Learn/WAEC WASSCE/Syllabus/AccountsStudy this course in LearnPractice opens in your WAEC WASSCE workspace after you sign in. Questions and lecture notes stay there.Practice this courseOpen lecture notesOfficial rules, eligibility, and dates stay on the WAEC WASSCE guide.course outlineIntroduction to Financial AccountingHistory, nature and functions of AccountingUsers of Accounting informationStages in the Accounting processCharacteristics of Accounting informationThe Accounting Equation and Double Entry PrinciplesAccounting EquationPurpose and functions of source documentsSubsidiary booksThe ledger: classification of AccountsCash Book: analytical cash book, including petty cash bookPreparation of Trial BalanceBank Reconciliation StatementsCorrection of errors and Suspense AccountAccounting ConceptsMeaningTypesSignificanceLimitationsThe Final Accounts of a Sole Trader/proprietorshipTrading, profit and loss accounts/Income statementBalance sheet/statement of financial positionAdjustments to final accountsProvisions and ReservesProvision for doubtful debts/Allowance for doubtful debtsProvision for discountsDepreciation - Concepts and Reasons for RecordingDepreciation - Straight Line MethodDepreciation - Reducing Balance MethodDepreciation - Sum of the Years Digits MethodDepreciation - Revaluation MethodAccounting for depreciationReserves - revenue and capital reservesManufacturing AccountsPurpose of Manufacturing AccountsCost classification in Manufacturing AccountsPreparation of final Accounts of Manufacturing concernControl Accounts and Self-balancing LedgersMeaning and uses of control accountsControl Accounts - Sales Ledger ControlControl Accounts - Purchases Ledger ControlPreparation of Control AccountsReconciliation of Control AccountsSingle Entry and Incomplete RecordsMeaning and limitationsComputation of profit or loss from opening and closing balance sheetsConversion of single entry to double entryPreparation of final accounts from a set of incomplete recordsMark up and MarginAccounts of Not-for-Profit Making OrganizationsMeaning and terminologiesReceipts and payments accountsSubscriptions AccountIncome and expenditure accountsAccumulated fundBalance sheetProfit or loss from income generating activitiesPartnership AccountsNature and formation of partnershipPartnership agreements/DeedProfit and loss appropriation accountsPartners capital account and balance sheetAdmission of a new partnerTreatment of goodwill and revaluation of assetsDissolution of partnershipCompany AccountsNature and formation of a companyTypes of companies and sharesIssue of sharesLoan capital, debentures/loan notes and mortgagesFinal accounts of company for internal use onlyInterpretation of accounts using simple ratiosPurchase of business accountStatement of Cash Flow (using direct and indirect methods)Accounting for Value Added TaxPurpose of VATCharacteristics of VATBases of computing input/output VATPreparation of VAT returnsExempt goods and servicesDepartmental and Branch AccountsMeaning and importanceDifferences between a department and branchPreparation of departmental accountPreparation of Branch Account excluding foreign branchesInter branch transactionsPublic Sector AccountingMeaning and difference between Public Sector and Private Sector AccountsSources of public revenueCapital and recurrent expendituresPreparation of simple government accountsInformation Technology in AccountingManual and computerized Accounting Processing SystemsProcesses involved in data processingComputer Hardware and SoftwareMerits and demerits of manual and computerized accounting processing systemsMiscellaneous AccountsJoint Venture AccountsConsignment AccountsContract AccountsHire Purchase AccountsFinancial systemMeaning and componentsMoney Market - Meaning, Functions, and FeaturesCapital Market - Meaning, Functions, and FeaturesInsurance Market - Meaning, Functions, and FeaturesCapital Market - Offer for SaleCapital Market - Offer for SubscriptionCapital Market - Rights IssueCapital Market - Private PlacementRequirements for accessing the capital marketCapital Market Benefits - InvestorsCapital Market Benefits - GovernmentCapital Market Benefits - EconomyCapital Market Benefits - Individual CompanyTypes, features and reasons for regulation
