Every objective and theory question in this paper, and the topic notes to revise each one.
| No. | Section | Marks | Covers |
|---|---|---|---|
| Q1 | 8 | Asks you to explain the difference between the roles of a bookkeeper and an accountant in the accounting process. | |
| Q2 | 20 | From the previous syllabus. Asks you to explain briefly seven concepts: going concern, consistency, accrual, fair pre... | |
| Q3 | 12 | From the previous syllabus. Asks you to identify and discuss the four measurement bases for the elements of financial... | |
| Q4 | 8 | Asks for a description of each cost element of PPE under IAS 16 and the conditions for capitalising them. | |
| Q5 | 12 | From the previous syllabus. Asks you to state and explain the relationships among the main components of financial st... | |
| Q6 | Asks for the profit or loss appropriation account, the partners’ current and capital accounts and a statement of fina... |
From the previous syllabus. Asks for the primary roles of accountants in business and the economy.
From the previous syllabus. Question 2 asks for the purpose of a chart of accounts. Question 11 asks for the primary purpose of the general journal.
Question 3 of May 2024 asks which statement differentiates bad debt from doubtful debt. Question 3 of November 2023 asks for the general allowance in the statement of profit or loss.
Asks which items belong to disposals, the gain or loss on an old car, what is not an IAS 16 disclosure, and the state of the asset account after a disposal.
Asks what is true of goodwill, the journal for the amount due to a retired partner who is not paid immediately in cash, and which events lead to a change in a partnership agreement.
Asks for the closing inventory under FIFO and the cost per unit under weighted average from opening inventory of 250 units, purchases of 750 units and an issue of 500 units.
From the previous syllabus. Asks the entry when a sole trader takes goods for personal use, the basic features of the single-entry system, and the best description of incomplete records.
Question 14 of May 2023 asks for the cost of sales from a 10% mark-up. Question 7 of May 2024 asks how much inventory the owner withdrew. Question 15 of November 2023 asks for the accounting equation after the owner takes cash and inventory.
Asks for the cash paid for wages and salaries from accrued wages at the start and end and the wages expense.
Asks you to explain the difference between the roles of a bookkeeper and an accountant in the accounting process.
Asks you to explain the various types of accounting and their roles in providing information to different users.
From the previous syllabus. Asks you to explain briefly seven concepts: going concern, consistency, accrual, fair presentation, substance over form, prudence and materiality.
From the previous syllabus. Asks you to identify and discuss the four measurement bases for the elements of financial statements in the Conceptual Framework.
From the previous syllabus. Asks you to state three types of errors the trial balance can reveal and to explain two of them. The rest of the question covers journal entries and the suspense account.
From the previous syllabus. A trial balance with a debit excess of ₦863,000 and fourteen errors. Asks for the correcting journals (7 marks) and the suspense account (8 marks).
From the previous syllabus. Asks for the suspense account for a debit excess of ₦863,000.
Asks for a description of each cost element of PPE under IAS 16 and the conditions for capitalising them.
From the previous syllabus. Asks you to state and explain the relationships among the main components of financial statements.
Asks you to state and explain the relationships among the main components of financial statements.
Asks you to explain the distinction between accounting policies and accounting estimates under IAS 8.
Asks for the profit or loss appropriation account, the partners’ current and capital accounts and a statement of financial position extract, and, in the later question, how profit is shared between partners, the partners’ initial capital and the capital and current accounts.