UTME syllabus
JAMB Accounting syllabus
Every topic JAMB can set Accounting questions on, with what you should be able to do for each. Open a topic to see its contents and objectives.
What the syllabus aims to do
It prepares candidates to:
- Stimulate and sustain their interest in Principles of Accounting
- Use basic principles, knowledge, practical skills in Financial Accounting
- Apply the knowledge and interpretation of Accounting information to decision making
- Appreciate the relevance of Accounting information to business and governments
- Apply information technology in solving Accounting problems
Nature and Significance of Book keeping and Accounting
Contents
- Development of Accounting (including branches of accounting)
- Objectives of Book Keeping and accounting
- Users and characteristics of Accounting information
- Principles, concepts and conventions of Accounting (nature, significance and application)
- Role of Accounting records and information
- Career opportunities in Book Keeping and Accounting
Objectives: candidates should be able to
- differentiate between Book Keeping and Accounting
- understand the historical background of Book Keeping and Accounting
- apply the right principles, concepts and conventions to solving Accounting problems
- understand the role of Accounting information in decision making
- identify the types/branches of Accounting such as Cost Accounting, Management Accounting, Auditing, Financial Accounting, Forensic Accounting, Social and Environmental Accounting, Government Accounting and Taxation
- identify the different career opportunities in Book Keeping and Accounting
Principles of Double Entry
Contents
- Source documents
- Books of original entry
- Accounting equation
- Ledger and its classifications
- Trial balance
- Types and correction of errors
- Suspense Account
Objectives: candidates should be able to
- identify various source documents and their uses
- relate source documents to the various books of original entry
- determine the effect of changes in elements of Accounting equation
- understand the role of double entry principles in treating financial transactions
- extract a trial balance from ledger accounts
- identify various types of errors and their corrections
- correct errors using suspense account
Ethics, Professional and Regulatory Bodies in Accounting
Contents
- Objectives
- Qualities of an Accountant
- Accounting professional bodies in Nigeria
- Accounting regulatory bodies
Objectives: candidates should be able to
- understand the ethics required in preparing and presenting Accounting information
- understand qualities of an Accountant such as honesty, integrity, transparency, accountability and fairness
- understand the purpose and functions of Accounting professional bodies in Nigeria
- understand the purpose and functions of Accounting regulatory bodies in Nigeria e.g. Financial Reporting Council of Nigeria (FRCN), Corporate Affairs Commission (CAC) and International Accounting Standard Board (IASB)
Cash Book
Contents
- Columnar Cash Books:
- single column
- double column
- three column
- Discounts
- Petty Cash Book and imprest system
Objectives: candidates should be able to
- determine the cash float
- differentiate between two and three columnar cash books and how transactions are recorded in them
- differentiate between trade and cash discounts
- examine the effects of trade and cash discounts in the books of accounts
- identify various petty cash expenses
Bank Transactions and Reconciliation Statements
Contents
- Instrument of bank transactions
- e-banking system
- Causes of discrepancies between cash book and bank statement
- Bank reconciliation statement
- Adjusted cash book
Objectives: candidates should be able to
- identify various instruments of bank transactions such as cheques, pay-in-slips, credit cards, debit cards, internet banking and their uses
- assess the impact of automated credit system, credit transfers, interbank transfers and direct debit on cash balances
- identify factors that cause discrepancies between cash book balance and bank statement
- determine adjusted cash book balance
Final Accounts of a Sole Trader/Proprietor
Contents
- Statement of profit or loss/income statement
- Statement of financial position
- Adjustments:
- provision for bad and doubtful debt
- provision for discounts
- provision for depreciation using straight-line and reducing balance methods
- accruals and prepayment
Objectives: candidates should be able to
- determine the cost of sales, gross profit and net profit of a sole trader
- identify non-current assets, current assets, long-term liabilities, current liabilities and proprietor’s capital
- compute adjustable items on the related expenditure and income in the statement of profit or loss
- differentiate between bad debts and provision for bad and doubtful debts
Stock Valuation
Contents
- Meaning and purpose of stock valuation
- Methods of stock valuation e.g., FIFO, LIFO and simple average
- Advantages and disadvantages of the methods
Objectives: candidates should be able to
- determine the value of materials issued to production department using FIFO, LIFO and simple average
- calculate the closing stock of materials or finished goods using FIFO, LIFO and simple average
- compare the advantages and disadvantages of each method of stock valuation
- determine the effects of stock valuation on elements of income statement
Control Accounts
Contents
- Meaning and uses of control accounts
- Purchases ledger control account
- Sales ledger control account
Objectives: candidates should be able to
- understand the meaning of control accounts
- identify the uses of control accounts in a business enterprise
- differentiate between sales ledger control account and purchases ledger control account
- identify the entries in control accounts
Incomplete Records and Single Entry
Contents
- Meaning of incomplete records and single entry
- Differentiate between incomplete records and single entry
- Determination of missing figures
- Preparation of final accounts from incomplete records
- Conversion of single entry to double entry
Objectives: candidates should be able to
- understand and differentiate between incomplete records and single entry
- determine proprietor’s capital using statement of affairs
- determine the amount of sales, purchases, cash balances, debtors, creditors and expenses by converting single entry to double entry
- use accounting equations, gross and net profit percentages to determine cost of sales, gross and net profits
Manufacturing Accounts
Contents
- Purpose of manufacturing account
- Cost classification
- Cost apportionment
- Preparation of manufacturing account
Objectives: candidates should be able to
- identify the reason for preparing manufacturing account
- calculate prime cost, overhead cost, production cost and total cost
- determine the basis of cost apportionment among production, administration, selling and distribution
Accounts of Not-For-Profit-Making Organizations
Contents
- Objectives
- Receipts and payments account
- Income and expenditure account
- Statement of financial position
Objectives: candidates should be able to
- distinguish between profit oriented and Not-For-Profit-Making Organizations
- determine annual subscription, subscription in arrears and in advance
- compute the cash balances, accumulated funds, surplus or deficit for the period
Departmental Accounts
Contents
- Objectives
- Apportionment of incomes and expenses
- Departmental statement of profit or loss
- Inter-departmental transfer
Objectives: candidates should be able to
- identify the reasons for preparing departmental accounts
- determine the expenses and incomes attributable to departments
- compute departmental profit or loss
- understand the Accounting treatment of inter-departmental transfer
Branch Accounts
Contents
- Objectives
- Types of branches
- Pricing methods and accounts maintained by head office
- Account maintained by a branch
- Reconciliation of branch and head office books
Objectives: candidates should be able to
- understand the reasons for preparing branch accounts
- differentiate between types of branches
- calculate profit or loss from branches
- reconcile the difference between branch and head office accounts
Joint Venture Accounts
Contents
- Objectives and features
- Forms of joint ventures
- Accounting procedures
- Memorandum joint venture accounts
Objectives: candidates should be able to
- identify the objectives and features of joint venture
- identify the forms of joint venture
- identify the Accounting procedures of joint venture
- determine the profit or loss of joint venture
Partnership Accounts
Contents
- Formation of partnership
- Partners current and capital accounts
- Partnership final accounts:
- profit or loss account
- appropriation account
- statement of financial position
- Treatment of goodwill
- Admission/retirement of a partner
- Dissolution of partnership
Objectives: candidates should be able to
- understand the procedures for the formation of partnership
- identify the accounts maintained for partnership business
- determine the effects of admission and retirement of a partner
- determine profit or loss on revaluation of assets
- determine the partners’ share of profit or loss on dissolution
Introduction to Company Accounts
Contents
- Formation and classification of companies
- Issue of shares and debentures
- Final accounts of companies:
- statement of profit or loss
- statement of financial position
- Accounting ratios
- Distinction between capital and revenue reserves
Objectives: candidates should be able to
- differentiate between types of companies
- identify the procedures of treating the issue of shares and debentures
- compute the elements of final accounts of companies
- compute and interpret Accounting ratios such as current, acid test and stock turnover
Public Sector Accounting
Contents
- Accounting basis in public sector
- 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
- Current issues in public sector Accounting:
- Treasury Single Account (TSA)
- International Public Sector Accounting Standard (IPSAS)
- Integrated Payroll and Personnel Information System (IPPIS)
Objectives: candidates should be able to
- differentiate between public and private sector accounting
- identify the sources of government revenue
- differentiate between capital and recurrent expenditure
- calculate consolidated revenue fund and determine the values of assets and liabilities
- identify the duties of the Accountant General, Auditor General, Minister of Finance and Treasurer of Local Government
- distinguish between elements of control in government accounting procedures e.g. warrant, votes, budget and due process certificate
- understand current trends in public sector Accounting
Information Technology in Accounting
Contents
- Manual and computerized Accounting processing system
- Procedures involved in data processing
- Digitization and digital technologies in Accounting:
- machine learning and artificial intelligence (AI)
- data analytics
- mobile accounting
- special accounting software
- Block chain technology in Accounting system
- Virtual Accounting
Objectives: candidates should be able to
- differentiate between manual and computerized Accounting processing system
- identify the procedures involved in data processing
- identify the digital technologies used in Accounting processing system
- understand the benefits of block chain technology in Accounting system
- identify the services provided by virtual accountants such as book keeping, payroll processing, tax preparation, banks, credit and loan accounts reconciliation, financial statement preparation etc.
- identify the advantages and disadvantages of computerized Accounting processing system
Practise every Accounting topic
JambCBT sorts its Accounting past questions by these syllabus topics, so you can practise one topic at a time and see which ones need more work.
2 free practice quizzes. No card needed.