Revised Atswa Syllabus
Revised Atswa Syllabus
Revised Atswa Syllabus
&
ATSWA REGULATIONS
&
SYLLABUS
1
CONTENTS
PAGES
Foreword.............................................................................................
Introduction.........................................................................................
Philosophy of the New Syllabus...........................................................
Objective of the Scheme......................................................................
Potential Beneficiaries of the Scheme.................................................
Benefit of the Scheme.........................................................................
Entry Requirements.............................................................................
Registration for Student Membership...................................................
Privileges of Students..........................................................................
Practical Experience............................................................................
Membership.........................................................................................
Progression to the Professional Cadre.................................................
Examination........................................................................................
Publications.........................................................................................
Secretariat............................................................................................
Structure of the Syllabus......................................................................
Examination Time Table.....................................................................
Absence from an Examination.............................................................
Misconduct in an Examination............................................................
Examination Results............................................................................
Exemption Guidelines.........................................................................
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Pages
PAPER PART I
2. Economics……………………………………………..
3. Business Law………………………………………….
4. Communication Skills………………………………..
PART II
8. Information Technology…………………………….
PART III
9. Principles of Auditing…..........................................…
12. Management………………………………………….
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FOREWORD
At 34th Council meeting of the Council of the Association of Accountancy Bodies in West Africa
(ABWA), it was decided that there was the need for the formation of Accounting Technicians Scheme
for West African sub-region to serve as vehicle for providing a regionally recognised and accepted
professional qualifications for the supporting staff of Professional Accountants within the sub-region.
This syllabus is the product of the Council’s decision.
The ATSWA fulfils a dire need to produce a cadre of middle level manpower within the sub-region
required to give effective support and assistance to the professionally qualified Accountant so as to
maximize the latter’s efforts. The scheme was conceived as a means primarily of upgrading the skill
and competence of the numerous middle-level and potential lower grade workers in an accounting
office who require such higher skills both to do their work more competently and to enhance their
career potential while giving them status. The wisdom and foresight of ABWA Council in
developing this scheme is borne out of the tremendous patronage which the similar schemes of some
individual member bodies has received in their respective countries.
The syllabus attempts to meet the dual goals of the scheme through the subject structure and
coverage. It has also been aligned with the respective syllabi of the member bodies within ABWA
currently conducting such examination. The 12-subject-3-level structure examination combines
subjects which address purely the knowledge-skill needs of the potential ATSWA graduate (to be
known as AATSWA) working in an office with others which are mainly of a theoretical or conceptual
nature and therefore serve as a foundation for the higher levels of the Professional Examination.
In drawing up this syllabus, the ABWA Council was mindful of reciprocity with other major
accounting bodies in the UK, America, Canada, etc. The overall objective in this regard is that
ultimately, graduates of the scheme would be able to compare favourably with their counterparts
elsewhere and thus enjoy reciprocal recognition.
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1. INTRODUCTION
The Professional Accountant plays pivotal managerial, advisory and evaluative roles in
today’s modern business environment. Users of the profession expect professional accountants
to operate to the highest standards of competence, probity and expertise.
The job of Professional Accountants has become more challenging in the face of globalisation,
regional integration and advanced technology. In performing these functions, the Professional
Accountant requires the assistance of trained and able accounting technicians.
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4. POTENTIAL BENEFICIARIES OF THE SCHEME
It is believed that the entire economy will benefit from the increased productivity of a well-
trained and disciplined work-force. The individual Technician as well as the Organization
he/she works for will also benefit.
Specifically the following are some of the beneficiaries:
(i) Those holding supervisory accounting positions in Government, Commerce and
Industry, Finance and Revenue Departments.
(ii) Accounts Clerks or supervisors in Government-owned companies and parastatals.
(iii) Office managers and audit clerks in practicing firms.
6. ENTRY REQUIREMENTS
Entry requirements vary from country to country and each country specific requirements is on
its and ABWA websites. Kindly visit the website of ABWA and/or the country you are
interest in. You may please peruse the website addresses as listed below:
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7. REGISTRATION FOR STUDENT MEMBERSHIP
Candidates who wish to write the ATSWA examinations must first register as students under
the scheme. Application for registration must be made on the prescribed form and received by
the member-body for eligibility to enter for the subsequent examinations.
8. PRIVILEGES OF STUDENTS
Students may use the Students’ Library located at the Secretariats of the member body.
Students may take part in activities such as lectures and seminars or symposia organized by
the local accountancy body.
9. PRACTICAL EXPERIENCE
Students are expected to gain practical experience either in a professional practicing firm or in
the accounting department of any recognized organization in industry, commerce and public
sector.
10. MEMBERSHIP
On successful completion of ATSWA examinations, graduates of the scheme shall be
inducted into membership and designated AATWA.
12. EXAMINATION
i Examination Date
The examination will be taken in March and September of each year. The registration
for the March examination closes on 28th February and registration for the September
examination closes on 31st August. The examination will be open only to students
registered under the scheme. It will be in three parts. Each part shall consist of four
papers. Candidates shall take one part at a time and in a sequential order (i.e. Part I,
Part II, and Part III).
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ii Credit and Referral System
Part I & II
Candidates are to sit for all the four papers in parts I and II and will be credited with
any paper passed. Credits will also be given for any of the outstanding papers as they
are passed.
Part III
Candidates are to sit for all the four papers in this part and pass at least two subjects
before credit can be given. Credits will be given for any of the remaining papers
passed at any subsequent sitting.
Candidates must pass all the subjects at that part of the examination within six
consecutive diets i.e three consecutive years, otherwise, all credits granted will be
cancelled.
iii Centres
The examinations are held at the designated centres in member countries. At the
discretion of ABWA Council, examinations may be arranged at other centres.
13. PUBLICATIONS
The ABWA Council shall produce the following publications for the benefit of students:
(a) Members’ Journal
(b) Student Newsletter
(c) Past Questions and Answers, and
(d) Pilot Questions and Answers, each time the syllabus is reviewed.
14. SECRETARIAT
The ABWA Council’s Secretariat is located at:
Akintola Williams House
Plot 2048, Michael Okpara Street
Off Olusegun Obasanjo Way
Zone7, P.O. Box 7726,
Wuse District
Abuja, Nigeria
Tel: 234-9-5239844
Fax: 234-9-5239844
E-mail: [email protected]
All enquiries should be directed to the Executive Secretary
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15. STRUCTURE OF THE SYLLABUS
The syllabus has a three-part structure with twelve subjects as follows:
New Syllabus Old Syllabus
Part I Part I
1.1 Basic Accounting Processes & Systems 1.1 Basic Accounting Processes & System
1.2 Economics 1.2 Economics
1.3 Business Law 1.3 Business Law
1.4 Communication Skills 1.4 Communication Skills
Part II Part II
2.1 Principles and Practice of Financial Accounting 2.1 Principles and Practice of Financial Accounting
2.2 Public Sector Accounting 2.2 Government Accounting
2.3 Quantitative Analysis 2.3 Quantitative Analysis
2.4 Information Technology 2.4 Information Technology
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17. ABSENCE FROM AN EXAMINATION
Examination entries cannot be withdrawn after the closing date in any circumstance. Any fees
paid are non refundable and may not be transferred to subsequent examination.
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(vi) HND Accounting All subjects in Parts I to III only
(vii) University Diploma in
Accounting if duly
accredited by the Institute All subjects in Parts I and II only
(xii) ND of Monotechnics
offering Accounting All subjects in Part I and subject for subject
related courses exemption in Part II
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PART I
PAPER 1: BASIC ACCOUNTING PROCESSES AND SYSTEMS
OBJECTIVES:
On completion of this paper, candidates should be able to:
a. Understand the nature, principles and scope of accounting and its role in the
management of an organization.
b. Use the principles of double entry to post transactions into the relevant ledger
accounts.
c. Identify the source documents as evidence of transactions and relate them to right
books of original entry.
d. Balance off ledger accounts and extract the trial balance, identify errors and effect their
corrections.
e. Maintain simple cash and petty cash records.
f. Prepare and explain the importance of bank reconciliation statements.
g. Prepare and explain the uses of control accounts.
h. Differentiate between capital and revenue items and explain why the distinction is
necessary.
i. Collect and collate information for preparation of final accounts of sole traders.
j. Effect the necessary adjustments in the profit and loss account and balance sheet.
k. Record payroll transactions.
l. Record income and expenditures transactions.
m. prepare the financial statements of not-for-profit organizations with necessary
adjustments.
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STRUCTURE OF PAPER:
The paper will be a three-hour paper divided into two sections:
Section A (50 Marks): This shall consist of 50 compulsory questions made up of 30
multiple choice questions and 20 short attempt questions
covering the entire syllabus.
Section B (50 Marks): Six questions, out of which candidates are expected to attempt
any four, at 12½ marks each.
CONTENTS:
1. Nature And Significance of Accounting
(a) Brief historical development of accounting
(b) Purpose of accounting
(c) Users of financial statements and their information needs
(d) The range of accounting services provided to an organisation
2. Forms and Structures of Business Organisations
(a) Sole Proprietorship; Characteristics, advantages and disadvantages
(b) Partnership; Characteristics, forms, advantages and disadvantages
(c) Limited Liability Companies; Characteristics and types (including provisions and
reserves)
(d) Public Enterprises; Characteristics, advantages and disadvantages
3. Accounting Concepts and Conventions
(a) The distinction between the entity and its owner (Entity Concept)
(b) Historical cost convention
(c) Other concepts:
(i) Going concern
(ii) Money measurement
(iii) Consistency
(iv) Conservatism/prudence
(v) Materiality
(vi) Accrual/matching
(vii) Objectivity/fairness
(viii) Realisation
(ix) Periodicity/Time Interval
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4. Accounting Processes
(a) Main accounting source documents and their uses e.g. quotation, sales and purchase
orders, delivery note, invoice and pro-forma invoice, credit note, debit note, remittance
advice, receipt, payslip, payment voucher, etc.
(b) Books of original (prime) entries or Day Books:
(i) Purchases Day Book
(ii) Sales Day Book
(iii) Purchases Returns or Returns Outward Book
(iv) Sales Returns or Returns Inwards
(v) Cash Book (single, two-column and three –column)
(vi) General Journal
(c) Uses of the Journal Proper
(d) Principles and practice of double entry bookkeeping:
(i) Ledgers and their classifications
(ii) Postings by means of double entry
(iii) Balancing-off ledger accounts
e) The Trial Balance:
(i) Purpose of extracting a trial balance
(ii) Errors not affecting the agreement of the trial balance
(iii) Errors that affect the agreement of the trial balance
(iv) Use of suspense Accounts
f) Debtors and Creditors Statements
g) Accounting for fixed assets
(i) Types and characteristics of fixed assets
(ii) Classification of expenditure into capital and Revenue and the importance of their
distinction.
(iii) Accounting for depreciation and disposal of fixed assets; straight-line and
reducing balance methods only.
h) Simple adjustments affecting final accounts:
(i) Provision for bad and doubtful debts
(ii) Provision for discounts
(iii) Accruals and prepayments
(iv) Drawings account
(v) Discounts allowed and received
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(vi) Distinction between current and long-term liabilities
5. Control Accounts
(i) Sales (Debtors) and Purchases (creditors) Control Accounts
(ii) Different types of errors
(iii) Correction of errors (including journals)
(iv) Reconciliation of control account with ledger, Sales ledger; purchase ledger.
6. Banking Transactions
7. Payroll Accounting
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9. Preparation of Simple Financial Statements
(a) Trading profit and loss account and balance sheet of sole traders with simple
adjustments
(b) Simple manufacturing accounts
(c) Accounts of not-for-profit organisations
RECOMMENDED TEXTS
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PAPER 2: ECONOMICS
AIM
To examine candidates’ knowledge of basic principles and practice of Economics required of an
Accounting Technician to function efficiently and effectively as a member of an organization.
OBJECTIVES
On completion of this paper, candidates should be able to know and understand the:
(a) basic economic concepts and principles in the analysis of economic issues
(b) features of the general economic environment in which individual, firm, government and other
economic units operate
(c) basis for rational economic decisions
(d) activities of regional and international economic organizations with reference to their impact
on the domestic economy
(e) economic implications of the increasing inter-connections among nations of the world.
CONTENTS MICROECONOMICS
1. An introduction to Economics and Economy
(a) Definition and scope of Economics
(b) Basic economic concepts: Scarcity, choice, scale of preference, opportunity cost and
production possibility curve (PPC)
(c) Main branches of Economics:
(i) Microeconomics
(ii) Macroeconomics
(d) Basic economic problems of society
(e) Types, features and functions of economic systems
(f) The methodology of Economics
2. Theory of Value
(a) The concepts of demand and supply: Laws of demand and supply
(b) Determinants of demand and supply: Demand and supply functions
(c) Determination of consumer and producer surplus using demand and supply diagrams
(d) Distinction between changes in quantity demanded/supplied and changes in
demand/supply
(e) Determination of equilibrium price
(f) Changes in demand and supply and their effects on the market situation
(g) Exceptions to the laws of demand and supply
(h) Application of demand – supply diagram: Price control and minimum wage legislation
(i) Elasticity of demand and supply: Determinants, numerical evaluation, interpretation
and application of :
(i) Price elasticity of demand and supply
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(ii) Income elasticity of demand
(iii) Cross-price elasticity of demand
4. Theory of Production
(a) Meaning, types and factors of production
(b) Rewards to factors of production:
(i) Wages, rent, interest and profits
(ii) The concepts of economic rent, quasi rent and transfer earnings
(c) Short-run and long-run in production analysis
(d) Product concepts: total product, average product and marginal product
(e) Law of diminishing returns
(f) Law of returns to scale
(g) Economies and diseconomies of scales/predominance of small firms
(h) Cost concepts: total cost, average cost and marginal cost – their behaviours and
relationships
(i) Revenue concepts: total revenue, average revenue and marginal revenue
(j) Division of labour: meaning, advantages, disadvantages and limitations
(k) Location of industry: meaning and factors influencing location of industry
with appropriate examples from the West African Sub-region
(l) Localisation of industries: meaning, advantages and disadvantages
(m) (i) Business organisation: types, features, advantages and disadvantages
(ii) Privatisation, Commercialisation, Nationalisation and Deregulation.
5. Market Structures
(a) The concept of market
(b) Distinction between perfect and imperfect markets
(c) Meaning and features of perfect competition, monopoly, monopolistic competition,
monophony, oligopoly and duopoly
(d) Price and output determination in the short-run and long-run under the conditions of
perfect competition, monopoly and monopolistic competition
(e) Product differentiation and price discrimination
(f) Sources and control of monopoly power
(g) Mergers and acquisitions, their advantages and disadvantages
MACROECONOMICS
6. National Income
(a) Basic national income accounting concepts: Gross Domestic Product (GDP), Gross
National Product (GNP), Net National Product (NNP), National Income (NI), Personal
Income (PI)and Personal Disposable Income (PDI)
(b) Methods of computing National Income
(i) Income approach
(ii) Output or product approach
(iii) Expenditure approach
(c) The concept of circular flow of income
(d) Problems of measuring national income
(e) Uses and limitations of national income statistics
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(f) Factors determining the size of national income
(g) The concepts of consumption, savings and investments within the framework of
Keynesian macroeconomic setting
(h) Determination of equilibrium national income and the concept of multiplier
(i) The accelerator theory
RECOMMENDED TEXTS:
1. ATSWA Study Pack on Economics
2. Adebayo, Ademola (1988), Economics: A Simplified Approch, Lagos: African International
Publishing Ltd, Volume 1 and 2
3. Nkoom, J C (), Money Economics in Ghana
1. Begg, D., Fisher, S. and R. Dornbuscg (2008), Economics, New York: The McGraw Hill
Education Ltd
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PAPER 3: BUSINESS LAW
AIMS:
To examine candidates knowledge and understanding of:
• the legal environment in which organisations in general and the accountancy profession in
particular operate.
• the legal implications of business relationships and the relevance of legal rules to business sector,
commerce and industry.
OBJECTIVES:
On completion of this paper, candidates should:
a. know the structure, jurisdiction and functions of the legal systems and the rules applicable to
them.
b. have a working knowledge of the general principles of contract to aid their daily accounting
activities.
c. be familiar with the legal rules governing specific contracts.
d. be able to distinguish between the various forms of business associations and be conversant with
the main rules governing their operations.
e. be able to identify and appreciate the respective duties of bankers and customers and recognise the
nature of negotiable instruments as may be suitable for use as appropriate in their daily activities
as Accounting Technicians.
f. be able to apply the principles of law to simple case studies.
(a) Sources of Law: Common law, equity and statutes of general application; Judicial Precedent,
Legislation, Customary Law and International treaties.
(b) The Court System: An outline of the structure and hierarchy of courts;
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Qualification of judges; composition and jurisdiction of the various courts. Special courts.
(c) Forms of Legal Liability: Distinction between criminal and civil liability
2. Law of Contract
Nature and essential elements of a valid contract: offer, acceptance, consideration, intention to
create legal relations, capacity and consent.
Conditions, warranties and exemption clauses.
Illegal contracts and contracts in restraint of trade, vitiating factors.
Discharge of contracts and remedies for breach of contract.
3. Special Contracts
(a) Agency:
Creation and types; authority of agents; rights and duties of principals and agents and
termination of agency
(e) Insurance:
Meaning and Classification. Share capital. Meaning and features of the following
concepts and principles – insurable interest, premium, indemnity, utmost good faith,
conditions and warranties, subrogation and contribution.
(a) Partnership
Types and determination of existence. Authority of partners. Rights and duties of partners inter
se. Partners and third parties. Dissolution of partnership.
(a) Companies:
Nature and functions of the Corporate Affairs Commission. Types of companies. Process
of incorporation. Company securities (shares and debentures), directors, company
meetings. Majority Rule and Minority protection. Winding-up or liquidation.
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(a) Others:
Business Names, Incorporated Trustees and Unit trusts.
(a) The legal relationship between banker and customer and their respective duties.
(b) Meaning and characteristics of Negotiable Instruments. Bills of exchange, Cheques and
Promissory notes. Crossing of cheques.
RECOMMENDED TEXTS
1. ATSWA Study Pack on Business Law
2. Obilade, A.O. - The Nigerian Legal System, Spectrum Books.
3. Bondzi-Simpson, P.E. - Company Law in Ghana, Methodist Book Depot, Accra
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PAPER 4 COMMUNICATION SKILLS
AIM:
To examine candidates’ competence in the use of those aspects of the English Language (both oral
and written) that will ensure effective communication within and outside the organization.
OBJECTIVES:
On completion of this paper, candidates should be able to
(a) read and understand texts on technical concepts relating to the profession;
(b) answer questions on comprehension and summary passages relevant to the profession;
(c) write, within a specific length, a good summary of a given passage or a part thereof;
(d) know grammatical rules and mechanics that relate to good use of language such as word classes,
phrases, clauses, sentences, concord, punctuation marks, spellings, etc.;
(e) know different types of essays as well as correspondence and how to write them;
(f) understand the structure and uses of the communication systems, models and networks within
and outside the organization;
(g) apply the relevant language skills to the communicative activities in an organization; and
(h) interprete technical and non-technical information objectively.
CONTENTS
1. Introduction to Communication
(a) Communication Systems, Models and Networks:
• Definition of communication.
• Elements of the communication process.
• Differences among oral, written and non-verbal communication.
• Formal communication system: vertical, horizontal and diagonal; semi-formal and
informal communication systems.
• Barriers and limitations to effective communication.
• Communication ethics in conflict resolution, mediation and negotiation.
• Interpretation of technical and non-technical information.
2. Language Use
(a) Vocabulary
• Identification of minimal pairs
• Homophones
• Homonyms
• Synonyms
• Antonyms, etc.
(b) Word classes
• Meaning
• Form
• Usage
(c) Phrases
• Types
• Functions
(d) Clauses
• Types
• Functions
• Analysis
(e) Sentences
(i) Classification by
• Structure, e.g. simple, compound, complex, etc.
• Intention, e.g. declarative, imperative, interrogative, etc.
(ii) Problems associated with sentence construction, e.g.
• split infinitive
• dangling modifiers
• faulty parallelism, etc.
(f) Tense distinction
(g) Concord:
• Grammatical
• Notional
• proximity, etc.
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(h) Mechanics:
• Paragraphing
• Punctuation marks
• Spellings, etc.
(i) Direct and reported speeches
(j) Common errors
(k) Pronunciation:
• Word stress
• Sentence stress
• Intonation, etc.
(l) Figurative expression:
• Figures of speech
• Idioms
• Parables
• Proverbs, etc.
RECOMMENDED TEXTS
27
PART II
OBJECTIVES:
On completion of this paper, candidates should be able to:
(a) Collect and collate information for the completing of simple final accounts
(b) Record stock acquisition and maintain effective control
(c) Prepare the extended trial balance
(d) Explain accounting concepts and conventions adopted in generally accepted accounting
financial principles
(e) Prepare the financial statements of partnership and limited liability companies
(f) Use simple ratio analyses to interpret financial statements.
(g) Maintain records relating to capital acquisition and disposal is introduced in order to test
candidates’ understanding of accounting treatment of fixed assets, recording, movement,
disposal and schedule.
(h) Code and extract income and expenditure correctly using computer accounting package is
included to develop the candidates’ ability to use a computer system to carry out simple
accounting process task.
STRUCTURE OF PAPER
The paper will be a three-hour paper divided into two sections:
Section A (50 Marks): This shall consist of 50 compulsory questions made up of 30
multiple choice questions and 20 short answer questions
covering the entire syllabus.
Section B (50 Marks): Six questions, out of which candidates are expected to answer
four, each at 12½ marks.
CONTENT
1. Accounting Processes
Preparation of accounts from incomplete records
- Receipts and payment account
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- Income and expenditure
- Extraction and adjustment of extended trial balance to include accrual prepayment,
provision for depreciation and doubtful debt (e.t.c)
- Accounting for value added tax
- Accounting treatment of fixed assets
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RECOMMENDED TEXTS
30
PAPER 6 PUBLIC SECTOR ACCOUNTING
AIM:
To examine candidates’ knowledge and understanding of
• Government Accounting (at the three-tier levels: Federal, State and Local Governments).
• the nature and required skills for the generation and presentation of accounting information for
stewardship of Government.
OBJECTIVES:
On completion of this programme of study, candidates will be able to:
(a) Discuss the role of accounting information and data, especially in Government.
(b) Appreciate the uses of government accounting information.
(c) Identify sources of government revenues and the disbursement procedures
(d) Identify the accounting concepts, bases and policies of Government
(e) Collect, process and transmit financial data on the approved formats
(f) Manage Government funds economically, efficiently and effectively in accordance with the
Constitution, laws, rules and regulations.
LINKAGES
This paper is linked to papers 1,3,5,9, 10 and 11
STRUCTURE OF THE PAPER:
The paper will be a three-hour paper divided into two sections:
Section A (50 Marks): This shall consist of 50 compulsory questions made up of 30
multiple choice questions and 20 short answer questions
covering the entire syllabus.
Section B (50 Marks): Six questions, out of which candidates are expected to answer
any four, attracting 12½ marks.
CONTENTS:
1 (a) The Constitutional, legal and administrative framework of government accounting
(Nigeria):
• The Regulatory and Constitutional provisions guiding revenue collections and
disbursement of Government Funds at the Federal, State and Local Government
Levels.
• The stipulations of the Finance (Control and Management) Act, 1958 as amended
by CAP A15 LFN 2004)
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• The provisions of Audit Act 1956 (as amended)
• Sources of revenue of the Central and Local Government, Tax and Non tax
revenue.
• Internally Generated Funds (IGF)
• Loans and Grant
• Sources of Revenue of the local government fees and fines
• District Assembly common fund, loans and grants
• Financial Administration and Regulations
- Budgeting in Government
- Methods of Budgeting
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(a) Incremental or Line-Item Budgeting
(b) Rolling Plan and Budgeting
(c) Zero Base Budgeting (ZBB)
(d) Planning, Programming and Budgeting System (PPBS)
(e) Perspective Planning
• Preparation, Evaluation and Control of Budgets:
- Internal control procedures over revenue collections and disbursement of funds
- Fund Accounting
- Sources of Government Revenues
- Authorisation of Government Expenditures and Operation of Warrants
- Operation of Departmental Vote Books and Authority– to – Incure Expenditure
• Expenditure Control in Government
- Legislative Control
- Executive Control
- Control by the Minister of Finance
- Treasury Control
- Departmental Control
• Accounting Records of Government include:
- Treasury Cash Books
- Imprest Cash Book
- Payment Voucher
- Adjustment Voucher
- Method of payment
- E-payment, E-Receipt/Ticketing
5(a) Ministerial Accounting System
- Self, Limited self and non-self Accounting unit
- Preparation and Extraction of monthly transcripts/ATRRS. (Automated
Transaction Recording and Reporting System)
- Preparation and posting of monthly payroll - IPPIS (Integrated Personnel &
Payroll Information System)
- Extraction of Variation Control Reports.
(b) Sub-Ministerial Accounting System
- Schools Accounting System
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(a) Domestic Account
(b) Boarding Account
(c) PTA Account System
(d) Foundation and Trust Account
6. Stores and Stores Accounting
7. Boards of Survey and Boards of Enquiry
8. Treasury Final Accounts:
• Preparation of Statutory Financial Statements
- Responsibility for Financial Statements (by the Accountant General)
RECOMMENDED TEXTS:
1) ATSWA Study Pack on Government Accounting
35
2) Financial Memoranda for Local Governments 1998: State and Local Government
Affairs office, The Presidency, Abuja
3) 1992 Constitution of Ghana
STRUCTURE OF PAPER:
The paper will be a three-hour paper divided into two sections.
Section A (50 Marks): This shall consist of 50 compulsory questions made up of 30multiple choice
36
Questions and 20 short answer questions covering the entire syllabus.
Section B (50 marks) six questions out of which candidates are expected to answer only four, each at
12½ marks.
CONTENTS:
1. STATISTICS
(a) Handling Statistical Data
(i) Collection of Statistical Data
- primary and secondary data
- discrete and continuous data
- sources of secondary data: advantages and disadvantages
- internal and external sources of data
- mail questionnaire, interview, observation, telephone: advantages and disadvantages of
each method.
(ii) Sampling Methods
- purpose of sampling
- methods of sampling: simple, random, stratified, systematic, quota, multistage, cluster
- advantages and disadvantages of each method
(iii) Errors and approximations
- errors, level of accuracy and approximations
- types of errors: absolute, relative, biased and unbiased.
- laws of error including simple calculations of errors in sum, difference, product and
quotient
(iv) Tabulation and Classification of Data
- tabulation of data including guidelines for constructing tables
(v) Data Presentation
- frequency table construction and cross tabulation
- charts: bar charts (simple, component, percentage component and multiple), pie chart,
Z- chart and Gantt chart
- graphs: histogram, polygon, Ogives, Lorenz curve
(b) Measures of Location
(i) Measures of Central Tendency
- arithmetic mean, median, mode, geometric and harmonic means
- characteristic features of each measure
(ii) Measures of partition
- percentiles, deciles and quartiles
(c) Measures of Variation/Spread/Dispersion
- range, mean deviation, variation, standard deviation, coefficient of variation, quartile
deviation and skewness (all both grouped and ungrouped data)
- estimation of quartiles and percentiles from Ogives
(d) Measures of Relationships
(i) Correlation (Linear)
- Meaning and usefulness of correlation
- scatter diagrams, nature of correlation (positive, zero, Negative)
- meaning of correlation coefficient and its determination and interpretation
- rank correlation such as spearman‟s rank correlation coefficient, pearson product
moment correlation.
(ii) Regression Analysis (Linear)
- normal equations/least squares method and the determination of the regression line
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- interpretation of regression constant and regression coefficients
- use of regression line for estimation purposes
(e) Time Series
(i) Meaning of time series
(ii) Basic components and the two models
(iii) Methods for measuring trend i.e. graphical, moving averages, least squares, semi-averages
(iv) Methods of determining seasonal indices i.e. average percentage, moving average, link
relative, ratio to trend and smoothening
(f) Index Numbers
(i) meaning
(ii) problems associated with the construction of index numbers.
(iii) unweighted index i.e. sample aggregative index, mean of price. relatives.
(iv) Weighted index numbers e.g. use Laspeyre, Paasche, Fisher and Marshall Edgeworth.
(g) Probability
(i) Definition of probability
(ii) Measurement (addition and multiplication laws applied to mutually exclusive, independent
and conditional events)
(iii) Mathematics expectation
(h) Estimation and Significance Testing
(i) Interval Estimation
- confidence interval concept and meaning
- confidence interval for single population mean and single population proportions.
- point estimation for mean, proportion and standard error
(ii) Hypothesis
- Concept and meaning
- types (Null and alternative)
(iii) Type I and type II errors; level of significance
(iv) Testing of hypothesis about single population mean and single proportions for small and
large samples
(v) Sampling distribution of sample means and single proportions including their standard
errors.
2. BUSINESS MATHEMATICS
(a) Functional Relationships
(i) definition of a function
(ii) types of functions: linear, quadratic, logarithmic, exponential and their solutions
including graphical treatment
(iii) applications involving cost, revenue and profit functions
(iv) break-even analysis
(v) determination of break-even point in quantity and value, significance of break-even
point.
(vi) simple linear inequalities not more than two variables including graphical approach
(b) Mathematics of Finance
(i) Sequences and series (limited to arithmetic and geometric progressions), sum to
infinity of a geometric progression (business applications)
(ii) simple and compound interests
- present value of simple amount
- present value of a compound amount
(iii) Annuities
- types of annuities e.g. ordinary and annuity due
- sum of an ordinary annuity (sinking funds)
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- present value of an annuity
(iv) Net Present Value (NPV)
(v) Internal Rate of Return (IRR)
(c) Differentiation
(i) meaning of slope or gradient or derivative
(ii) rules for differentiating the following functions: power (e.g. y=axn), product, quotient,
function of function, exponential, implicit and logarithmic functions
(iii) applications of a differential e.g. funding marginals, elasticity, maximum and minimum
values
(iv) simple partial differentiation
(d) Integration
(i) rules for integrating simple functions only
(ii) applications of integration in business e.g. finding total functions from marginal
functions, determination of consumers and producers surpluses
3. OPERATIONS RESEARCH
(a) Introduction
(i) main stages of an Operation Research (OR) project
(ii) relevance of Operations Research in business
(b) Linear Programming
(i) concept and meaning (as a resource allocation tool)
(ii) underlying basic assumptions
(iii) problem formulation in linear programming
(iv) methods of solution
- graphical methods (for 2 decision variables)
(v) interpretation of results
- Results from tableau
- Results from simplex method, shadow price, marginal value, worth of resources
- Determination of dual/shadow costs
(c) Inventory and Production Control
(i) Meaning of an inventory
(ii) Functions of inventory
(iii) Inventory costs e.g. holding cost, ordering costs, shortage costs, cost of materials.
(iv) General inventory models e.g. deterministic and stochastic model: periodic review
system and re-order level system
(v) Basic Economic Order Quantity (EOQ) model including assumptions of the model
(d) Network Analysis
(i) Critical Path Analysis (CPA) and Programme Evaluation and Review Technique
(PERT)
(ii) Drawing the network diagram
(iii) Meaning of critical path and how to determine it and its duration
(iv) Calculation of floats or spare times
(e) Replacement Analysis
(i) Replacement of items that wear gradually
(ii) Replacement of items that fail suddenly
(f) Transportation Model
(i) Nature of transportation models
(ii) Balanced and unbalanced transportation problems
(iii) Methods for funding initial basic feasible transportation cost: North West Corner
Method (NWCM), Least Cost Method (LCM), and Vogel‟s Approximation Method
(VAM)
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RECOMMENDED TEXTS:
1. ATSWA Study Pack on Quantitative Analysis
2. Adamu, S. O. and Johnson T. L.: Statistics for Beginners, Evans Nigeria
40
PAPER 8: INFORMATION TECHNOLOGY (I.T.)
AIM:
To develop a practical knowledge and understanding of the role of information and communication
technologies in an organization with special reference to the accounting functions.
OBJECTIVES:
On completion of this paper, candidates should be able to:
a. have an understanding of the roles of information technology to an organization.
b. understand the communication support systems.
c. describe the hardware and software systems of micro computers.
d. have knowledge of the main features of integrated packages with reference to word
processing, database, spreadsheet, powerpoint and other accounting packages.
e. describe the work practices for monitoring and maintaining the security of the computer
environment.
f. be well acquainted on recent development in information and communication technologies.
g. understand how accounting functions are affected by information and communication
technologies.
h. interact with the operating system.
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- Data representation, number base system (only bases 2, 4, 8, 10, 16) and their
manipulations.
- Role of information in the accounting environment
- General characteristics of information
2. Computer Systems
- Evolution of computers (Hardware only)
- Classification of computers: analog, digital, hybrid
- Characteristics of digital general purpose computers with special reference to
Microcomputers
- Advantages and disadvantages of using computers
- Types of microcomputers
3 Hardware Fundamentals
- Block diagram of basic components of a computer system showing input, CPU,
Output, secondary storage.
- Input devices: Types and their appropriate uses.
- Output devices: types and their appropriate uses.
- Storage Media types: magnetic and optical discs, and their uses.
- Central Processing Unit (CPU): composition, functions and processing
powers.
- Definition: Networking, Local Area Network (LAN). Wide Area Network (WAN),
Metropolitan Area Network (MAN), Remote Job Entry (RJE), Intranet, Extranet,
Internet
9. Systems Developments
- Approaches to Systems Development: Traditional Systems Development life Cycle
(SDLC), Prototyping, End-user developments.
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The role of micro computers in the accounting environment, role of users department.
- Computer bureau: Services provided reasons for using a bureau, advantages and
disadvantages.
RECOMMENDED TEXTS
44
45
PART III
Section A: (50 Marks)- This shall consist of 50 compulsory questions made up of 30 Multiple
Choice Questions and 20 Short Answer Questions covering the entire syllabus.
Section B: (50 Marks) - This consists Six Questions out of which candidates are expected to
answer any four. Each of the questions attracts 12.5 marks
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CONTENT
(v) Concepts of “true and fair view”, materiality, judgment and audit risks.
competence.
(i) Scope of audit function under the Companies and Allied Matters Act Cap C20 Laws of
the Federation of Nigeria, 2004; Banks and Other Financial Institutions Act 1991;
Insurance Act 2003.
Candidates are advised to refer to Acts, Legislations and Regulations, etc. that are
relevant to their home countries. For example, Nigerian candidates should refer to Acts
peculiar to Nigeria.
4. Professional Ethics
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(ii) Detailed requirements and application of professional ethics in the conduct of auditor’s
independence, objectivity and integrity as set out in ICAN’s Code of Ethics and
Conduct.
(iii) Auditors’ responsibilities with regard to confidentiality as set out in ICAN’s code of
Ethics and Conduct.
5. Auditor’s Liability
(ii) Auditor’s liability for negligence under common law, statute, civil and criminal law.
6. Internal Control
(v) Control procedures to meet specified objectives for each of the following functional
areas: purchases and trade creditors, sales and trade debtors, wages and salaries,
tangible/ fixed assets, stocks, bank receipts and payments, and cash receipts and
payments.
(vi) Application controls and general controls in computer-based systems and identification
of the objectives of each control type.
(viii) Techniques used by auditors to record and evaluate manual and computer-based
accounting systems.
(ix) Format and contents of Internal Control Questionnaire (ICQ’s) and internal Control
Evaluation Questionnaires (ICEQ’s)
(iii) Audit programmes to meet specific audit objectives with regard to the following
balance sheet items: fixed assets, investments, trade debtors, prepayments, bank and
cash, trade creditors, accruals, long-term liabilities and provisions.
(xi) Audit of intangible assets, such as goodwill, patents, trademarks, copyrights, franchise
etc.
9. Audit Practice
(ii) Evaluation of audited accounting systems using Internal Control Questionnaires, and
checklist.
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10. Audit of Computerized Systems
(i) Approach to computer audit – audit through the computer/audit round the computer
(i) Auditor General of the Federation, State and Local Government – appointment, powers
and functions.
(iii) Forms and content of auditors’ report with an unqualified opinion on the financial
statements of a company.
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(iv) Circumstances which may warrant the auditor to issue a report with:
• A Qualified opinion.
• An Adverse opinion.
• A disclaimer of opinion.
Purpose and nature of carrying out an overall review of the financial statements prior to
expressing an audit opinion and outline the purpose and nature of:
RECOMMENDED TEXTS
2. Aguolu Osita - Fundamentals of Auditing, Rex Charles & Patrick Ltd, Nimo, Anambra
State, Nigeria.
3. Okai I.J (1966) Auditing for you: National Science and Technology press csir Accra.
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To examine candidates’ knowledge and understanding of Cost Accounting Princples, Methods and
Techniques
LEARNING OBJECTIVES:
On completion of this paper, candidates are expected to be able to:
• understand the concepts and principles of cost accounting and their applications to support
management processes of planning, decision-making, and control;
• identify the various types of costs by behaviour and classification;
• collect , classify and present cost information using appropriate methods and techniques;
• relate the various costing methods to different business entities and other activities;
STRUCTURE OF PAPER:
The paper is a three –hour paper divided into two sections:
CONTENTS:
1. INTRODUCTION TO COST ACCOUNTING
(a) Definition of Cost Accounting and related terms.
(c) Value of cost information (financial and non- financial) in management decision-making
process
(d) Impact of information technology on the generation, evaluation and presentation of cost
information.
(e) Roles required of accounting technicians in collection, analysis and presentation of cost
information.
3. ELEMENTS OF COSTS
(a) Materials:
• Procurement
(b) Labour:
4. Integrated Accounts
(a) Book-keeping entries for costing systems, integrated and interlocking systems.
(b) Reconciliation of financial and cost accounting profits.
(c) Budget classifications and Chart of Accounts.
(d) Computer Assisted Costing Techniques.
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5. Costing methods
(a) Specific order costing methods – Job, Batch and Contract costing
(c) Process costing including determination of WIP, Equivalent Units, Treatment of Losses,
Gains and Accounting for Scrap
(b) Methods of determining Standard Cost and the uses of Standard Cost
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- Target Costing
- Advanced Manufacturing Technique (AMT)
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PAPER 11: PREPARING TAX COMPUTATIONS AND RETURNS
AIMS:
The aims of this paper are to examine candidates’ knowledge and understanding of:
• the meaning of taxation and various aspects of tax system (tax policy, tax law and tax
administration) of the ABWA member countries.
• tax computations for individuals and businesses resident in member countries for the
purpose of Personal Income Tax, Corporate Tax, Capital Gain Tax, Value-Added Tax and
Education Tax as applicable to member countries.
• all issues relating to filing of returns to appropriate tax authorities of (ABWA) member
countries.
OBJECTIVES:
On completion of this paper, candidates should be able to:
a. Prepare adjusted profit or loss computation for trade and vocations
b. Compute Pay As You Earn (PAYE) tax as it relates to employees
c. Prepare direct assessment on individuals
d. Prepare Companies Income Tax
e. Compute Capital Gain Tax
f. Compute Value Added Tax and Stamp Duties
g. Compute Tax on property and investment income
h. File the necessary returns to the appropriate tax authorities and
i. Attend to the queries from the State Internal Revenue Service and Federal Inland
Revenue Service as applicable in Nigeria.
STRUCTURE OF PAPER:
The paper will be a three-hour paper divided into two sections:
Section A (50 Marks): This shall consist of 50 compulsory questions made up of 30
multiple choice questions and 20 short answer questions
covering the entire syllabus.
Section B (50 Marks): Six questions, out of which candidates are expected to answer
four, each at 12½ marks
CONTENTS:
1. Background to Income Tax
• Definition and objectives of Taxation
• Principles of Taxation
• Classifications of Taxes
• Sources of Nigerian Tax Laws
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• Cessation of Trade or Business
• Reconstruction and Investment Allowance
• Payment of Minimum Tax
• Rural Investment Allowance
• Export Processing Zone Allowance
• Local Plants and Fabrication of Spare Parts
• Capital Allowances – Types of Allowances and conditions for granting
allowances
• Chargeable Profits And Tax Liability
• Exempted Incomes
• Allowable and Non- Allowable Deductions
• Education Tax- Assessment, Collection, Rates and Payment
5. Withholding Tax
• Relevant Tax Authority
• Deduction of Tax at Source
• Withholding Tax on Rent, Interest Royalty, Dividends, Directors Fee, Professional
Fees, Technical and Management fee and Contract of supplies
• Withholding Tax Rates
• Exemption from Withholding Tax
• Remittance to Tax Authorities
• Treatment of Withholding Tax Receipts
8. Education Tax
• Assessment and Collection
RECOMMENDED TEXTS
59
PAPER 12: MANAGEMENT
AIM
To examine the candidates’ knowledge and understanding of business and non- business
organizations as well as the managerial knowledge attitude and skills required to achieve efficient and
effective operations of such organization in a dynamic environment.
OBJECTIVES
At the end of this course candidates must be able to:
(a) Define and explain the nature of business and non-business organisations
(b) Understand the nature of business environment and its relevance for policy decisions of
management
(c) Understand the concept of corporate social responsibility and ethics in business and their
relevance in business environment
(d) Define and explain the basic concepts, principles theories, techniques of management and
their application to management problems
(e) Understand the nature, role, function, procedures and the inter-relationships of the organic
business functions of marketing, production personnel and accounting
(f) Understand the management of people for effective working relationships
(g) Apply strategic management principles in modern organisation
(h) Understand the importance of health and safety
(i) Identify and understand the elements of office practice and procedures
STRUCTURE OF PAPER
The paper will be a three-hour paper divided into two sections.
Section A (50 Marks): This shall consist of 50 compulsory questions made up of 30 multiple choice
Questions and 20 short answer questions covering the entire syllabus.
Section B (50 marks) six questions out of which candidates are expected to answer only four, each
attracting 12½ marks.
CONTENTS
1. Nature of Business
(a) Definition and objective of business, classification, growth and failure of business, ownership
forms, advantages and disadvantages
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2. Management theory and principles
(i) Management: Definition, nature and purpose
(ii) Management: function, level, skills and roles
(iii) Management: Art or science, Universality of Management
(iv) Measures of managerial performance, productivity, effectiveness and efficiency
(v) Schools of management thought, proponents and their applications
3. Management functions
(a) Planning: Importance, types, steps, levels, benefits, tools and barriers to effective
planning
(b) Decision making: types, process, decision making situation, decision making
techniques effective decision making
(c) Organizing: Nature, purpose, principles of organization, structure, factors determining
organization structure, delegation and span of control
(d) Coordination: Definition, types and techniques of co-ordination
(e) Controlling: Nature, purpose, control process, characteristics
And understand control techniques
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(d) Accounting function
(i) Purpose and importance
(ii) Structure of accounting department
(iii) Position within the organisation
(iv) types of accounting system
- Manual
- Computerized
(b) Leadership: nature and role of leadership in organisation ; leadership styles, leadership
effectiveness
(d) Conflict: types, development and sources of conflict; conflict outcomes; conflict
management.
6. Strategic management
(a) Definition and purpose of strategic management; strategic management process;
SWOT analysis.
RECOMMENDED TEXTS
1. ATSWA Study Pack on Management
2. Adewunmi Wole - Business Management – An Introduction, Macmillan Publishing Company.
OTHER REFERENCE BOOK
1. Cole, C. A. - Strategic Management, Initiative Growth, London
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