6 Reasons why Candidates Fail 2017 WAEC Financial Accounting

There may be many reasons making rounds, however, a reliable information from WAEC official has enumerated peculiar REASONS WHY CANDIDATES FAIL 2017 WAEC FINANCIAL ACCOUNTING. Below are the reasons:

1. Candidates’ inability to interpret question three (3) which is to explain the terms used in the accounts of not-for-profit making organizations;
2. Lack of proper understanding of the basic principles of accounting;
3. Non-coverage of syllabus before registering for the examination;
4. The use of unapproved abbreviations such as GP for Gross Profit, NP for Net Profit CL for Current Liabilities;
5. Poor expression and the use of English Language in explaining their points;
6. Candidates’ failed to use interpret correctly the accounting terminologies and the accounting ratios.

USEFUL TIPS ON HOW TO PASS WAEC

As familiar as the reasons, many students willfully despised suggested remedies in the previous years before heading for the WAEC examination. You are therefore counselled to consider the outlined remedies while preparing for the next exam.

1. Candidates should be conversant with accounting terminologies and their definitions
2. The teaching of the basic principles of Financial Accounting must be emphasized in schools with emphasis on the rudiments of accounting practice and the rudiments of posting and entries.
3. Candidates should prepare very well by covering all aspects of the syllabus before writing the examination.
4. Teachers should make use of past question papers for revision exercise in preparing for examinations.
5. Qualified teachers should be employed to teach the subject in schools.
6. Candidates should be taught to write in full instead of abbreviations and teachers should discourage the use of abbreviations in their answers to questions.

OBSERVED STUDENTS STRENGTH

The candidates performed very well in questions testing the following topics

1. Source Documents
2. Subsidiary Books of Account
3. Depreciation of Assets
4. Bank Reconciliation Statement
5. Manufacturing, Trading, Profit and Loss Account
6. Departmental, Trading, Profit and Loss Account

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