This is to inform all JAMB candidates offering Principles of Accounts that the new Syllabus for 2021/2022 Jamb exam is out. Candidates can download or view the pdf format here.

The Unified Tertiary Matriculation Examination syllabus for Principles of Accounts is designed to prepare the candidates for the Board’s examination.

The following are what the students are expected to achieve through this syllabus:

1. Make research on the course
2. Search for the O’level requirement of the course
3. Then Lastly, make research on Jamb Subject combination of the course if Principles of Accounts subject is among then you are good to go.

Jamb Principles of Accounts Syllabus 2021/2022 General Objective

The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Principles of
Accounts is to prepare the candidates for the Board’s examination. It is designed to test their achievement of the course objectives, which are to:

1. Stimulate and sustain their interest in Principles of Accounts;
2. Use the basic knowledge of and practical skills in Accounting;
3. Apply the knowledge of interpretation of accounting information to decision making;
4. Determine the relevance of accounting to business and governments;
5. Use information and communication technology for present and future challenges.

1. Nature and Significance of Accounting JAMB 2021/2022 Principles of Accounts Syllabus

1. Development of accounting (including branches of accounting)
   b. Objectives of book keeping and accounting;
   c. Principles, concepts and conventions of accounting (nature, significance and
   application)
   d. Role of accounting records and information

2. Principles of Double Entry JAMB 2021/2022 Principles of Accounts Syllabus

1. Functions of source documents
   b. Books of original entry
   c. Accounting equation
   d. The ledger and its classifications
   e. Trial balance
   f. Types and treatment of errors and use of suspense account

3. Cash Book

1. Petty cash book and the imprest system
   b. Columnar cash books
   c. Discounts

4. Bank Transactions and Reconciliation Statements

1. Instrument of bank transactions
   b. e-banking system
   c. Courses of discrepancies between cash book and bank statement
   d. Bank reconciliation statement

5. The Final Accounts of a Sole Trader JAMB 2021/2022 Principles of Accounts Syllabus

1. Trading and profit and loss account
   b. Balance sheet
   c. Adjustments:
2. provision for bad and doubtful debt
   ii. provision for discounts
   iii. provision for depreciation using straightline and reducing balance methods
   iv. accruals and prepayments
   v. drawings

6. Stock Valuation JAMB 2021/2022 Principles of Accounts Syllabus

1. Methods of cost determination using FIFO, LIFO and simple average
   b. The advantages and disadvantages of the methods
   c. The importance of stock valuation

7. Control Accounts and Self-balancing Ledgers JAMB 2021/2022 Principles of Accounts Syllabus

1. Uses of control accounts
   b. Purchases ledger control account
   c. Sales ledger control account

8. Incomplete Records and Single Entry JAMB 2021/2021 Principles of Accounts Syllabus

1. Conversion of single entry to double entry
   b. Determination of missing figures
   c. Preparation of final accounts from incomplete records

9. Manufacturing Accounts JAMB 2021/2022 Principles of Accounts Syllabus

1. Cost classification
   b. Cost apportionment
   c. Preparation of manufacturing account

10. Accounts of Not-For-Profit-Making Organizations. JAMB 2021/2022 Principles of Accounts Syllabus

1. Objectives of not-for-profit making organizations
   b. Receipts and payments account
   c. Income and expenditure account
   d. Balance sheet

11. Departmental Accounts JAMB 2021/2022 Principles of Accounts Syllabus

1. Objectives
   b. Apportionment of expenses
   c. Departmental trading and profit and loss account

12. Branch Accounts JAMB 2021/2022 Principles of Accounts Syllabus

1. Objectives
   b. Branch accounts in the head office books
   c. Head office account
   d. Reconciliation of branch and head office books

13. Partnership Accounts JAMB 2021/2022 Principles of Accounts Syllabus

1. Formation of partnership
   b. Profit and loss account
   c. Appropriation account
   d. Partners current and capital accounts
   e. Treatment of goodwill
   f. Admission/retirement of a partner
   g. Dissolution of partnership
   h. Conversion of a partnership to a company

14. Introduction to Company Accounts

1. Formation and classification of companies
   b. Issue of shares and debentures
   c. Forms of final accounts of companies
   d. Interpretation of accounts using ratios.
   e. Distinction between capital and revenue reserves

15. Public Sector Accounting JAMB 2021/2022 Principles of Accounts Syllabus

1. Comparison of cash and accrual basis of accounting
   b. Sources of government revenue
   c. Capital and recurrent expenditure
   d. Consolidated revenue fund
   e. Statement of assets and liabilities
   f. Responsibilities and powers of:

1. The Accountant General
   ii. The Auditor General
   i. The Minister of Finance
   ii. The Treasurer of local government
2. Instruments of financial regulation

Jamb Principle Of Accounts Syllabus Recommended Textbook

• Adeifa O. Ajileye, J. O and Oluwasanna, R. O (2001). Get your Financial Accounting Right. Book One: Oyo, Tenlad Press International.
• Ajileye, J. O. and Adetifa O. (2001). Get your Financial Accounting Right, Book Two: Lagos: De Hadey Printing Services
• Akinduko, A. O (2001). Basic Accounting: Akure: Spetins
• Anao, A. R (1993). An Introduction to Financial Accounting, Lagos: Longman
• Awoyemi, E. O. (1989). A guide to Government Accounting and Internal Audit, Ibadan: Onibonje Press
• Dodge, R. (2002). Foundation of Business Accounting, (Second Edition), Bershire: Chapman and Hall
• Ekwere, A. B. (1997). Contemporary Accounting, Abuja: Aflon Finance (Control and Management) Act 1959
• Frank, W. and Omuya, J. O. (1988). Book keeping and Accounting for Senior Secondary Schools, Vols. 1 & 2 London: Pitman
• Hassan M. M. (2001). Government Accounting, Lagos: Malthouse Press Limited
• Igben, R. O. (2004). Financial Accounting Made Simple (Vol. I) Lagos: Roi Publishers
• Longe, O. A. and Kazeem, R. A (2006). Essential Financial Accounting for Senior Secondary Schools: Lagos: Tonad Publishers Limited
• Millichamp, A. H. (1989). Foundation Accounting: An Introduction manual for Accounting Students, London: DP Publications
• Okwoli, A. A. (1995). Financial Accounting, Zaria: Tamaza Publishers
• Oshisami, K. (1997). Government Accounting and Financial Control: Ibadan: Spectrum