Financial Accounting May/June 2015

Candidates' Weaknesses

Some of the weaknesses observed were:

-        Candidates’ inability to answer question in bank reconciliation statement, classification of accounting ratios and manufacturing accounting terms;
-        Lack of proper understanding of the basic principles of accounting;
-        Non-coverage of syllabus before registering for the examination;
-        Inadequate preparation for the examination;
-        Candidates make used of abbreviation like B.S for (Balance Sheet),
C. L. for (current Liability) F. A. for (Fixed Asset), etc.;
-        poorly used of English Language in explaining their points.

SUGGESTED REMEDIES

-        The teaching of the basic principles of Financial Accounting must be emphasized in schools.
-        Candidates should prepare very well by covering all aspects of the syllabus before writing the examination.
-        Teachers should make use of past question papers as a revision exercise and educate the candidates on what is required for each question.
-        Qualified teachers should be employed to teach the subject.
-        Candidates should be taught to write in full instead of abbreviations.