountant, receptionist, clerk, manager, personnel manager, e.t.c in this type of organization the departments are few. But in a large organization where division of labour is practiced people with different fields of learning work in their special areas in an organization, we have what is called division of labour and specialization.

TYPES OF DEPARTMENT

In a large organisation there are various departments. Such department includes:-

• Administrative department
• Personnel department
• Accounts department
• Sales department
• Purchasing department
• Production department
• Their functions are as follows:-

ADMINISTRATIVE DEPARTMENT

• Formulation of policies
• Arranging reception room for visitors to the organization
• Maintaining efficient filly system
• Documenting incoming and outgoing letters
• PERSONNEL  DEPARTMENT
• Employing new staff
• Arranging staff training
• Looking after staff welfare
• Keeping staff record
• Carrying out staff dismissal
• What are the functions of the administrative department?
• Write a short note on personnel department.
• ACCOUNTS DEPARTMENT
• Preparing and paying staff wages and salary
• Keeping records of assets and liabilities
• Paying those who the organization is owing
• Collecting money from outsiders who owe the organization
• Making sure that invoices are sent to those who purchased goods from  the organization
• Offering financial advice to the organization
• SALES DEPARTMENT
• Selling and marketing the organization’s products.
• Advertising the organization’s products
• Offering after-sales services
• Following consumers change in taste
• PURCHASING DEPARTMENT
• Buying new materials and equipment at reasonable prices
• Monitoring the available goods in the market
• Checking invoices submitted by suppliers to ensure they agree with goods supplied.
• Mention four functions of sales department
• What is Personnel department?

Business studies for J.S.S1 by O. A Lawal page for 34

• The department that is responsible for staff welfare is……..a. personnel b. account
• The department that is responsible for advertising the organization’s products is ………………(a) purchasing (b)administrative (c)sales
• The department which is in charge of staff dismissal is………………  (a) personnel

(b) production (c) purchasing

• The department which is responsible for keeping records of organization assets and liabilities is (a) accounts (b) sales (c) purchases
• Department that formulates the organization polices is a. Productions b. Marketing

c. Administrative

• Mention four different departments in an organization
• Mention three functions of the personnel department

REVISION/EVALUATION QUESTIONS

• Give another name for a large organization.
• Give two examples of a large organization that exist in Nigeria
• List four different departments that can be found in such organization.
• Mention three functions of personnel department
• Why do you have different departments in most large organizations?

TOPIC: INTRODUCTION TO OFFICE EQUIPMENT – LESSON NOTE

• Various types of office equipment

Office equipment are tools and assets used by a firm or an organization. The organisations use them for the following:-

• To receive information
• To disseminate information
• For saving valuable items, etc.

VARIOUS TYPES OF OFFICE EQUIPMENT

The various types of office equipment in use in an office are :-

• OFFICE CABINET: This is a place when documents, surplus cash, and valuable items are kept

ADVANTAGES OF OFFICE CABINET

• It prevents document, cash and valuable items from being stolen
• It prevents the above items from fire explosion
• TYPE WRITTER: This is a machine which prints letters on paper by means of keys
• It makes the secretary work faster
• It presents the typed work neatly
• It is faster than using pen to write
• TELEPHONE: This is a machine through which information relating to an organization in question is received and given. Telephone could be digital or analogue
• It helps to give out information
• It helps to receive information
• What is a telephone?
• COMPUTER: this is an electronic machine or device which accepts data in the form of input, processes it, and gives out information in the form of output. Kinds of computer are-:
• personal or micro computer
• mini computer
• it gives accurate information
• Information is easily accessed through the use of computer
• CALCULATOR: this is also called adding machine. This is an electronic, machine which performs arithmetic work of division, multiplication , and subtraction, etc.
• it performs arithmetic work at faster rate
• it gives accurate information based on input
• FAX MACHINE: This type of machine is used by large organization, and it is used to send and receive short information for the organization
• what is office equipment?
• it is faster than computer

other equipment are telex, telegram photocopy machine, etc.

• state seven office equipment you know

Business Studies for Junior Secondary School Book Revised Edition Book two page 3-7

• The place where cash and valuable document are kept is called——a. office file

b. office shelve c. office cabinet

• A machine which accepts data, processes it and gives information is called

a. photocopy   b. calculator    c. computer

• A machine which prints letter on paper by means of keys isa. typewriter  b. computer  c. fax machine
• A machine used for sending and receiving short information is called   a. fax machine     b. text machine     c. photocopy machine
• These are the office equipment except   a. telephone     b. typewriter   c. file
• Define the following   a. computer   b. typewriter
• Mention five office equipment you know
• Define office equipment
• List seven office equipment that you know
• Give one functions of each of the office equipment you listed above.
• State the advantages of using the typewriter.
• Give the reason for the use of office equipment in the office.

TOPIC: CLERICAL STAFF

• Examples of clerical staff
• Job qualities of a clerical staff

DEFINITIONS

A clerical staff is someone who keeps record of account or sales in an office .Generally , a clerical staff is assigned to do written work.

Examples of a clerical staff are

• Sales clerk, etc

QUALITIES OF A CLERICAL STAFF

• Must possess a sound minimum education of West African Senior School Certificate or its equivalent
• Must have the ability to speak official language fluently
• Must be endowed with good health
• Must be willing to improve on his education
• Must have the ability to respond to enquiries with alertness of mind, precision and interest.
• Must have an ambition to take to a profession.
• Must like clerical duties such as recording and filling.
• Must be cheerful and courteous when attending to callers
• Must possess the ability to take correct decisions without being directed.
• Must be neat and smartly dressed always.
• Who is clerical staff?
• Give two example of clerical staff

Business Studies for Junior Secondary School Book One revised edition by O.A Lawal, J.E Yaro, F.O.C. Ezeah Page 3 – 4

• Someone who is employed to keep record of account in an office is called (a) clerical staff (b) account officer (c) sales officer
• The minimum qualification for the post of a clerk in an office is called (a) SSCE (b) OND (c) ATS
• A good clerical staff must possess the following quality except (a) must be neat (b) must be willing to improve on his education (c) must be arrogant
• The basic functions of an office are the following except (a) receiving information (b) giving information (c) scattering information
• Trade by barter means (a) exchanging goods for goods and services (b) buying goods and services (c) selling goods and services
• What is meant by clerical staff?
• Mention five qualities of a good clerical staff

REVISION EVALUATION QUESTION

• What is trade by barter?
• State two advantages of money over trade by barter
• Mention four subjects covered by business studies
• State one benefit of studying business studies

TOPIC: OCCUPATION

• Meaning of Occupation
• Classification of Occupation

Occupation refers to various activities that are legal, ( that is not against the law ) which people engage in,  in order to earn their daily living. It can also be defined as the activities in which people engage themselves in, in order to earn a living.

CLASSIFICATION OF OCCUPATION

Occupations are divided or classified into the following groups:-

• Extractive occupation: this occupation involves people whose activities are directed to the process of bringing natural resources from the sea and soil. Examples of those in this occupation are farmers, fishermen, hunters, etc. they produce raw materials.
• Manufacturing occupation: those involved in this are engaged in changing the form of the raw materials extracted by workers in extractive occupation. Examples of workers in this occupation are cloth weavers, motor manufacturers, etc.
• Constructive Occupation: workers involved in this occupation engage in assembling different components extracted and manufactured by both the extractive and manufacturing occupation workers. Examples are road construction, bridge construction
• Write a short note on extractive and manufacturing occupation
• Give 4 examples of constructive occupation
• Commercial Occupation: this involves the activities of those who work in different groups  as a team in order to make production of goods and services possible. They also work to make goods and services available to those who need them. Examples of commercial occupation are banking, transportation, warehousing etc.
• Direct Services Occupation: these include those whose daily activities involve giving satisfaction, amusement, enjoyment and rendering of personal services to others. Examples of those in this occupation are actors, dancers, doctors, barbers, etc.
• Indirect Services Occupation: these involve those who earn their living by rendering one type of service or another to members of the public. Examples are police, soldier, etc.

EVALUATION QUESTION

• What is an occupation?
• List five types of occupation.

Business Studies for J.s.s 1 by O.A. Lawal etc. page 7 – 8

• Examples of commercial occupation are except (a) banking (b) insurance

(c) warehousing (d) farming

• Which of the following statements is not true of extractive occupation?  [a] It involves production of raw materials     [b] It is also called primary production     [c]Examples are farming, hunting, fishing      [d] A banker is in an extractive occupation
• The following are branches of occupation except [a]mining [b]hunting [c]dancing [d]banking
• A singer is in [a] extractive occupation [b] manufacturing occupation [c] constructive occupation [d]direct service occupation
• Which of the following is not in the group (a)transportation (b)banking

(c)warehousing (d)fishing

• List 6 classes of occupation
• Explain one of the following branches of occupation listed in question one 

REVISION / EVALUATION QUESTION

• Who is a clerical staff?
• Give two examples of the clerical staff.
• Mention the duty of clerical staff.
• Where does a clerical staff work?
• Mention five qualities of clerical staff

TOPIC: TRADE

• Meaning of Trade
• Foreign Trade
• Entre-pot Trade

Meaning of Trade: trade is the buying and selling of goods and services. It can also be defined as the activities which cover exchange, buying and selling of goods and services

Branches of Trade

Trade has three main branches which are as follows

• Home Trade: this is the act of exchanging, buying and selling of goods and services within a country. For an example: Mr. Ade in Lagos buys goods from Mr. Aminu in Kano . This is home trade because both the buyer {Mr. Ade} and the seller {Mr. Aminu} are Nigerians and they reside in Nigeria. In home trade only one currency e.g (naira in Nigeria) is in use. Home  trade is divided in two wholesale and retail trade
• Wholesale Trade: involves buying in large quantities from the manufacturers and selling to the retailers. Those involved in wholesale trade are called wholesalers
• Retail Trade: this involves buying in small quantities  from the wholesaler and selling in units to the final consumer. Those involved in retail trade are called retailers
• List the functions of wholesalers and retailers in the chain of distribution.
• What is home trade?

B.        FOREIGN TRADE: this is the exchange, buying and selling of goods and services between two countries. For example between Nigeria and Ghana. Foreign trade is also a trade between a citizen of one country and the citizen of another country. For example between Ade in Lagos, Nigeria and Kofi in Accra, Ghana. Buying in foreign trade requires the use of foreign currency.

C.        ENTER-POT TRADE: this is buying from one foreign country to sell to another foreign country. Eg. Mr. Ade in Nigeria buys from Kofi in Ghana in order to sell to Mr. Johnson in London.

• List and explain the three main branches of trade

Business Studies for J.S.S 1 by O.A Lawal and other pages 14-15

• Foreign trade requires the use of    a. bids    c. cowry shells    c. foreign currency    d. naira and kobo
• The main branches of trade are the following except    a. home trade    b. enter-pot trade   c. foreign trade    d. general trade
• Wholesale trade is a branch of    a. home trade    b. foreign trade    c. none of the above    
• A trade between Obi in Nigeria and Ojo in Nigeria is known as    a. foreign trade   b. home trade    c. friendly trade    d. Nigeria trade
• A trade between Nigeria and Togo is known as    a. neighbor trade    b. home trade    c. Africans trade    d. foreign trade
• List the three main branches of trade
• What is retail trade?

REVISION /EVALUATION QUESTIONS

• Define occupation
• Give another name for occupation
• What is your father’s occupation?
• Why does your father engaged in an occupation?
• Among the classes of occupation, where does your father’s occupation fall?

TOPIC: AID TO TRADE

• Meaning of Aids to Trade
• Listing of Aids to Trade
• Functions of Aids to Trade

MEANING OF AIDS TO TRADE

By the expression “Aids to Trade” we mean those things or agents that make trade to grow . The aids to trade make trade easy and for this reason they are called aids to trade or factors of trade or auxiliary to trade.

THE AIDS TO TRADE

These aids to trade are:

•  Banking
• Transportation
• Warehousing
• Advertising
• Communication and

FUNCTION OF AIDS TO TRADE

The functions of above aids to trade are as follows:

• Insurance: insurance covers risks. It is an aid to trade because it encourages business men to take risky business ventures.
• Banking: the two main functions of a bank is to save money and lend money. This money accepted and saved for costumers are lent to businesses as capital. In this way the bank is an aid to trade .
• Transportation: transport helps trade by moving goods from one place to another. For example it moves goods from where they are surplus to where they are scares.
• What is the importance of transportation in business?
• How can insurance serve as an aid to trade?
• Warehousing: this is concerned with storing goods in safe condition until they are demanded. Therefore, warehousing prevents scarcity of goods.
• Advertising: this is the activity that is concerned with informing members of the society that a particular good or service exists, its quality and function. Advertising is an aid to trade because it creates an awareness and demand for goods and services.
• Communication: this is a form of interaction (i.e. discussion), letter, telephone etc between buyers and sellers with the intention to sell or buy. An example is a letter of  enquiry about the goods available in the warehouse
• Tourism: this covers all the activities which make someone on tour to be comfortable examples of activities under tourism are good hotel accommodation, tourists centers etc. tourism assists trade because tourists from foreign countries bring foreign currency into the economy

EVALUATION 

• What do you understand by “aids to trade”?
• List the aids to trade you know

Business Studies for J.S.S1 by O.A. Lawal and other pages 15-16

• The following are aid to trade except (a) advertising (b) insurance (c) banking

(d) manufacturing

• Aids to trade can also be called (a) auxiliary to trade (b) friends of trade (c) foreign trade (d) home trade
• Banking is an aid to trade because (a) it keeps a lot of money (b) bank managers are in commercial occupation (c) many banks works on Saturday (d) it can save and lend money to various traders
• Warehouse is useful to trade because (a) it is a means of keeping goods until they are demanded (b) it causes scarcity of goods (c) it can lead to inflation (d) it moves goods from one place to another
• Insurance is useful to trade because (a) it links buyers and sellers together (b) it moves goods from point of production to where they are demanded (c) it prevents scarcity (d) it encourages businessmen to undertake risky business
• List the seven aids to trade.
• Explain two of the aids listed in question one above
• What is trade?
• Who is a trader?
• Draw the division of trade
• Mention traders who are involved in home trade

TOPIC: DIRECT AND INDIRECT SERVICES.

• Direct Services- Meaning and Examples
• Indirect Services-Meaning and Examples

DIRECT SERVICES

Direct services are simply those services that are rendered to directly on person- to-person basis and the payment for them is made by us directly to the service providers. Examples of direct service occupations are barbing, services of a private doctor, a private teacher, a personal lawyer, a steward etc

INDIRECT SERVICES

Indirect services are the services enjoyed by us, but the payment for which is not made directly by us. The services that fall under this heading include:-

• The doctor in government hospitals.
• The policemen
• The soldiers
• The teacher in government colleges

From the above explanation, we can now see that payment for indirect services is made on our behalf by the government

• Classify the services rendered by the street cleaner, the security guard in government schools and government hospital
• What are indirect services?

DIRECT SERVICE OCCUPATION

These include those whose daily activities involve giving satisfaction, amusement, enjoyment and rendering of personal service to others. Example of those in this occupation are actor, dancer, doctor, etc

INDIRECT SERVICE OCCUPATION

These involve those who earn their living by rendering one type of service or another to members of the public. Example are police, soldier, etc. 

Read essential commerce page 15

• The soldier renders _______ services.

      a)direct     b)indirect     c)general     d)special

• A street cleaner renders ________ services

     a)direct    b)indirect      c)special     d)all of the above

• A barber renders ________ services

a)indirect b)special c)general d) direct

• A personal doctor renders ________ services

a)personal b) direct c) indirect d) important

• A business studies teacher in government school renders _________ services.

a) direct b) good c) indirect d) special

• Explain with example the term “indirect service”
• Differentiate with example direct and indirect services.
• Mention the traders who are involved in foreign trade .
• What are aids to trade?
• Mention the aids to trade
• Explain insurance as an aid to trade

FIRST TERM E-LEARNING NOTE

SUBJECT: BUSINESS STUDIES                                                            CLASS: JSS1

SCHEME OF WORK

6                     Different Departments  in an Organization

GENERAL EVALUATION / REVISIONAL QUESTIONS

• The exchange of goods for goods and services for services is called    a. trade by barter    b. trade by exchange    c. trade by engage     d. trade by moving

TOPIC: THE OFFICE

• RECEIVINGINFORMATION : An office receives information from within and outside the organization by means of
• RECORDINGINFORMATION : A piece of information received by an office by means mentioned above is recorded and filed away for use when the needs arises.
• ARRANGINGINFORMATION : Information recorded is distributed to various sections and departments that need it.
• A single room with a table, telephone, fax machine, computer is called    a. big office    b. small office     c. large office     d. complex office
• The means through which information is received in an office are as follows except    a. letter    b. fax    c. e-mail    d. running

TOPIC: DIFFERETNT DEPARTMENTS IN AN ORGANSIATION

INTRODCUTION

• ADMINISTARTIVE DEPARTMENT

TOPIC: INTRODUCTION TO OFFICE EQUIPMENT

• Which of the following statements is not true of extractive occupation?  [a] It involves production of raw materials     [b] It is also called primary production     [c]Examples are farming, hunting, fishing      [d] A banker is in an extractive occupation

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JSS1 First Term Business studies Junior Secondary School

Introduction to business studies, meaning of business studies.

Business Studies may be defined as a combination of inter-related business subjects which lead to learning of basic knowledge and skills.  It is a course in education that is designed to cover the basic elementary knowledge and skills in organizing business enterprises as well as general office administration.

Importance of Business Studies

The following are the importance of Business Studies:

• Acquisition of basic knowledge of Business Studies.
• The development of basic skills in office practice.
• The preparation of students for further learning in Business Studies.
• The provision of orientation and skills for those who undergo further training in order to enable them start a life of work.
• The provision of basic skills for personal use in the future.
• Relating the knowledge and skills to the national economy.
• Update knowledge on current information technology e.g. Internet, E-mail, fax and computer communication.

Components of Business Studies

Business Studies as a subject has inter-related areas of study such as Office Practice, Book-keeping, Commerce , Keyboarding and Computer Studies which function at the same time when an enterprise is established. These inter-related areas of study are also called the Inter-related Elements of Business Studies. There are five components of Business Studies, namely:

(i)  Office Practice:  This is to acquire skills for the purpose of office occupation and administration.

(ii)  Commerce :  It involves the production, exchange, distribution of goods and services in the organization.

(iii)  Book-keeping:  This is for keeping records of all financial transactions of the organization.

(iv)  Typewriting/Keyboarding:  It is for the preparation and production of office documents in the organization.  Keyboarding is the technique of using the computer or typewriter keyboard to produce printed information in hard or soft copy. Hard copy refers to information on paper while soft copy refers to information on the computer ’s storage device.

(v)  Computer studies:  This deals with the use of computers and how it processes data , solves a specific problem or carries out a particular task.

Career Opportunities in Business Studies

Those who have undergone training in Business Studies can be employed as:

• Clerks who keep general office records
• Typists who do copy typing in the office
• Computer operators who use computer to produce office information
• Bookkeepers and accounts clerks who keep record on business transactions
• Salesmen who sell goods in supermarkets and stores
• Receptionists who receive visitors and make telephone calls
• Self- employment: Those who will go to secondary level (senior), can study the following courses in higher institutions:
• Accountancy
• Business Administration
• Personnel Management
• Actuarial Science
• What is Business Studies?
• Mention five objectives of Business Studies.
• State five (5) components of Business Studies.
• List five career opportunity available to those who study Business Studies.

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Business Studies - JSS1 Business studies Lesson Note

Business Studies is an academic discipline that encompasses the study of various aspects of businesses and their operations. It covers a wide range of topics, including management, finance, marketing, human resources, operations, and entrepreneurship. Essentially, it seeks to understand how businesses operate, grow, and succeed in the dynamic and competitive world of commerce.

Importance:

Understanding Business Operations: Business Studies provides insights into the various functions within a business, such as production, marketing, finance, and human resources. This understanding is crucial for individuals aspiring to work in or manage businesses.

Entrepreneurship Development: It nurtures entrepreneurial spirit by educating individuals on the fundamentals of starting, managing, and growing a business. This is essential for fostering innovation and economic growth.

Career Opportunities: Studying business equips individuals with a diverse set of skills that are highly sought after by employers across industries. It opens up career opportunities in fields such as management, finance, marketing, consulting, and entrepreneurship.

Decision-Making Skills: Business Studies emphasizes critical thinking and analytical skills, enabling individuals to make informed decisions in various business scenarios. This is invaluable for both personal and professional life.

Global Perspective: In today's interconnected world, businesses operate in a global marketplace. Business Studies provides a global perspective by exploring international trade, globalization, and cross-cultural management, preparing individuals to thrive in a multicultural environment.

Contribution to Economic Development: Businesses play a significant role in driving economic growth and development. Business Studies equips individuals with the knowledge and skills to contribute to the creation and expansion of businesses, thereby stimulating economic progress.

Ethical Considerations: Business Studies addresses ethical issues and corporate social responsibility, emphasizing the importance of conducting business in an ethical and socially responsible manner. This is essential for building trust and maintaining long-term relationships with stakeholders.

Adaptability: The business landscape is constantly evolving due to technological advancements, market dynamics, and changing consumer preferences. Business Studies equips individuals with the ability to adapt to these changes and innovate to stay competitive.

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Introduction to Business Studies

Explain the meaning of Business Studies State the importance of Business Studies Identify the components of Business Studies List career/ employment Opportunities in Business Studies

What you'll learn

• Business Studies:
• ii. Importance
• iii. Components
• Office practice
• Book Keeping
• Keyboarding
• Career Opportunities

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JSS 1 Business Studies

INTRODUCTION

This online lesson is very valuable, concise and easy to understand – designed to help students study easily and pass excellently. It aligns well with the National Education Research and Development Council (NERDC) approved Curriculum.

It contains Subject notes (eTextbooks), weekly schemes of work, assignments, revision notes, mock tests, practice exams and quizzes designed to assess students’ knowledge of the subjects.

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LESSON OBJECTIVES

• Complement classroom lessons with relevant e-content
• Help Students to become competent in the different subject areas
• Eliminate exam fever by helping students to practice and prepare adequately
• Engender positive engagement and collaboration with other students and teachers

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Overview Of Business Studies

• Introduction to Business Studies

Effective Office Practice

• Office Staff
• Right Attitude to Work
• The Departments in an office/ organization

Commerce – The Heart Of Business

• Introduction to Commerce
• Divisions of Commerce
• Factors of Production
• Types of Occupation
• Honesty in Business
• Ethics in Sourcing Chemicals
• Entrepreneurship
• Importance of Entrepreneurship
• Forms of Business Organization
• Consumer, Market and Society
• Need for Monitoring and Control of Chemicals

Book-Keeping And Business Success

• Introduction to Book-keeping
• Source Documents
• Double Entry Book-keeping

Keyboarding As A Communication Tool

• Introduction to keyboarding
• Parts of a Computer Keyboard
• Care of the computer
• Correct Keyboarding Techniques
• Home Row Keys
• Alphanumeric Keys
• Basic Service Keys
• Correct Spacing and Punctuation Marks

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Course Features

• Duration : 19 week
• Enrolled : 9559
• Assessments : Self

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Complete JSS1 Business Studies Lesson Note

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Description

These lesson notes cover the following topics for JSS1 First, Second and Third Term Business Studies :

1                     Introduction to Business Studies

2                     The Office

3                     Office Staff

4-5                 Right Attitude to Work

6                     Different Departments  in an Organization

7                     Introduction to Commerce

8                     Division of Commerce

9                     Production

10-11             Revision

SECOND TERM

1. Production – Meaning of Production, Types of production: industry – Extractive manufacturing and constructive industry. Commerce- Trade, Aids to Trade, Services. Effects of Production on the Environment/Society 2. Factors of production: land, labour, capital, entrepreneur and importance of each. 3. Forms of business organization: Types of business organization – Sole Trade/sole proprietorship, partnership, limited liability companies, cooperative society, advantages and disadvantages of each forms of business organization 4. Relationship between producers and consumers.

5. Insurance: advantages and disadvantages of insurance

6. Methods of Buying: sample method, inspection method, description method, auction method.

7. Trade: Meaning, Home and foreign trade, visible import and export, invisible import and export. 8. Double entry bookkeeping: meaning of double entry, double entry treatment of asset, double entry treatment of liability, double entry treatment of expenses, meaning of journals, types of journals, meaning of ledgers, classes of ledger, classification of accounts: real, personal and impersonal

9 Revision 10, Revision 11 – 12 Examination

WK1: Double Entry Book-keeping

WK2: Journals; Ledgers; Classification of Accounts

WK3: Introduction to Keyboarding

WK4: Parts of a Computer Keyboard

WK5: Care of the Computer; Correct Keyboarding Techniques

WK6: Home Row Keys (Keyboarding Applications)

WK7: Alphanumeric Keys (Keyboarding Applications)

WK8: Basic Service Keys (Keyboarding Applications)

WK9: Correct Spacing and Punctuation Marks (Keyboarding Applications)

WK10: Business Studies Upper Basic 7 Third Term Examination (Mock)

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Business Studies JSS1 Third Term Journal

Business Studies J.S.S 1 Third Term

Performance Objectives

The student should be able to:

     1. Explain the meaning of journal.

     2. Draw the correct form of a journal.

     3. List the different types of journal.

     4. Use source documents for preparation of an appropriate book of original entry.

Meaning of Journal

A journal is a document which contains the daily records of business transactions. Each record in a journal is called an entry. The journal is called a book of original entry because its entries are transferred to a second book.

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• Revision of last term's question paper
• Introduction to book-keeping
• Source documents I
• Source documents II
• Double entry book-keeping
• Introduction to shorthand
• Pitman shorthand consonants
• Introduction to keyboarding
• Parts of the typewriter
• Chapters 12
• Category JSS1
• Author ClassNotes Edu

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Introduction to Bookkeeping

Back to: BUSINESS STUDIES JSS1

Welcome to class! 

In today’s class, we will be talking about the introduction to bookkeeping. Enjoy the class!

What is bookkeeping?

Bookkeeping is the act of systematic keeping of a daily adequate financial record of all transactions of a business. It involves the recording, daily, of a company’s financial transactions. With proper bookkeeping, companies can track all information on its books to make key operating, investing, and financing decisions.

Bookkeepers are individuals who manage all financial data for companies. Without bookkeepers, companies would not be aware of their current financial position, as well as the transactions that occur within the company.

Importance of bookkeeping

• Individual and firm are made to know how to spend money prudently,
• It creates employment opportunity in the area of accounting.
• It prevents fraud by dishonest staff.
• Individual, businessperson are helped by it to remember all items bought or sold in connection with the business.
• It enables an individual or firm to be aware of the true financial position of its business.

Common bookkeeping practices

These are the steps taken by the bookkeeper before the accountant then takes over. These steps or practices undertaken by the bookkeeper include:

• Posting of transaction ledgers.
• Preparing of subsidiary books.
• Extracting the trials balance from the ledgers.
• Classifying source documents.

Common bookkeeping ethics

• Objectivity
• Current and up-to-date

Types of bookkeeping

The following are the types of bookkeeping:

• Double-entry system
• Single-entry system
• Virtual bookkeeping
• Bookkeeping software.

Double-entry system:

Double-entry bookkeeping systems are used for businesses that routinely have more complex transactions. Companies that collect income through accounts receivable and receive merchandise and inventory on credit are better-suited for this method. This system posts single transactions as an income or expense item then create a second entry to trace the transaction to a corresponding account.

For example, if you receive income from a customer, the revenue is posted as income and also traced to the customer’s account. In the event you are audited or need to know where income and expense payments generated, you’ll have a paper trail to find the information quickly. This system uses debits and credits, which is the accountant’s language of increases and decreases to each account affected by your transactions.

Single-entry system:

The single-entry bookkeeping system is used for businesses that have minimal or uncomplicated transactions. This system records cash sales and business expenses that are paid when incurred. This system is not traditionally used for businesses that have accounts receivable, accounts payable or many capital transactions. Bookkeeping entries under this system don’t match transactions to corresponding accounts, which can make tracing revenues and expenses more difficult.

In essence, the single-entry system consists of a cash sales journal, a cash disbursements journal and your bank statements. An entry is made to the sales journal when revenue is received, and an entry is made to the disbursement journal when an expense is paid. Your journal entries should reconcile with your bank account transactions.

Virtual bookkeeping:

If the whole idea of a single entry and double-entry bookkeeping methods makes you queasy, you might benefit from virtual bookkeeping services. A virtual bookkeeper eliminates the need for expensive CPA fees or an in-house bookkeeping employee. Most virtual bookkeepers accept your sales invoices, expense receipts and payroll ledgers electronically. The bookkeeper posts your transactions to appropriate journals and ledgers, and emails you a copy of your reports. Virtual bookkeepers are typically CPAs or degreed accountants who tend to have lower fees than private CPA firms.

Bookkeeping software:

Many small business owners use bookkeeping software to keep track of financial activities. Programs such as Quick Books and Sage formerly Peachtree,  use the double-entry bookkeeping system, but you won’t necessarily need to be well versed in the method to use the software. These programs are relatively user-friendly and prompt you to enter information to complete and post your transactions. Various versions of the software exist, ranging from basic to professional capacities, and you can purchase the software in desktop, online or cloud versions.

We hope you enjoyed the class.

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