Accounts - Principles of Accounts Jamb Topics 2026

1. Nature and Significance of Accounting

• Development of accounting

• Branches of accounting

• Objectives of bookkeeping and accounting

• Users and characteristics of Accounting information

• Principles, concepts, and conventions of accounting

• Role of accounting records and information

2. Principles of Double Entry

• Functions of source documents

• Books of original entry

• Accounting equation

• The ledger and its classifications

• Trial balance

• Types and treatment of errors and uses of suspense account

3. Ethics in Accounting

• Objectives of ethics in accounting

• Qualities of an Accountant

4. Cashbook

• Columnar cashbooks

• Discounts

• Petty cashbook and the imprest system

5. Bank Transactions and Reconciliation Statements

• Instrument of bank transactions

• E-banking system

• Courses of discrepancies between cashbook and bank statement

• Bank reconciliation statement

6. The Final Accounts of a Sole Trader

• Income statement (Trading and profit and loss account)

• Statement of financial position (Balance sheet)

• Adjustments

• Provision for bad and doubtful debt

• Provision for discounts

• Provision for depreciation using straight-line and reducing balance methods

• Accruals and prepayments

7. Stock Valuation

• Methods of cost determination using FIFO, LIFO and simple average

• The advantages and disadvantages of the methods

• The importance of stock valuation

8. Control Accounts and Self-balancing Ledgers

• Importance of control accounts

• Purchases ledger control account

• Sales ledger control account

9. Incomplete Records and Single Entry

• Conversion of single entry to double entry

• Determination of missing figures

• Preparation of final accounts from incomplete records

10. Manufacturing Accounts

• Cost classification

• Cost apportionment

• Preparation of manufacturing account

11. Accounts of Not-For-Profit-Making Organizations

• Objectives of Not-For-Profit-Making organizations

• Receipts and payments account

• Income and expenditure account

• Statement of financial position (Balance sheet)

12. Departmental Accounts

• Objectives of departmental accounts

• Apportionment of expenses

• Departmental trading and profit and loss account

13. Branch Accounts

• Objectives of branch accounts

• Branch accounts in the head office books

• Head office account

• Reconciliation of branch and head office books

14. Joint Venture Accounts

• Objectives of Joint Venture Accounts

• Personal accounts of venturers

• Memorandum Joint venture accounts

15. Partnership Accounts

• Formation of partnership

• Profit and loss account

• Appropriation account

• Partners current and capital accounts

• Treatment of goodwill

• Admission/retirement of a partner

• Dissolution of partnership

• Conversion of a partnership to a company

16. Introduction to Company Accounts

• Formation and classification of companies

• Issue of shares and debentures

• Final accounts of companies

• Interpretation of accounts using ratios

• Distinction between capital and revenue reserves

17. Public Sector Accounting

• Comparison of cash and accrual basis of accounting

• Sources of government revenue

• Capital and recurrent expenditure

• Consolidated revenue fund

• Statement of assets and liabilities

• Responsibilities and powers

• Instruments of financial regulation

18. Information Technology in Accounting

• Manual and computerized accounting processing system

• Processes involved in data processing

• Computer hardware and software

• Advantages and disadvantages of manual and computerized accounting processing system