CBT-Practice

WAEC Financial Accounts · Section 1

Control Accounts, Incomplete Records, Not-For-Profit Accounts, Partnership, Company, VAT, and Departmental/Branch Accounts

Detailed Syllabus

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Syllabus content and objectives

Official WAEC Financial Accounts outline · Detailed Syllabus

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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