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See JAMB Accounting syllabus
This JAMB syllabus for Accounting is to prepare you for JAMB examination by testing you on the following Accounting topics:
1. Nature and Significance of Accounting
- Development of accounting (including branches of accounting);
- Objectives of bookkeeping and accounting;
- Users and characteristics of Accounting information;
- Principles, concepts and conventions of accounting (nature, significance and application);
- Role of accounting records and information.
2. Principles of Double Entry
- Functions of source documents.
- Books of original entry.
- Accounting equation.
- The ledger and its classifications.
- Trial balance.
- Types and treatment of errors and uses of suspense account.
3. Ethics in Accounting
- Objectives.
- Qualities of an Accountant.
4. Cashbook
- Columnar cashbooks.
- Discounts.
- Petty cashbook and the imprest system.
5. Bank Transactions and Reconciliation Statements
- Instrument of bank transactions.
- e-banking system.
- Causes of discrepancies between cashbook and bank statement.
- Bank reconciliation statement.
6. The Final Accounts of a Sole Trader
- Income statement (Trading and profit and loss account).
- Statement of financial position (Balance sheet).
- Adjustments:
- provision for bad and doubtful debt.
- provision for discounts.
- provision for depreciation using straight-line and reducing balance methods.
- accruals and prepayments.
7. Stock Valuation
- Methods of cost determination using FIFO, LIFO and simple average.
- The advantages and disadvantages of the methods.
- The importance of stock valuation.
8. Control Accounts and Self-balancing Ledgers
- Importance of control accounts.
- Purchases ledger control account.
- Sales ledger control account.
9. Incomplete Records and Single Entry
- Conversion of single entry to double entry.
- Determination of missing figures.
- Preparation of final accounts from incomplete records.
10. Manufacturing Accounts
- Cost classification.
- Cost apportionment.
- Preparation of manufacturing account.
11. Accounts of Not-For-Profit-Making Organizations
- Objectives of Not-For-Profit-Making organizations.
- Receipts and payments account.
- Income and expenditure account.
- Statement of financial position (Balance sheet).
12. Departmental Accounts
- Objectives.
- Apportionment of expenses.
- Departmental trading and profit and loss account.
13. Branch Accounts
- Objectives.
- Branch accounts in the head office books.
- Head office account.
- Reconciliation of branch and head office books.
14. Joint Venture Accounts
- Objectives.
- Personal accounts of venturers.
- Memorandum Joint venture accounts.
15. Partnership Accounts
- Formation of partnership.
- Profit and loss account.
- Appropriation account.
- Partners current and capital accounts.
- Treatment of goodwill.
- Admission/retirement of a partner.
- Dissolution of partnership.
- Conversion of a partnership to a company.
16. Introduction to Company Accounts
- Formation and classification of companies.
- Issue of shares and debentures.
- Final accounts of companies.
- Interpretation of accounts using ratios.
- Distinction between capital and revenue reserves.
17. Public Sector Accounting
- Comparison of cash and accrual basis of accounting.
- Sources of government revenue.
- Capital and recurrent expenditure.
- Consolidated revenue fund.
- Statement of assets and liabilities.
- Responsibilities and powers of:
- The Accountant General.
- The Auditor General.
- The Minister of Finance.
- The Treasurer of local government.
- Instruments of financial regulation.
18. Information Technology in Accounting
- Manual and computerized accounting processing system.
- Processes involved in data processing.
- Computer hardware and software.
- Advantages and disadvantages of manual and computerized accounting processing system.
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