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JAMB Principles of Accounting · Section 2

Accounts of Not-for-Profit-Making Organizations

Section B: Stock, Control and Specialised Accounts

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Objectives
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Section topics
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Syllabus content and objectives

Official JAMB Principles of Accounting outline · Section B: Stock, Control and Specialised Accounts

Contents / notes

  • Objectives
  • Receipts and payments account
  • Income and expenditure account
  • Statement of financial position

Candidate objectives

  • Distinguish between profit-oriented and not-for-profit-making organizations.
  • Determine annual subscription, subscription in arrears and subscription in advance.
  • Compute cash balances, accumulated funds, surplus or deficit for the period.
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