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F/ACCOUNT OBJ
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F/ACCOUNT
(1a)
Final accounts are the accounts that a business prepares at the final stage of the accounting process/cycle. Final accounts show both the financial position of a business along with the profitability, they are used by external and internal parties for various purposes.
(1b)
(i) They are prepared to calculate Gross profit and net profit earned by the organization for the relevant period by presenting the Statement of Profit and Loss.
(ii) The Balance sheet is prepared to provide the company’s correct financial position as of the date.
(iii) These accounts use the bifurcation of direct expenses to obtain the gross profit and loss and bifurcation in indirect expenses to ascertain the organization’s net profit and loss.
(iv) Through the Balance sheet, these accounts bifurcate the assets and liabilities as per the holding and usage periods of the same.
(1c)
(i) Shareholders
(ii) Lenders of Money
(iii) Creditors
(iv) Taxation Authorities
(v) Stock Exchange authorities
(vi) Government
(i)Government: On the basis of the financial statement, Government authorities determine the progress of various industries and the need for financial help. Various Taxation is levied by the government after analyzing the financial statements.
(ii)Lenders of Money: – Lenders of Money are the persons who lent their money to an enterprise. They want to know the repaying capacity of the business. So, The Final accounts provide all this information to them.
(iii)Shareholders: Divorce between ownership and management and broad-based ownership of capital due to dispersal of shareholdings have made shareholders take more interest in the financial statements with a view to ascertaining the profitability and financial strength of the company.
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(2a)
Accruals include accrued expenses and accrued income. The Accrued income and expenses are yet to be paid or received. WHILE prepayments include prepaid income and prepaid expenses. The prepaid income or expenses are paid or received in advance.
(2b)
(i) Depreciation Base: This is the cost to be allocated over the period of use. It consists of the initial purchase cost of the asset minus any salvage value expected at the time of retirement plus the anticipated costs of removing the asset when it is retired.
(ii) Useful Life: This is a function not only of the physical wear and exhaustion to which the asset is subjected, but also of technological change and innovation. Both obsolescence and physical endurance must be considered in estimating useful life. The useful life to be used for depreciation purposes will be the shorter of the lives estimated on the two bases.
(iii) Procedures for computing depreciation: The objective of depreciation accounting is to assign to expense systematically the cost of a long life asset over the assets useful life. The result is the depreciable basis or the amount that can be depreciated.
(2c)
(i) To Ascertain the True Working Result: Asset is an important tool in earning revenues. Huge amounts are spent for acquisition of assets which are worn out in the process of earning income. Thus, the assets get depreciated in their value, over a period of time due to many reasons explained above.
(ii) To Ascertain True Value of Asset: The function of the Balance Sheet is to show the true and correct view of the state of affairs of a business. If no depreciation is charged and when assets are shown at the original cost year after year, Balance Sheet will not disclose the correct state of affairs of a business.
(iii) To Retain Funds for Replacement: Assets used in the business need replacement after the expiry of their service. It is always not possible to determine the useful life of assets. But, in certain cases, machine often becomes, obsolete long before it wears out because of rapid changes in tastes and technology.
(3ai)
Warp is A structural distortion of the support that has become twisted, turned or bent out of shape and is no longer flat or in plane
(3aii)
Weft is a filling thread or yarn in weaving
(3aiii)
Clothesalso known as Artwear or "art to wear", refers to individually designed pieces of (usually) handmade clothing or jewellery created as fine or expressive art.
(3aiv)
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(3av)
Textile art is a type of art that uses animal, plant, or synthetic fibers to create practical or decorative objects.
*WAEC VISUAL ART*
(2a)
Papier mache is a light strong molding material of wastepaper pulped with glue and other additives
(2b)
[PICK ANY ONE]
(i) The use of paper strips glued together with adhesive
(ii) The use of paper pulp obtained by soaking or boiling paper to which glue is then added.
(2c)
(i) STEP 1:
Set up your work space
(ii)STEP 2:
Soak the small bits of papers inside water for at least 24 hours.
(iii) STEP 3:
Remove the soaked pieces of paper and squeeze out the excess water.
(iv) STEP 4:
Pound the soak paper inside mortar and pestle
(v) STEP 5:
Remove the pounded pulp from the mortar into a bowl.
(vi) STEP 6:
Prepare cassava starch with hot water and mix to a fairly thick consistency (like the preparation of pap)
(vii) STEP 7:
Mix the paper pulp with the starch properly when the starch is cool (white glue can also be used in place of starch).
(viii) STEP 8:
The prepared pulp can be used to mould objects like bowl, cup, jugs, animals etc.
*WAEC VISUAL ART*
(1a)
Collage describes both the technique and the resulting work of art in which pieces of paper, photographs, fabric and other ephemera are arranged and stuck down onto a supporting surface.
(1b)
Basketry, are art and craft of making interwoven objects, usually containers, from flexible vegetable fibres, such as twigs, grasses, osiers, bamboo, and rushes, or from plastic or other synthetic materials
(1c)
Pottery, is one of the oldest and most widespread of the decorative arts, consisting of objects made of clay and hardened with heat. The objects made are commonly useful ones, such as vessels for holding liquids or plates or bowls from which food can be served.
(1d)
Printing is the process of making images that can be transferred onto other surfaces. It can be used to make one or more identical images or to create repeating patterns on papers and textiles
(1e)
Dyeing is the application of dyes or pigments on textile materials such as fibers, yarns, and fabrics with the goal of achieving color with desired color fastness.
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Paper II: Essay – Human and Regional Geography – 10:00am – 12:00noon
===========================
Monday 8th August 2022
Paper III & II: Objective & Essay – Civic Education – 10:00am – 1:00pm
Paper I: Practical – Electronics – 2:00pm – 5:00pm
===========================
Tuesday 9th August 2022
Paper I: Practical – Technical Drawing – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Computer Studies – 2:00pm – 5:00pm
===========================
Wednesday 10th August 2022
Paper III: Objective – Further Mathematics – 10:00am – 12:00noon
Paper II: Essay – Further Mathematics – 12:15pm – 2:45pm
Paper III & II: Objective & Essay – Building Construction – 3:30pm – 5:30pm
===========================
Thursday 11th August 2022
Paper III & II: Objective & Essay – Auto-Body Repair and Spray Painting – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Auto Electrical Work – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Auto Mechanical work – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Auto Parts Merchandising – 10:00am – 12:15pm
Paper III & II: Objective & Essay – Welding & Fabrication Engineering Craft Practice – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Radio, Television & Electronics Work – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Plumbing & Pipe Fitting – 10:00am – 12:30pm
Paper IV: Drawing & Design – Furniture Making – 10:00am – 12:00noon
Paper III & II: Objective & Essay – Furniture Making – 12:30pm – 2:15pm
Paper III & II: Objective & Essay – Catering Craft Practice – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Clothing & Textiles – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Cosmetology – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Minning – 10:00am – 12:45pm
Paper III & II: Objective & Essay – Tourism – 10:00am – 1:30pm
Paper III & II: Objective & Essay – Data Processing – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Store Keeping – 10:00am – 12:40pm
Paper III & II: Objective & Essay – Book Keeping – 10:00am – 1:50pm
Paper III & II: Objective & Essay – GSM Maintenance & Repairs – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Salesmanship – 10:00am – 12:40pm
Paper III & II: Objective & Essay – Electronics – 2:30pm – 4:30pm
Paper III & II: Objective & Essay – Office Practice – 2:30pm – 5:30pm
===========================
Friday 12th August 2022
Paper III & II: Objective & Essay – Metal Work – 10:00am – 12:30pm
===========================
Complied by EAGLE EYE CEO:http://wa.me/2348023343546
Paper II: Drama & Poetry – Literature in English – 3:00pm – 4:40pm
Paper IV: Drawing & Design – Woodwork – 3:00pm – 5:00pm
===========================
Saturday 23rd July 2022
Paper 1: Practical – Computer Studies – 10:00 am – 1:00pm
===========================
Monday 25th July 2022
Paper III & II: Objective & Essay – Chemistry – 10:00am – 1:00pm
Paper III & IV: Objective & Prose – Literature in English – 10:00pm – 12:15pm
Paper III & II: Objective, Theory & Practice – Financial Accounting – 2:00pm – 5:50pm
Paper III & IV: Objective & Drawing – Technical Drawing – 2:00pm – 4:30pm
===========================
Tuesday 26th July 2022
Paper III & II: Objective & Essay – Biology – 10:00am – 12:30pm
Paper I: Practical – Basic Electricity – 2:00pm – 5:00pm
===========================
Wednesday 27th July 2022
Paper II & III: Essay & Objective – English Language – 10:00am – 12:45pm
Paper IV: Test of Orals – English Language – 1:00pm – 1:45pm
Paper III & II: Objective & Essay – Visual – 2:30pm – 5:30pm
===========================
Thursday 28th July 2022
Paper III & II: Objective & Essay – Physics – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Commerce – 10:00am – 12:40pm
Paper III & II: Objective & Essay – Christian Religious Studies – 2:00pm – 4:30pm
Paper III & II: Objective & Essay – Islamic Studies – 2:00pm – 4:30pm
===========================
Friday 29th July 2022
Paper III & II: Objective & Essay – Agricultural Science – 10:00am – 12:30pm
===========================
Monday 1st August 2022
Paper IV: Creative Design – Visual Art – 10:00am – 1:00pm
Paper I: Drawing – Visual Art – 2:00pm – 5:00pm
Paper III & II: Objective & Essay – Basic Electricity – 2.30pm – 4:45pm
===========================
Tuesday 2nd August 2022
Paper I(b): Painting and Decoration (Practical) – 10:00am – 4:00pm
Paper I(b): Dyeing and Bleaching (Practical) – 10:00am – 4:00pm
Paper I(b): Printing Craft Practice (Practical) – 10:00am – 4:00pm
Paper I(b): Photography (Practical) – 10:00am – 4:00pm
Paper I(b): Leather Goods Manufacturing and Repair (Practical) – 10:00am – 4:00pm
Paper I: Practical – Mining – 10:00am – 12:00noon
Paper I: Practical – Fisheries – 10:00am – 11:30am
Paper I: Practical – Animal Husbandry – 10:00am – 11:30am
Paper I: Practical – Stenography – 10:00am – 11:17am
Paper IV: Practical – Stenography (Word Processing) – 2:00pm – 4:00pm
Paper I: Practical – Metal Work – 2:00pm – 5:00pm
===========================
Wednesday 3rd August 2022
Paper III & II: Objective & Essay – Air-Conditioning & Refrigeration – 10:00am – 11:40am
Paper III & II: Objective & Essay – Electrical Installation & Maintenance Work – 10:00am – 12:00noon
Paper III & II: Objective & Essay – Blocklaying, Bricklaying & Concrete Work – 10:00am – 12:00noon
Paper III & II: Objective & Essay – Machine Woodworking – 10:00am – 11:40am
Paper III & II: Objective & Essay – Carpentry & Joinery – 10:00am – 12:00noon
Paper III & II: Objective & Essay – Garment Making – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Marketing – 10:00am – 12:40pm
Paper III & II: Objective & Essay – Upholstery – 10:00am – 11:30am
Paper III & II: Objective & Essay – Stenography – 10:00am – 12:00noon
Paper III & II: Objective & Essay – Animal Husbandry – 10:00am – 12:00noon
Paper III & II: Objective & Essay – Fisheries – 10:00am – 12:00noon
Paper I(a): Painting and Decoration (Report Writing) – 10:00am – 12:00noon
Paper I(a): Dyeing and Bleaching (Report Writing) – 10:00am – 12:00noon
Paper I(a): Printing Craft Practice (Report Writing) – 10:00am – 12:00noon
Paper I(a): Photography (Report Writing) – 10:00am – 12:00noon
Paper I(a): Leather Goods Manufacturing and Repair (Report Writing) – 10:00am – 12:00noon
Paper III & II: Objective, Essay & Literature – Arabic – 2:00pm – 5:30pm
===========================
Thursday 4th August 2022
Paper III & II: Objective & Essay – Economics – 10:00am – 1:00pm
Paper I: Drawing – Building Construction – 2:00pm – 5:00pm
===========================
Friday 5th August 2022
*NECO 2022 SSCE FINAL EXAMINATION TIMETABLE*
Monday 27th June to Friday 1st July 2022 [Actual date and time will be fixed by the Council]
Paper 1: Practical – Physical Education
Paper 1: Practical – Auto Mechanics
Paper 1: Practical – Woodwork
Paper 1: Practical – Home Management
Paper 1: Practical – Foods and Nutrition
Paper 1: Performance Test, Music Technology/Alternative
Paper IV: Aural Music
Paper IV: Oral French
Paper IV: Oral Arabic
Paper 1: Practical – Auto Body Repair and Spray Painting
Paper 1: Auto Electrical Work
Paper 1: Practical – Auto Mechanical Work
Paper 1: Practical – Air Conditioning and Refrigeration
Paper 1: Practical – Welding and Fabrication, Engineering Craft Practice
Paper 1: Practical – Electrical Installation & Maintenance Work
Paper 1: Practical – Radio, Television and Electronics Work
Paper 1: Practical – Blocklaying, Bricklaying and Concrete Work
Paper IV: Exhibition – Painting and Decoration
Paper 1: Practical – Plumbing and Pipe Fitting
Paper 1: Practical – Machine Woodworking
Paper 1: Practical – Carpentry and Joinery
Paper 1: Practical – Furniture Making
Paper 1: Practical – Upholstery
Paper 1: Practical – Catering Craft Practice
Paper 1: Practical – Garment Making
Paper 1: Practical – Clothing and Textiles
Paper IV: Exhibition – Dyeing and Bleaching
Paper IV: Exhibition – Printing Craft Practice
Paper 1: Practical – Cosmetology
Paper IV: Exhibition – Photography
Paper IV: Exhibition – Leather Goods, Manufacturing and Repair
Paper 1: Practical – GSM Maintenance and Repairs
Paper IV: Progressive Assessments – Animal Husbandry
===========================
Monday 4th July 2022
Paper III & II: Objective & Essay – Store Management – 10:00am – 12:40pm
Paper III & II: Objective & Essay – Physical Education – 2:00pm – 4:00pm
===========================
Tuesday 5th July 2022
Paper III & II: Objective & Essay – Hausa – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Igbo – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Yoruba – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Edo – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Efik – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Ibibio – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Insurance – 2:00pm – 4:00pm
===========================
Wednesday 6th July 2022
Paper I: Test of Practical – Health Education – 10:00am – 11:30am
Paper III & II: Objective & Essay – Health Education – 11:35am – 1:35pm
Paper I: Written Comprehension – French – 2:30pm – 3:30pm
Paper II: Written Expression – French – 3:30pm – 5:15pm
Thursday 7th July 2022
Paper III & II: Objective & Essay – History – 10:00am – 1:00pm
Paper III & II: Objective & Essay – Home Management – 2:00pm – 4:30pm
===========================
Friday, 8th July 2022
Paper III & II: Objective & Essay – Foods & Nutrition – 10:00am – 12:30pm
Paper III & II: Objective & Essay – Woodwork – 10:00am – 12:00noon
===========================
Saturday 9th July 2022
Paper I: Practical – Data Processing – 10:00am – 1:00pm
===========================
*SALLAH BREAK*
Monday 11th July to Friday 15th July 2022
===========================
Monday 18th July 2022
Paper I: Practical – Physics – 10:00am – 12:45pm
Paper III & II: Objective & Essay – Government – 2:00pm – 4:40pm
===========================
Tuesday 19th July 2022
Paper I: Practical – Biology – 10:00am – 12:00noon
Paper I: Practical – Agricultural Science – 2:00pm – 3:30pm
===========================
Wednesday 20th July 2022
Paper I: Practical – Chemistry – 10:00am – 12:00pm
Paper III & II: Objective & Essay – Auto Mechanics – 2:00pm – 4:30pm
===========================
Thursday 21st July 2022
Paper III: Objective – General Mathematics – 10:00am – 11:45am
Paper II: Essay – General Mathematics – 12:00pm – 2:30pm
Paper III & II: Objective & Essay – Music – 3:00pm – 5:30pm
===========================
Friday 22nd July 2022
Paper III & I: Objective & Practical / Physical – Geography – 10:00am – 12:30pm
