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JAMB Principles of Accounting Syllabus 2026/2027
Complete official UTME Principles of Accounting syllabus — all topics, sub-topics and JAMB learning objectives. Study what actually comes out, nothing extra.
18
Topics
60
Questions
JAMB Principles of Accounting Syllabus PDF
Official JAMB document • Free download
A · Foundations of Accounting
B · Cash, Banking and Reconciliation
C · Final Accounts and Adjustments
D · Specialised Accounts
E · Partnership and Company Accounts
F · Public Sector Accounting and Technology
Section A
A
Foundations of Accounting
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1. Nature and Significance of Book Keeping and Accounting
- Development of Accounting (including branches of accounting)
- Objectives of Book Keeping and Accounting
- Users and characteristics of Accounting information
- Principles, concepts and conventions of Accounting (nature, significance and application)
- Role of Accounting records and information
- Career opportunities in Book Keeping and Accounting
What JAMB expects you to do:
- Differentiate between Book Keeping and Accounting
- Understand the historical background of Book Keeping and Accounting
- Apply the right principles, concepts and conventions to solving Accounting problems
- Understand the role of Accounting information in decision making
- Identify the types/branches of Accounting such as Cost Accounting, Management Accounting, Auditing, Financial Accounting, Forensic Accounting, Social and Environmental Accounting, Government Accounting and Taxation
- Identify the different career opportunities in Book Keeping and Accounting
2. Principles of Double Entry
- Source documents
- Books of original entry
- Accounting equation
- Ledger and its classifications
- Trial balance
- Types and correction of errors
- Suspense Account
What JAMB expects you to do:
- Identify various source documents and their uses
- Relate source documents to the various books of original entry
- Determine the effect of changes in elements of Accounting equation
- Understand the role of double entry principles in treating financial transactions
- Extract a trial balance from ledger accounts
- Identify various types of errors and their corrections
- Correct errors using suspense account
3. Ethics, Professional and Regulatory Bodies in Accounting
- Objectives of professional and regulatory bodies
- Qualities of an Accountant
- Accounting professional bodies in Nigeria
- Accounting regulatory bodies (FRCN, CAC, IASB)
What JAMB expects you to do:
- Understand the ethics required in preparing and presenting Accounting information
- Understand qualities of an Accountant such as honesty, integrity, transparency, accountability and fairness
- Understand the purpose and functions of Accounting professional bodies in Nigeria
- Understand the purpose and functions of Accounting regulatory bodies in Nigeria e.g. Financial Reporting Council of Nigeria (FRCN), Corporate Affairs Commission (CAC) and International Accounting Standard Board (IASB)
Section B
B
Cash, Banking and Reconciliation
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4. Cash Book
- Columnar Cash Books: single column, double column, three column
- Discounts (trade and cash)
- Petty Cash Book and imprest system
What JAMB expects you to do:
- Determine the cash float
- Differentiate between two and three columnar cash books and how transactions are recorded in them
- Differentiate between trade and cash discounts
- Examine the effects of trade and cash discounts in the books of accounts
- Identify various petty cash expenses
5. Bank Transactions and Reconciliation Statements
- Instruments of bank transactions
- E-banking system
- Causes of discrepancies between cash book and bank statement
- Bank reconciliation statement
- Adjusted cash book
What JAMB expects you to do:
- Identify various instruments of bank transactions such as cheques, pay-in-slips, credit cards, debit cards, internet banking and their uses
- Assess the impact of automated credit system, credit transfers, interbank transfers and direct debit on cash balances
- Identify factors that cause discrepancies between cash book balance and bank statement
- Determine adjusted cash book balance
Section C
C
Final Accounts and Adjustments
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6. Final Accounts of a Sole Trader/Proprietor
- Statement of profit or loss / income statement
- Statement of financial position
- Adjustments: provision for bad and doubtful debt
- Adjustments: provision for discounts
- Adjustments: provision for depreciation using straight-line and reducing balance methods
- Adjustments: accruals and prepayment
What JAMB expects you to do:
- Determine the cost of sales, gross profit and net profit of a sole trader
- Identify non-current assets, current assets, long-term liabilities, current liabilities and proprietor's capital
- Compute adjustable items on the related expenditure and income in the statement of profit or loss
- Differentiate between bad debts and provision for bad and doubtful debts
7. Stock Valuation
- Meaning and purpose of stock valuation
- Methods of stock valuation: FIFO, LIFO and simple average
- Advantages and disadvantages of the methods
What JAMB expects you to do:
- Determine the value of materials issued to production department using FIFO, LIFO and simple average
- Calculate the closing stock of materials or finished goods using FIFO, LIFO and simple average
- Compare the advantages and disadvantages of each method of stock valuation
- Determine the effects of stock valuation on elements of income statement
8. Control Accounts
- Meaning and uses of control accounts
- Purchases ledger control account
- Sales ledger control account
What JAMB expects you to do:
- Understand the meaning of control accounts
- Identify the uses of control accounts in a business enterprise
- Differentiate between sales ledger control account and purchases ledger control account
- Identify the entries in control accounts
9. Incomplete Records and Single Entry
- Meaning of incomplete records and single entry
- Differentiation between incomplete records and single entry
- Determination of missing figures
- Preparation of final accounts from incomplete records
- Conversion of single entry to double entry
What JAMB expects you to do:
- Understand and differentiate between incomplete records and single entry
- Determine proprietor's capital using statement of affairs
- Determine the amount of sales, purchases, cash balances, debtors, creditors and expenses by converting single entry to double entry
- Use accounting equations, gross and net profit percentages to determine cost of sales, gross and net profits
10. Manufacturing Accounts
- Purpose of manufacturing account
- Cost classification
- Cost apportionment
- Preparation of manufacturing account
What JAMB expects you to do:
- Identify the reason for preparing manufacturing account
- Calculate prime cost, overhead cost, production cost and total cost
- Determine the basis of cost apportionment among production, administration, selling and distribution
Section D
D
Specialised Accounts
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11. Accounts of Not-For-Profit-Making Organizations
- Objectives of not-for-profit organisations
- Receipts and payments account
- Income and expenditure account
- Statement of financial position
What JAMB expects you to do:
- Distinguish between profit-oriented and Not-For-Profit-Making Organizations
- Determine annual subscription, subscription in arrears and in advance
- Compute the cash balances, accumulated funds, surplus or deficit for the period
12. Departmental Accounts
- Objectives of departmental accounts
- Apportionment of incomes and expenses
- Departmental statement of profit or loss
- Inter-departmental transfer
What JAMB expects you to do:
- Identify the reasons for preparing departmental accounts
- Determine the expenses and incomes attributable to departments
- Compute departmental profit or loss
- Understand the Accounting treatment of inter-departmental transfer
13. Branch Accounts
- Objectives of branch accounts
- Types of branches
- Pricing methods and accounts maintained by head office
- Accounts maintained by a branch
- Reconciliation of branch and head office books
What JAMB expects you to do:
- Understand the reasons for preparing branch accounts
- Differentiate between types of branches
- Calculate profit or loss from branches
- Reconcile the difference between branch and head office accounts
14. Joint Venture Accounts
- Objectives and features of joint venture
- Forms of joint ventures
- Accounting procedures
- Memorandum joint venture accounts
What JAMB expects you to do:
- Identify the objectives and features of joint venture
- Identify the forms of joint venture
- Identify the Accounting procedures of joint venture
- Determine the profit or loss of joint venture
Section E
E
Partnership and Company Accounts
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15. Partnership Accounts
- Formation of partnership
- Partners' current and capital accounts
- Partnership final accounts: profit or loss account, appropriation account, statement of financial position
- Treatment of goodwill
- Admission/retirement of a partner
- Dissolution of partnership
What JAMB expects you to do:
- Understand the procedures for the formation of partnership
- Identify the accounts maintained for partnership business
- Determine the effects of admission and retirement of a partner
- Determine profit or loss on revaluation of assets
- Determine the partners' share of profit or loss on dissolution
16. Introduction to Company Accounts
- Formation and classification of companies
- Issue of shares and debentures
- Final accounts of companies: statement of profit or loss, statement of financial position
- Accounting ratios
- Distinction between capital and revenue reserves
What JAMB expects you to do:
- Differentiate between types of companies
- Identify the procedures of treating the issue of shares and debentures
- Compute the elements of final accounts of companies
- Compute and interpret Accounting ratios such as current, acid test and stock turnover
Section F
F
Public Sector Accounting and Technology
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17. Public Sector Accounting
- Accounting basis in public sector
- Sources of government revenue
- Capital and recurrent expenditure
- Consolidated Revenue Fund
- Statement of assets and liabilities
- Responsibilities and powers of: the Accountant General, the Auditor General, the Minister of Finance, the Treasurer of Local Government
- Instruments of financial regulation (warrant, votes, budget, due process certificate)
- Current issues: Treasury Single Account (TSA), IPSAS, IPPIS
What JAMB expects you to do:
- Differentiate between public and private sector accounting
- Identify the sources of government revenue
- Differentiate between capital and recurrent expenditure
- Calculate consolidated revenue fund and determine the values of assets and liabilities
- Identify the duties of the Accountant General, Auditor General, Minister of Finance and Treasurer of Local Government
- Distinguish between elements of control in government accounting procedures e.g. warrant, votes, budget and due process certificate
- Understand current trends in public sector Accounting
18. Information Technology in Accounting
- Manual and computerized Accounting processing systems
- Procedures involved in data processing
- Digitization and digital technologies: machine learning and AI, data analytics, mobile accounting, special accounting software
- Block chain technology in Accounting system
- Virtual Accounting
What JAMB expects you to do:
- Differentiate between manual and computerized Accounting processing system
- Identify the procedures involved in data processing
- Identify the digital technologies used in Accounting processing system
- Understand the benefits of block chain technology in Accounting system
- Identify the services provided by virtual accountants such as book keeping, payroll processing, tax preparation, banks, credit and loan accounts reconciliation, financial statement preparation, etc.
- Identify the advantages and disadvantages of computerized Accounting processing system
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Now Practice JAMB Principles of Accounting Past Questions
Reading the syllabus is step one. The fastest way to score high is to practice real past questions from every year — with instant answers and explanations.
Practice Principles of Accounting Past Questions →📚 JAMB Recommended Textbooks
These are the official books listed by JAMB for Principles of Accounting preparation:
📖 Adekunle, K.O. (2014) — Bounty Financial Accounting for Schools and College, Bounty Press Ltd, Ibadan
📖 Agbasiere, E.A., Ufot, C.I. & Olugbenga, T.E. (2015) — New Age Financial Accounting SSS Text Books, New Age Press Ltd, Anambra
📖 Ayodele, A. (2015) — Financial Accounting for Schools and Colleges, Spectrum Books Ltd, Ibadan
📖 Ekwue, K.C. (2010) — Principles of Accounts, Books 1 & 2, Adson Publishing Company, Onitsha
📖 Femi, L. (2013) — Simplified and Amplified Financial Accounting
📖 Frankwood & Alan, S. (2002) — Frankwood's Business Accounting, Prentice Hall International Edition
📖 Hassan, M.M. (2001) — Government Accounting, Malthouse Press Limited, Lagos
📖 Ibrahim, R.A. & Kazeem, R.A. (2018) — Essential Financial Accounting for Senior Secondary Schools (Sixth Edition), Tonad Publishers Limited, Ogun State
📖 Igben, R.O. (2004) — Financial Accounting Made Simple (Vol. I), Roi Publishers, Lagos
📖 ICAN (2021) — Foundation Level Financial Accounting Study Text, Institute of Chartered Accountants of Nigeria, Lagos
📖 Ono, D.I., Oshunnira, M. & Ozurigbo, P.M. (2015) — Financial Accounting for Senior Secondary Schools, Hebn Publishers Plc, Ibadan
Common Questions 🤔
JAMB Principles of Accounting covers 18 topics grouped into six areas: Foundations of Accounting (Book Keeping, Double Entry, Ethics), Cash and Banking, Final Accounts and Adjustments (Sole Trader, Stock Valuation, Control Accounts, Incomplete Records, Manufacturing), Specialised Accounts (Not-For-Profit, Departmental, Branch, Joint Venture), Partnership and Company Accounts, and Public Sector Accounting with IT in Accounting.
JAMB sets 60 questions in Principles of Accounting. The questions are drawn from all 18 topics across the syllabus. Topics like Double Entry, Final Accounts of a Sole Trader, Partnership Accounts and Control Accounts tend to carry the most questions.
The Principles of Double Entry (Topic 2) is the foundation of the entire syllabus — mastering it makes every other topic easier. Final Accounts of a Sole Trader (Topic 6) and Partnership Accounts (Topic 15) are also consistently high-yield areas, each requiring both conceptual understanding and numerical computation.
Yes. Stock Valuation (Topic 7) appears regularly in JAMB Accounting. You must be able to calculate closing stock and cost of goods sold using FIFO (First-In-First-Out), LIFO (Last-In-First-Out) and simple average, and understand how each method affects profit figures in the income statement.
Yes. Topic 17 covers Public Sector Accounting including sources of government revenue, capital vs recurrent expenditure, the Consolidated Revenue Fund, and the roles of the Accountant General, Auditor General and Minister of Finance. Current issues like the Treasury Single Account (TSA) and IPSAS are also part of the syllabus.
The core 18-topic structure of the Principles of Accounting syllabus has been stable. The most recent addition is Topic 18 — Information Technology in Accounting — which now includes blockchain technology, AI/machine learning, mobile accounting and virtual accounting. Always practise past questions from 2023 onwards to stay current with JAMB's question style.