Image and video hosting by TinyPic

TOPICS/CONTENTS/NOTES
a. Development of accounting (including branches of
accounting)
b. Objectives of bookkeeping and accounting;
c. Users and characteristics of Accounting information
d. Principles, concepts and conventions of accounting (nature,
significance and application)
e. Role of accounting records and information
OBJECTIVES
Candidates should be able to:
i. differentiate between bookkeeping and accounting;
ii. use the historical background of bookkeeping and
accounting for future development;
iii. apply the right principles, concepts and conventions to
solving accounting problems;
iv. examine the role of accounting records and information in
decision making.
v. List the branches of Accounting such as Cost Accounting,
Management Accounting, Auditing, Financial Accounting and
Taxation.
2. Principles of Double Entry
TOPICS/CONTENTS/NOTES
a. Functions of source documents
b. Books of original entry
c. Accounting equation
d. The ledger and its classifications
e. Trial balance
f. Types and treatment of errors and uses of suspense account
OBJECTIVES
Candidates should be able to:
i. relate the various source documentsto their uses;
ii. relate source documents to the various books of original
entry;
iii. determine the effect of changes in elements of accounting
equation;
iv. identify the role of double entry and use it to post
transactions into various divisions of the ledger;
v. balance off ledger accounts;
vi. extract a trial balance from balances and determine its
uses;
3. Ethics in Accounting
TOPICS/CONTENTS/NOTES
a. Objectives
b. Qualities of an Accountant
OBJECTIVES
Candidates should be able to:
i. use ethics in preparing and presenting Accounting Reports;
ii. list qualities of an Accountant such as honesty, integrity,
transparency, accountability and fairness.
vii. identify various types of errors and their necessary
corrections;
viii. create a suspense account.
4. Cashbook
TOPICS/CONTENTS/NOTES
a. Columnar cashbooks
b. Discounts
c. Petty cashbook and the imprest system
OBJECTIVES
Candidates should be able to:
i. determine the cash float;
ii. differentiate between two and three columnar cashbooks
and how transactions are recorded in them;
iii. differentiate between trade and cash discounts;
iv. examine the effects of trade and cash discounts in the
books of accounts.
v. Identify various petty cash expense;
5. Bank Transactions and Reconciliation Statements
TOPICS/CONTENTS/NOTES
a. Instrument of bank transactions
b. e-banking system
c. Courses of discrepancies between cashbook and bank
statement
d. Bank reconciliation statement
OBJECTIVES
Candidates should be able to:
i. identify bank documents such as cheques, pay-in-slips,
credit and debit cards and their uses;
ii. assess the impact of automated credit system, credit
transfers, interbank transfers and direct debit on cash
balances;
iii. list factors that cause discrepancies between balances of
cashbook and bank statements
iv. prepare adjusted cashbook balance
v. prepare bank reconciliation statements.
6. The Final Accounts of a Sole Trader
TOPICS/CONTENTS/NOTES
a. Income statement (Trading and profit and loss account)
b. Statement of financial position (Balance sheet)
c. Adjustments:
i. provision for bad and doubtful debt
ii. provision for discounts
iii. provision for depreciation using straight-line and reducing
balance methods
iv. accruals and prepayments
OBJECTIVES
Candidates should be able to:
i. determine the cost of sales, gross profit and net profit of a
sole trader;
ii. identify fixed assets, current assets, long- term liabilities,
current liabilities and proprietor’s capital;
iii. compute adjustable items on the related expenditure and
income in the profit and loss account;
iv. relate the adjustable items and their corresponding
disclosure in the statement of financial position;
v. differentiate between bad debts and provision for bad and
doubtful debts.
7. Stock Valuation
TOPICS/CONTENTS/NOTES
a. Methods of cost determination using FIFO, LIFO and simple
average
b. The advantages and disadvantages of the methods
c. The importance of stock valuation
OBJECTIVES
Candidates should be able to:
i. determine the cost of materials issued to production or cost
of goods sold using FIFO, LIFO and simple average;
ii. calculate the closing stock of materials or finished goods
using FIFO, LIFO and simple average;
iii. compare the advantages and disadvantages of each
method of stock valuation;
iv. determine the effects of stock valuation on trading, profits
and cost of goods sold.
8. Control Accounts and Self-balancing Ledgers
TOPICS/CONTENTS/NOTES
a. Importance of control accounts
b. Purchases ledger control account
c. Sales ledger control account
OBJECTIVES
Candidates should be able to:
i. determine the importance of control accounts in a business
enterprise;
ii. differentiate between sales ledger control account and
purchases ledger control account;
iii. identify the individual elements of control accounts;
iv. prepare the control accounts
9. Incomplete Records and Single Entry
TOPICS/CONTENTS/NOTES
a. Conversion of single entry to double entry
b. Determination of missing figures
c. Preparation of final accounts from incomplete records
OBJECTIVES
Candidates should be able to:
i. determine proprietor’s capital using statement of affairs;
ii. determine the amount of sales, purchases, cash balances,
debtors, creditors and expenses by converting single entry to
double entry;
iii. use accounting equations and gross profit percentage to
determine gross profit or cost of sales.
10. Manufacturing Accounts
TOPICS/CONTENTS/NOTES
a. Cost classification
b. Cost apportionment
c. Preparation of manufacturing account
OBJECTIVES
Candidates should be able to:
i. calculate prime cost, production overhead, production cost
and total cost;
ii. determine the basis of apportionment into production,
administration, selling and distribution.
11. Accounts of Not-For-Profit-Making Organizations.
TOPICS/CONTENTS/NOTES
a. Objectives of Not-For-Profit-Making organizations
b. Receipts and payments account
c. Income and expenditure account
d. Statement of financial position (Balance sheet)
OBJECTIVES
Candidates should be able to:
i. distinguish between the features of Not-for-profit-making
organizations;
ii. determine the subscription income, subscription in arrears
and in advance;
iii. compute the cash balances and accumulated funds,
surplus and deficit for the period from all sources.
iv. Prepare:
a. receipts and payments account
b. income and expenditure account
c. statement of financial position
12. Departmental Accounts
TOPICS/CONTENTS/NOTES
a. Objectives
b. Apportionment of expenses
c. Departmental trading and profit and loss account
OBJECTIVES
Candidates should be able to:
i. identify the reasons for departmental accounts;
ii. determine the expenses associated with individual
departments;
iii. compute departmental profits or losses.
13. Branch Accounts
TOPICS/CONTENTS/NOTES
a. Objectives
b. Branch accounts in the head office books
c. Head office account
d. Reconciliation of branch and head office books
OBJECTIVES
Candidates should be able to:
i. determine the reasons for branch accounts;
ii. calculate profits and losses from branches;
iii.determine the sources of differences and reconcile them.
14. Joint Venture Accounts
TOPICS/CONTENTS/NOTES
a. Objectives
b. Personal accounts of venturers
c. Memorandum Joint venture accounts
OBJECTIVES
Candidates should be able to:
i. identify the objectives of Joint Venture;
ii. determine the profit or loss of the Joint Venture;
iii.determine the profit or loss of each venture.
15. Partnership Accounts
TOPICS/CONTENTS/NOTES
a. Formation of partnership
b. Profit and loss account
c. Appropriation account
d. Partners current and capital accounts
e. Treatment of goodwill
f. Admission/retirement of a partner
g. Dissolution of partnership
h. Conversion of a partnership to a company
OBJECTIVES
Candidates should be able to:
i. determine the instruments of partnership formation;
ii. categorize all accounts necessary for partnership;
iii. determine the effects of admission and retirement of a
partner;
iv. prepare revaluation account
v. identify the accounts required for dissolution and
conversion to a company;
vi. determine the partners share of profits or losses
16. Introduction to Company Accounts
TOPICS/CONTENTS/NOTES
a. Formation and classification of companies
b. Issue of shares and debentures
c. Final accounts of companies
d. Interpretation of accounts using ratios.
e. Distinction between capital and revenue reserves
OBJECTIVES
Candidates should be able to:
i. differentiate between types of companies;
ii. identify the processes and procedures of recording the
issue of shares and debentures;
iii. compute elements of final accounts of companies;
iv. Interprete the accounts for decision making using ratios
such as current, acid test and stock turnover.
17. Public Sector Accounting
TOPICS/CONTENTS/NOTES
a. Comparison of cash and accrual basis of accounting
b. Sources of government revenue
c. Capital and recurrent expenditure
d. Consolidated revenue fund
e. Statement of assets and liabilities
f. Responsibilities and powers of:
i. The Accountant General
ii. The Auditor General
i. The Minister of Finance
ii. The Treasurer of local government
g. Instruments of financial regulation
OBJECTIVES
Candidates should be able to:
i. differentiate between public sector accounting and private
sector accounting;
ii. identify the sources of government revenue;
iii. differentiate between capital and recurrent expenditure;
iii. calculate consolidated revenue fund and determine the
values of assets and liabilities;
iv. analyse the duties of the Accountant General, the Auditor
General, the Minister of Finance and the Treasurer of local
government;
v. distinguish between the elements of control in government
accounting procedures e.g. virement, warrant, votes, authority
to incur expenditure, budget and due process certificate.
18. Information Technology in Accounting
TOPICS/CONTENTS/NOTES
a. Manual and computerized accounting processing system
b. Processes involved in data processing
c. Computer hardware and software
d. Advantages and disadvantages of manual and
computerized accounting processing system
OBJECTIVES
Candidates should be able to:
i. relate and differentiate between manual and computerized
accounting processing system;
ii. identify the processes involved in data processing;
iii. relate the different components of computer;
iv. identify the advantages and disadvantages of manual and
computerized accounting processing system.xbossloaded.blogspot.com

Do Not Claim Absolute Ownership Of This Content, Contact us For Resolution Cases.
ALERT!! - To Get 2018/2019 JAMB And Admission Updates, Send A Whatsapp Message "Hello JAMB" To 08135671872" (WhatsApp Only, No Calls, It's Free! )
SKIP THIS AD

CLICK TO DROP YOUR COMMENT



Share this post with your Friends on