WAEC Book-Keeping Syllabus 2026/2027 & Textbooks

By WAEC2026 October 26, 2025 Blog, WAEC Syllabus 2026 0 Comments

The official WAEC Book-Keeping Syllabus 2026/2027 covers Key topics like bookkeeping principles, ledger accounts, and financial statements, based on the general syllabus structure. You can also look for recommended textbooks from the official syllabus or through WAEC-accredited sources once it is published.

Book-Keeping in WAEC Examination Guide.

The main aim of the WAEC Bookkeeping exam is to assess candidates’ understanding and practical skills in the subject. Specifically, it seeks to develop knowledge of the basic skills required to start a business, promote an appreciation of the rules and functions of bookkeeping, and encourage the application of bookkeeping principles to modern business operations.

The exam consists of two papers, both taken in one sitting.

Paper 1 is made up of forty multiple-choice questions to be answered within fifty minutes for a total of forty marks.

Paper 2 is divided into two sections. Section A focuses on the Theory of Bookkeeping and contains four questions, out of which candidates must answer two for twenty marks.

Section B covers the Practice of Bookkeeping and includes five questions, from which candidates are required to answer three for sixty marks. This paper lasts two hours.

WAEC Book-Keeping Syllabus 2026/2027

	WAEC BOOK KEEPING SYLLABUS
SN	TOPICS	OBJECTIVES
1	INTRODUCTION TO BOOK KEEPING	i. Meaning of BookKeeping – Definition, history, nature, importance, and functions of Book Keeping – Career opportunities and beneficiaries of bookkeeping; – Qualities and values of bookkeepers. ii. Assets and Liabilities: – Definition, differences, classification, and examples of Assets and Liabilities. iii. Business Transactions: – Meaning and types of business transactions; – Parties involved in business transactions. iv. Classification of Accounts: – personal accounts (debtors and creditors); – Impersonal accounts (real and nominal). v. Source Documents – Definition, identification, types, and uses of source documents.
2	CONCEPTS AND CONVENTIONS	i. Definition ii. Identification and the differences between concepts and conventions.
3	BOOKS OF ORIGINAL ENTRY	i. Definition ii. Purpose iii. Types iv. Format, uses, and preparation of Books of Original entry
4	LEDGER AND PRINCIPLES OF DOUBLE ENTRY	i. Ledger: – definition, classification, format, uses and preparation of ledgers. ii. Principles of Double Entry: – Meaning, history, rules, and making double entries.
5	CASH BOOK	i. Meaning, purpose, description, differences, and preparation of: – Single column – Double column – Three column – Petty cash book
6	BANK RECONCILLATION STATEMENT	i. Meaning and purpose ii. Terminologies and banking documents iii. Causes of differences between cash book and bank statement balance
7	TRIAL BALANCE AND ERRORS	i. Meaning and functions of trial balance ii. Rules and preparation of trial balance iii. Meaning, types, classification of errors iv. Correction of errors and preparation of Suspense Account
8	FINANCIAL STATEMENT OF SOLE PROPRIETORSHIP	i. Trading Account – Definition, purpose, format and preparation of simple Trading Account – Methods of valuing stock (FIFO and LIFO). ii. Profit and Loss Account – Definition, purpose, format and preparation of Profit and Loss Account iii. Balance Sheet – Meaning, content, format and preparation of a simple balance sheet.
9	ADJUSTMENT TO FINANCIAL STATEMENT	i. Adjustment for prepayments, accruals, depreciation, bad and doubtful debts; ii. Meaning and methods of depreciation (straight line and reducing balance).
10	CONTROL ACCOUNTS	i. Meaning and preparation of Sales Ledger and Purchases Ledger Control Accounts.
11	SINGLE ENTRY AND INCOMPLETE RECORDS	i. Meaning, limitations and preparation of final accounts from incomplete records
12	ACCOUNTS FOR NOT-FOR-PROFIT MAKING ORGANIZATION	i. Purpose, content and preparation of Receipts and Payments Accounts, Income and Expenditure Account.
13	PATNERSHIP ACCOUNTS	i. Meaning and terms ii. Partnership deed, drawings, interest on capital, interest on drawings iii. Preparation of Capital and Current Accounts, Profit and Loss and Appropriation Account and Balance Sheet iv. Admission of new partners and Goodwill Account.
14	JOINT VENTURE ACCOUNTS	i. Meaning and purpose ii. Differences between joint venture and partnership
15	DEPARTMENTAL AND BRANCH ACCOUNTS	i. Importance and differences ii. Preparation of Departmental and simple Branch Accounts.
16	INTRODUCTION TO COMPANY ACCOUNTS	i. Formation and terminologies ii. Preparation of simple financial statements.
17	INTERPRETATION OF ACCOUNTS	i. Purpose and computation of ratios ii. Net profit margin iii. Stock turnover iv. Quick ratio v. Acid test ratio vi. Gross profit margin vii. Return on capital employed
18	PURCHASE OF BUSINESS	i. Reasons, terminologies and preparation of accounts related to purchase and sale of business.
19	CONSIGNMENT ASSOCIATE	i. Terminologies and preparation of simple Consignment Accounts.
20	HIRE PURCHASE	i. Meaning and preparation of accounts in the seller’s and hirer’s books.
21	CONTRACT ACCOUNTS	i. Meaning, purpose and terminologies ii. Preparation of Contract Accounts.
22	COOPERATIVE ACCOUNTS	i. Meaning and objectives of cooperative societies.

WAEC Book-KeepingTextbooks 2026/2027

Business Accounting Vol.1 and 2 F. Wood
Book-keeping and Accounts (ELBS) Spicer & Peggler
Introduction to Accounting for Business Studies F.P. Langley
Accounting I and II Jennings
Essential Financial Accounting for Senior Secondary School O.A Longe and R.A. Kezeem

About Author

WAEC2026

Add a Comment