Syllabus Review for September 2017 Diet

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Who is the Chairman of the ATSWA Examinations Committee?

Mr. Rotimi Akanni Omotoso

Deacon Solomon Oluwole. Adeleke (correct)

Mr. Ikhiegbia Braimoh Momoh

Mr. John Adeniyi Adeyemo

Who is the Principal Manager and Head of the ATSWA Examinations Department?

Mr. John Adeniyi Adeyemo (correct)

Mr. Rotimi Akanni Omotoso

Mr. Ikhiegbia Braimoh Momoh

Mr. John Irabor Evbodaghe

What was the purpose of the team constituted after the approval of the new syllabus?

To review the Study Texts in line with the syllabus (correct)

To develop a new syllabus

To create a new editorial board

To undertake a comprehensive review of the ICAN Examinations Committee

Who is the Registrar/Chief Executive of ICAN?

Mr. Rotimi Akanni Omotoso Signup and view all the answers

What is the title of the page numbered 'i' in the Study Text?

TITLE PAGE Signup and view all the answers

What is the institution of Mr. Moses Akinlabi Odedoyin?

Osun State College of Education Signup and view all the answers

Who wants to know about the business's ability to pay for goods supplied promptly?

Trade payables Signup and view all the answers

Who needs accounting information to decide how secure their job is?

Employees of the entity Signup and view all the answers

Who analyzes financial statements for their clients?

Financial analysts Signup and view all the answers

Who wants to know about the quality of the products of the business?

Customers Signup and view all the answers

Who needs accounting information to determine tax payable by the entity and its employees?

Tax authority Signup and view all the answers

Who wants to know about the liquidity and profitability of the entity?

Lenders Signup and view all the answers

What is the primary objective of Chapter Thirteen?

To ascertain profit from incomplete records Signup and view all the answers

What is the title of Chapter Fourteen?

Accounting for Not-for-Profit Organisations Signup and view all the answers

What is the title of Chapter Fifteen?

Use of Computer Application Packages in Accounting Signup and view all the answers

What is the primary objective of the course 'Basic Accounting Processes and Systems'?

To develop an appreciation of the role of accounting information Signup and view all the answers

What is the focus of Section 13.3.1?

Preparation of Statement of Affairs Signup and view all the answers

What is discussed in Section 14.4?

Membership Subscription Signup and view all the answers

What is the title of the course?

Basic Accounting Processes and Systems Signup and view all the answers

What is discussed in Section 15.5?

Payroll System Signup and view all the answers

What is the primary aim of Chapter Thirteen?

To ascertain profit from incomplete records Signup and view all the answers

What is discussed in Section 14.2?

Receipts and Payments Accounts Signup and view all the answers

What is a characteristic of a sole-proprietorship?

The owner has unlimited liability Signup and view all the answers

What is the maximum number of partners allowed in a firm?

Twenty Signup and view all the answers

What happens to a sole-proprietorship upon the death of the owner?

It is automatically dissolved Signup and view all the answers

What is the purpose of a partnership, as stated in the Partnership Act 1890 and the Limited Partnership Act 1907?

To make a profit Signup and view all the answers

What happens to profits and losses in a partnership, in the absence of an agreement?

They are distributed equally among partners Signup and view all the answers

What is required for the formation of a partnership?

The voluntary coming together of two or more persons Signup and view all the answers

What is one of the functions of the Board in relation to accounting and financial reporting standards?

Specifying minimum requirements for recognition, measurement, presentation and disclosure in financial statements Signup and view all the answers

What is the importance of accounting information to user groups?

Useful to various user groups Signup and view all the answers

What is the role of the Board in relation to auditing standards?

Developing or adopting auditing standards and ensuring consistency with International Auditing and Assurance Standards Board Signup and view all the answers

What are some of the qualitative characteristics of useful financial information?

All of the above Signup and view all the answers

What is the purpose of accounting?

To provide financial information to various user groups Signup and view all the answers

What is the scope of accounting?

Includes book-keeping and financial reporting Signup and view all the answers