JAMB › Practice › Principles of Accounts
🧾 Principles of Accounts
📘 Principles of Accounts study notes for every topic ›
Log in to start a drill.
Nature and significance of bookkeeping
purpose · users of accounting information
0 questions ready · more are written on demand · 📘 Study note
Principles of double entry
debits and credits · the accounting equation
0 questions ready · more are written on demand · 📘 Study note
Source documents
invoices, receipts, credit notes and others
0 questions ready · more are written on demand · 📘 Study note
Books of original entry
sales, purchases, returns day books and journal
0 questions ready · more are written on demand · 📘 Study note
The ledger
classification of accounts · posting and balancing
0 questions ready · more are written on demand · 📘 Study note
Cash book
two- and three-column cash books · discounts
0 questions ready · more are written on demand · 📘 Study note
Petty cash book
imprest system
0 questions ready · more are written on demand · 📘 Study note
Bank reconciliation statement
causes of differences · preparing a reconciliation
0 questions ready · more are written on demand · 📘 Study note
Trial balance and correction of errors
errors not revealed · suspense account
0 questions ready · more are written on demand · 📘 Study note
Final accounts of a sole trader
trading, profit and loss account · balance sheet
0 questions ready · more are written on demand · 📘 Study note
Adjustments
accruals, prepayments and provisions
0 questions ready · more are written on demand · 📘 Study note
Depreciation
straight-line and reducing-balance methods · disposal of assets
0 questions ready · more are written on demand · 📘 Study note
Bad debts and provisions for doubtful debts
treatment in accounts
0 questions ready · more are written on demand · 📘 Study note
Control accounts
sales and purchases ledger control accounts
0 questions ready · more are written on demand · 📘 Study note
Incomplete records
statement of affairs · deriving profit from incomplete records
0 questions ready · more are written on demand · 📘 Study note
Stock valuation
FIFO, LIFO and weighted average
0 questions ready · more are written on demand · 📘 Study note
Manufacturing accounts
prime cost · cost of production
0 questions ready · more are written on demand · 📘 Study note
Partnership accounts
appropriation account · current and capital accounts · admission and retirement
0 questions ready · more are written on demand · 📘 Study note
Company accounts
share capital · reserves · published accounts
0 questions ready · more are written on demand · 📘 Study note
Not-for-profit organisations
receipts and payments · income and expenditure account
0 questions ready · more are written on demand · 📘 Study note
Departmental and branch accounts
basic principles
0 questions ready · more are written on demand · 📘 Study note
Public sector accounting
sources of government revenue · capital and recurrent expenditure
0 questions ready · more are written on demand · 📘 Study note
Interpretation of accounts
ratios for profitability, liquidity and efficiency
0 questions ready · more are written on demand · 📘 Study note
ⓘ Practice questions written by Sabipage AI from the JAMB syllabus. Not official JAMB questions.