FINANCIAL ACCOUNTING
- AIMS AND OBJECTIVES
The examination in this subject sets out to assess candidates’:
(i) Understanding of accounting principles and the role of accounting in recording business transactions;
(ii) appreciation and application of the rules and functions of Accounting as they apply to organization;
(iii) foundation for further studies in Accounting.
EXAMINATION SCHEME
There will be two papers – Paper 1 and Paper 2, both of which will constitute a composite paper to be taken at one sitting.
PAPER 1: Will comprise fifty multiple choice questions to be taken in 1 hour for 50 marks.
PAPER 2: Will be made up of two sections: Sections A and B and will last 2½ hours.
Section A: Will contain five essay questions on theory of financial accounting. Candidates will be required to answer two out of the four questions for 15 marks each.
Section B: Will contain five essay questions on financial accounting practice. Candidates will be required to answer three out of the questions for 15 marks each.
YOU CAN DOWNLOAD WAEC FINANCIAL ACCOUNTING SYLLABUS HERE
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