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Ledgers and balancing accounts

JAMB Financial Accounting Revision Notes

All Financial Accounting topics
  1. Foundations of Accounting
    1. Meaning, purpose and users of accounting
    2. Accounting concepts and ethics
    3. The accounting equation
  2. Recording Transactions
    1. Source documents and books of original entry
    2. Double entry and debit and credit rules
    3. Ledgers and balancing accounts
    4. The trial balance
  3. Cash and Bank
    1. The cash book
    2. Petty cash and the imprest system
    3. Banking documents
    4. Bank reconciliation
  4. Errors and Control Accounts
    1. Types of accounting errors
    2. Suspense accounts and correction of errors
    3. Control accounts
  5. Final Accounts of a Sole Trader
    1. Trading account and cost of sales
    2. Profit and loss account
    3. Statement of financial position
    4. Accruals and prepayments
    5. Bad debts and allowance for doubtful debts
    6. Final accounts with adjustments
  6. Non-current Assets and Inventory
    1. Depreciation
    2. Disposal of non-current assets
    3. Inventory valuation
  7. Partnership Accounts
    1. Partnership agreement and appropriation account
    2. Partners' capital and current accounts
    3. Admission of a partner and goodwill
    4. Retirement and dissolution of partnership
  8. Manufacturing, Non-profit and Incomplete Records
    1. Manufacturing accounts
    2. Receipts and payments accounts
    3. Income and expenditure accounts
    4. Single entry and statement of affairs
    5. Incomplete records
  9. Company Accounts
    1. Introduction to company accounts
    2. Share capital, reserves and dividends
  10. Interpretation and Computerised Accounting
    1. Accounting ratios
    2. Interpretation of financial statements
    3. Computerised and spreadsheet accounting
  11. Specialised Accounts
    1. Departmental accounts
    2. Branch accounts
    3. Joint venture accounts
    4. Public sector accounting

GRO Academy notes Checked by imtiaz ahmed 2 min read Updated October 19, 2026

How the ledger is organised, how entries are posted, and how accounts are balanced and carried forward.

In these notes
  1. The ledger
  2. Classes of account
  3. Divisions of the ledger
  4. Balancing an account
  5. At the year end

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