Preparing for the Unified Tertiary Matriculation Examination (UTME) can be a daunting task, but having a structured study plan is crucial for achieving a high score.
One essential resource for studying Principles of Accounts is the Joint Admissions and Matriculation Board (JAMB) Syllabus.
This syllabus outlines the topics to cover and provides specific objectives to guide your learning.
About JAMB Syllabus for Principles of Accounts 2024/2025
In this blog post, we will provide a simplified overview of the JAMB Principles of Accounts syllabus, highlighting the topics and objectives to help you effectively prepare for the UTME exam.
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Accounts of Not-For-Profit-Making Organizations
- Objectives: Understand the features of Not-for-profit-making organizations, compute cash balances and accumulated funds, and prepare receipts and payments account, income and expenditure account, and statement of financial position.
- Topics: Objectives of Not-For-Profit-Making organizations, receipts and payments account, income and expenditure account, statement of financial position.
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Book Transactions and Reconciliation Statements
- Objectives: Familiarize yourself with various bank documents and their uses, assess the impact of electronic banking systems, identify factors causing discrepancies between cashbook and bank statements, and prepare adjusted cash book balance and bank reconciliation statements.
- Topics: Instrument of bank transactions, e-banking system, causes of discrepancies between cashbook and bank statement, bank reconciliation statement.
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Branch Accounts
- Objectives: Understand the reasons for maintaining branch accounts, calculate profits and losses from branches, and reconcile differences between branch and head office books.
- Topics: Objectives, branch accounts in the head office books, head office account, reconciliation of branch and head office books.
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Cashbook
- Objectives: Determine the cash float, differentiate between two and three-columnar cashbooks, analyze trade and cash discounts, and identify various petty cash expenses.
- Topics: Columnar cashbooks, discounts, petty cashbooks, and the imprest system.
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Control Accounts and Self-Balancing Ledgers
- Objectives: Recognize the importance of control accounts, differentiate between sales ledger control accounts and purchases ledger control accounts, and prepare control accounts.
- Topics: Importance of control accounts, purchases ledger control account, sales ledger control account.
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Departmental Account
- Objectives: Identify the reasons for departmental accounts, determine departmental expenses, and calculate departmental profits or losses.
- Topics: Objectives, apportionment of expenses, departmental trading and profit and loss account.
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Ethics in Accounting
- Objectives: Understand the ethical considerations in preparing and presenting accounting reports, and recognize the qualities of an Accountant, such as honesty, integrity, transparency, accountability, and fairness.
- Topics: Objectives, qualities of an Accountant.
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Incomplete Records and Single Entry
- Objectives: Learn methods to determine proprietor’s capital, convert single entry to double entry, and use accounting equations and gross profit percentage to determine missing figures.
- Topics: Conversion of single entry to double entry, determination of missing figures, preparation of final accounts from incomplete records.
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Information Technology in Accounting
- Objectives: Compare manual and computerized accounting processing systems, understand data processing, and identify the advantages and disadvantages of each system.
- Topics: Manual and computerized accounting processing systems, processes involved in data processing, computer hardware and software, advantages and disadvantages.
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Introduction to Company Accounts
- Objectives: Differentiate between types of companies, understand processes and procedures of recording shares and debentures, compute elements of final accounts, and interpret accounts using ratios.
- Topics: 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.
Note: Due to the length of the syllabus, the remaining topics will be summarized briefly.
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Joint Venture Accounts
- Objectives: Identify objectives of Joint Venture, determine the profit or loss of the Joint Venture and each venture.
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Manufacturing Accounts
- Objectives: Calculate different costs and apportionments in manufacturing accounts.
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Nature and Significance of Accounting
- Objectives: Differentiate between bookkeeping and accounting, apply principles and concepts, and understand the role of accounting records in decision making.
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Partnership Accounts
- Objectives: Determine partnership formation, calculate profits or losses, prepare accounts for admission/retirement, and understand dissolution and conversion to a company.
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Principles of Double Entry
- Objectives: Understand source documents, books of original entry, ledger classification, trial balance, types of errors, and suspense accounts.
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Public Sector Accounting
- Objectives: Differentiate between public and private sector accounting, understand government revenue, expenditure, responsibilities, and instruments of financial regulation.
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Stock Valuation
- Objectives: Determine cost and closing stock using different valuation methods, and understand the advantages and disadvantages of each method.
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The Final Accounts of a Sole Trader
- Objectives: Determine various financial elements, compute adjustable items, and understand the treatment of bad debts and provisions.
FAQs
What topics are covered in the JAMB Syllabus for Principles of Accounts 2024/2025?
The JAMB Syllabus for Principles of Accounts includes a range of topics such as the fundamentals of accounting, the accounting equation, types of accounts (real, personal, and nominal), journal entries, ledgers, trial balances, and financial statements (income statement and balance sheet). It also covers topics on accounting concepts, principles, and the roles of accountants in business.
How can I access the JAMB Syllabus for Principles of Accounts?
The JAMB Syllabus for Principles of Accounts can be accessed through the official JAMB website or the JAMB e-learning platform. It is advisable for candidates to download and print the syllabus for easy reference during their studies. Additionally, many educational resources and institutions provide the syllabus on their platforms for student access.
How important is the JAMB Syllabus for preparing for the exam?
The JAMB Syllabus is crucial for exam preparation as it outlines the specific topics and areas that candidates are expected to study. Following the syllabus ensures that students focus their efforts on relevant content, helping them to effectively prepare for the examination. It also aids in identifying key concepts that are frequently tested, improving the chances of success in the JAMB exam.
Conclusion
Studying the JAMB Principles of Accounts syllabus is a crucial step towards achieving success in the UTME exam.
By familiarizing yourself with the topics and objectives outlined in the syllabus, you can structure your study plan effectively and focus on areas that require more attention.
Remember to practice solving accounting problems and review past exam questions to enhance your understanding and improve your exam performance.
Good luck with your preparations! If you have any questions or need further clarification, feel free to leave a comment below.
