Subject overview
The aim of the Unified Tertiary Matriculation Examination (UTME) syllabus in Principles of
Official syllabus Content is taken from the official JAMB UTME syllabus (IBASS). Last checked: 17 Sept 2026. Always confirm at jamb.gov.ng.
Your progress
Mark topics as you go to track your readiness.
Study the syllabus below, then test yourself. Move each topic from Not started → Learning → Practising → Mastered.
General objectives
The Principles of Accounts syllabus is designed to test candidates' ability to:
- PRINCIPLES OF ACCOUNTING
- Accounting is to prepare the candidates for the Board’s examination. It is designed to test their achievement of the course objectives, which are to
- 1. Stimulate and sustain their interest in Principles of Accounting
- 2. Use basic principles, knowledge, practical skills in Financial Accounting
- 3. Apply the knowledge and interpretation of Accounting information to decision making
- 4. Appreciate the relevance of Accounting information to business and governments; and
- 5. Apply information technology in solving Accounting problems
- TOPICS/CONTENTS OBJECTIVES
How this paper is examined
JAMB Principles of Accounts is a Computer-Based Test of 40 multiple-choice questions worth 100 marks. There is no negative marking, so attempt every question. It is examined alongside Use of English and two other subjects, for 180 questions in two hours overall.
How to use this syllabus: don't just read it — turn each topic into a checklist. Study a topic, then immediately practise questions on it so the knowledge sticks. Give extra time to the sections that carry the most topics, and revisit weak areas with timed practice as the exam approaches.
Topics & recommended order
Work through these topics in order. Mark each one as you go — your progress is saved on this device.
2. Principles of Double Entry
Not started4. Cash Book
Not started5. Bank Transactions and Reconciliation
Not started6. Final Accounts of a Sole
Not started7. Stock Valuation
Not started8. Control Accounts
Not started9. Incomplete Records and Single Entry
Not started10. Manufacturing Accounts
Not started11. Accounts of Not-For-Profit-Making
Not started12. Departmental Accounts
Not started13. Branch Accounts
Not started14. Joint Venture Accounts
Not started15. Partnership Accounts
Not started16. Introduction to Company Accounts
Not started17. Public Sector Accounting
Not startedFull Principles of Accounts syllabus
Every topic below is from the official JAMB syllabus, with its contents and the objectives you should be able to meet. Study a topic, then use its objectives as a checklist.
1. Nature and Significance of Book keeping
Contents
- 1. Nature and Significance of Book keeping and Accounting a. Development of Accounting (including branches of accounting) b. Objectives of Book Keeping and accounting c. Users and characteristics of Accounting information d. Principles, concepts and conventions of Accounting (nature, significance and application) e. Role of Accounting records and information f. Career opportunities in Book Keeping and Accounting
Objectives — candidates should be able to:
- 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; and
- Identify the different career opportunities in Book Keeping and Accounting
2. Principles of Double Entry
Contents
- 2. Principles of Double Entry a. Source documents b. Books of original entry c. Accounting equation d. Ledger and its classifications e. Trial balance f. Types and correction of errors g. Suspense Account TOPICS/CONTENTS
Objectives — candidates should be able to:
- 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; and
- Correct errors using suspense account. OBJECTIVES
3. Ethics, Professional and Regulatory Bodies
Contents
- 3. Ethics, Professional and Regulatory Bodies in Accounting a. Objectives b. Qualities of an Accountant c. Accounting professional bodies in Nigeria d. Accounting regulatory bodies
Objectives — candidates should be able to:
- 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; and
- 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)
4. Cash Book
Contents
- 4. Cash Book a. Columnar Cash Books: i. single column ii. double column iii. three column b. Discounts c. Petty Cash Book and imprest system
Objectives — candidates should be able to:
- 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; and
- Identify various petty cash expenses
5. Bank Transactions and Reconciliation
Contents
- 5. Bank Transactions and Reconciliation Statements a. Instrument of bank transactions b. e-banking system c. Causes of discrepancies between cash book and bank statement d. Bank reconciliation statement e. Adjusted cash book
Objectives — candidates should be able to:
- 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; and
- Determine adjusted cash book balance
6. Final Accounts of a Sole
Contents
- 6. Final Accounts of a Sole Trader/Proprietor a. Statement of profit or loss/income statement b. Statement of financial position c. Adjustments: i. provision for bad and doubtful debt ii. provision for discounts iii. provision for depreciation using straight- line and reducing balance methods iv. accruals and prepayment TOPICS/CONTENTS
Objectives — candidates should be able to:
- 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; and
- Differentiate between bad debts and provision for bad and doubtful debts. OBJECTIVES
7. Stock Valuation
Contents
- 7. Stock Valuation a. Meaning and purpose of stock valuation b. Methods of stock valuation e.g., FIFO, LIFO and simple average i c. Advantages and disadvantages of the methods i
Objectives — candidates should be able to:
- 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; and
- Determine the effects of stock valuation on elements of income statement
8. Control Accounts
Contents
- 8. Control Accounts a. Meaning and uses of control accounts b. Purchases ledger control account c. Sales ledger control account
Objectives — candidates should be able to:
- 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; and
- Identify the entries in control accounts
9. Incomplete Records and Single Entry
Contents
- 9. Incomplete Records and Single Entry a. Meaning of incomplete records and single entry b. Differentiate between incomplete records and single entry c. Determination of missing figures d. Preparation of final accounts from incomplete records e. Conversion of single entry to double entry
Objectives — candidates should be able to:
- 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; and
- Use accounting equations, gross and net profit percentages to determine cost of sales, gross and net profits
10. Manufacturing Accounts
Contents
- 10. Manufacturing Accounts a. Purpose of manufacturing account b. Cost classification c. Cost apportionment d. Preparation of manufacturing account
Objectives — candidates should be able to:
- Identify the reason for preparing manufacturing account
- Calculate prime cost, overhead cost, production cost and total cost; and
- Determine the basis of cost apportionment among production, administration, selling and distribution
11. Accounts of Not-For-Profit-Making
Contents
- 11. Accounts of Not-For-Profit-Making Organizations a. Objectives b. Receipts and payments account c. Income and expenditure account d. Statement of financial position TOPICS/CONTENTS
Objectives — candidates should be able to:
- Distinguish between profit oriented and Not-For-Profit- Making Organizations
- Determine annual subscription, subscription in arrears and in advance; and
- Compute the cash balances, accumulated funds, surplus or deficit for the period. OBJECTIVES
12. Departmental Accounts
Contents
- 12. Departmental Accounts a. Objectives b. Apportionment of incomes and expenses c. Departmental statement of profit or loss d. Inter-departmental transfer
Objectives — candidates should be able to:
- Identify the reasons for preparing departmental accounts
- Determine the expenses and incomes attributable to departments
- Compute departmental profit or loss; and
- Understand the Accounting treatment of inter- departmental transfer
13. Branch Accounts
Contents
- 13. Branch Accounts a. Objectives b. Types of branches c. Pricing methods and accounts maintained by head office d. Account maintained by a branch e. Reconciliation of branch and head office books
Objectives — candidates should be able to:
- Understand the reasons for preparing branch accounts
- Differentiate between types of branches
- Calculate profit or loss from branches; and
- Reconcile the difference between branch and head office accounts
14. Joint Venture Accounts
Contents
- 14. Joint Venture Accounts a. Objectives and features b. Forms of joint ventures c. Accounting procedures d. Memorandum joint venture accounts
Objectives — candidates should be able to:
- Identify the objectives and features of joint venture
- Identify the forms of joint venture
- Identify the Accounting procedures of joint venture; and
- Determine the profit or loss of joint venture
15. Partnership Accounts
Contents
- 15. Partnership Accounts a. Formation of partnership b. Partners current and capital accounts c. Partnership final accounts: i. profit or loss account ii. appropriation account
Objectives — candidates should be able to:
- 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; and
- Determine the partners’ share of profit or loss on dissolution
16. Introduction to Company Accounts
Contents
- 16. Introduction to Company Accounts a. Formation and classification of companies b. Issue of shares and debentures c. Final accounts of companies
Objectives — candidates should be able to:
- Differentiate between types of companies
- Identify the procedures of treating the issue of shares and debentures
- Compute the elements of final accounts of companies; and
- Compute and interpret Accounting ratios such as current, acid test and stock turnover. OBJECTIVES
17. Public Sector Accounting
Contents
- 17. Public Sector Accounting a. Accounting basis in public sector b. Sources of government revenue c. Capital and recurrent expenditure d. Consolidated Revenue Fund e. Statement of assets and liabilities f. Responsibilities and powers of: i. The Accountant General ii. The Auditor General iii. The Minister of Finance iv. The Treasurer of Local Government g. Instruments of financial regulation h. Current issues in public sector Accounting: i. Treasury Single Account (TSA) ii. International Public Sector Accounting Standard (IPSAS) iii. Integrated Payroll and Personnel Information System (IPPIS)
Objectives — candidates should be able to:
- 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; and
- Understand current trends in public sector Accounting
18. Information Technology in Accounting
Contents
- 18. Information Technology in Accounting a. Manual and computerized Accounting processing system b. Procedures involved in data processing c. Digitization and digital technologies in Accounting: i. machine learning and artificial intelligence (AI) ii. data analytics iii. mobile accounting iv. special accounting software d. Block chain technology in Accounting system e. Virtual Accounting
- Ayodele A. (2015). Financial Accounting for Scho Ekwue K. C. (2010). Principles of
- Ono, D.I
Objectives — candidates should be able to:
- Differentiate between manual and computerized Accounting processing system
- Identify the procedures involved in data processing
- Identify the digital technologies use 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.; and
- Identify the advantages and disadvantages of computerized Accounting processing system
Recommended texts for JAMB Principles of Accounts
These are the recommended textbooks listed in the official JAMB Principles of Accounts syllabus. You do not need every book — one solid, complete text that follows the syllabus, paired with past-question practice, is enough.
- Adekunle, K.O. (2014). Bounty Financial Accounting for Schools and College, Ibadan: Bounty Press Ltd.
- Agbasiere, E.A., Ufot C.I and Olugbenga T.E. (2015). New age Financial Accounting SSS Text Books, Anambra: New Age Press Ltd.
- Ayodele A. (2015). Financial Accounting for Schools and Colleges, Ibadan: Spectrum Books Ltd.
- Ekwue K. C. (2010). Principles of Accounts, Book 1 & 2, Onitsha: Adson Publishing Company,
- Femi L. (2013). Simplified and Amplified Financial Accounting.
- Frankwood and Alan S. (2002). Frankwood’s Business Accounting, Prentice Hall International Edition.
- Hassan M. M. (2001). Government Accounting, Lagos: Malthouse Press Limited.
- Ibrahim, R.A and Kazeem R. A (2018). Essential Financial Accounting for Senior Secondary Schools (sixth edition), Ogun State: Tonad Publishers Limited.
- Igben, R. O. (2004). Financial Accounting Made Simple (Vol. I) Lagos: Roi Publishers.
- ICAN (2021). Foundation Level Financial Accounting Study Text, Lagos: Institute of Chartered Accountants of Nigeria.
- Ono, D.I., Oshunnira, M. and Ozurigbo, P.M. (2015). Financial Accounting for Senior Secondary Schools, Ibadan: Hebn Publishers Plc.
Recommended next steps
All subjects · Subject combination checker · JAMB information · CBT practice
Frequently asked questions
What is the JAMB Principles of Accounts syllabus for 2026/2027?
The JAMB Principles of Accounts syllabus for the 2026/2027 UTME is the official document that lists every topic, objective and recommended text you will be examined on. It covers the nature and objectives of accounting; bookkeeping and the double-entry system; the ledger, trial balance and final accounts; cash books and bank reconciliation; control accounts; accounts of not-for-profit organisations, partnerships and companies; and interpretation of accounts. Every question in the Principles of Accounts paper is drawn from this syllabus, so studying any topic outside it is a waste of time. The complete, up-to-date syllabus is reproduced in full on this page.
What are the areas of concentration for JAMB Principles of Accounts?
The areas of concentration are the sections and high-frequency topics the UTME focuses on. Double-entry bookkeeping, the trial balance and final accounts (trading, profit-and-loss and balance sheet), cash books and bank reconciliation, and control accounts are the highest-yield areas — practise preparing accounts until the format is automatic. Concentrate your revision on these areas first, then cover the rest of the syllabus — and practise past-question-style questions on each area so you recognise how they are tested.
How many questions does JAMB set in Principles of Accounts?
JAMB sets 40 multiple-choice questions in Principles of Accounts, worth 100 marks. Only Use of English has more (60 questions). Across your four subjects the UTME totals 180 questions and 400 marks.
How long is the JAMB exam and how much time per Principles of Accounts question?
The whole UTME lasts two hours (120 minutes) for all four subjects combined — roughly 40 seconds per question. Answer the questions you know quickly, flag the harder ones, and return to them. There is no negative marking, so never leave any question unanswered.
Is Principles of Accounts compulsory in JAMB?
Use of English is the only universally compulsory subject, but Principles of Accounts is required or accepted for Accounting, Banking and Finance, Business Administration and many commercial and management courses.
What are the hot topics or most repeated topics in JAMB Principles of Accounts?
While JAMB does not publish a 'hot topics' list, the syllabus changes little year to year, so the same high-frequency topics recur. Double-entry bookkeeping, the trial balance and final accounts (trading, profit-and-loss and balance sheet), cash books and bank reconciliation, and control accounts are the highest-yield areas — practise preparing accounts until the format is automatic. Studying strictly by the syllabus and practising many questions per topic is the reliable way to prepare — never rely on 'expo' or leaked questions, which are scams and can cost you your result.
What are the recommended textbooks for JAMB Principles of Accounts?
The official syllabus recommends standard texts: Financial Accounting for Schools and Colleges (Ayodele) and Frankwood's Business Accounting. You do not need every book — one complete, syllabus-aligned textbook plus consistent past-question practice is enough. See the full recommended-texts list below.
Can I download the JAMB Principles of Accounts syllabus PDF for free?
JAMB publishes the official syllabus free on the IBASS portal at jamb.gov.ng (Quick Links → Syllabus System). Rather than a static PDF, this page reproduces the complete Principles of Accounts syllabus for 2026/2027 — every section, topic and recommended text — so you can study it on any phone, with progress tracking and practice built in. Always confirm the current syllabus on the official portal.
Does the JAMB Principles of Accounts syllabus change every year?
No — the core topics stay largely the same from year to year because the subject content does not change. The only occasional changes are to prescribed texts in a few subjects. Always check the official syllabus at the start of your preparation to confirm nothing in your subjects has been updated.
Is there negative marking in JAMB Principles of Accounts?
No. JAMB does not use negative marking, so a wrong answer simply scores zero — there is no penalty. This means you should attempt every one of the 40 questions, even where you have to make an educated guess near the end of the time.
How do I study the JAMB Principles of Accounts syllabus effectively?
Turn the syllabus into a checklist: study one topic, then immediately practise questions on it so it sticks; give the most time to the areas of concentration that carry the most topics; use one recommended textbook rather than many; and practise past-question-style questions under timed conditions to build speed. Track each topic on this page from Not started to Mastered so you always know what is left.
How can I practise JAMB Principles of Accounts questions on Belmadeng?
Belmadeng offers free, timed CBT practice with worked explanations. Study a topic here, then test yourself — your weak topics are highlighted afterwards so you know exactly what to revise. Explore CBT practice to prepare the way the real Computer-Based Test works.
Source: official JAMB UTME Principles of Accounts syllabus (IBASS, jamb.gov.ng). Reproduced for study use. Last checked: 17 Sept 2026. Belmadeng is not affiliated with JAMB — always confirm the current syllabus on the official portal.
Courses that require Principles of Accounts in JAMB
Principles of Accounts features in the UTME combination for specialised courses and language/education programmes. See the full list of courses and their subject combinations to find where it applies.
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Related JAMB subjects
Candidates studying Principles of Accounts often study these subjects alongside it. Each links to its full official syllabus and free CBT practice: