What to Study for UTME JAMB Principles of Accounts Syllabus 2026

So, you’re preparing for JAMB Principles of Accounts (POA) 2026, and you might be feeling a little stressed. I get it; this subject can look tough at first, especially with all the numbers, journals, ledgers, and final accounts. But here’s the thing: if you know exactly what’s in the syllabus and focus on the right topics, POA becomes way easier.

Principles of Accounts isn’t just about memorizing rules or copying numbers. It’s about understanding how money flows in a business, how transactions are recorded, and how to prepare reports that show a business’s financial health. And guess what? these skills are useful in everyday life, like keeping track of your pocket money, a small business, or even school fees.

In this guide, I’ll break down the JAMB POA syllabus 2026 topic by topic, explain concepts in simple words, give relatable examples, and show you tips to study smarter. By the end, you’ll know exactly what to focus on, what mistakes to avoid, and how to tackle your exam confidently.

Before we dive in, let me ask you: have you ever tried studying accounting and felt lost because everything seemed like numbers on paper? That’s exactly why this guide exists, to make everything clear and practical.

Read also: JAMB Syllabus 2026 for All Subjects: What to Read Before the Exam

Understanding JAMB Principles of Accounts

What Principles of Accounts is About

Principles of Accounts (POA) is all about tracking money in a business. It shows how a business earns, spends, and saves money. But you don’t have to be running a business to understand it; the concepts also apply to school clubs, small businesses, or even your personal finances.

In JAMB, you’ll see questions on:

• Recording transactions – how money moves in and out
• Preparing reports – like trial balances, profit and loss accounts, and balance sheets
• Understanding basic accounting concepts – like assets, liabilities, revenue, and expenses

Think of it this way: if your school collects money for PTA or a sports event, keeping proper records and knowing how much is left is exactly what POA teaches.

Why Following the Syllabus Matters

Here’s the truth: many students study POA randomly and end up stressed before exams. JAMB gives you a syllabus that clearly lists what topics to focus on, so you don’t waste time on irrelevant areas.

By following the syllabus, you will:

• Focus only on topics that are likely to appear in the exam
• Build confidence because you know what to study
• Avoid spending hours on topics like advanced accounting methods that rarely appear in UTME

Accounting Basics

Definition of Key Accounting Terms

Before you start recording transactions or preparing accounts, you need to understand basic accounting terms. Here’s a simple way to remember them:

1. Assets – things a business owns that have value.
   • Example: cash, school fees collected, computers, or even a car.
2. Liabilities – what a business owes to others.
   • Example: money borrowed from a bank or school fees you haven’t paid yet.
3. Capital – the owner’s money or investment in the business.
   • Example: money your parents give you to start a small school business.
4. Revenue – money earned by the business.
   • Example: money collected from selling snacks in school.
5. Expenses – money spent to run the business.
   • Example: buying ingredients for snacks or paying for printing materials.

Quick Tip: A simple trick to remember:

• Assets = Liabilities + Capital
• Everything the business owns is either borrowed (liabilities) or owned by the owner (capital).

The Accounting Equation

The accounting equation is the backbone of POA. Every transaction must balance according to:

Assets = Liabilities + Capital

Example:

• You start a school shop with ₦5,000 from your pocket.
  • Assets: Cash ₦5,000
  • Liabilities: ₦0 (you didn’t borrow money)
  • Capital: ₦5,000 (your own money)
• Later, you borrow ₦2,000 from a friend.
  • Assets: Cash ₦7,000 (₦5,000 + ₦2,000)
  • Liabilities: ₦2,000 (owed to friend)
  • Capital: ₦5,000 (your own)

See how assets always equal liabilities plus capital? That’s the magic of the accounting equation.

Story to Relate: Imagine you’re running a small school tuckshop. You keep track of how much you have, how much you owe, and how much belongs to you. Every day you record it properly, your “accounts” are correct, and at the end of the week, you know your profit. That’s exactly what JAMB wants you to understand.

Books of Original Entry

Books of original entry are where all business transactions are first recorded. Think of them as the first stop before everything goes into the ledger. If this step is wrong, the rest of the accounts will be wrong too.

Journals

A journal is a book where you record transactions in the order they happen. Each entry shows:

• Date of transaction
• Accounts affected (debit and credit)
• Amount
• Narration (short description of what happened)

Example:
You bought stationery for ₦2,000 in cash for your school club:

Date	Account Debited	Account Credited	Amount	Narration
12/01/2026	Stationery Expense	Cash	2,000	Bought stationery for club

Quick Tip: Remember “Debit what comes in, credit what goes out”. It’s a simple way to know which side to record.

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Subsidiary Books

Subsidiary books are special journals used to record similar types of transactions. They make it easier to organize accounts. Some common ones for JAMB:

1. Cash Book – records all cash receipts and payments
2. Sales Book – records all credit sales
3. Purchases Book – records all credit purchases
4. Petty Cash Book – records small daily expenses
5. Returns Books – records sales and purchases returns

Example: Cash Book for a school tuckshop:

Date	Details	Cash In	Cash Out	Balance
01/01/26	Cash from Sales	5,000	–	5,000
02/01/26	Bought snacks	–	2,000	3,000

Tip: Practice recording transactions in both journals and subsidiary books. This is a favorite area for JAMB multiple-choice and structured questions.

Read also: Why studying the JAMB syllabus is important in 2025/2026

Ledger Accounts

A ledger is where all transactions from journals and subsidiary books are posted and organized by account. Think of it as sorting your transactions so you can see the balance of each account clearly.

Posting from Journal to Ledger

Here’s how it works step by step:

1. Identify accounts affected in the journal
   • Example: Bought stationery for ₦2,000 cash
     • Debit: Stationery Expense
     • Credit: Cash
2. Open ledger accounts for each account
   • One for Stationery Expense
   • One for Cash
3. Post the amounts under debit or credit
   • Debit: what comes in or increases an expense
   • Credit: what goes out or increases liability

Example Table: Ledger Accounts

Stationery Expense Ledger

Date	Details	Debit	Credit	Balance
12/01/26	Cash	2,000	–	2,000

Cash Ledger

Date	Details	Debit	Credit	Balance
12/01/26	Stationery Exp	–	2,000	3,000

Tip: Always check that total debits = total credits for accuracy.

Balancing Ledger Accounts

Balancing a ledger is simple:

1. Add all debits
2. Add all credits
3. Subtract the smaller total from the larger to find the balance
4. The balance is carried down (c/d) to the next page or period

Example:

Cash Ledger:

Debit	Credit
5,000	2,000

Balance = 5,000 – 2,000 = 3,000 (closing balance)

Trial Balance

A trial balance is a statement that shows all the ledger account balances at a particular time. Its purpose is to check that total debits equal total credits. Think of it as a way to make sure your accounts are correct before preparing final accounts.

Preparing a Trial Balance

Here’s how to do it step by step:

1. List all ledger accounts with their balances
2. Separate debit and credit balances into two columns
3. Add each column
4. Check that total debits = total credits

Example Table: Simple Trial Balance

Account	Debit (₦)	Credit (₦)
Cash	3,000	–
Stationery Expense	2,000	–
Capital	–	5,000
Accounts Payable	–	500
Total	5,000	5,000

Notice how total debits = total credits. That means your ledger accounts are likely correct.

Errors and Corrections

Sometimes, the trial balance doesn’t balance, meaning total debits ≠ total credits. Common reasons include:

• Recording an amount on the wrong side (debit instead of credit)
• Leaving out a transaction
• Posting the wrong amount from the journal to the ledger

How to fix:

1. Check each ledger balance carefully
2. Compare with the journal entries
3. Correct mistakes and recalculate totals

Story: Imagine you recorded buying snacks for ₦200 as ₦2,000 in the cash book. Your trial balance won’t balance. Spotting this mistake early saves you from confusion later when preparing final accounts.

Final Accounts

Final accounts are prepared at the end of an accounting period to show how a business has performed and its financial position. In JAMB, you’ll often see Trading & Profit & Loss Account and Balance Sheet questions.

Trading and Profit & Loss Account

1. Trading Account – shows the gross profit or loss of a business.
   • Gross Profit = Sales – Cost of Goods Sold
   • Includes opening stock, purchases, and closing stock
2. Profit & Loss Account – shows net profit or loss after including expenses and additional income

Example:

Trading Account for XYZ School Club (Jan 2026)

Particulars	₦	Particulars	₦
To Opening Stock	1,000	By Sales	6,000
To Purchases	3,000	By Closing Stock	1,500
Gross Profit c/d	3,500

Profit & Loss Account

Particulars	₦	Particulars	₦
To Rent Expense	500	By Gross Profit b/d	3,500
To Salaries Expense	1,000
Net Profit c/d	2,000

Tip: Gross profit appears in P&L as starting point, then deduct expenses to get net profit.

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Balance Sheet

Balance Sheet shows the financial position of a business at a point in time. It lists assets and liabilities, including capital.

Example: XYZ School Club Balance Sheet (Jan 2026)

Assets	₦	Liabilities & Capital	₦
Cash	3,000	Capital	5,000
Stock	1,500	Liabilities (Payables)	500
Total Assets	4,500	Total Liabilities & Capital	5,500

Quick Tip: Always remember:
Assets = Liabilities + Capital. This is the same as the accounting equation we studied earlier.

Accounting for Non-Trading Concerns

Non-trading concerns are organizations that don’t aim to make profit. Examples include school clubs, churches, mosques, NGOs, or charity groups. In JAMB, you’ll often be asked about Receipts & Payments Accounts and Income & Expenditure Accounts.

Receipts and Payments Account (R&P Account)

• This is a simple cash account that records all cash received and paid out.
• It is not like profit-making accounts, there’s no concept of profit or loss here.

Example: School Sports Club (Jan 2026)

Date	Particulars	Receipts (₦)	Payments (₦)
01/01/26	Cash from Members	5,000	–
05/01/26	Bought Jerseys	–	2,000
10/01/26	Donations	1,000	–
Balance c/d		6,000	2,000

Tip: R&P accounts only track cash, and balances carry forward to the next period.

Income and Expenditure Account (I&E Account)

• This is similar to a Profit & Loss Account, but for non-profit organizations.
• Shows surplus or deficit (instead of profit or loss).
• Adjusts for accruals and prepaid items, unlike R&P which is cash-only.

Example: School Sports Club (Jan 2026)

Particulars	₦	Particulars	₦
To Salaries Expense	1,000	By Subscriptions	5,000
To Jerseys Expense	2,000	By Donations	1,000
Surplus c/d	3,000

Story: Imagine your school club collects money for an event. The R&P account tells you how much cash came in and out, while the I&E account shows if you have extra funds left (surplus) or overspent (deficit).

Accounting Concepts and Principles

Accounting isn’t just about numbers; it’s guided by basic rules and principles. Understanding these helps you record transactions correctly and answer conceptual questions in JAMB.

Basic Accounting Concepts

1. Accrual Concept
   • Revenue and expenses are recorded when they are earned or incurred, not when cash changes hands.
   • Example: You earned ₦1,000 from selling snacks in December but receive the cash in January. You record it in December.
2. Going Concern Concept
   • Assumes the business will continue operating indefinitely.
   • Example: Your school tuckshop is assumed to run next term, so equipment value is recorded as an asset, not something you’ll sell immediately.
3. Consistency Concept
   • Once you choose a method of recording or valuation, you should continue using it.
   • Example: If you always use the same method to value closing stock, don’t suddenly switch to a different method just to change results.
4. Prudence Concept
   • Don’t overstate assets or income, and don’t understate liabilities or expenses.
   • Example: If you are unsure about a donation coming in, don’t record it until confirmed.
5. Dual Aspect Concept
   • Every transaction affects at least two accounts: debit and credit.
   • Example: Buying stationery for ₦2,000 cash → Debit Stationery Expense, Credit Cash.

How They Apply in Real Life

• Accrual: Your school fees for the next term aren’t recorded yet, they’ll be recognized when due.
• Going Concern: Treat your small tuckshop as ongoing, so assets aren’t immediately “sold off”.
• Consistency: Always record club expenses the same way every term.
• Prudence: Don’t count uncertain donations as income.
• Dual Aspect: Every transaction always balances, what comes in and what goes out.

Tip: In JAMB, conceptual questions often ask you to identify the principle applied, e.g., “Which concept prevents overestimating income?” The answer is Prudence.

Bank Reconciliation Statements (BRS)

A Bank Reconciliation Statement is a statement that explains the difference between the balance in the cash book and the balance shown in the bank statement.

Why is it important?

• Sometimes the bank records transactions that the business hasn’t updated in the cash book, and vice versa.
• BRS helps identify errors, unrecorded transactions, and timing differences.

Steps to Prepare a Bank Reconciliation Statement

1. Compare the cash book with the bank statement
   • Check all deposits and withdrawals.
2. Identify differences
   • Examples:
     • Cheques issued but not yet presented
     • Bank charges not recorded in cash book
     • Deposits in transit
3. Adjust the cash book balance to match the bank statement
4. Prepare the reconciliation statement showing adjustments

Example: XYZ School Club

• Cash Book Balance: ₦5,000
• Bank Statement Balance: ₦4,500

Differences Identified:

• Cheque issued but not yet presented: ₦700
• Bank charges not recorded: ₦200

Bank Reconciliation Statement:

Particulars	Amount (₦)
Cash Book Balance	5,000
Less: Bank charges not recorded	200
Add: Cheque issued not yet presented	700
Adjusted Cash Book Balance	5,500

Quick Tip: Always remember “Add deposits in transit, subtract unrecorded charges or payments”. That way, you’ll reconcile easily.

Control Accounts and Debtors/Creditors

Control accounts help businesses keep track of totals in the ledger without checking every individual account. In JAMB, you’ll often see questions on debtors (people who owe you money) and creditors (people you owe money).

Control Accounts

• A Control Account is a summary account in the ledger that shows the total of all individual accounts for debtors or creditors.
• Helps catch errors and makes reconciliation faster.

Example:

• Total amount owed by all customers (debtors) = ₦10,000
• Instead of checking each customer individually, a Debtors Control Account shows the total ₦10,000.

Debtors Control Account Example:

Particulars	Debit (₦)	Credit (₦)
Balance b/d	8,000	–
Credit Sales	4,000	–
Cash Received	–	2,000
Balance c/d	10,000	–

Managing Debtors and Creditors

Debtors (people who owe you money)

• Record each debtor in a Debtors Ledger
• Summarize in Debtors Control Account
• Helps track who has paid and who hasn’t

Creditors (people you owe money)

• Record each creditor in a Creditors Ledger
• Summarize in Creditors Control Account
• Helps track payments you must make

Example:

• You sold snacks to three friends on credit: ₦500, ₦300, and ₦200.
• Instead of checking each transaction separately, the Debtors Control Account shows total ₦1,000 owed.

Tip: Always check that the total of individual debtor/creditor accounts = control account balance. JAMB loves testing this.

Exam Strategies for JAMB Principles of Accounts

Using the Syllabus Effectively

The JAMB syllabus is your map for what to study. Following it saves you from wasting time on unnecessary topics.

How to use it:

1. Break topics into small chunks – don’t try to study everything at once.
   • Example: Monday – Accounting Basics; Tuesday – Journals & Subsidiary Books; Wednesday – Ledger & Trial Balance.
2. Focus on high-weight areas – topics that appear frequently:
   • Journals & Subsidiary Books
   • Ledger Accounts
   • Trial Balance & Final Accounts
   • Bank Reconciliation Statements
3. Check off topics as you finish – it keeps you motivated and organized.

Tip: Keep a printed syllabus handy and tick topics after revision. It’s like a checklist for success.

Practicing Past Questions

Past questions are your best guide to exam success. They help you:

• Recognize common question patterns
• Build speed for the 60 questions in 60 minutes exam
• Identify topics you struggle with

How to study past questions:

1. Try solving questions first without looking at answers
2. Check your answers and note mistakes
3. Focus more on topics where you make mistakes
4. Repeat until you feel confident

Read also: Use of English JAMB Syllabus 2026: Full Guide for UTME Candidates

Story: Many students think POA is difficult, but those who practice past questions consistently often score above 70% because they know exactly how JAMB asks questions.

Tips for Exam Day

• Time management: Spend about 1 minute per question. Don’t get stuck on hard ones.
• Read questions carefully: Sometimes JAMB asks conceptual questions, not calculations.
• Show workings: Even in multiple-choice questions, writing down your calculation can help you avoid mistakes.
• Check answers quickly: If time permits, verify your numbers and balances.

Common Mistakes Students Make

Ignoring the Basics

Many students think basic topics are too easy and skip them. But JAMB often tests fundamental areas repeatedly.

Common basics that students ignore:

• Accounting terms like assets, liabilities, capital, revenue, and expenses
• Accounting equation (Assets = Liabilities + Capital)
• Difference between Trading & Profit & Loss and Balance Sheet

Story: One student spent a week learning complicated ledger adjustments but missed 5 marks because he couldn’t answer simple questions on the accounting equation.

Tip: Revise basics every week, even if you think you know them.

Poor Time Management

Another mistake is studying randomly or cramming the night before the exam. This leads to stress and forgetting important formulas or steps.

Tips to fix this:

1. Create a daily study timetable and stick to it.
2. Break topics into small chunks: e.g., Journals today, Ledger tomorrow.
3. Practice timed past questions to get used to exam speed.

Example Plan:

• Monday: Accounting Basics + Journals
• Tuesday: Ledger Accounts + Trial Balance
• Wednesday: Final Accounts + Non-Trading Concerns
• Thursday: Bank Reconciliation + Control Accounts
• Friday: Accounting Concepts + Past Questions
• Saturday: Weak areas review

Other Mistakes to Avoid

• Memorizing without understanding: You’ll forget formulas or steps if you don’t know the logic.
• Skipping past questions: JAMB loves to repeat question patterns.
• Careless arithmetic errors: Always double-check numbers, especially in Ledger, Trial Balance, and Final Accounts.

FAQs: JAMB Principles of Accounts 2026

Conclusion

So, there you have it: a complete guide on what to study in JAMB Principles of Accounts 2026. If you follow this guide, you’ll know exactly what topics to focus on, how to study smart, and how to avoid common mistakes.

Remember:

• Understand, don’t just memorize. If you know why something works, you can answer any question about it.
• Follow the syllabus. It’s your roadmap. Focus on high-weight areas like journals, ledgers, trial balance, final accounts, bank reconciliation, and accounting concepts.
• Practice past questions. They show patterns, build speed, and highlight areas you need to improve.
• Use real-life examples. Relate concepts to school clubs, tuckshops, pocket money, or personal savings, it makes them easier to remember.
• Stay consistent. A little study every day beats cramming the night before.

Imagine this: exam day comes, and instead of feeling stressed, you walk in confident because you know exactly what to expect. You can answer questions faster, remember concepts clearly, and even spot tricky ones because you practiced. That’s the power of following the syllabus and studying smart.

Your action plan:

1. Print or download the JAMB POA 2026 syllabus.
2. Break topics into small daily study sessions.
3. Make simple tables or flashcards for journals, ledger, and accounts.
4. Do past questions weekly and track mistakes.
5. Review weak areas repeatedly until confident.

If you do these things, scoring high in JAMB Principles of Accounts is completely possible. The subject may seem tricky at first, but step by step, it becomes manageable and even enjoyable.