Learn/NABTEB/Syllabus/Financial AccountingStudy this course in LearnPractice opens in your NABTEB workspace after you sign in. Questions and lecture notes stay there.Practice this courseOpen lecture notesOfficial rules, eligibility, and dates stay on the NABTEB guide.course outlineThe origin of Book-keeping and Accounts, concepts and Difference between Book-Keeping and accounts.This module covers the meaning, origin, and importance of book-keeping and accounts, differentiating between book-keeping and accounts, and exploring various books of accounts and their uses.It also prompts reflection on accounting professional bodies in Nigeria and practical preparation of books of original entry and problem-solving on cash books and journals.The teacher ensures trainees are familiar with books of original entries.Students are expected to distinguish between Book-keeping and Accounts and explain the uses of various books of Accounts.They will also prepare various books of original entry and solve problems on cash book, journal and other subsidiary books.Assets, Liabilities and CapitalStudents will learn to differentiate between these core accounting elements and classify assets into current and fixed categories.Practical activities include providing examples of assets and liabilities on a chart.Double Entry BookkeepingThis module introduces the fundamental principles of double-entry bookkeeping and the classification of accounts into personal and impersonal categories.It emphasizes practical application through extensive exercises on posting transactions to ledgers and illustrating account classifications with charts.Students will practice exercises on posting transactions to ledgers and chart items under each class of accounts.Books of Original and Secondary EntriesIt also details the uses of sales documents like invoices, delivery notes, credit notes, and debit notes.Activities include listing books of original entry, practicing ledger posting, sketching and filling sales documents, and emphasizing independent practice.The Cash BookIt covers posting entries from the cash book to the ledger and determining closing balances.Practical activities involve preparing cash book formats, solving numerous exercises, and familiarizing trainees with the layout of columnal cash books.The JournalThis module explains the meaning and uses of the journal, including its application in recording credit purchases of fixed assets, correction and adjustment of errors, opening entries, and transfer…It emphasizes the correct layout, working examples, and the importance of the debit entry being made first, the narration, and that not all transactions are journalized.Control AccountThis module defines and explains the uses of control accounts, covering types like Sales/Debtors and Purchases/Creditors control accounts, and their preparation.Activities include providing examples and working exercises, with a focus on how control accounts determine credit purchases and debtor balances.Students will solve questions on Financial Control Account.Imprest AccountThis module describes the general format and method of keeping imprest accounts, focusing on the preparation of petty cash books and making entries.It also clarifies the difference between a petty cash book and a ledger.Activities include using a specimen petty cash book for illustration, working exercises, and completing assignments.Trial BalanceThis module covers the concept and uses of a trial balance, the procedure for identifying disclosed and undisclosed errors, and preparing a trial balance from ledgers.It addresses errors when the trial balance balances and when it does not, outlining steps to follow if it does not balance.Activities include using specimens for illustration, working examples and exercises, teaching proper heading and layout, and preparing trial balances with teacher guidance.Suspense AccountIt covers the meaning and illustration of a suspense account and its reconciliation.The teacher will emphasize the use of suspense accounts in balancing the trial balance, and students will work through examples and exercises.Accounting Concepts and ConventionsStudents will list and name various accounting concepts.Activities include listing and naming the accounting concepts.Bank Reconciliation StatementIt covers preparing bank reconciliation statements and cash book adjustments, including understanding unpresented checks, uncredited checks, standing orders, bank charges, dividends, dishonored…Activities involve using bank statement specimens, learning two ways to present reconciliation statements, practicing reading and interpreting bank statements, and working through examples and…Revenue and Capital ExpenditureIt also covers the distinction between current assets and current liabilities, fixed assets, and long-term liabilities and their accounting treatment.Activities include working examples and exercises, and completing assignments.Prepayment and Accrued ExpensesIt covers the reasons for their treatment in final accounts and provides examples such as rates, rent, premium, and subscription in arrears or in advance.Activities include working examples and exercises, and completing assignments.Depreciation and Bad and Doubtful DebtsThis module covers the concept and calculation methods of depreciation (e.g., straight line, revaluation) and its treatment in final accounts.It also addresses bad and doubtful debts, their adjustment, and treatment in final accounts.Activities include working examples and assignments, with a focus on bad debts written off in the profit and loss account.Final AccountIt emphasizes the importance of financial statements in reflecting the owner's equity status.Activities include working examples on terminologies, understanding proper headings for the Trading Account, and preparing both Trading and Profit and Loss Accounts.Partnership TransactionThis module differentiates between partnership, company, and sole trader structures, outlines partnership formation requirements, and details the preparation of final accounts for partnership…It covers the meaning, formation, dissolution, and types of partners, distinguishing partnerships from sole traders.Activities include understanding gross profit/loss, identifying profit and loss items, preparing Profit and Loss Accounts and Balance Sheets, showing financial position, and listing local…Book-Keeping Entries Relating to Income taxThis module explains income tax, its purpose, and the basis of tax assessment, including PAYE charts and methods of transferring tax payments.It covers book-keeping entries for tax deducted and handed over to Inland Revenue, agencies involved, and tax structures in Nigeria.Activities include visiting tax offices, studying tax forms, working exercises, and inviting tax officers to the school.Containers AccountThis module identifies types of containers accounts and details the preparation of Containers, Trading, and Stock Accounts, including goods sold on approval.Activities include working examples of containers accounts, visiting trading stores, and recording prices of goods.Manufacturing AccountThis module focuses on the preparation of simple manufacturing or production accounts, showing classifications like prime cost and overhead cost, and the final accounts of manufacturing concerns.Activities include working through examples.Single Entry and Incomplete RecordsThis module distinguishes between single entry and incomplete records, covering their meaning, nature, computation of profit from two balance sheets, and the preparation of final accounts from…Activities include working examples and assignments.Accounts of Non-Profit Making OrganisationThis module covers receipts and payment accounts, income and expenditure accounts, subscription in advance and in arrears, accumulated funds, and the preparation of balance sheets for non-profit…Activities include listing local non-profit organizations, working examples, and assignments.Company AccountsThis module explains company accounts, covering formation requirements, issue and redemption of shares (par and no-par value).Activities include working examples on company account terminologies and visiting partnership stores and limited liability companies.Departmental and Branch AccountsIt covers departmental profit calculation, inter-branch transactions (excluding foreign branches), and the relationship between head office and branch accounts.Activities include working examples and assignments.Hire Purchase AccountsThis module explains hire purchase accounts and the process of making entries in the books of the hirer.Activities include working examples and assignments.Consignment AccountsThis module covers the preparation of consignment accounts, including meaning, terminologies, accounting treatments in the books of the consignor, preparation of the consignee's account, and account…Activities include providing examples of consignment terminologies, working examples, and assignments.Joint Venture AccountsThis module focuses on the preparation of joint venture accounts, including their meaning, purpose, joint venture account, and memorandum account.Activities include assignments.Public Sector AccountingThis module explains the sources of public revenue and covers capital and concurrent expenditure, along with simple government accounting procedures.Activities include working examples and visits to the Inland Revenue.Introduction to Data ProcessingIt also explores computer applications in an accounting environment.Activities include visiting computer centers and operating computers.
