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NABTEB Financial Accounting Syllabus

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About NABTEB Financial Accounting Syllabus

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Having a copy and reading this NABTEB syllabus for Financial Accounting is a smart way to study.

This syllabus gives you a hint on how your exam questions will look by showing you the full list of topics to study and what you are expected to know from each topic.

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The aim of this exam is to:

i. Provide the candidate with a deeper knowledge of the principles and methods of keeping financial records.

Marking Guide

The exam will consist of just one paper which will last for 3 hours and 30 minutes. It will have two sections; A and B 

Section A: will last for 1 hour and will contain a total of 50 multiple-choice questions. This section will carry 25% of the total marks. 

Section B: will last for 2 hours 30 minutes duration. You will be given 7 questions and asked to answer 5.

This section will carry 75% of the total marks

Financial Accounting Syllabus for NABTEB Exams

i. Distinguish between Book-keeping and Accounts and explain the uses of various books of Account
2ASSETS, LIABILITIES & CAPITALi. Explain assets, liabilities and capital and classify assets into current and fixed assets
3DOUBLE ENTRY BOOK-KEEPINGi. Explain the principles of double entry and classify account into personal and impersonal.
i. Identify and explain various books of prime and secondary entries and post correctly from the books of original entries to the ledger.

ii. Explain the uses of some sales documents.
5THE CASH BOOKi. Explain the columnal cash book

ii. column and

iii. column cash book),

iv. post entries from the cash book to the ledger and determine the closing balance in the cash book.
6THE JOURNALi. Explain Journal, its uses and its correct posting to ledger.
7CONTROL ACCOUNTi. Explain the uses of Control Accounts and solve questions on Financial Control Account.
8IMPREST ACCOUNTi. Describe the general format of a Petty Cash and prepare entries involving petty cash.
i. Give the concept of a trial balance and identify disclosed and undisclosed errors.

ii. Explain the procedure of identifying the disclosed and undisclosed errors by Trial Balance and prepare a Trial Balance from ledger
10SUSPENSE ACCOUNTi. Identify the uses and prepare a typical Suspense Account through solving giving problems.
11ACCOUNTING CONCEPTS AND CONVENTIONi. Explain the concepts and convention in Accounting.
12BANK RECONCILLATION AND STATEMENTi. Explain the terms used in Bank Reconciliation and reasons for Differences in Bank Statement and Cash Book.

ii. Prepare Bank Reconciliation Statement and Cash Book adjustment.
13REVENUE AND CAPITAL EXPENDITUREi. Identify Capital and Revenue expenditure and distinguish between current assets and current liabilities.

ii. Prepare accounts involving Revenue and Capital Expenditure, Current assets and Current liabilities.
14PREPAYMENT AND ACCURED EXPENSESi. Explain Prepayment and Accrued Expenses and treat Prepayment and Accruals in the Books of accounts.
15DEPRECIATIONi. Explain various methods of calculating depreciation and solve problems involving depreciations in the final Account.

ii. Bad and Doubt Debt Explain and treat Bad and Doubtful debt in the books of account.
16FINAL ACCOUNTSi. Prepare simple final account.
17PATNERSHIP TRANSACTIONi. Distinguish between Partnership, Company and Sole Trader.

ii. State the requirements for formation of a partnership.

iii. Prepare the final accounts of partnership business
18BOOK-KEEPING ENTRIES RELATING TO INCOME TAXi. Explain Income Tax and treat the book-keeping entries of tax for the Inland Revenue.
19CONTAINERS ACCOUNTi. Identify types of Containers Account and prepare Containers, Trading and Stock Account
20MANUFACTURING ACCOUNTSi. Prepare Manufacturing Accounts
21SINGLE ENTRY & INCOMPLETE RECORDSi. Distinguish between Single Entry and Incomplete records
22ACCOUNTS OF NON-PROFIT MAKING ORGANIZATIONi. Receipts and payment accounts.

ii. Income and Expenditure accounts.

iii. Subscription in advance and in arrears.

iv. Accumulated Fund.

v. Preparation of Balance Sheet.
23COMPANY ACCOUNTSi. Explain Company Accounts.

ii. Prepare Company accounts
24DEPARTMENTAL & BRANCH ACCOUNTSi. Explain Departmental and Branch Accounts

ii. Prepare Departmental and Branch Account.
25HIRE PURCHASE ACCOUNTSi. Explain Hire Purchase Accounts.

ii. Prepare Hire Purchase Accounts
26CONSIGNMENT ACCOUNTSi. Prepare consignment accounts.
27JOINT VENTURE ACCOUNTSi. Prepare joint venture accounts.
28PUBLIC SECTOR ACCOUNTINGi. Explain the sources of Public Revenue
29INTRODUCTION TO DATA PROCESSINGi. Historical Development of Computer

ii. Basic elements, component, classification and functions of a Computer

iii. Basic terminologies of a computer

iv. Computer application in an Accounting environment

Recommended NABTEB Financial Accounting Textbooks

1. Business Accounting Volume 1 – West African Edition by Frank Wood and Omunya.

2. Business Accounting Volume 2 – Frank Wood.

3. Accounting and Finance – Frank Wood.

4. Foundation Accounting – A. H. Millchamp.

5. Basic Accounting – J. D. Magee.

6. Accounting for Senior Secondary School – S. C. Malhorta, P. K. Botchweyand, P. A. Amankwah.

7. Accounting in Business – R. J. Bull.

8. Company Accounts – J. N. Amorin.

9. Principles of Accounting – K. B. Appiah Mensah

10. Incorporated Private Partnership Act 1962, Act 152


What is the most important thing to remember when taking the NABTEB Financial Accounting exam?

The most important thing is for you to read and understand each question before you start writing your answer.

Watch out for the instructions as well.

Is there any particular section of the exam that I should focus on more than others?

The theory section usually carries more marks than the other section, so make sure you give yourself enough time to answer all the questions in this section.

Do I need to memorize a lot of information for the exam?

Instead of reading to memorize, reading to understand. That way you can be able to explain things in your own words and the official marking your scripts will know that you truly understand the subject.

How long should I spend on each question?

As a general rule, you should spend no more than 2 minutes on each question in the objective section and 5 minutes on the theory. However, it’s important to keep an eye on the clock and make sure you’re spending an appropriate amount of time on each question. You don’t want to rush through and make careless mistakes!

What if I run out of time during the exam?

If you’re running out of time, don’t panic! Try to finish as many questions as possible and make sure your answers are as complete as possible.

What happens if I don't understand a question?

If you’re unsure about a question, skip it and move on to other questions you understand and can answer. Then come back to those you don’t understand and think about it some more. Don’t spend too much time on a question that is confusing you. It’s better to focus on questions that you are more confident about.

Can I use a calculator during the exam?

Yes, you will be allowed to use a calculator.

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