Candidates' Weakness
Some of the observed weaknesses in the candidates’ scripts were:
- Poor understanding of the rudiments of financial accounting and basic principles of bookkeeping;
- Inadequate preparation for the examination;
- Poor use of English grammar and expressions in explaining points;
- Posting of entries with wrong narrations and account headings;
- Wrong placement of values and digits in computations;
Some of these weaknesses were significantly reflected in the questions testing the following topics:
- Suspense Account;
- Accounting ratios;
- Shares/ Issue of shares;
- Revaluation Account;
- Goodwill Account/Partners Capital Account.
SUGGESTED REMEDIES
- Candidates should prepare very well by covering all aspects of the syllabus before writing the examination.
- Candidates should improve in the application of accounting principles and fundamentals during practice and preparation for the examination.
- Teachers should place more emphasis on rudiments and practical aspects of the syllabus for teaching and learning Financial Accounting in schools.
- Candidates should improve in their studies to master the appropriate use of terminologies, narrations, headings and currency values in accounting.
- Teachers should make use of past question papers during revision exercises for comprehensive exposition on examiners’ requirements for each question.