1. Introduction to Accounting?
1.1 The nature and purpose of accounting
1.2 Users of accounting information and their respective needs
1.3 Accounting Standards and their purposes (IFRS, IASs, IPSAS)
1.4 Elements of accounting statements
1.5 The qualitative characteristics of accounting information
1.6 Principles; concepts and conventions underlying the preparation of accounting statements
1.7 Regulatory framework (ICPAK, IASB, IAESB, IPSASB)
1.8 Professional ethics
1.9 Description of Social and environmental accounting
Introduction to Accounting
Accounting procedures and techniques?
2.1 Source documents, the accounting cycle, the accounting equation
2.2 Double entry book-keeping
2.3 The ledger and their role in recording and summarising, classifying accounting data
2.4 Books of original entry
2.5 Petty cash book
2.6 Balancing accounts and preparing the trial balance
2.7 Introduction to simple statements of financial performance
2.8 Statements of financial position
Preparation of financial statement and Year End Adjustment
End year Adjustments
Draft Lesson
5. Confirming and Correcting Mechanism
Confirming and Correcting Mechanism
6. Errors and Correction of errors
Errors and Correction of Errors
Use of Suspense Account in Correction of Error
7. Sole traders accounts?
7.1 Income statements
7.2 Statements of financial position
8. Partnership accounts?
8.1 Basic contents of a partnership agreement
8.2 Provisions of the Partnership Act
8.3 Partnership statement of financial performance and appropriation account
8.4 Partners current account and statement of financial position
8.5 Financial statements to reflect elementary changes in partnership such as admission, retirement and dissolution
9. Introduction to simple company accounts?
9.1 Share capital and reserve
9.2 Issue of shares at par; premium; discount
9.3 Over and under subscriptions
9.4 Allotment and calls on shares, forfeiture of shares
9.5 Preparation of statements of financial performance and appropriation account and the statement of financial position
9.6 Published accounts: Components of a complete set of published financial statements only
10. Manufacturing accounts?
10.1 Elements of cost and cost behaviour
10.2 Preparation of manufacturing accounts, statement of financial performance and statement of financial position
10.3 Accounting treatment of manufacturing profit or loss and unrealised profit on closing stock
11. Financial statements of a not-for-profit organisation?
11.1 Characteristics of not-for-profit organisations
11.2 Receipts and payments accounts
11.3 Income and expenditure accounts and statement of financial position
Accounting for Non-profit organisations
12. Incomplete records and single entry book keeping?
12.1 Preparation of statement of affairs
12.2 Preparation of income statement
12.3 Preparation of statement of financial position
13. Analysis of financial statements?
13.1 Role of analysis in providing information for decision making
13.2 Cross sectional and common size analysis
13.3 Trend analysis
13.4 Financial ratio analysis: liquidity ratios, return ratios, margin ratios, coverage ratios, leverage ratios, capital structure ratios, turnover ratios, activity ratios, efficiency ratios, market evaluation (valuation) ratios, cost ratios etc
13.5 Working capital and cash operating cycle
13.6 Preparation of statement of cash flows (International Accounting Standard 7) using the direct and indirect methods
Analysis of Financial Statement
14. Public sector accounting?
14.1 Features of public sector entities (as compared to private sector)
14.2 Structure of the public sector and examples of entities in public sector
14.3 Objectives of public sector financial statements
14.4 Users of public sector financial statements and officers (treasury, accounting officers, public accounts committee, auditor general)
14.5 IPSAS on inventory, property, plant and equipment and intangible assets (the ledger accounts of central and county governments are not examinable)
14.6 Accounting techniques in public sector (budgeting, cash, accrual, commitment and fund)
PAST PAPERS
Dec Exam 2021
Pilot Paper