WAEC Financial Accounts Syllabus
Every section, topic and candidate objective in the official WAEC Financial Accounts outline — 1 sections, 4 topics and 4 objectives.
- Sections
- 1sections
- Topics
- 4topics
- Objectives
- 4objectives
- Category
- Commercialcategory
Syllabus sections
1 sectionTap a section to open it, then tap a topic to see its content and objectives.
1Detailed Syllabus
4 topics · 4 objectives
1Introduction to Financial Accounting and Double Entry System
1 content item · 1 objective
Content
1.1 - 2.8 History, accounting process, source documents, subsidiary books, ledgers, cash books, trial balance, bank reconciliation, suspense accounts
Objective
Understand accounting nature, users, and qualitative characteristics; apply accounting equations and double entry principles; post source documents to prime entry books and ledgers; prepare single/double/three-column cash books, petty cash books, and Trial Balances; prepare Bank Reconciliation Statements and correct errors via Suspense Accounts.
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2Accounting Concepts, Sole Trader Final Accounts, Provisions, Reserves, and Manufacturing Accounts
1 content item · 1 objective
Content
3.1 - 6.3 Accounting concepts, Trading/P&L/Balance Sheet adjustments, provisions for bad debts, depreciation methods, reserves, manufacturing accounts
Objective
Identify accounting concepts and limitations; prepare sole proprietor Trading, Profit & Loss Accounts, and Balance Sheets with adjustments (accruals, prepayments); calculate bad debt provisions and depreciation (straight line, reducing balance, sum of digits, revaluation); prepare Manufacturing Accounts classifying prime cost, factory overheads, and work-in-progress.
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3Control Accounts, Incomplete Records, Not-For-Profit Accounts, Partnership, Company, VAT, and Departmental/Branch Accounts
1 content item · 1 objective
Content
7.1 - 13.5 Control ledgers, single entry conversion, non-profit accounts, partnership final accounts/goodwill, company share issue/ratios/cash flow, VAT returns, branch accounting
Objective
Prepare Sales and Purchases Ledger Control Accounts; convert incomplete records using markup/margin to final accounts; prepare Receipts/Payments, Income & Expenditure Accounts, and Accumulated Funds; account for partnership appropriation, capital/current accounts, partner admission, goodwill, and dissolution; prepare company accounts, financial ratios, and Cash Flow Statements; compute Input/Output VAT returns; prepare Departmental and Branch Accounts.
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4Public Sector Accounting, IT in Accounting, Miscellaneous Accounts, and Financial System
1 content item · 1 objective
Content
14.1 - 17.6 Public sector revenue/expenditure, computerized accounting systems, Joint Venture, Consignment, Contract, Hire Purchase, money/capital markets
Objective
Distinguish public and private sector accounting and prepare simple government accounts; compare manual and computerized accounting systems; prepare Joint Venture, Consignment, Contract, and Hire Purchase Accounts; analyze money/capital markets, share offer methods, capital market regulations, and investor benefits.
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