JAMB (Joint Admissions and Matriculation Board) is responsible for conducting the UTME (Unified Tertiary Matriculation Examination) in Nigeria.
Financial Accounting is one of the key subjects for students pursuing business-related courses.
Many candidates wonder if JAMB repeats questions and which topics are most frequently tested.
This article provides a comprehensive guide to JAMB’s top repeated topics and questions for Financial Accounting, ensuring you focus on the most relevant areas while preparing.
Does JAMB Repeat Questions?
Yes, JAMB repeats questions from previous years, though not in the exact wording.
Instead, the concepts and structures of the questions often remain the same.
This makes it essential for candidates to study past questions and familiarize themselves with common patterns.
Reviewing past years’ Financial Accounting questions can help students understand how topics are frequently tested.
Top Repeated Topics in JAMB Financial Accounting
To excel in JAMB Financial Accounting, students should focus on the following frequently tested topics:
1. Principles of Double Entry
This concept is the foundation of accounting. Candidates should understand how every transaction affects two accounts and how to record them properly in ledger accounts.
2. Bank Reconciliation Statements
Questions on bank reconciliation appear almost every year.
Students should understand how to identify errors and adjust discrepancies between cash books and bank statements.
3. Depreciation and Asset Valuation
This topic covers the calculation of asset depreciation using methods like straight-line, reducing balance, and revaluation.
4. Final Accounts Preparation
JAMB frequently tests students on the preparation of Trading, Profit and Loss Accounts, and Balance Sheets for sole proprietors and partnerships.
5. Partnership Accounts
Candidates should know how profits and losses are shared among partners, how goodwill is valued, and how changes in partnerships are recorded.
6. Manufacturing Accounts
This area involves the calculation of cost of production, prime cost, and factory overheads.
7. Public Sector Accounting
Understanding government accounts, revenue sources, and expenditure management is important for candidates.
8. Single Entry and Incomplete Records
Many students find this topic challenging. It involves determining missing financial data using accounting ratios and equations.
9. Company Accounts
Preparation of financial statements for limited liability companies, including the calculation of dividends and reserves, is another frequently examined topic.
10. Accounting Ratios and Interpretation
JAMB tests students’ ability to calculate and interpret profitability ratios, liquidity ratios, and efficiency ratios.
Frequently Asked Questions (FAQs)
1. Does JAMB Repeat Questions?
Yes, JAMB repeats questions, often modifying them slightly.
Reviewing past questions is crucial for recognizing common question patterns.
2. What Are the Important Topics in Financial Accounting?
Key topics include double-entry principles, bank reconciliation, depreciation, final accounts, partnership accounts, manufacturing accounts, public sector accounting, single entry, company accounts, and accounting ratios.
3. What Is the Cut-Off Mark for Financial Accounting in JAMB?
The JAMB cut-off mark varies by institution.
Generally, the minimum JAMB cut-off mark for financial accounting is 160, but some universities may require 180 or above.
4. How Many Questions Are in JAMB for Accounting?
The Financial Accounting section of JAMB consists of 40 questions.
Candidates have limited time to answer, so practicing time management is essential.
5. What Subjects Are Required for UTME Financial Accounting?
To study Financial Accounting at the university level, JAMB requires candidates to register for the following subjects:
English Language (Compulsory)
Mathematics
Financial Accounting
Economics or any other relevant subject
6. What Is the Lowest Cut-Off Mark for JAMB?
The lowest JAMB cut-off mark is 140, but this does not guarantee admission.
Universities often set their own cut-off marks higher than the JAMB benchmark.
Study Tips for Excelling in JAMB Financial Accounting
To perform well in JAMB Financial Accounting, candidates should adopt the following strategies:
1. Study Past Questions: Reviewing past exam questions increases familiarity with commonly tested topics.
2. Practice Time Management: Since there are 40 questions, students should allocate their time efficiently.
3. Understand Accounting Principles: Memorizing formulas is not enough—understanding their application is crucial.
4. Use Recommended Textbooks: Relying on standard Financial Accounting textbooks helps in covering the syllabus thoroughly.
5. Join Study Groups: Studying with peers improves understanding and retention of concepts.
Conclusion
JAMB Financial Accounting is a subject that requires thorough preparation.
Since JAMB repeats questions, studying past questions and focusing on frequently tested topics can improve performance.
Candidates should also ensure they meet the required cut-off marks and take advantage of recommended study materials.
By focusing on the most relevant topics, practicing past questions, and applying effective study techniques, success in JAMB Financial Accounting is achievable.