EXAMINER’S GENERAL COMMENTS The general performance of most of the candidates was as usual below average. It showed that most of the candidates were not prepared and ready for the examination. They showed lack of knowledge in the Accounting Standards and the double entry principles. Candidates with high understanding of the Accounting Standards scored high marks especially in questions two and five (a). The orderly and logical presentation of answers continued to be a challenge to most candidates.

STANDARD OF THE PAPER The standard of the questions was quite high, compared to those of the earlier years administered except in terms of the volume of work required in a few of the questions. The questions covered all the relevant sections of the syllabus. All the questions reflected the weighting of the topics in the syllabus, and the mark allocations followed a similar pattern in the previous exams. There were no ambiguities and typographical errors in the paper.