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SS2 Accounting Past Questions and Answers

FIRST TERM

Manufacturing Account: Meaning/Definition

Uses of Manufacturing Account

Manufacturing Account: Terminologies Used

Computation of: Cost of Raw Materials Available For Use, Cost of Raw Materials Consumed & Prime Cost of Production

Preparation of Trading, Profit And Loss Account, Manufacturing Account, And Balance Sheet

Transfer of Goods Manufactured From The Manufacturing Department To The Sales Department

Account of Non-Profit Making Organization: Introduction

Receipts And Payment Account: Features And Limitations

Preparation of Receipts And Payment Account

Income And Expenditure Account: Meaning

Differences Between Receipts And Payment Accounts And Income And Expenditure

Preparation of Income And expenditure account

Differences Between Bank Statement And Reconciliation Statement

Causes of Discrepancies Between Cash Book And Bank Statement

Bank Reconciliation Statement: Preparation of Adjusted Cash Book

Revisit Account Control: Sales Ledger Control Account

Purchases Ledger Control Account

Partnership Account: Meaning/Definition

Partnership Account: Terminologies Used

Partners’ Capital Account

The Profit And Loss Account of Partnership

Partnership Profit And Loss Account And Balance Sheet of Partners

Partnership Account: Admission of New Partners - Meaning

Reasons For Admission of New Partners

Goodwill: Meaning

Valuation of Goodwill

Revaluation of Assets

Preparation of Revaluation Account And Balance Sheet

Dissolution of Partnership: Meaning

Dissolution Procedures

SECOND TERM

Reasons For Dissolution of Partnership

Incomplete Records (Single Entry): Meaning/Definition

Features of Single Entry

Single Entry Disadvantages/Limitations

Computation of Profits From Two Balance Sheets Showing The Opening And Closing Capital

Incomplete Records: Preparation of Statement of Affairs - Calculation of Profit

Conversion of Single Entry

Interpretation of Accounts Using Simple Accounting Ratios Equity: Capital Employed

Interpretation of Accounts Using Simple Accounting Ratios Equity: Working Capital

Ratio of Working Capital To Capital Employed

Ratio of Equity To Capital Employed

THIRD TERM

Companies And Allied Matters Act 1990 Relating To Formation of Companies

Terminologies Used In A Company Account

Memorandum of Associations

Articles of Association

Types of Companies - Private Company: Definition And Features

Types of Companies - Public Company: Definition And Features

Distinctions Between Public And Private Companies

Quoted Companies: Definition, Features, And Examples

Unquoted Companies: Definition And Features

Distinctions Between Quoted And Unquoted Companies

Company Account - Financial System: Definition

Components of Financial System E.g. Banks, Insurance, NSE, SEC, CSCS

Money Market: Definition And Key Functions

Features of Money Market (Short Term)

Methods: Offer For Sales, Offer For Subscription, Right Issues, Private Placement

Benefits of Capital Markets: Benefits To Individual Investors

Benefits of Capital Markets: Benefits To Government

Benefits of Capital Markets: Benefits To The Economy

Benefits of Capital Markets: Benefits To Individual Companies

Issues of Shares: Terminologies Used

Preparation of Shares Accounts, Application Account, Allotment Account, And Calls Accounts

Preparation of Cash/Bank Account, Share Premium Account, Share Discount Account, Share Capital Accounts

Loan Capital: Terminologies Used

Loan Capital: Debentures

Loan Capital: Interest

Loan Capital: Mortgage

Profit And Loss Appropriation Account: - Amount Written Off

Regulation of The Capital Market: Meaning And Reasons For Regulations

Regulation of The Capital Market: Types of Regulations

Regulation of The Capital Market: Statutory Regulation

Self-Regulation Stock Exchanges

Nigeria Stock Exchange: Meaning And Features

The Abuja Stock And Commodity Exchange