NECO Financial Accounting: topics to study
22 topics in 5 sections. In NECO SSCE, most subjects have an objective (multiple-choice) paper and a theory or essay paper, and science subjects also have a practical.
How to study Financial Accounting for NECO
Financial Accounting is a practical subject. Work through full questions (ledgers, trial balances, final accounts) by hand until the layouts are automatic.
NECO Financial Accounting topics
1.Foundations
- Nature and purpose of accounting
- Accounting concepts and conventions
- Source documents
- Books of original entry
2.Double Entry and Ledgers
- Double-entry bookkeeping
- The ledger
- Trial balance
- Errors and suspense accounts
- Bank reconciliation
- Control accounts
3.Final Accounts
- Final accounts of a sole trader
- Adjustments (accruals, prepayments, bad debts)
- Depreciation
- Incomplete records
4.Other Organisations
- Partnership accounts
- Company accounts
- Accounts of not-for-profit organisations
- Manufacturing accounts
- Departmental and branch accounts
5.Analysis and Public Sector
- Interpretation of accounts (ratios)
- Public sector accounting
- Computerised accounting
This outline follows the structure of the official syllabus. Check the current Financial Accounting syllabus on the NECO website for this year's exact list and any set texts.
More NECO subjects
- English
- Mathematics
- Biology
- Chemistry
- Physics
- Economics
- Government
- Literature in English
- Geography
- Commerce
- Christian Religious Studies
- Islamic Religious Studies
Financial Accounting for other exams: JAMB, WAEC, Post-UTME.