SSS3 Commerce Scheme of Work

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About SSS3 Commerce Scheme of Work

Commerce covers a wide range of topics about how businesses operate and how economic activities affect our daily lives. It is extensively taught at this level using the Lagos state unified scheme of work. It teaches students about trade, business, finance, marketing, and entrepreneurship. These subjects are important for anyone interested in business, economics, finance, or management careers. 

For WASSCE, students must understand these concepts deeply. The exam tests their knowledge of economics, their ability to analyze business situations, and how well they understand market rules. Doing well in commerce not only helps students pass their exams but also gives them the skills to make smart decisions in real-life economic situations.

Commerce also teaches critical thinking and problem-solving. Students learn to analyze business problems, interpret financial reports, and understand market trends. These skills are very useful for jobs where you need to make smart decisions based on economic information.

Assessment Guide

Assessing commerce in SSS3 involves different methods. Students are tested through WASSCE exams that include multiple-choice questions, short-answer questions, and essays. They might also be asked to solve case studies where they analyze real-life business problems and propose solutions. Practical assessments could involve creating business plans or analyzing financial statements of actual companies. 

These assessments help teachers and assessors see how well students understand commerce concepts and how they apply them in different situations.

SSS3 First Term Scheme of Work for Commerce

 Commerce Scheme of Work for Senior Secondary Schools 3(SSS3)
 ClassS.S.S 3
 TermFirst Term
1CapitalCapital 1. Meaning
– Economist concept
– Accountants concept.
– Layman’s concepts
2. Types: Authorized, registered, nominal, issued capital, called up, paid-up capital, capital employed, liquid/circulating capital.
3. Calculation of working
4. Importance of working capital
2CreditCredit 1. Meaning
2. Sources Mortgage Loans & Overdrafts, finance houses etc. Hire Purchase
3. Function of credit to retailer wholesaler
4. Credit instruments
3ProfitProfit 1. Meaning
2. Types – Gross profit – Net profit
3. Calculations of gross profit, and net profit, percentage of gross profit or net profit to turn over
4TurnoverTurnover 1. Meaning
2. Relationship of capital investment to turnover.
3. Calculation of rate of turnover
4. Calculation of gross profit / net profit to turnover
5. Variation in different types of business.
5Business Law1. Branches of commercial law e.g. sale of goods, contract, agent, hire purchases, etc.
2. Principles of agency.
3. Rights and obligations of employer and employee.
4. Government regulations of business.
– Regulation of business
– Patent e.g. intellectual property.
– trademark
– copyrights
6The Structure of Business1. Organizational set up.
2. Authority
3. Responsibility
4. The span of control
5. Inter and intra-departmental communication.
7Introduction to business management 
8Introduction to business management1. Business organization – Department – Functions – Organizational charts.
2. Business and its environment
3. Social responsibilities of business.
Scholarship award Employment of people in the community
Sponsoring sports and games on radio/television
Provision of social amenities
– sponsoring educative programme on radio and television.
9Introduction to management1. Meaning of marketing
2. Importance and functions of marketing in an economy
3. Marketing concept and marketing mix – Product – Price – Place – promotion
10Consumer protectionConsumer protections
1. Need for protection
2. Consumer rights
3. Instruments for protection e.g. legislation such as
– Trade Descriptor Act of 1968
– Standard Organization of Nigeria – National Agency for Food and Drug Administration and Control (NAFDAC)
– Rent tribunals
– Sanitary inspection
– Environmental agencies etc.


SSS3 Second Term Scheme of Work for Commerce

 TermSecond Term
1Business documents1. Essential business documents: letter of inquiry, invoice, credit, receipt, quotation, catalogs, price list delivery notes, consignment notes, Performa invoice, statement of account and debt note, etc.
2. Trade terms and abbreviations trade of discount: COD (Cash on delivery, CIF (cost insurance prefight – FOR (force on roll) – FAS (force alongside slip).
3. Terms of trade: cash, credit payment in areas.
4. Means of payment – Legal tender e.g. coins, bank notes. Through the bank e.g. cheques, Western Union, electronic money transfer money gram etc.
2Commercialization1. Meaning of commercialization.
2. Reasons for commercialization.
3. Advantages and disadvantages of commercialization.
3Privatization1. Meaning of privatization
2. Reasons for privatization
3. Advantages and disadvantages of privatization
4. Difference between commercialization and privatization.
4DeregulationDeregulation 1. Meaning 2. Advantages 3. Disadvantages
5History of the Nigerian capital market.Historical Development
1. 1946: development loan stock (First issue)
2. 1960: Lagos Stock Exchange Act.
3. 1962: capital issue committee
4. 1979 capital issue commission.
6History of the Nigerian capital market.(cont’d)Historical development
1. 1979: Securities and Exchange Commission decree No. 71.
2. 1985: second tier securities market (SSM)
3. 1999: Investment and Securities Act.
7Stock exchange (SE)1. Stock exchange: – meaning function – importance
2. Organizational setup and transactions at the exchange stock
3. Stock exchange securities – Meaning, Types a. Shares b. Stock c. Bonds d. Gilt–edged e. Debentures
4. Capital markets
– Meaning, Methods of raising funds:
a. offer for sale b. offer for subscription c. Rights issue d. Private placement
5. Speculation: – meaning – speculators
6. Bodies – Public Companies – Government
8Second tier securities market (SSM)1. Meaning
2. Advantages to the companies and the investing public
3. Primary and secondary markets first-tier and second-tier markets.
9Economic Groupings in west Africa1. Economic communities of West African States (ECOWAS)
– History – Member Countries – Objectives – Achievements – Problems
2. Nigeria Basin Commission (NBC) – History – Member countries – Objection – Achievement – Problems
10Economic Groupings in west AfricaLake and Basin Commission (LCBC) – History – Member countries – Achievements – problems
4. West African Clearing House (WACH) – History – Member countries – Objectives – Achievements – Problems.

Recommended Commerce Textbooks for Senior Secondary School 3

The recommended Commerce textbooks for SSS3 include but are not limited to the following:

  • Faman Commerce for Senior Secondary Schools Book 1 – 3 by Bayo Fijabi Faman
  • Pub.  Series Past Questions on Commerce 
  • Thercee Millennium Commerce by Rose Chinwe Okafor Onwubiko – Printing & Packing SS 1-3
  • New Age Commerce by Olisa A.C, Ekong B.A et al – New Age Press SS 1-3 
  • Comprehensive Cert. Commerce by Daniel C. Azuh, Adedoyin Soyibo – University Press SS 1-3 
  • Current Commerce by Augustina Nzebunachi, Flourish Okereke – Mis-Fav Publisher Ltd SS 1-3 
  • Senior Secondary Commerce by M.O Odedokun, P.C Udokogu et al Learn Africa SS 1-3 

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