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Showing posts with label Jamb. Show all posts
Showing posts with label Jamb. Show all posts

Thursday 10 January 2019

Jamb 2019 syllabus for accounting

Nature and Significance of Accounting

Topics: 
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.

JAMB Syllabus For Principles Of Accounts | 2. Principles of Double Entry

Topics: 
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 documents to 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;
vii. identify various types of errors and their necessary corrections;
viii. create a suspense account.

JAMB Syllabus For Principles Of Accounts | 3. Ethics in Accounting

Topics: 
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.

JAMB Syllabus For Principles Of Accounts | 4. Cashbook

Topics: 
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;

JAMB Syllabus For Principles Of Accounts | 5. Bank Transactions and Reconciliation Statements

Topics: 
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.

JAMB Syllabus For Principles Of Accounts | 6. The Final Accounts of a Sole Trader

Topics:
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.

JAMB Syllabus For Principles Of Accounts | 7. Stock Valuation

Topics:
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.

JAMB Syllabus For Principles Of Accounts | 8. Control Accounts and Self-balancing Ledgers

Topics: 
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

JAMB Syllabus For Principles Of Accounts | 9. Incomplete Records and Single Entry

Topics:
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.

JAMB Syllabus For Principles Of Accounts | 10. Manufacturing Accounts

Topics: 
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.

JAMB Syllabus For Principles Of Accounts | 11. Accounts of Not-For-Profit-Making Organizations.

Topics:
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

JAMB Syllabus For Principles Of Accounts | 12. Departmental Accounts

Topics: 
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.

JAMB Syllabus For Principles Of Accounts | 13. Branch Accounts

Topics:
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.

JAMB Syllabus For Principles Of Accounts | 14. Joint Venture Accounts

Topics: 
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.

JAMB Syllabus For Principles Of Accounts | 15. Partnership Accounts

Topics:
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

JAMB Syllabus For Principles Of Accounts | 16. Introduction to Company Accounts

Topcs:
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.

JAMB Syllabus For Principles Of Accounts | 17. Public Sector Accounting

Topics:
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.

JAMB Syllabus For Principles Of Accounts | 18. Information Technology in Accounting

Topics:
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

Jamb 2019 for commerce

1. Commerce

Topics:
(i) Meaning and scope
(ii) Characteristics
(iii) Functions
Objectives:
Candidates should be able to:
(i) differentiate between Commerce and other related subjects;
(ii) describe the characteristics of Commerce;
(iii) Identify the functions of Commerce

2. Occupation

Topics:
(i) Meaning and importance
(ii) Types (industrial, commercial and services)
(iii) Factors that determine choice of occupation
Objectives: 
Candidates should be able to:
(i) State the importance of occupation;
(ii) Compare the different types of occupation;
(iii) Identify the factors determining the choice of occupation.

3. Production

Topics:
(i) Factors, characteristics and rewards (land, labour, capital and entrepreneur)
(ii) Division of Labour and specialization
(iii) Types (primary, secondary and tertiary)
Objectives:
Candidates should be able to:
(i) identify the Factors of Production and their rewards;
(ii) distinguish between Division of Labour and Specialization;
(iii) classify the types of production.

4. Trade

Topics:

a. Home Trade

(i) Retail trade:
– Types of retailers
– Functions of retailers
– Factors to be considered in setting up retail trade
– Trends in retailing (branding, self -service, vending machines, the use of luncheon, fuel vouchers, etc)
– Advantages and disadvantages of retailers
(ii) Wholesale trade:
– Types of wholesalers (merchant, agent, general, etc)
– Functions of wholesalers
– Advantages and disadvantages of wholesalers

b. Foreign trade

(i) Basic issues in foreign trade (balance of trade, balance of payments and counter trade)
(ii) Procedures and documents used in export, import and entreport trade
(iii) Barriers to international trade
(iv) Role of Customs and Excise Authority, Ports Authority, etc in foreign trade
Objectives: 
Candidates should be able to:
(i) compare the various types of retailers;
(ii) identify the functions of retailers;
(iii) highlight the factors in setting up retail trade;
(iv) classify modern retailing practices;
(v) identify the advantages and disadvantages of retail business;                                                                                                                                                                                   (vi) classify the types of wholesalers;
(vii) discuss the functions of wholesalers;
(viii) outline the merits and demerits of the middleman;                                                                                                                                                                                              (ix) analyse the basic issues in foreign trade;
(x) explain the procedures and documents used in foreign trade;
(xi) identify the barriers to international trade;
(xii) appraise the role of government agencies in foreign trade

5. Purchase and Sale of Goods

Topics:
(i) Procedure and documentation (enquiry, quotation, order, invoice, proforma invoice, statement of accounts, indent, consular invoice, bill of lading, certificate of origin, consignment note, etc)
(ii) Terms of trade (trade discount, quantity discount, cash discount, warranties, C.O.D., C.I.F., F.O.B., and E.O.E. etc)
(iii) Terms of payments
a. Cash – Legal tender
b. Credit
– Types and functions
– Merits and demerits
Objectives: 
Candidates should be able to:
(i) examine the procedures and documents used in the purchase and sale of goods;
(ii) determine the terms of trade;
(iii) distinguish between cash and credit forms of payment;
(iv) identify the types of credit;
(v) analyse the merits and demerits of credit transactions.

Aids-to-trade

Topic:
a. Advertising:
(i) Types and media
(ii) Advantages and disadvantages
b. Banking:
(i) Types of bank
(ii) Services
(iii) Challenges
c. Communication:
(i) Process and procedure
(ii) Types
(iii) Trends
(iv) Merits and demerits
(v) Barriers
d. Insurance:
(i) Types
(ii) Principles
(iii) Terms
(iv) Importance
e. Tourism:
(i) Importance
(ii) Agencies that promote tourism in Nigeria
(iii) Challenges
f. Transportation:
(i) Mode
(ii) Importance
(iii) Advantages and disadvantages
g. Warehousing:
(i) Importance
(ii) Types and functions
(iii) Factors to be considered in siting a warehouse
Objectives: 
Candidates should be able to:
(i) identify the different types of advertising and its media;
(ii) analyse the advantages and disadvantages of advertising;
(iii) categorize the different types of bank;
(iv) assess the services rendered by banks;
(v) identify the challenges facing banks;
(vi) assess the different stages in the communication process;
(vii) analyse the types of communication;
(viii) appraise the contributions of courier services, GSM, etc., to businesses;
(ix) state the merits and demerits of communication;
(x) outline the barriers to communication
(xi) describe the types of insurance;
(xii) apply the principles of insurance to life situations;
(xiii) explain the terms in insurance;
(xiv) state the importance of insurance;
(xv) examine the importance of tourism;
(xvi) identify the agencies that promote tourism in Nigeria;
(xvii) analyse the challenges facing tourism in Nigeria;
(xviii) appraise the relevance of the various
modes of transportation;
(xix) list the importance of transportation;
(xx) discuss the advantages and disadvantages of transportation;
(xxi) highlight the importance of warehousing;
(xxii) appraise the contributions of warehouses to businesses.
(xxiii) evaluate the factors that determine the siting of warehouses

7. Business Units

Topics:
(i) Forms and features (Sole Proprietorship, Partnership, Limited Liability Companies, Public Corporations, Cooperative Societies, etc.)
(ii) Registration of businesses
(iii) Business Mergers
(iv) Determination of choice of business units
(v) Dissolution and liquidation
(vi) Merits and demerits
Objectives: 
Candidates should be able to:
(i) identify the forms and features of business units;
(ii) analyse the procedures for registering businesses;
(iii) appraise the different forms of business mergers and the reasons for merging;
(iv) examine the factors which determine the choice of business units;
(v) differentiate between dissolution and liquidation of business;
(vi) state the merits and demerits of business units.

8. Financing Business

Topics:
(i) Sources of finance (personal savings, sale of shares and bonds, loans, debentures, mortgage, bank overdraft, ploughing back of profit, credit purchase, leasing, etc.)
(ii) Types of capital (share capital, capital owned, authorized (capital, issued capital, called-up capital, paid-up capital, liquid capital, working capital and owners’ equity)
(iii) Calculation of forms of capital, profits (gross and net) and turnover
(iv) Problems of sourcing finance
(v) The role of Bureaux de change in an economy
Objectives:
Candidates should be able to:
(i) identify the various ways of financing a business;
(ii) discuss the different types of capital
(iii) compute the different forms of capital, profits and turnover;
(iv) appraise the problems associated with sourcing finances for business;
(v) assess the role of bureaux de change in an economy.

9. Trade Associations

Topics:
(i) Objectives and functions of trade and manufacturer’s associations (Cocoa Farmers’ Association, Garri Sellers’ Association, Poultry Farmers’ Association, etc.)
(ii) Objectives and functions of Chambers of Commerce.
Objectives:
Candidates should be able to:
(i) discuss the objectives and functions of trade and manufacturer’s associations;
(ii) list the objectives and functions of Chambers of Commerce.

10. Money

Topics:
(i) Evolution
(ii) Forms and qualities
(iii) Functions
Objectives:
Candidates should be able to:
(i) discuss the origin of money;
(ii) analyse the forms and qualities of money;
(iii) appraise the functions of money.

12. Elements of Business Management

Topics:
(i) Functions (planning, organizing, staffing, coordinating, motivating, communicating, controlling etc)
(ii) Principles (span of control, unity of command, delegation of authority, etc)
(iii) Organizational structure (line, line and staff, functional, matrix and committee)
(iv) Functional areas of business (production, marketing, finance and personnel)
(v) Business resources (man, money, materials, machines and opportunities/goodwill)
Objectives:
Candidates should be able to:
(i) discuss the origin of money;
(ii) analyse the forms and qualities of money;
(iii) appraise the functions of money.

11. Stock Exchange

Topics:
(i) Importance and functions
(ii) Types of securities (stocks, shares, bonds, debentures, etc)
(iii) Procedure of transactions and speculations
(iv) Second-Tier Securities Market, (listing requirements, types of companies for the market, advantages and operating regulations of the market.)
Objectives: 
Candidates should be able to:
(i) state the importance and functions of the Stock Exchange;
(ii) identify the different securities traded on the Stock Exchange;
(iii) analyse the procedure of transactions and speculations on the Stock Exchange;
(iv) appraise the advantages and operating regulations of the market.

13. Elements of Marketing

Topics:
(i) Importance and Functions
(ii) The marketing concept (consumer orientation, customer satisfaction, integrated marketing, etc)
(iii) Marketing mix (product, price, place and promotion)
(iv) Market Segmentation
(v) Public relations and Customer Service
Objectives:
Candidates should be able to:
(i) highlight the importance and functions of marketing;
(ii) discuss the marketing concept;
(iii) assess the elements of marketing mix;
(iv) explain market segmentation;
(v) examine public relations and customer service.

14. Legal Aspects of Business

Topics:
(i) Meaning and validity of a simple contract
(ii) Agency, Sale of Goods Act and Hire Purchase Act
(iii) Contract of employment
(iv) Government regulations of business (registration of business, patents, trademarks, copyrights, etc)
(v) Consumer protection (Government legislation, Standards Organization Trade Descriptions Act, Consumer Protection Council, NAFDAC, NDLEA, Customs and Excise, etc.)
(vi) Regulatory agencies.

15. Information and Communication Technology (ICT)

Topics:
a. Computer:
(i) Appreciation and application
(ii) Types and functions
(iii) Merits and demerits
(iv) Challenges
b. Terms (Internet, Intranet, browsing, password, e-mail, google, yahoo, search, Local Area Network, etc.)
c. Activities:
(i) e-commerce
(ii) e-banking
(iii) e-business
Objectives:
Candidates should be able to:
(i) discuss computer appreciation and application;
(ii) enumerate the types and functions of computer;
(iii) analyse the merits and demerits of ICT;
(iv) appraise the challenges of using the computer;
(v) identify the different terms used in ICT;
(vi) evaluate the trends in ICT.

16. Business Environment and Social Responsibility

Topics:
(i) Legal, political, economic, social, cultural, technological environments, etc
(ii) Safe products, philanthropic and societal consideration
(iii) Types and implication of pollution (water, air, land, etc.)
Objectives: 
Candidates should be able to:
(i) discuss the types of business environment;
(ii) assess the role of social environment in the provision of safe products;
(iii) identify the different types of pollution and their implications on businesses.