Candidates' Weakness
Some of the weaknesses observed were:
- Candidates inability to answer question 3 which is to outline/distinguish the candidates inability to prepare Statement of Affairs, Subscription Account and Income and Expenditure Account;
- Lack of proper understanding of the basic principles of accounting;
- Non-coverage of syllabus before registering for the examination;
- The use of unapproved and non generally accepted abbreviation such as GP for Gross Profit, NP for Net Profit CL for Current Liabilities;
- Poorly use of English Language in explaining their points;
- Candidates inability to use correct accounting terminologies.
SUGGESTED REMEDIES
- Candidates should be conversant with accounting terminologies and their definitions.
- 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.
- Teachers should discourage the candidates from the use of abbreviations in their answers to questions.