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BOOK KEEPING SYLLABUS 2010 Edition, for Ordinary level

Form One www.msomibora.com

1. Subject Matter Of Book Keeping

1. Subject Matter of Book Keeping
1. Define book keeping
2. Explain the role of Book-keeping
3. Explain the concepts of business entity
2. Principles Of Double Entry System
1. Principles of Double Entry System
1. Describe what a business transaction is
2. Analyses a business transaction
3. Sort the changing values of things owned and owed
4. Determine account balances
3. Classification Of Accounts
1. Classification of Accounts
1. Differentiate between personal and impersonal accounts
2. Identify the possessions of the business
4. Trial Balance
1. Trial Balance
1. Define the Trial Balance
2. Construct a Trial Balance
3. Give the advantages and short falls of the Trial Balance
5. Stock
1. Tock
1. Distinguish between stock at start and stock at close
2. Identify the treatment of stocks in the books of the business with particular
reference to the final accounts
6. Elementary Trading Profit And Loss Accounts
1. Elementary Trading Profit and Loss Accounts
1. Describe what a Trading, profit and Loss account is
2. Determine the Gross profit or Gross Loss
3. Determine the cost of goods sold
4. Determine the net profit and the net loss
7. Elementary Balance Sheet
1. Elementary Balance Sheet
1. Define the balance sheet
2. Explain the Balance sheet Interpretation and Capital of the business
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Form Two

1. Books Of Prime Entry

1. Books of Prime Entry
1. Give the meaning of books of original entry or subsidiary books
2. Identify the functions of books of original entry or subsidiary books
3. Record business transactions in the books of accounts and their effects to
ledger using different methods
4. Distinguish General ledger from purchase ledger and sales Ledger as
applies by businessmen
2. Petty Cash And Imprest System (Columnal Petty Cash Book)
1. Petty Cash and Imprest System (Columnal Petty Cash Book)
1. Determine the operation of the petty cash Book
2. Distinguish between cash overage and shortage
3. Explain the meaning and application of the imprest system and petty cash
vouchers
4. Sort out different petty expenditures and the technique of recording them
in the petty cash book and journals
3. Bank Reconciliation Statement
1. Bank Reconciliation Statement
1. Define Bank reconciliation Statement
2. Explain the importance of preparing a bank Reconciliation statement
3. Give reasons for the differences between the Cash book and the Bank
Statement Balances
4. Determine the techniques of choking accuracy of the cash Book
recordings in comparison with bank entries and their resultant balance
4. Government Accounting Terminology
1. Meaning of Government Counting Terminology
1. Define the term accounting
2. Explain the term accounting Officer
3. Define the term sub-accounting Officer
4. Describe the term collector of revenue
5. Explain the term Authorized Officer
6. Describe the term Public Money
7. Explain the term Exchequer Account
8. Explain the meaning of Consolidated Fund
9. Describe the meaning of Treasury
10. Describe the meaning of Paymaster General
11. Explain the of Account Year
12. Describe the meaning of Special fund
5. Sources Of Government Funds And Expenditure Estimates
1. Sources of Government Funds and Expenditure Estimates
1. Indentify sources of government funds and Expenditure Estimates
2. Difference between Revenue and Capital Expenditure Estimates
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Form Three

1. General Journal
1. General Journal
1. Explain the purpose of the General journal
2. Explain the relationship of the general journal to the ledger
3. Prepare journal entries to record common business transactions
4. Post information from the general journal to the ledger Accounts
2. Correction Of Errors
1. Correction of Errors
1. Identify wrong entries
2. The Effect of Errors
1. Explain the effect of errors on the value of stock
3. Preparation of Journal Entries Necessary to Correct Errors
1. Prepare a corrected Trial Balance
2. Outline uses of the Trail Balance
3. Adjustments
1. Adjustments
1. Explain why the life of a business is divided into accounting period
2. State why the accounts must be adjusted at the end of each accounting
period
3. Explain how adjusting entries are related to the concept of accrual
accounting and matching principle
4. Describe the four basic adjusting retries
5. Prepare adjusting entries for prepaid expenses, unearned revenue, accrued
Revenues and depreciation
6. Prepare entries to dispose of accrued revenue and expense items in thee
new accounting period
7. Explain the difference between the cash and accrual basis of accounting
8. Explain the importance of comparability in the financial statements of a
business, period after period
9. Explain how the realization principle and the matching principle attribute
to comparability
4. Capital Expenditure And Revenue Expenditure
1. Capital Expenditure and Revenue Expenditure
1. Give the meaning of capital expenditure and revenue expenditure
2. Distinguish capital expenditure items from revenue expenditure items
3. Explain the importance of distinguishing capital expenditure from revenue
expenditure
5. Depreciation
1. Depreciation
1. Determine the cost of a fixed asset
2. Write up an asset account
3. Write up a provision for depreciation account
4. Distinguish between copula and revenue expenditure
5. Explain the relationship between depreciation and the matching principle
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2. Computing Depreciation
1. Compute depreciation by the straight line
2. Compute depreciation by Units of output
3. Compute depreciation by Declining balance
4. Compute depreciation by Sum of the years digits
5. Compute depreciation by Revaluation
6. Compute depreciation by Double declining balance
7. Show the asset account, the provision for depreciation account as balance
sheet extracts
8. Write up an asset disposal account and extracts from the balance sheet
9. Show journal entries to record depreciation on fixed asset
10. Identify methods of providing depreciation employed
6. Bad Debts
1. Bad Depts
1. Show the bad debts account
2. The provision for bad debts account
3. Prepare a computation of the amount to be shown as Trade debtors in the
company balance sheet
4. Prepare a provision for discounts on debtors
7. Financial Statements
1. Financial Statements
1. Describe general purpose financial statements
2. Explain why general purpose financial statements must follow generally
accepted accounting principles
3. Describe an income statement
4. Prepare a balance sheet
8. Balance Sheet (Classified)
1. Balance Sheet (Classified)
1. Define each asset and liability classification appearing on a balance sheet
2. Classify balance sheet items
3. Prepare a classified balance sheet
9. Manufacturing Account
1. Manufacturing Account
1. Explain the difference in accounting for stocks between manufacturing
companies and merchandising companies
2. Describe the three basic types of manufacturing cost
3. Distinguish between indirect and direct manufacturing costs
4. Distinguish between product costs and period costs
5. Prepare a schedule of cost of finished goods manufactured
6. Determine the cost of work in process stocks and the costs of finished
goods stocks
7. Prepare closing entries for a manufacturing company
8. Describe the basic differences in the financial statements of manufacturing
companies and merchandising companies
9. Describe the procedure inherent in a general accounting system for a
manufacturing company
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10. List the different accounts that appear on a manufacturing comSDQ\¶V

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12. Explain the purpose of a manufacturing Account
13. Explain how a manufacturing Accounts is composed
10. Control Account
1. Control Account
1. Construct control account from subsidiary records
2. Prepare control accounts from account balance
3. Explain how a control ledger and its subsidiary ledger operate
4. Give the rule for posting to a subsidiary ledger and its controlling account
5. Record corrections in the control and suspense accounts
6. Reconcile the sales and purchases ledger control accounts with the
individual balances
11. Incomplete Records
1. Incomplete Records
1. Draw up statements to show profit or loss from incomplete records
2. Prepare trading, profit and loss account
3. Prepare balance sheet
4. Calculate amount of cash stolen
5. Calculate the value of stock at cost which had been stolen
12. Accounts Of Non-Profit Making Organizations
1. Accounting of Non-Profit Making Organizations
1. Prepare statements of affairs
2. Prepare income and expenditure account from a Receipts and payments
account
3. Calculate the value of the accumulated fund
4. Reconstruct income account and expenditure accounts
5. Prepare the balance sheet
6. State the advantages and disadvantages of Receipts and payments
accounts
13. Government Budgeting Procedure
1. Government Budgeting Procedure
1. Define a budget
2. State steps in the preparation of the budget
3. Explain the purpose of central government budgeting
2. Modern Approaches of Budgeting
1. Explain zero base budgeting
2. State the incremental budgeting
3. Explain the static budgeting
4. Explain the flexible budgeting
5. Explain the continuous budgeting
6. Explain the traditional budgeting
7. Explain th performance budgeting
8. Explain the costing of estimates: Revenue estimates procedure
9. Give the meaning of budget surplus deficit and balanced budgets
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10. State the objects of financial budgets

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Form Four

1. Bills Of Exchange
1. Bills of Exchange
1. Define a bill of exchange
2. Explain the nature of interest of a bill of exchange
3. Account for bill received
4. Account for: Accrued interest; Default of bill; Default or dishonor; The
discounting of a bill of exchange
5. Account for a bill of exchange with interest charges included in the face
amount
6. Discuss the concept of present value in accounting of a log-term bill of
Exchange
2. Joint Ventures
1. Joint Ventures
1. Define a joint venture
2. Show the joint venture accounts in the books of the parties
3. Determine the profit or otherwise of the joint venture
3. Consignments
1. Consigments
1. Show the account in the consignors aQG FRQVLJQHH¶V ERRNV
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and Loss Account
3. Prepare the Accounts sales
4. Show the consignment Inward Account in the book of the Consignee
4. Partnerships
1. Partnership
1. Describe the basic characteristics of a partnership
2. Explain the importance of mutual agency and unlimited liability to a
person about to become a partner
3. Discuss the advantages and disadvantages of the partnership as a form of
business
4. Distinguish between an ordinary partnership and limited partnership
5. Account for the formation of a partnership
6. Allocate partnership earnings to partners: On a stated fractional basis; In
the partners capital ratio and through the use of salary and interest
allowances
7. Account for the admission of new partner
5. Departmental Accounts
1. Departmental Accounts
1. Draw up the trading account for a departmental store
2. Apportion the overheads expenses to department
3. Explain the methods used in apportioning overhead expenses
4. Draw the profit and loss account in columnar form
5. Draw the departmental trading, profit and loss account
6. Draw a department balance sheet
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6. Elements Of Auditing
1. Elements of Auditing
1. Define auditing
2. Explain the main objects of auditing
3. State the types of auditing
4. Give the meaning of: Internal control; Internal check; Internal audit
5. Mention auditors working paper
6. Explain the different types of auditors reports and opinions