Appendix 106.5.1.

(NBAA)
THE NATIONAL BOARD OF ACCOUNTANTS AND AUDITORS
TANZANIA

EXAMINERS’ AND PERFORMANCE REPORT

98TH EXAMINATION SESSION – 2023

NBAA, Telephones: +255 26 2660170-4

4 UKAGUZI ROAD, + 255 22 2211890-9
AUDIT HOUSE, 8TH FLOOR, Mobile: 0713 320423
P. O. BOX 1271, Email: [email protected]
41104 TAMBUKARELI, Website: www.nbaa.go.tz
DODOMA. TANZANIA

18TH DECEMBER 2023

 TABLE OF CONTENTS

PAGE
(ii)
Foreword & Acknowledgement …………………………………….

Executive Summary of 96th Examination session ………………….. (vii)

CHAPTER 1 Analysis of Candidates’ Performance in the 98th Examination Session 1

CHAPTER II Performance Evaluation Subject-Wise …………………................. 4

• Accounting Technician Examination Level I ……….................. 5
• Accounting Technician Examination Level II …………………. 18
• Foundation Level ………………………………………………. 31
• Intermediate Level ……………………....................................... 51
• Final Level …………………………………………………….. 80

CHAPTER III Examiners’ Recommendations to Tutors & Students ………………. 101

CHAPTER IV Institutional Performance Evaluation ………………………………. 111

CHAPTER V Accounting Graduates created by the Board up to November 2023 132

CHAPTER VI The NBAA Special Awards Programme for Candidates with 134
Meritorious Examination Achievements …………………………….
 FOREWORD AND ACKNOWLEDGEMENT

The current examination scheme was tested for the first time in November 2014 examination
session. It has basically be designed to test competencies rather than knowledge. In order to realize
this goal, there is a need to streamline the whole process from teaching of the students, setting of
examination questions as well as marking of the examinations. Here it means that the trainers,
learners, examiners as well as examination markers need to speak the same language. If there is any
mismatch between these key stakeholders the aim of competence based examination scheme cannot
be realized. Trainers are required to change their teaching orientation to match with competence
approach. They are required to guide learners to acquire competencies rather than knowledge.
Learners are supposed to change their learning styles from rote learning to active learning that will
enable them to learn the required competencies. Those who are setting examination questions
should also consider the fact that they are testing understanding of skills and competencies rather
than understanding of information. How to orient all these stakeholders to have the same orientation
has remained a challenge in implementing the competence- b a s e d examination scheme. But
as we move forward the situation is changing into better through trainings and acquisition of
experiences.

The current examination scheme has eight subjects in the Accounting Technician Levels I and II
as shown below:
Accounting Technician Level I
Exam Code Subject Name
T01 Book keeping and Accounts
T02 Elements of Business Mathematics and Statistics
T03 Introduction to Information and Communication Technology
T.04 Business Communication Skills

Accounting Technician Level II

Exam Code Subject Name
T.05 Principles of Accounting and Auditing
T.06 Elements of Cost Accounting and Procurement
T.07 Elements of Commercial Knowledge and Taxation
T.08 Accounting for Public Sector and Cooperatives

ii
The Professional Examination Scheme has three level structures as
follows:
(i) Foundation (Knowledge and Skills) level, having six subjects,
(ii) Intermediate (Skills and Analysis in Context) level, having six subjects, and
(iii) Final (Professional Analysis, Application and Evaluation) level, having four subjects.

In total, the Professional Examination Scheme has 16 subjects as shown hereunder:

Foundation (Knowledge and Skills Level)

Exam Subject Name
Code

A1 Quantitative Techniques
A2 Business and Management
A3 Financial Accounting
A4 Cost Accounting
A5 Business Law
A6 Business Economics

Intermediate (Skills and Analysis in Context Level)

Exam Subject Name
Code
B1 Financial Management
B2 Financial Reporting
B3 Auditing Principles and Practice
B4 Public Finance and Taxation
B5 Performance Management
B6 Management, Governance and Ethics

Final (Professional Analysis, Application and Evaluation Level)

Exam Subject Name
Code
C1 Corporate Reporting
C2 Auditing and Assurance Services
C3 Business and Corporate Finance
C4 Advanced Taxation

iii
ACCOUNTING MANPOWER

Since the inception of the Accounting Technician examinations, the Board has been able to produce
14,449 Accounting Technicians. This category of Accounting Technicians covers 4,245 Accounting
Technicians Certificate (ATEC) graduates, 2,971 Basic Book-keeping Certificate (BBC)
graduates, 5,746 National Book-keeping Certificate (NABOCE) graduates and 1,537 National
Accountancy Diploma (NAD) graduates.

The Board has also been able to produce 12,888 CPA (T) graduates since it started conducting these
examinations in May, 1975, 296 CPA (T) Equivalent graduates since it started conducting these
examinations in November 2014. In total, the Board has been able to produce 27,543 accounting
personnel (manpower) of different levels and categories serving both in public and private sectors
inside and outside Tanzania.

EXAMINATION CENTRES

During the 98th examination session, examinations were held in 23 examination centres, where
Dar es Salaam had 12 centres and the other 11 centres located in Tanzania Mainland and Zanzibar.
These centres accommodated 6,711 candidates sitting at different levels of the Board’s examinations.
The examination centres were as follows:

Dar es Salaam centres were all located at APC Hotel and Conference Centre (Bunju).

Up country centres were as follows:

1. Arusha – Institute of Accountancy Arusha (IAA)
2. Dodoma – Institute of Development and Rural Planning(IDRP)
3. Iringa – Iringa RVTSC
4. Kilimanjaro – YMCA
5. Mbeya – Benjamin Mkapa Conference Center
6. Morogoro – Muslim University of Morogoro (MUM)
7. Mwanza –St. Dominic Pastoral Centre
8. Tabora – Tabora RVTSC
9. Tanga – St. Joseph’s Commercial School (SJCS)
10. Zanzibar - State University of Zanzibar (SUZA)
11. Singida – Tanzania Institute of Accountancy (TIA)

iv
OBJECTIVES OF THE REPORT

The Report is intended to avail to trainers and candidates, the examinations’ overall general
performance, specific areas of weaknesses and suggestions for improvement. It is an important guide
to candidates as well as trainers, setters, markers and moderators of the Board’s future examinations.

Analysis of the examination performance is presented in Table 3 of this report while a detailed
analysis indicating the performance of candidates registered by the recognized Tuition Providers is
shown in Tables 10 to 11 of the report. Analysis of performance in each subject is presented in
Tables 5.1 to 9.1.8. Comments and observations in the Examiners' and Performance Report are
supported by relevant statistical analysis of the candidates' performance in each examination level.

The last chapter of the Report comprises a list of prizes offered by NBAA and other prize donors.
These prizes will be awarded to candidates who have excelled in their examinations during the
graduation ceremony expected to be held on October 2024.

ACKNOWLEDGEMENT

On behalf of the Board and on my own behalf, I wish to convey my very sincere appreciation to all
persons who willingly supported the Board in this demanding professional task. I am indeed
particularly thankful to all Tuition Providers who devoted their energy and time to guide the
candidates and preparing them for the examinations. I am also delighted to acknowledge the
contribution of Board’s Examiners, Markers, Invigilators, and the Board’s Secretariat, the Education
and Publications Committee and the Governing Board for their much-appreciated co-operation
during the whole process of the NBAA’s 98th examination session. Last but not least, I congratulate
all examination candidates who studied hard and sat for the 98th examinations of the Board.

Once again, I would like to reiterate that the Examiners' Report is prepared to help trainers and the
Board’s candidates to improve on their future performance by learning from previous experiences.
I, therefore, call upon readers of this Report to come up with constructive suggestions on how to
improve further the examination process and reports arising therein.

Yours sincerely,

CPA Pius A. Maneno

EXECUTIVE DIRECTOR

v
 EXECUTIVE SUMMARY TO THE 98TH EXAMINATION SESSION – NOVEMBER 2023

1.0 PREAMBLE:

The Board conducts its normal session examinations twice in a year during the months of
May and November. This session is the 98th examination session in which the examinations
were conducted from Tuesday 31st October to Friday 3rd November, 2023.

7,238 candidates applied for the examinations, out of whom 527 (7.3%) were absent 6,711
(92.7%) sat for the examinations at different levels. The candidature distribution this
session is as shown in the Table below:-

EXAMINATION CANDIDATES CANDIDATES % CANDIDATES %

LEVELS APPLIED ABSENT SAT

TECHNICIAN LEVELS

ATEC I: 107 06 5.6 101 94.4

ATEC II: 206 13 6.3 193 93.7

PROFESSIONAL LEVELS

Foundation 973 83 8.5 890 91.5

Intermediate 3913 308 7.9 3605 92.1

Final 2039 117 5.7 1922 94.3

TOTALS 7,238 527 7.3 6,711 92.7

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2.0 TREND OF THE EXAMINATION CANDIDATURE

2.1 Candidature Exam Sitting

Candidates who sat for the examinations this session has increased from 6,235 to 6,711
Candidates, which is an increase of 13.7% candidature enrolment.

Table 1 and Graph 1 shows candidature trend (candidates who sat for the
examinations) for the ten examination sessions: November 2018 to November 2023.

Table 1
EXAMINATION CANDIDATURE TREND FOR THE PAST TEN EXAMINATION
SESSIONS MAY 2019 TO NOVEMBER 2023

EXAMINATION ATEC ATEC FOUNDATION INTERMEDIATE FINAL TOTAL

I II

89th May 2019 102 190 696 3,276 1,971 6,235

90th November 2019 85 173 688 3,310 1,923 6,179

91st May (August) 2020 84 162 722 3,721 2,245 6,934

92nd November 2020 46 92 396 2,132 1,477 4,143

93rd May 2021 76 182 709 3,275 2,159 6,401

94th November 2021 66 170 677 2,983 1,913 5,809

95th May 2022 74 131 700 3,028 1,949 5,881

96th November 2022 82 153 703 3,142 1,824 5,904

97th May 2023 102 172 819 3,218 2,021 6,332

98th November 2023 101 193 890 3,605 1,922 6,711

vii
 Graph 1

GRAPHICAL PRESENTATION OF THE BOARD’S OVERALL EXAMINATION

CANDIDATURE FOR THE PRECEDING TEN (10) EXAMINATION SESSIONS

(MAY 2019 TO NOVEMBER 2023)

2.2 Candidature Distribution – November 2023

Candidature distribution for the November 2023 examination session shows that majority
of the candidates who sat for these examinations were in the Intermediate level
examinations.

Examination ATEC I ATEC II FOUNDATION INTERMEDIATE FINAL TOTAL

session
101 193 890 3,605 1,922 6,711
th
98 November 2023

The Chart below shows the candidature distribution

viii
 Chart 1

Candidature in Intermediate level is highest as most of the candidates who enroll at this level are
those who have completed a three years’ bachelor degree programme or its equivalent in accounting
and enjoy exemptions to sit for the Intermediate Level examinations. A tertiary institution which
offers bachelor degree courses related to accountancy courses has to apply to NBAA for its
graduands to be given exemption in the Board’s examinations.

3.0 EXAMINATION PERFORMANCE

3.1 Pass rates for examination levels tested in November 20223

Table 2 (i) shows pass rates in November 2023 examination session

Examination Level Number of Passes Percentage
ATEC I
Passed 40 39.6
Part passed 33 32.7
ATEC II
Passed 83 43
Part passed 90 46.6
FOUNDATION
Passed 290 32.5
Part passed 451 50.7
INTERMEDIATE
Passed 557 15.5
Part passed 1,878 52.1
FINAL
Passed 240 12.5
Part passed 829 43.1
TOTAL PASSES
Passed 1,210 28.6
Part passed 3,281 45

ix
 Table 2 (ii) shows number of candidates with foreign CPA – equivalent qualification
who sat and cleared the subjects with local contents

Subject No. of entries No. of passes %

A5 Business Law 12 10 83.3

B1 Financial Management 21 20 95.2
B2 Financial Accounting 19 19 100.0
B3 Auditing Principles and Practices 17 17 100.0
B4 Public Finance and Taxation 36 31 86.1
B5 Performance Management 19 18 94.7
C2 Auditing and Assurance Services 01 01 100.0
C3 Business and Corporate Finance 05 01 20.0
C4 Advanced Taxation 14 11 78.6

Candidates who passed and clear their subject(s) are eligible for the award of letters of
success and certificates to enable them register as members.

x
 3.2 Examination Performance by Gender:
Table 3: Examination performance by gender in the five examination levels

OVERALL CANDIDATE PERFORMANCE

EXAMINA
ATEC I ATEC II FOUNDATION INTERMEDIATE FINAL STAGE TOTAL
TION

Male Female Total Male Female Total Male Female Total Male Female Total Male Female Total

No % No % No % NO. % NO. % No % NO. % NO. % No % NO. % NO. % No % NO. % NO. % No % NO. %

PASSED 31 31% 13 13% 44 44% 46 24% 37 19% 83 43% 147 17% 143 16% 290 33% 261 7% 296 8% 557 15% 111 6% 129 7% 240 12% 1214 18%

PARTLY PASS 12 12% 21 21% 33 33% 48 25% 42 22% 90 47% 210 24% 241 27% 451 51% 862 24% 1016 28% 1878 52% 393 20% 436 23% 829 43% 3281 49%

FAILED 11 11% 13 13% 24 24% 10 5% 10 5% 20 10% 87 10% 62 7% 149 17% 579 16% 591 16% 1170 32% 454 24% 399 21% 853 44% 2216 33%

TOTAL 54 53% 47 47% 101 100% 104 54% 89 46% 193 100% 444 50% 446 50% 890 100% 1702 47% 1903 53% 3605 100% 958 50% 964 50% 1922 100% 6711 100%

xi
 CHAPTER I

ANALYSIS OF CANDIDATES’ PERFORMANCE IN THE 98TH EXAMINATION

SESSION – NOVEMBER 2023

OVERALL CANDIDATES' PERFORMANCE

During the 98th examination session, 7,238 candidates were registered for the Board’s examinations
held in November 2023, out of whom 527 (6.8%) candidates were absent from the examinations,
6,711 candidates sat for the examinations. Of the 6,711 candidates who sat for the examinations,
1,210 (28.6%) candidates passed while 3,281 (45%) candidates part passed and 2216 (25.5%)
candidates failed the examinations. (See Table 4 on page 3).

ACCOUNTING TECHNICIAN CERTIFICATE (ATEC) - LEVEL I

The November 2023 examination session was the nineteenth session since the review of the
examinations structure and syllabi of ATEC. 107 candidates registered themselves for the
examination. 06 (5.6%) candidates were absent. 101 candidates sat for the examination, out of whom
40 (39.6%) passed hence becoming eligible for a STATEMENT OF SUCCESS at this level. 33
(32.7%) candidates are part passed while a total of 24 (23.8%) candidates failed the examination.
(See Table 4 on page3).

ACCOUNTING TECHNICIAN CERTIFICATE (ATEC) - LEVEL II

This examination was conducted for the nineteenth session since the review of the examination
structure and Syllabi of ATEC II. Out of 206 candidates who registered for the examination, 13
(6.3%) candidates were absent leaving a total of 193 candidates who sat for examination. 83 (43%)
candidates passed and hence are eligible for a STATEMENT OF SUCCESS at this level. 90
(46.6%) candidates have part passed while a total of 20 (10.4%) candidates failed the examination.
(See Table 4 on page3).

FOUNDATION LEVEL

This examination was conducted for the nineteenth session since the review of the examination
structure and Syllabi of foundation level. The foundation level examinations consist of six subjects.

In this examination, 973 candidates registered f o r examination out of whom 83 (8.5%)

candidates were absent. Of the 890 candidates who sat examination, 290 (32.5%) candidates passed
hence becoming eligible for a STATEMENT OF SUCCESS at this level. 451(50.7%)
candidates have part passed while 149 (16.7%) candidates failed the examination. (See Table 4 on
page 3).

1
INTERMEDIATE LEVEL

This examination was conducted for the nineteenth session since the review of the examination
structure and Syllabi of Intermediate level. The intermediate level examinations consist of six
subjects.

In this examination, 3,913 candidates registered themselves out of whom 308 (7.9%) candidates were
absent. Of the 3,605 candidates who sat for examination, 557 (15.5%) candidates passed hence
becoming eligible for a STATEMENT OF SUCCESS at this level. 1,878 (52.1%) candidates have
part passed while 1,170 (32.5%) candidates failed the examination. (See Table 4 on page3).

FINAL LEVEL

This examination was conducted for the nineteenth session since the review of the examination
structure and Syllabi of Final level. The final level examinations consist of six subjects.

In this examination, 2,039 candidates registered themselves for Final Level examinations, out of
whom 117 (5.7%) candidates were absent. Of the 1,922 candidates who sat for examination, 240
(12.5%) candidates passed, hence becoming eligible for a STATEMENT OF SUCCESS at this
Level. 829 (43.1%) candidates have part passed while 853 (44.4%) candidates failed the
examination. (See Table 4 on page 3).

CANDIDATES QUALIFYING FOR THE PROFESSIONAL CERTIFICATE OF

COMPLETION

In this examination session, 53 candidates qualify for the certificate of completion of the ATEC
programme, comprising 25 (47.2%) female candidates and 28 (52.8%) male candidates.

All 53 candidates who qualified for the Accounting Technician Certificate passed ATEC II
subjects.

On the other hand, 246 candidates qualify for the certificate of completion of the CPA programme,
comprising 129 (54.7%) female candidates and 107 (45.3%) male candidates.

10 candidates qualified for CPA (T) equivalent certificate were 04 (40.0%) are female and 06
(60.0%) are male.

2
 TABLE 4

GENERAL STATISTICAL ANALYSIS OF EXAMINATIONRESULTS

96TH EXAMINATIONSESSION– NOVEMBER 2022

EXAMINATION ATECI ATEC II FOUNDATION INTERMEDIATE FINAL TOTAL

NO. % NO. % NO % NO. % NO % NO. %

100.0 100.0 100.0 100.0

ENTRIES 107 100% 206 100.0% 973 3913 2039 7238
% % % %

ABSENTEES 6 5.6% 13 6.3% 83 8.5% 308 7.9% 117 5.7% 527 6.8%

CANDIDATES
101 94.4 193 93.7 890 91.5 3,605 92.1 1,922 94.3 6711 93.2
WHO SAT

PART
33 32.7 90 46.6 551 50.7 1878 52.1 829 43.1 3282 45.0
PASSED

PASSED 40 39.6 83 43 290 32.5 557 15.5 240 12.5 1,210 28.6

FAILED 24 23.8% 20 10.4% 149 16.7% 1170 32.5% 853 44.4% 2216 25.5%

TOTAL 97 96% 193 100% 890 100% 3605 100% 1922 100% 6707 99%

3
 CHAPTER II
PERFORMANCE EVALUATION SUBJECT-WISE

INTRODUCTION

This chapter provides a detailed analysis of performance of candidates in each subject at each level
of the Board’s examinations. General evaluation and assessment of candidates’ performance at each
level and specific assessment of candidates in each topic examined is analyzed. The Board hopes
that this report will provide necessary guidance to trainers and students for the better results in the
Board’s future examinations.

The November 2022 examination is the seventeenth examination session under the revised
examination scheme and syllabi. The scheme has a two-tier system of five different levels: two at
the Accounting Technician level and three at the Professional level.

A total of 24 examination papers were attempted this session as detailed hereunder:

(a) Accounting Technician Level I with four papers;

(b) Accounting Technician Level II with four papers;
(c) The Foundation Level with six papers;
(d) The Intermediate Level with six papers;
(e) The Final Level with four papers.

4
ACCOUNTING TECHNICIAN LEVEL I

GENERAL PERFORMANCE

107 candidates applied for the ATEC I examinations. 06 (5.6%) candidates were absent.
Therefore 101 (94.4%) candidates sat for the examinations. 24 (23.8%) candidates failed, 33 (32.7%)
passed some of the subjects and 44 (43.6%) passed all the papers and therefore eligible for the
STATEMENT OF SUCCESS for ATEC I.
The general performance subject-wise is as shown in Table 5.1
TABLE 5.1
ATEC I SUBJECT-WISE PERFORMANCE ANALYSIS: NOVEMBER 2022 AND
NOVEMBER 2023

Paper Subject Performance

Code
November 2022 November 2023

Entries Pass % Entries Pass %

T.01 Bookkeeping and Accounts 48 26 75.0 66 55 84.8

Elements of Business Math

T.02 63 28 44.4 81 42 51.9
and Statistics
Introduction to Information and
T.03 69 47 68.1 70 37 52.9
Communication Technology

T.04 Business Communication Skills 51 32 62.7 61 49 80.3

5
GENERAL COMMENTS

T.01 - BOOK-KEEPING AND ACCOUNTS

I: PRINCIPAL LEARNING OUTCOME
Principal learning outcome of this paper is to enable candidates to apply knowledge of
Book keeping and Accounts for recording, posting business transactions in the book of
accounts and preparation of accounting statements in both private and public sectors.
II: STRUCTURE OF THE PAPER
The paper comprised of four questions whereby candidates were required to answer all
questions. Question one was an objective question which carried 40% of the total marks.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

QUESTION 1: VARIOUS TOPICS

Candidates were required to:

(a) Choose the most correct answer among the given four alternatives for each
of the questions given. Candidates were instructed to indicate their answer
by writing the appropriate letter A, B, C, or D.

(b) State whether the statement is True or False for each of the given statements.
Candidates were instructed to indicate their answer by writing “TRUE” for
the correct statement and “FALSE” for the incorrect statement.

(c) Pair each statement from LIST A with the corresponding item from LIST B
appropriately. Candidates were instructed to write a Roman numeral from
LIST A against the corresponding letter from LIST B.

Candidates’ performance in this question was satisfactory. Out of 66 candidates

who answered the question, 60 (99.9%) candidates passed while the remaining
06 (9.1%) candidates failed. Out of those who passed 35 (53.0%), 16 (24.2%)
and 09 (13.6%) candidates scored pass, credit and distinction marks respectively.
There were no major weaknesses noted in this question, the majority of
candidates demonstrated proficiency in addressing the question's requirements.

QUESTION 2: BANK RECONCILIATIONS

Candidates were required to:

(a) Provide a concise explanation of any reasons for a cheque to be dishonored

by a bank.
(b) Define a business transaction and articulate the significance of maintaining
records for such transactions.

6
 (c) Based on the provided information.
(i) Make necessary entries to adjust the cash book.
(ii) Prepare a bank reconciliation statement.

Candidates’ performance in this question was satisfactory. Out of 66 candidates

who answered the question, 43 (65.2%) candidates passed while the remaining 23
(34.8%) candidates failed. Out of those who passed 20 (30.3%), 09 (13.6%) and
14 (21.2%) candidates scored pass, credit and distinction marks respectively.

In section (c), a portion of candidates encountered difficulties in making necessary

entries to adjust the cash book based on the provided information. Similarly, some
candidates faced challenges in preparing a bank reconciliation statement for the
specified period. The weaknesses identified in this section were primarily related
to inaccuracies, omissions, or inadequate understanding and application of
accounting principles.

QUESTION 3: PREPARATION OF TRIAL BALANCE

Candidates were required to:
(a) Define the concept of a trial balance.
(b) Enumerate the benefits associated with preparing a trial balance before
embarking on the creation of financial statements.
(c) Utilize the provided information to construct a trial balance.

Candidates’ performance in this question was satisfactory. Out of 66 candidates

who answered the question, 35 (53.0%) candidates passed while the remaining
31 (47.0%) candidates failed. Out of those who passed 21 (31.8%), 05 (7.6%)
and 09 (13.6%) candidates scored pass, credit and distinction marks
respectively.
A subset of candidates encountered challenges in accurately preparing the trial
balance based on the given information. Common weaknesses observed included
inaccuracies in recording transactions, errors in balancing accounts, and
occasional omissions of relevant details.

QUESTION 4: REGULATORY FRAMEWORK OF ACCOUNTING IN TANZANIA AND

PREPARATION OF FINANCIAL STATEMENTS
Candidates were required to:
(a) Articulate importance of employing International Financial Reporting
Standards (IFRS) in the preparation of financial statements in the United
Republic of Tanzania.
(b) Provide an explanation of the benefits associated with the preparation of
Statements of Financial Position.
(c) Construct the Income Statement and Statement of Financial Position using
the provided trial balance data.

7
 Candidates’ performance in this question was satisfactory. Out of 66 candidates
who answered the question, 56 (84.9%) candidates passed while the remaining
10 (15.1%) candidates failed. Out of those who passed 17 (25.8%), 11 (16.7%)
and 28 (42.4%) candidates scored pass, credit and distinction marks respectively.
Weaknesses were identified in section (c) where some candidates struggled with
applying accounting principles to construct the Income Statement and Statement
of Financial Position using the provided trial balance. Common weaknesses
included errors in calculations, misclassifications, and inconsistencies.

IV: GENERAL OBSERVATIONS

(a) Assessment of the paper
The panel of examiners observed that the questions were clear and fair. Also, they
commented that the questions were set within the prescribed syllabus and could
be answered within the allocated time.
(b) Candidates’ overall performance
Candidates’ performance in this examination paper was satisfactory. Out of 66
candidates who answered the examination, 56 (84.8%) candidates passed while the
remaining 10 (15.2%) candidates failed. Out of those who passed 36 (54.5%), 13
(19.7%) and 07 (10.6%) candidates scored pass credit and distinction marks
respectively.
The over-all candidates’ performance in the subject is as shown in table 5.1.1

TABLE 5.1.1
T.01 – CANDIDATES’ PERFORMANCE ANALYSIS
Classification of Marks 0-49 50-69 70-79 80-100 TOTAL
No. of Candidates (Frequency) 10 36 13 07 66
Percentage 15.2 54.5 19.7 10.6 100

TABLE 5.1.2
T.01 – COMPARISON OF PASS RATES WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

26 out of 48 75.0 56 out of 66 84.8

8
T.02 - ELEMENTS OF BUSINESS MATHEMATICS AND STATISTICS

I: PRINCIPAL LEARNING OUTCOME

The principal learning outcome of this paper is to build basic skills in the collection,
processing, presentation and interpretation of simple numerical and statistical
knowledge and skills as a tool of learning and understanding related subjects at higher
levels.

II: STRUCTURE OF THE PAPER

The paper comprised of four questions whereby candidates were required to answer all
questions. Question one was an objective question which carried 40% of the total marks.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

Candidates were tested on the following topics:

QUESTION 1: VARIOUS TOPICS

Candidates were required to:

(a) Choose the most correct answer among the given four alternatives for each
of the questions given. Candidates were instructed to indicate their answer
by writing the appropriate letter A, B, C, or D.

(b) State whether the statement is True or False for each of the given statements.
Candidates were instructed to indicate their answer by writing “TRUE” for
the correct statement and “FALSE” for the incorrect statement.

(c) Pair each statement from LIST A with the corresponding item from LIST
B appropriately. Candidates were instructed to write a Roman numeral
from LIST A against the corresponding letter from LIST B.

Candidates’ performance in this question was satisfactory. Out of 81 candidates

who answered the question, 73 (90.1%) candidates passed while the remaining
08 (9.9%) candidates failed. Out of those who passed 29 (35.8%), 16 (19.8%)
and 28 (34.5%) candidates scored pass, credit and distinction marks
respectively.

No major weakness was observed.

9
QUESTION 2: BASIC ARITHMETIC & ELEMENTARY MATHEMATICS
Candidates were required to:

(a) Define the concept of permutation.

(b) from the given scenario of arranging 5 children in a line,

(i) Determine the number of ways two specific children are always
together.
(ii) Determine the number of ways two particular children are
never together.

(c) Expand the algebraic expression (1+x) ^4.

(d) Within the context of a geometric progression (G.P) series, where the
6th term is 320 and the common ratio is 2, candidates were required to
find the value of the 1st term.

Candidates’ performance in this question was not satisfactory. Out of 81

candidates who answered the question only 23 (28.4%) candidates passed while
the remaining 58 (71.6%) candidates failed. Out of those who passed 19
(23.5%), 02 (2.5%) and 02 (2.5%) candidates scored pass, credit and distinction
marks respectively.

The predominant weaknesses were observed in applying the geometric

progression formula and expanding expressions using the binomial theorem.
Specifically, candidates struggled with finding the 1st term in a geometric
progression series and expanding the expression (1+x) ^4.

QUESTION 3: MATHEMATICS OF FINANCE AND ELEMENTARY MATHEMATICS

Candidates were required to:

(a) use the given information to calculate the value of investment after three
and a half years.
(b) Use the given information to determine the weight of maize on the truck.
Additionally, calculate the number of bags of maize on the truck.
(c) Identify the largest fraction among the three given fractions.
(d) from the given information:
(i) Calculate the total amount of fertilizer needed for the entire farm.
(ii) Determine the total cost of the fertilizer.

Candidates’ performance in this question was satisfactory. Out of 81 candidates

who answered the question, 73 (82.7%) candidates passed while the remaining
14 (17.3%) candidates failed. Out of those who passed 22 (27.2%), 27 (33.3%)
and 18 (22.2%) candidates scored pass, credit and distinction marks respectively.

10
 Candidates displayed weaknesses in applying the compound interest formula
in part (a). In part (b), challenges arose in correctly determining the weight of
maize on the truck and converting it to bags, primarily due to errors in
subtraction and unit conversion. Part (c) revealed difficulties among candidates
in comparing fractions and identifying the largest one. Lastly, in part (d),
weaknesses were identified in basic arithmetic operations, impacting the
calculation of the total amount of fertilizer needed and the subsequent
determination of the total cost.

QUESTION 4: MEASURES OF CENTRAL TENDENCY, MEASURE OF DISPERSION

AND BASIC ARITHMETIC
Candidates were required to use the given information to:
(a) Probability Scenario:
(i) Calculate the probability of needing a new oil filter if the oil has to
be changed.
(ii) Determine the probability of needing an oil change if a new oil
filter is required.
(b) Calculate the corrected values for the mean and standard deviation.
(c) Calculate the quartile deviation for the distribution of marks obtained
by students.
Candidates’ performance in this question was not satisfactory. Out of 81
candidates who answered the question only 12 (14.8%) candidates passed
while the remaining 69 (85.2%) candidates failed. Out of those who passed 05
(6.2%), 03 (3.7%) and 04 (4.9%) candidates scored pass, credit and distinction
marks respectively.
Weaknesses identified included challenges in probability calculations for the
given scenario (part a). Some candidates struggled to apply conditional
probability concepts, resulting in errors in determining the probability of
needing a new oil filter when the oil has to be changed and vice versa. In part
(b), difficulties were observed in adjusting the mean and standard deviation
after the discovery of incorrectly recorded heights, suggesting issues with
basic statistical computations. Additionally, candidates faced challenges in
calculating the quartile deviation for the distribution of marks in part (c).

IV: GENERAL OBSERVATIONS

(a) Assessment of the paper

The panel of examiners in assessing the questions was of the opinion that the
question paper was of good quality and standard for the intended level of candidates
as it combines both application and knowledge type of questions. The question paper
was fair in terms of marks awarded, time allocated, and length of questions.
Marks distribution was done evenly to each question.

11
(b) Candidates’ overall performance
Candidates’ performance in this examination paper was satisfactory. Out of 81
candidates who answered the examination, 42 (51.9%) candidates passed while the
remaining 39 (48.1%) candidates failed. Out of those who passed 32 (39.5%), 05
(06.2%) and 05 (06.2%) candidates scored pass, credit and distinction marks
respectively.
The candidates’ over-all performance in the subject is as shown on table 5.1.3

TABLE 5.1.3
T.02 CANDIDATES’ PERFORMANCE ANALYSIS

Classification of Marks 0-49 50-69 70-79 80-100 TOTAL

No of Candidates
(Frequency) 39 32 05 05 81

Percentage 48.1 39.5 6.2 6.2 100

TABLE 5.1.4
T.02. COMPARISON OF PASS RATE WITH NOVEMBER 2022 EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

28 out of 63 44.4 42 out of 81 51.9

12
T.03 – INTRODUCTION TO INFORMATION AND COMMUNICATION
TECHNOLOGY
I: PRINCIPAL LEARNING OUTCOME
The principal learning outcome of the paper i s to enable candidates apply
knowledge and skills in information technology to solve problems in the business
environment.
II: STRUCTURE OF THE PAPER
The paper comprised of four questions whereby candidates were required to answer all
questions. Question one was an objective question which carried 40% of the total
marks.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
QUESTION 1: VARIOUS TOPICS
Candidates were required to:
(a) Choose the most correct answer among the given four alternatives for each
of the questions given. Candidates were instructed to indicate their answer
by writing the appropriate letter A, B, C, or D.

(b) State whether the statement is True or False for each of the given
statements. Candidates were instructed to indicate their answer by writing
“TRUE” for the correct statement and “FALSE” for the incorrect
statement.

(c) Pair each statement from LIST A with the corresponding item from LIST
B appropriately. Candidates were instructed to write a Roman numeral
from LIST A against the corresponding letter from LIST B.

Candidates’ performance in this question was satisfactory. Out of 70 candidates

who answered the question, 40 (57.1%) candidates passed while the remaining 30
(42.9%) candidates failed. Out of those who passed 31 (44.3%), 7 (10.0%) and 02
(2.8%) candidates scored pass, credit and distinction marks respectively.

No major weakness.

QUESTION 2: DATA COMMUNICATION SYSTEM AND BUSINESS USE OF

INTERNET, INTRANET AND EXTRANET

Candidates were required to:

(a) Provide a brief explanation of the classifications of communication
channels along with typical examples.

(b) Briefly explain the following key terms:

(i) Online store
(ii) Shopping cart
13
 (iii) Payment Gateway
(iv) Drop shipping
(v) Inventory management

(c) Explain any security challenges associated with electronic commerce

(E-commerce).

Candidates’ performance in this question was not satisfactory. Out of 70

candidates who answered the question only 30 (42.9%) candidates passed
while the remaining 40 (57.1%) candidates failed. Out of those who passed 21
(30.1%), 05 (7.1%) and 04 (5.7%) candidates scored pass, credit and distinction
marks respectively.

Weaknesses in candidates' responses included challenges in providing clear

and concise explanations for the classifications of communication channels,
potentially indicating a need for a more precise understanding. In the
explanations of key terms related to online commerce, candidates showed
weaknesses in providing sufficient details or accuracy, highlighting potential
gaps in comprehension of e-commerce terminology. Additionally, candidates
faced challenges in articulating security challenges in E-commerce, suggesting
a need for a deeper understanding of potential threats and vulnerabilities.

QUESTION 3: COMMONLY USED APPLICATION SOFTWARE

Candidates were required to:
(a) Illustrate any five challenges organizations might face when
implementing an integrated accounting system.

(b) Define a "Database Management System (DBMS)" and list five

examples of DBMS.

(c) Explain how to print a selection from the document.

Candidates’ performance in this question was not satisfactory. Out of 70
candidates who answered the question only 20 (28.6%) candidates passed
while the remaining 50 (71.4%) candidates failed. Out of those who passed 18
(25.7%), 01 (1.4%) and 01 (1.4%) candidates scored pass, credit and distinction
marks respectively.
Weaknesses in candidates' responses included challenges in illustrating the
challenges faced by organizations during the implementation of integrated
accounting systems, indicating potential gaps in understanding. In defining a
"Database Management System (DBMS)" and listing examples. Additionally,
in explaining how to print a selection in Microsoft Word, weaknesses were
observed in providing clear and detailed instructions.

14
QUESTION 4: INTRODUCTION TO INFORMATION AND COMMUNICATION
TECHNOLOGY AND COMPUTER SYSTEM
Candidates were required to:
(a) Define system utility software with examples and state the main functions
of utility software.

(b) State the effects of Information and Communication Technology (ICT) on

employment and the environment, respectively. This part is further
divided into two sub-questions:
(i) Effects on Employment.
(ii) Effects on the Environment.

(c) State at least three negative impacts of computers on society.

Candidates’ performance in this question was satisfactory. Out of 70

candidates who answered the question, 42 (60.0%) candidates passed while the
remaining 28 (40.0%) candidates failed. Out of those who passed 21 (30.0%),
08 (11.4%) and 13 (18.6%) candidates scored pass, credit and distinction marks
respectively.

Weaknesses in candidates' responses included challenges in providing clear

and accurate definitions of system utility software and its main functions with
examples (part a). Additionally, weaknesses may be observed in articulating
the effects of ICT on employment and the environment (part b). In part (c),
candidates may struggle to enumerate at least three negative impacts of
computers on society.

IV: GENERAL OBSERVATIONS

(a) Assessment of the paper

The panel of examiners in assessing the paper were of the opinion that the
paper was fair and the questions tested covered a wide range of the syllabus.
The mixture of the questions was adequate and the distribution of marks was
fair in relation to the time allocated.
(b) Candidates overall performance
Candidates’ performance in this examination paper was satisfactory. Out of 70
candidates who answered the examination, 37 (52.9%) candidates passed while
the remaining 33 (47.1%) candidates failed. Out of those who passed 33 (47.1%)
and 04 (5.8%) candidates scored pass and credit marks respectively. No candidate
scored distinction marks in this examination paper.
The candidates’ over-all performance in the subject is as shown on table
5.1.5

15
 TABLE 5.1.5
T.03 CANDIDATES’ PERFORMANCE ANALYSIS

Classification of
Marks 0-49 50-69 70-79 80-100 TOTAL
No. of Candidates 33 33 04 00 70
(Frequency)

Percentage 47.1 47.1 5.8 0.0 100

TABLE 5.1.6
T.03 COMPARISON OF PASS RATE WITH NOVEMBER 2022 EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

47 out of 69 68.1 37 out of 70 52.9

16
T.04 – BUSINESS COMMUNICATION SKILLS
I: PRINCIPAL LEARNING OUTCOME
Principal learning outcome of this paper is to enable candidates to master basic English
language skills and be able to use them for communicating effectively in business
environment.
II: STRUCTURE OF THE PAPER
This paper consisted of six compulsory questions.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
Candidates were tested on the following topics:

QUESTION 1: WRITING SKILLS IN BUSINESS CORRESPONDANCES

Based on a given passage Candidates were required to:

(a) Identify and discuss the challenges the narrator faced during their time at
school.
(b) Determine the attitude of the headmaster regarding the narrator's debts.
(c) Provide a brief discussion on how the narrator performed academically.
(d) Offer opinions on what the school management could have done to
encourage fee defaulters like the narrator.
(e) Propose a heading that accurately encapsulates the essence of the passage.
(f) Provide a concise summary of the passage in less than 150 words.
(g) Provide synonyms for specific words from the passage, including
"Ovation," "Plight," "Protracted," "Menial," and "Memorable."

Candidates’ performance in this question was satisfactory. Out of 61 candidates

who answered the question, 36 (59.0%) candidates passed while the remaining
25 (41.0%) candidates failed. Out of those who passed 29 (47.5%), 06 (9.8%)
and 01 (1.6%) candidates scored pass, credit and distinction marks respectively.
Weaknesses observed include challenges in maintaining clarity and conciseness
in their communication. Many candidates exhibited difficulties in organizing
ideas logically, leading to unclear and convoluted messages. Grammar and
punctuation errors were prevalent.

QUESTION 2: MASTERY USE OF THE ENGLISH LANGUAGE

Candidates were required:
(a) To choose the correct preposition to complete given sentences.
(b) To rewrite five sentences based on the specified instructions. They were
required to join two sentences to show a chronological sequence of events,
make a sentence negative, transform a statement into a question, add a
question tag to a sentence, and rephrase a sentence using "no longer.".
(c) To choose appropriate words from a given set to complete the sentences.
(d) To recognize and classify the word class of underlined words in given
sentences.

17
 Candidates’ performance in this question was satisfactory. Out of 61 candidates
who answered the question, 45 (73.8%) candidates passed while the remaining
16 (26.2%) candidates failed. Out of those who passed 20 (32.8%), 18 (29.5%)
and 07 (11.5%) candidates scored pass, credit and distinction marks
respectively.
Candidates who failed exhibited weaknesses in various aspects. Challenges
included difficulties in accurately choosing prepositions in multiple-choice
questions, making errors in rewriting sentences according to given instructions,
and struggling with word choice for sentence completion. Additionally,
candidates faced issues identifying word classes in sentences.

QUESTION 3: WRITING SKILLS IN BUSINESS CORRESPONDENCES AND GENERAL

INTRODUCTION TO COMMUNICATION SKILLS

(a) Candidates were presented with statements, they were instructed to

determine the correctness of each statement and express their response as
either TRUE if the statement was accurate or FALSE if it was incorrect.

(b) Candidates were provided with two lists, A and B, each containing ten
items. From List A, candidates were required to pair each item with the
corresponding statement from List B.

Candidates’ performance in this question was satisfactory. Out of 61 candidates

who answered the question, 58 (95.1%) candidates passed while the remaining
09 (14.8%) candidates failed. Out of those who passed 09 (14.8%), 08 (13.1%)
and 41 (67.2%) candidates scored pass, credit and distinction marks
respectively.
Candidates who failed exhibited shortcomings in accurately assessing the
correctness of statements related to effective communication. They struggled
to apply principles of business letters and communication processes, indicating
a lack of comprehensive understanding. Additionally, in the Pairing Items
section, candidates failed to effectively match items from List A to
corresponding statements in List B, highlighting a deficiency in their
preparation on communication concepts.
QUESTION 4: VISUAL AND ORAL COMMUNICATION SKILLS AND WRITING
SKILLS IN BUSINESS CORRESPONDANCES
Candidates were required to:
(a) Explaining the steps followed when writing a good email, highlighting the
role of ICT and computers in facilitating easier and faster communication.

(b) Explain the composition of a business report in the context of the demand
for employees to stay updated through periodic reporting systems.
Candidates’ performance in this question was not satisfactory. Out of 61
candidates who answered the question only 13 (21.3%) candidates passed while
the remaining 48 (78.7%) candidates failed. Out of those who passed 10
18
 (16.4%), 01 (1.6%) and 02 (3.3%) candidates scored pass, credit and distinction
marks respectively.
Candidates who failed struggled with articulating essential steps in email
writing, displaying a lack of clarity and organization. Their understanding of
the role of ICT in communication was limited. In the business report
composition, weaknesses were observed in identifying key elements, revealing
a shallow grasp of structural components and report purposes.

QUESTION 5: WRITING SKILLS IN BUSINESS CORRESPONDENCES

Based on the instructions provided candidates were required to:

(a) Discuss the factors to be considered when writing a complaint letter.

(b) Identify errors in the provided complaint letter and rewrite it correctly.
Candidates’ performance in this question was satisfactory. Out of 61 candidates
who answered the question, 43 (70.5%) candidates passed while the remaining
18 (29.5%) candidates failed. Out of those who passed 42 (68.9%), and 01
(1.6%) candidates scored pass and credit marks respectively. No candidate
scored distinction marks in this question.
Most of the candidates exhibited weaknesses in the response to the complaint
letter component, specifically in identifying and correcting errors. Common
issues included overlooking errors in grammar, punctuation, and sentence
structure.

QUESTION 6: VARIOUS TOPICS

Candidates were required to choose the best option from the given alternatives
to make the statements meaningful in a multiple-choice format.

Candidates’ performance in this question was satisfactory. Out of 61 candidates

who answered the question, 48 (78.7%) candidates passed while the remaining
13 (21.3%) candidates failed. Out of those who passed 21 (34.4%), 17 (27.9%)
and 10 (16.4%) candidates scored pass, credit and distinction marks
respectively.
The weaknesses observed in most candidates who failed include challenges in
correctly identifying the appropriate options for completing the statements.

IV: GENERAL OBSERVATIONS

(a) Assessment of the paper
The panel of examiners found the paper to be fairly set, clear and well spread
within the syllabus. They found the questions to be within reach of well-prepared
candidates. The questions were also fair in relation to the time allocated.

19
(b) Candidates’ overall performance
Candidates’ performance in this examination paper was satisfactory. Out of 61
candidates who answered the examination, 49 (80.3%) candidates passed while
the remaining 12 (19.7%) candidates failed. Out of those who passed 43 (70.5%),
05 (8.2%) and 01 (1.6%) candidates scored pass, credit and distinction marks
respectively.

The candidates’ over-all performance in the subject is as shown on table 5.1.7

TABLE 5.1.7
T.04 CANDIDATES’ PERFORMANCE ANALYSIS
Classification of Marks 0-49 50-69 70-79 80-100 TOTAL
No. of Candidates 12 43 05 01 61
(Frequency)
Percentage 19.7 70.5 8.2 1.6 100

TABLE 5.1.8
T.04 COMPARISON OF PASS RATE WITH NOVEMBER 2022 EXAMINATIONS
November 2022 November 2023
No. of candidates passed % No. of candidates passed %
32 out of 51 62.7 49 out of 61 80.3

20
ACCOUNTING TECHNICIAN EXAMINATION LEVEL II

GENERAL PERFORMANCE

206 candidates applied for the ATEC II examinations. 13 (6.3%) candidates were absent.
Therefore 193 (93.7%) candidates sat for the examinations. 47 (24.4%) candidates failed, 92 (47.7%)
passed some of the subjects and 54 (28.0%) passed all the papers and therefore eligible for the
STATEMENT OF SUCCESS for ATEC II.

The general performance subject-wise is as shown on table 6.1.

TABLE 6.1

ATEC II SUBJECT-WISE PERFORMANCE ANALYSIS: NOVEMBER 2022 AND

NOVEMBER 2023
Performance

Paper
Subject November 2022 November 2023
Code No.
Entries Pass % Entries Pass %

Principles of Accounting and

T.05
Auditing
114 30 26.3 157 147 93.6

Principles of Cost
T.06 121 51 42.1 141 57 40.4
Accounting and Procurement
Elements of Commercial
T.07 Knowledge, Management 85 71 83.5 100 73 73.0
Practices and Taxation
Accounting for Public Sector
T.08 79 42 53.2 131 95 72.5
and Cooperatives

21
T.05 - PRINCIPLES OF ACCOUNTING AND AUDITING

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to test candidates on application of basic concepts
and principles of accounting in preparing and interpreting statements and reports on a
practical context as per IAS 1 and apply audit knowledge in appraising data and assisting
audit staff during audit undertakings.

II: STRUCTURE OF THE PAPER

The paper consisted of four compulsory questions. Question one was an objective question
which carried 40% of the total marks.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

In this paper, candidates were tested on the following topics:

QUESTION 1: VARIOUS TOPICS

Candidates were required to:
(a) Choose the most correct answer among the given alternatives.
(b) Write whether true or false for each of the given statements.
(c) Write the letter from list B against the corresponding roman number in
list A.
Candidates’ performance in this question was satisfactory. Out of 157
candidates who answered the question, 92 (58.6%) candidates passed while the
remaining 65 (41.4%) candidates failed. Out of those who passed 72 (45.9%),
19 (12.1%) and 01 (0.6%) candidates scored pass, credit and distinction marks
respectively.

No weakness noted in this question.

QUESTION 2: A: THE TRIAL BALANCE

B: CORRECTION OF ERRORS
(a) Explain any two purposes of preparing trial balance.
(b) Explain the different types of errors that are usually committed in recording
business transactions.
(c) From the given information;
(i) Prepare the journal entries to correct the errors.
(ii) Prepare a suspend account to ascertain the difference in trial balance.

Candidates’ performance in this question was not satisfactory. Out of 157

candidates who answered the question only 26 (16.6%) candidates passed while
the remaining 131 (83.4%) candidates failed. Out of those who passed 25 (15.9%)
and 01 (0.6%) candidates scored pass and credit marks respectively. No candidate
scored distinction marks in this question.

Most of the candidates confused between journal entries, ledger and trial balance.
They failed to prepare the journal entries to correct the errors.

22
QUESTION 3: PREPARATION OF FINANCIAL STATEMENTS WITH
ADJUSTMENTS
Candidates were required to use the given information to:

(a) Prepare Income Statement for the given ended year.

(b) Prepare Statement of Financial Position as at the given date.

Candidates’ performance in this question was satisfactory. Out of 157 candidates

who answered the question, 114 (72.6%) candidates passed while the remaining
43 (27.4%) candidates failed. Out of those who passed 59 (37.6%), 19 (12.1%)
and 36 (22.9%) candidates scored pass, credit and distinction marks respectively.

Some candidates failed to understand the presentation format as per accounting

standard. They also failed to know income statements items and statements of
financial position items.

QUESTION 4: A . INTRODUCTION TO AUDITING: DEFINITIONS AND CONCEPTS

IN AUDITING
B. AUDIT PLANNING AND AUDIT PROGRAMME
Candidates were required to use the given information to:

(a) (i) Differentiate between “statutory audit” and “non-statutory audit”.

(ii) Explain any five advantages of statutory audit.

(b) Explain any five advantages of automated working papers.

(c) Explain four factors an auditor needs to consider when planning for
supervision of engagement team members.

Candidates’ performance in this question was satisfactory. Out of 157 candidates

who answered the question, 118 (75.2%) candidates passed while the remaining
39 (24.8%) candidates failed. Out of those who passed 27 (17.2%), 25 (15.9%)
and 66 (42.0%) candidates scored pass, credit and distinction marks respectively.

Majority of the candidates failed to list specific differences between statutory

audit and non-statutory audit. Some of them failed to explain the advantages of
automated working papers.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Examination
The panel of examiners was of the opinion that the examination was fair, clearly
worded and appropriately spread within the syllabus.

23
(b) Candidates’ overall performance
Candidates’ performance in this examination paper was satisfactory. Out of 157
candidates who answered the examination, 147 (93.6%) candidates scored pass marks
while the remaining 10 (6.4%) candidates failed. Out of those who passed 74 (47.1%),
51 (32.5%) and 22 (14.0%) candidates scored pass, credit and distinction marks
respectively.

Candidates’ over-all performance in the subject is as shown on table 6.1.2.

TABLE 6.1.2

T.05 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-49 50-69 70-79 80-100 TOTAL

NO. OF CANDIDATES
(FREQUENCY) 10 74 51 22 157

PERCENTAGE 6.4 47.1 32.5 14.0 100

TABLE 6.1.3
T.05 COMPARISON OF PASS RATE WITH NOVEMBER 2022 EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

30 out of 114 26.3 147 out of 157 93.6

24
T.06 - PRINCIPLES OF COST ACCOUNTING AND PROCUREMENT

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to test candidates on application of
terminologies, methods, techniques and principles of Cost Accounting and Procurement
for providing management with information for decision making, planning and controlling
business operations.

II: STRUCTURE OF THE PAPER

The paper comprised of four questions. Question one was an objective type which
carried 40% of the total marks.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

In this paper, candidates were tested on the following topics:

QUESTION 1: VARIOUS TOPICS

Candidates were required to:
(a) Choose the most correct answer among the given alternatives.
(b) Write True for the correct statement and False for the incorrect statement.
(c) Write the letter from list B against the corresponding Roman number in
list A.

Candidates’ performance in this question was satisfactory. Out of 141 candidates

who answered the question, 85 (60.3%) candidates passed while the remaining 56
(39.7%) candidates failed. Out of those who passed 66 (46.8%), 12 (8.5%) and 07
(5.0%) candidates scored pass, credit and distinction marks respectively

No major weakness was noted in this question.

QUESTION 2: APPORTIONMENT OF MANUFACTURING OVERHEADS AMONG

ALL COST CENTRES (PRIMARY DISTRIBUTION) USING
SUITABLE BASES
Candidates were required use the given information to:
(a) Calculate appropriate overhead absorption rates for each given production
department for the given year.
(b) Prepare a quotation for the given component which is to be commenced
early in a given year.

Candidates’ performance in this question was not satisfactory. Out of 141

candidates who answered the question only 10 (7.1%) candidates passed while the
remaining 131 (92.9%) candidates failed. Out of those who passed 04 (2.8%), 02
(1.4%) and 04 (2.8%) candidates scored pass, credit and distinction marks
respectively.

Majority of the candidates completely didn’t understand the apportionment process

(methods).

25
QUESTION 3: COST STATEMENTS AND SIMPLE BUDGETS

Candidates were required to use the given information to: -

(a) Explain the meaning of the term “budgetary control”.

(b) Describe any six major tasks of a budget committee.
(c) Identify any four contents of the budget manual.
(d) Prepare a purchase budget showing the total amount of the raw materials
purchased.

Candidates’ performance in this question was not satisfactory. Out of 141

candidates who answered the question only 07 (5.0%) candidates passed while the
remaining 134 (95.0%) candidates failed. Out of those who passed 06 (4.3%) and
01 (0.7%) candidates scored pass and credit marks respectively. No candidate
scored distinction marks in this question.

Majority of the candidates were completely weak in all asked questions.

QUESTION 4: A: PROCEDURES FOR ACCUMULATING LABOUR COSTS

B: INTRODUCTION TO PROCUREMENT

Candidates were required to use the given information to: -

(a) (i) Find out the number of workers left and discharged.
(ii) Determine the number of workers recruited and joined including
replacements.
(iii) Advise the Cost Accountant of a given company on how the labour
turnover can be treated in the books of accounts.

(b) (i) Explain five benefits of decentralized stores.

(ii) Explain five limitations of decentralized stores.

Candidates’ performance in this question was not satisfactory. Out of 141 candidates
who answered the question only 07 (5.0%) candidates scored pass marks while the
remaining 134 (95.0%) candidates failed. There were neither credit nor distinction
marks in this question.

Candidates showed weaknesses in all question requirements.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Examination

The panel of examiners found the examination to be fair, clearly worded and within
the prescribed syllabus. The examination questions were well mixed, containing
computational as well theoretical questions and could have easily been answered by
an average prepared candidate within the allocated time of three hours.

26
(b) Candidates Overall Performance
Candidates’ performance in this examination paper was satisfactory. Out of 141
candidates who answered the examination, 57 (40.4%) candidates scored pass marks
while the remaining 84 (59.6%) candidates failed. Out of those who passed 53
(37.6%) and 04 (2.8%) candidates scored pass and credit marks respectively. No
distinction marks scored in this examination paper.

Candidates’ over-all performance in the subject is as shown on table 6.1.4

TABLE 6.1.4

T.06 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF
0-49 50-69 70-79 80-100 TOTAL
MARKS
NO. OF CANDIDATES
84 53 04 00 141
(FREQUENCY)
PERCENTAGE 59.6 37.6 2.8 0.0 100

TABLE 6.1.5
T.06. COMPARISON OF PASS RATE WITH NOVEMBER 2022 EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

51 out of 121 42.1 57 out of 141 40.4

27
T.07 - ELEMENTS OF COMMERCIAL KNOWLEDGE, MANAGEMENT
PRACTICES AND TAXATION

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome for this paper is to test candidates’ ability to apply
knowledge of commerce, commercial law, management and taxation in managing
business functions.

II: STRUCTURE OF THE PAPER

The paper comprised of four compulsory questions. Question one was an objective type
which carried 40% of the total marks.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

In this paper, candidates were tested on the following topics:

QUESTION 1: VARIOUS TOPICS:

Candidates were required to;
(a) Choose the most correct answer from the four given alternatives.
(b) Write whether is true or false for each of the given statements.
(c) Pair each item from List A with an item from List B appropriately.

Candidates’ performance in this question was satisfactory. Out of 100 candidates

who answered the question, 79 (79.0%) candidates passed while the remaining
21 (21.0%) candidates failed. Out of those who passed 63 (63.0%), 13 (13.0%)
and 03 (3.0%) candidates scored pass, credit and distinction marks respectively.

Some candidates were guessing answers, particularly true and false category,
rather than answering with knowledge of the truth.

QUESTION 2: A. INTERNATIONAL TRADE

B. WAREHOUSING
C. BUSINESS CONTRACTS
D. LAW OF PUBLIC PROCUREMENT

Candidates were required to use the given information to:

(a) Explain any five factors that affect international trade.
(b) Elaborate five disadvantages of warehousing.
(c) Explain three types of mistakes which do not affect the validity of
the contract.
(d) Explain any five contents of a tender document.
Candidates’ performance in this question was satisfactory. Out of 100
candidates who answered the question, 79 (79.0%) candidates passed while the
remaining 21 (21.0%) candidates failed. Out of those who passed 53 (53.0%),
25 (25.0%) and 01 (1.0%) candidates scored pass, credit and distinction marks
respectively.

There is no any weakness noted in this question.

28
QUESTION 3: A. INTRODUCTION TO TAXATION
B. OFFICE MANAGEMENT AND MECHANIZATION
Candidates were required to:

(a) Write brief notes on the following;

(i) Total income
(ii) Tax audit
(iii) Tax refund
(iv) Capital gain
(v) Excise tax

(b) Write down any three advantages and three disadvantages of numerical
filing.

(c) Explain any four importance of directing as a management function

Candidates’ performance in this question was satisfactory. Out of 100 candidates

who answered the question, 83 (83.0%) candidates passed while the remaining
17 (17.0%) candidates failed. Out of those who passed 35 (35.0%), 16 (16.0%)
and 32 (32.0%) candidates scored pass, credit and distinction marks respectively.

No specific weakness noted in this question.

QUESTION 4: A. LAW OF SALES OF GOODS

B. INSURANCE
C. INTRODUCTION TO INCOME TAX PRINCIPLES

Candidates were required to:

(a) Explain three classifications of goods in business law.

(b) Explain any five benefits of insurance.
(c) Explain five risks associated with withholding tax.

Candidates’ performance in this question was not satisfactory. Out of 100

candidates who answered the question only 19 (19.0%) candidates passed while
the remaining 81 (81.0%) candidates failed. Out of those who passed 16 (16.0%)
and 03 (3.0%) candidates scored pass and credit marks respectively. No
candidate scored distinction marks in this question.

Majority of the candidates failed to classify goods in business law. They also
failed to explain risks associated with withholding tax.

29
IV: GENERAL OBSERVATIONS
(a) Assessment of the Examination
The panel of examiners found the examination to be fair in relation to the level
of candidate examined, with mixture of easy and difficult questions and could be
answered within the allocated time of three hours by an average prepared
candidate.

(b) Candidates’ Overall Performance

Candidates’ over-all performance in the subject is as shown in table 6.1.6

Candidates’ performance in this examination paper was satisfactory. Out of 100

candidates who answered the examination, 73 (73.0%) candidates scored pass
marks while the remaining 27 (27.0%) candidates failed. Out of those who passed
70 (70.0%) and 03 (3.0%) candidates scored pass and credit marks respectively.
No distinction marks scored in this examination paper.

T TABLE 6.1.6
A T.07 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-49 50-69 70-79 80-100 TOTAL

NO. OF CANDIDATES
27 70 03 00 100
(FREQUENCY)

PERCENTAGE 27.0 70.0 3.0 0.0 100

TABLE 6.1.7
T.07 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

71 out of 85 83.5 73 out of 100 73.0

30
T.08 ACCOUNTING FOR PUBLIC SECTOR AND COOPERATIVES

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to test candidates’ ability to apply public sector
and cooperative accounting knowledge and skills to manage government and cooperative
funds economically, efficiently and effectively in accordance with the constitution, laws,
rules and regulations in one or more specialized fields.

II: STRUCTURE OF THE PAPER

The paper comprised of four compulsory questions. Question one was an objective type
which carried 40% of the total marks.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
In this paper, candidates were tested on the following topics:

QUESTION 1: VARIOUS TOPICS

Candidates were required to:
(a) Choose the most correct answer among the given alternatives and write its
appropriate letter.
(b) State whether the statement is true or false and write ‘True’ for the correct
statement and ‘False’ for the incorrect statement.
(c) Pair each item from List A with an item from List B appropriately.

Candidates’ performance in this question was satisfactory. Out of 131 candidates

who answered the question, 99 (75.6%) candidates passed while the remaining 32
(24.4%) candidates failed. Out of those who passed 71 (54.2%), 23 (17.6%) and 05
(3.8%) candidates scored pass, credit and distinction marks respectively.

Most of the candidates passed this question, no major weakness noted.

QUESTION 2: A. ACCOUNTING FOR GOVERNMENT REVENUE AND EXPENDITURES
B. BASES OF PUBLIC SECTOR ACCOUNTING AND REPORTING
Candidates were required to use the given information to:
(a) Prepare the agency payroll from the given information for the given year.
(b) (i) Explain the term “Revenue refund” as used in public sector accounting.
(ii) Explain the four procedures of refund of revenue followed by the public
organizations.
(c) Differentiate between “Accrual basis accounting” and “Cash basis
accounting”.

Candidates’ performance in this question was not satisfactory. Out of 131

candidates who answered the question only 04 (3.1%) candidates passed while the
remaining 127 (96.9%) candidates failed. Out of those who passed 02 (1.5%) and
02 (1.5%) candidates scored pass and credit marks respectively. No candidate
scored distinction marks in this question.

31
 Most of the candidates failed to differentiate basic salary and gross salary and were
unable to identify taxable allowance and non-taxable allowance. They failed to
differentiate organization liability in relation to employee liability, for example on
the case of NSSF contribution of which an employee contribute 10% and employer
contribute 10%.

QUESTION 3: A. PLANNING AND GOVERNMENT BUDGET

B. ANNUAL FINANCIAL STATEMENTS AND ACCOUNTS - UNDER
IPSASs AND PUBLIC FINANCE ACT

Candidates were required to use the given information to:

(a) Explain in brief, any five challenges involved in the budgeting process.
(b) Use the given ledger balance to prepare the authority trial balance as at a given
date.

Candidates’ performance in this question was satisfactory. Out of 131 candidates

who answered the question, 101 (77.1%) candidates passed while the remaining 30
(22.9%) candidates failed. Out of those who passed 48 (36.6%), 34 (26.0%) and 19
(14.5%) candidates scored pass, credit and distinction marks respectively.
Candidates failed to prepare the trial balance correctly. They did not understand
what should be debited and what should be credited, as they mixed entries.

QUESTION 4: ACCOUNTING FOR COOPERATIVES

Candidates were required to use the given information to: -
(a) (i) Identify four duties of the members towards the cooperative and other
members.
(ii) Explain five key characteristics or features of a cooperative society.
(iii) Explain five ways in which a cooperative society can raise money to
finance its activities.

(b) Prepare for the given Tea Marketing Cooperative Society Ltd, the crop
realization account for the given year ended.

Candidates’ performance in this question was satisfactory. Out of 131 candidates

who answered the question, 107 (81.7%) candidates passed while the remaining 24
(18.3%) candidates failed. Out of those who passed 49 (37.4%), 27 (20.6%) and 31
(23.7%) candidates scored pass, credit and distinction marks respectively.

Some candidates failed to make adjustments of the entries to be used in the

preparation of realization account.

32
IV: GENERAL OBSERVATIONS
(a) Assessment of the Examination
The panel of examiners found the paper to be fairly set, well balanced
containing a mixture of computational as well as theoretical questions. It was further
found to be within the syllabus and that it could have been done within the time
allocated of three hours.
(b) Candidates’ Overall Performance
Candidates’ performance in this examination paper was satisfactory. Out of 131
candidates who answered the examination, 95 (72.5%) candidates scored pass marks
while the remaining 36 (27.5%) candidates failed. Out of those who passed 93
(71.0%) and 02 (1.5%) candidates scored pass and credit marks respectively. No
distinction marks scored in this examination paper.

Candidates’ over-all performance in the subject is as shown on table 6.1.8

TABLE 6.1.8
T.08 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-49 50-69 70-79 80-100 TOTAL

NO. OF CANDIDATES
(FREQUENCY) 36 93 02 00 131

PERCENTAGE 27.5 71.0 1.5 0.0 100

TABLE 6.1.9
T.08. COMPARISON OF PASS RATE WITH NOVEMBER 2022 EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

42 out of 79 53.2 95 out of 131 72.5

33
PROFESSIONAL LEVEL EXAMINATIONS FOUNDATION LEVEL EXAMINATIONS

This is the first level of the Board’s three tier professional examination scheme which leads
to the Certified Public Accountant [CPA (T)] award.
The Foundation level examinations comprise of six subjects as indicated hereunder:
A1 Quantitative Techniques
A2 Business and Management
A3 Accounting
A4 Cost Accounting
A5 Business Law
A6 Business Economics
The examinations draw candidates from two main sources, namely: -
(a) Those candidates who have successfully completed the Board’s Accounting Technician
Level examinations.
(b) Those candidates who have acquired non-accounting first degree (or its equivalent)
qualifications awarded by institutions of higher learning in the country recognized by the
Board.

GENERAL OBSERVATIONS

973 candidates applied for the Foundation Level examinations. 83 (8.5%) candidates were
absent. Therefore 890 (91.5%) candidates sat for the examinations. 149 (16.7%) candidates failed,
451 (50.7%) passed some of the subjects and 290 (32.6%) passed all the papers and therefore
eligible for the STATEMENT OF SUCCESS for ATEC Foundation Level.
The general performance subject-wise is as shown on Table 7.1

TABLE 7.1
FOUNDATION LEVEL SUBJECT-WISE PERFORMANCE ANALYSIS: NOVEMBER
2022 AND NOVEMBER 2023
Paper Performance
Code Subject November November
No. 2022 2023
Entries Pass % Entries Pass %
A1 Quantitative Techniques 267 131 49.3 363 178 49.0
A2 Business and Management 176 169 96.0 283 267 94.3
A3 Accounting 385 317 82.6 541 495 91.5
A4 Business Information 450 261 58.0 554 260 46.9
A5 Business Law 274 152 55.5 359 170 47.4
A6 Business Economics 147 85 57.8 233 177 75.9

34
A1 – QUANTITATIVE TECHNIQUES
I: PRINCIPAL LEARNING OUTCOME
Principal learning outcome of this paper is to examine candidates’ ability to apply knowledge
and skills of mathematical and quantitative techniques, concepts and tools in the day-to-
day accounting, business functions and decision making.
II: STRUCTURE OF THE QUESTION PAPER
The paper consisted of three compulsory questions. Question one was an objective question
which carried 40% of the total marks.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
In this examination session, candidates were tested on the following topics:
QUESTION 1: VARIOUS TOPICS:
Candidates were required to: -
(a) Choose the most correct answer among the four given alternatives.
(b) State whether the statement is true or false.
(c) Pair the given items in list A with those in list B to produce complete and
meaningful sentences.
Candidates’ performance in this question was satisfactory. Out of 363 candidates
who answered the question, 308 (85.0%), candidates passed while the remaining 55
(15.0%) candidates failed. Out of those who passed 214 (59.0%), 91(25.0%) and
03 (1.0%) candidates scored pass, credit and distinction marks respectively.

Most of candidates failed were not conversant with items involving calculus and
theory of the firm topics.

QUESTION 2: LINEAR PROGRAMMING AND SHADOW VALUE AND SIMULATION

From the given scenario, candidates were required to: -
(a) Define the given five terms (Slack variable, surplus variable, feasible variables
feasible region, feasible solution and bounded solution)

(b) Formulate the problem of deciding how much of each product to make in the
current week as a linear program.

(c) Write how does the route Carlo simulation will be achieved

Candidates’ performance in this question was not satisfactory. Out of 363

candidates who answered the question only 14 (3.9%) candidates scored pass marks
while the remaining 349 (96.1%) candidates failed. There was neither credit nor
distinction marks in this question.

Most candidates failed to define given terms, formulate the linear programming and
to show how the route Carlo simulation would be achieved.

35
QUESTION 3: CALCULUS AND THEORY OF THE FIRM
Candidates were required to:
(a) Mention two applications of calculus in business.
(b) Explain cost, demand, revenue and profit functions as applied in business
calculus
(c) Apply the calculus in business scenario
Candidates’ performance in this question was satisfactory. Out of 363 candidates who
answered the question 180 (49.6%) candidates passed while the remaining 183
(50.4%) candidates failed. Out of those who passed 78 (21.5%), 60 (16.5%) and
42(11.6%) candidates scored pass, credit and distinction marks respectively.

Most candidates failed to state the application of business calculus, find break-even
point and total cost function from marginal cost.

QUESTION 4: NETWORK ANALYSIS AND PROJECT SCHEDULING

The candidates were required to determine: -
(i) Duration and variance of every activity
(ii) Duration of the project.
(iii) That the project will be completed in 17 days from its start
Candidates’ performance in this question was not satisfactory. Out of 363
candidates who answered the question only, 92 (25.3%), candidates passed while
the remaining 271(74.7%) candidates failed. Out of those who passed 50 (13.8%),
35 (9.6%) and 7 (1.9%) candidates scored pass, credit and distinction marks
respectively.
Most of candidates failed to apply expected duration formula and variance formula,
correctly.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Paper

The panel of examiners found the paper to be fairly set, well balanced with a good
mixture of theoretical and computational questions. Time allocated to the questions
was adequate to enable an average candidate to complete the examination.
(b) Candidates’ performance
Candidates’ performance in this examination paper was satisfactory. Out of 363
candidates who answered the examination, 178 (49.0%) candidates passed while the
remaining 185 (51.0%) candidates failed. Out of those who passed 140 (38.6%) and
38 (10.4%) candidates scored pass and credit marks respectively. No candidate scored
distinction marks in this paper.

36
 Candidates’ overall performance in the subject is as shown on Table 7.1.1

TABLE 7.1.1
A1 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES 185 140 38 00 363

(FREQUENCY)

PERCENTAGE 51 38.6 10.4 00 100

TABLE 7.1.2
A1 COMPARISON OF PASS RATE WITH NOVEMBER 2022 EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

215 out 285 75.5 178 out of 363 49.0

37
A2 – BUSINESS AND MANAGEMENT
I: PRINCIPAL LEARNING OUTCOME
Principal learning outcome of this subject is to test candidates’ ability to apply concepts and
principles of business and management in business environment.
II: STRUCTURE OF THE PAPER
The paper consisted of three questions which were compulsory. Question one was an
objective question which comprised of 40% of the total marks.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
In this examination session, candidates were tested on the following topics:
QUESTION 1: VARIOUS TOPICS:
Candidates were required to: -
(a) Choose the most correct answer among the given alternatives.
(b) State whether the given statement is true or false.
(c) Pair each item from list A with the item from list B appropriately.
Candidates’ performance in this question was satisfactory. Out of 283
candidates who answered the question, 243(86.0%) candidates passed while the
remaining 40 (14.0%) candidates failed. Out of those who passed 129 (46.0%),
100 (35.0%) and 14 (5.0%) candidates scored pass, credit and distinction marks
respectively
No common weakness was noted in this question.
QUESTION 2: OPERATIONS MANAGEMENT
Candidates were required to explain: -
(a) Five stages to effective quality control
(b) Five advantages of producing quality products and services
(c) Four advantages of quality assurance
(d) Five advantages of job production
Candidates’ performance in this question was satisfactory. Out of 183
candidates who answered the question, 275 (97.0%), candidates passed while
the remaining 08 (3.0%) candidates failed. Out of those who passed 42
(15.0%), 119 (42.0%) and 114 (40.0%) candidates scored pass, credit and
distinction marks respectively.
No major weakness noted in this question.

QUESTION 3: BUSINESS PLANNING

From the given scenario, candidates were required to explain;

(i) The concept of strategic planning
(ii) Five crucial areas to concentrate on for greatest impact.
(iii) Benefit of wheeling opportunism instead of formal strategic planning
(iv) The strategic plan created can be translated into competitive advantages

38
 Candidates’ performance in this question was satisfactory. Out of 283
candidates who answered the question, 119 (42.0%) candidates passed while
the remaining 164(58.0%) candidates failed. Out of those who passed 86
(30.0%), 31 (11.0%) and 02 (1.0%) candidates scored pass, credit and
distinction marks respectively.

Most of the candidates failed to understand the concepts of the question

QUESTION 4: MARKETING STRATEGIES

Candidates were required to: -

(a) Explain the meaning of the marketing strategy

(b) Explain the relationship between the product life cycle and the marketing
strategies

(c) Elaborate five international opportunities that result from implementing

international strategy.

(d) Explain five modes of entry into the international market.

Candidates’ performance in this question was satisfactory. Out of 283

candidates who answered the question, 260 (92%), candidates passed while the
remaining 23 (08%) candidates failed. Out of those who passed 58 (20.0%),
135(48.0%) and 67 (24.0%) candidates scored pass, credit and distinction
marks respectively.
No major weakness observed on this question

IV: GENERAL OBSERVATIONS

(a) Assessment of the Paper

The panel of examiners found the paper to be well spread within the syllabus
which resulted to the candidates’ good performance.

(b) Candidates’ overall performance

Candidates’ performance in this examination paper was satisfactory. Out of
283 candidates who answered the examination, 267 (94.3%) candidates passed
while the remaining 16 (5.7%) candidates failed. Out of those who passed 152
(53.7%), 110 (38.9%) and 05 (1.7%) scored pass, credit and distinction marks
respectively.

Candidates’ over-all performance in the subject is as shown on Table 7.1.3

39
 TABLE 7.1.3

A2 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES (FREQUENCY) 16 152 110 05 283

PERCENTAGE 5.7 53.7 38.9 1.7 100

TABLE 7.1.4
A2 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

163 out of 182 89.6 267 out of 283 94.3

40
A3 – ACCOUNTING

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to examine candidates’ ability to apply
knowledge and skills in recording financial transactions and preparing financial
statements for an entity including not for profit entities in accordance with the IFRSs and
IPSASs.

II: STRUCTURE OF THE PAPER

The paper comprised four compulsory questions. Question one was an objective question
which carried 40% of the total marks.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

The A3-Accounting subject this session tested candidates on the following topics:

QUESTION 1: VARIOUS TOPICS

Candidates were required to: -

(a) Choose the most correct answer among the given alternatives.
(b) State whether the statement is true or false.
(c) Pair each item from list A with the item from list B appropriately.

Candidates’ performance in this question was satisfactory. Out of 541

candidates who answered the question, 527 (97%), candidates passed while the
remaining 14 (03%) candidates failed. Out of those who passed 123 (23%),
260 (48%) and 144(27%) candidates scored pass, credit and distinction marks
respectively.

No major weakness observed on this question

QUESTION2: INTRODUCTION TO BASIC FINANCIAL STATEMENTS,

PREPARATION OF THE STATEMENTS OF CASH FLOWS

From the given information candidates were required to: -

(a) Prepare financial statements
(b) Explain benefits and limitation of cash flows.

Candidates’ performance in this question was not satisfactory. Out of 541

candidates who answered the question 264 (49%), candidates passed while the
remaining 277 (51.0%) candidates failed. Out of those who passed 195 (36.0%),
63 (12.0%) and 06 (1.0%) candidates scored pass, credit and distinction marks
respectively.

Most candidates failed to make adjustments before preparation of financial

statements.

41
QUESTION 3: PREPARATIONS OF MANUFACTURING ACCOUNTS AND
RECORDING BUSINESS TRANSACTIONS

Candidates were required to use the given information to: -

(a) (i) Calculate the Accumulative funds.
(ii) Prepare Subscriptions Account for the year ended.
(iii) Prepare Receipts and Payments Account.

(b) (i) Prepare the Manufacturing Accounts

(ii) Prepare Statement of Profit or Loss for the year ended

Candidates’ performance in this question was satisfactory. Out of 541

candidates who answered the question 279 (52.0%), candidates passed while the
remaining 262 (48.0%) candidates failed. Out of those who passed 170 (31.0%),
92 (17.0%) and 17 (3.0%) candidates scored pass and credit marks respectively.

No major weakness observed in this question

QUESTION 4: BANK RECONCILIATION

Candidates were required to use the given information to: -

(a) Preparation of adjusted cash book.

(b) Preparation of bank reconciliation statement
(c) State reasons for preparing bank reconciliation statement.

Candidates’ performance in this question was satisfactory. Out of 541 candidates

who answered the question, 395 (73.0%), candidates passed while the remaining
146 (27.0%) candidates failed. Out of those who passed 230 (42.5%), 135
(25.0%) and 30 (5.5%) candidates scored pass, credit and distinction marks
respectively.
Some candidates in bank reconciliation mixed entries.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Paper
The panel of examiners found the paper to be fair with adequate coverage of the
syllabus. The panel also observed that candidates could manage to complete the
examination within the allocated time.

(b) Candidates’ Performance

Candidates’ performance in this examination paper was satisfactory. Out of 541
candidates who answered the examination, 495 (91.5%) candidates passed while
the remaining 46 (8.5%) candidates failed. Out of those who passed 374(69.1%),
113 (20.9%) and 08 (1.5%) candidates scored pass, credit and distinction marks
respectively.

42
The candidates’ overall performance in the subject is as shown in Table 7.1.5.

TABLE 7.1.5

A3 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES
46 374 113 08 541
(FREQUENCY)

PERCENTAGE 8.5 69.1 20.9 1.5 100

TABLE 7.1.6
A3 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

306 out of 357 85.7 495 out of 541 91.5

43
 A4 – COST ACCOUNTING

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to examine candidates’ ability to apply
knowledge of cost analysis and awareness of information technology to produce accurate
and useful information to support management in decision-making and its application in
performance management.

II: STRUCTURE OF THE QUESTION PAPER

The paper comprised four compulsory questions. Question one was an objective question
which carried 40% of the total marks.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

In this examination session, candidates were examined on the following topics:

QUESTION 1: VARIOUS TOPICS

(a) Candidates were required choose the most correct answer among the four given
alternatives.
(b) Candidates were required to state whether the statement is true or false.
(c) Candidates were required to pair each item from list A with the item from list B
appropriately.
Candidates’ performance in this question was satisfactory. Out of 554 candidates who
answered the question, 537 (96.9%), candidates passed while the remaining 17 (3.1%)
candidates failed. Out of those who passed 151(27.3%), 304 (54.9%) and 82 (14.8)
candidate scored pass, credit and distinction marks.

No major weakness was noted in this question.

QUESTION 2: COSTING

Candidates were required to use the given information to:

(a) Determine the value of closing stock for each of the two months under marginal
costing and absorption costing approaches
(b) Prepare Income Statement for each of the two months using absorption costing
approach.

Candidates’ performance in this question was not satisfactory. Out of 554 candidates
who answered the question only 113 (20.4%) candidates passed while the remaining 441
(79.6%) candidates failed. Out of those who passed 65 (11.7%), 31 (5.6%) and 17 (3.1%)
candidates scored pass, credit and distinction marks respectively.

Most candidates failed to prepare income statement by using absorption costing approach.

44
 QUESTION 3: (i) INTRODUCTION TO DECISION MAKING,
(ii) MANAGEMENT OF INFORMATION SYSTEMS
Candidates were required to:
(a) Explain given terms as they relate to system testing
(i) Dynamic and static testing
(ii) Performance testing and usability testing.
(iii) Regression testing and user acceptance testing

(b) Use given information to:

(i) State areas CAST would be useful
(ii) State problems of CAST.

(c) Use given information to calculate for the next month the estimated
(i) Variable cost per unit
(ii) Contribution/Sales ratio.
(iii) Break-even point (in revenue).
(iv) Margin of safety as a % of sales
(v) Net profit

(d) Use a given scenario to:

(i) Advise, using supporting calculations, which mail order options
should be accepted
(ii) State assumptions in cost-volume profit analysis.

Candidates’ performance in this question was not satisfactory. Out of 554

candidates who answered the question, only 07 (1.3%) candidates passed while
the remaining 547 (98.7%) candidates failed. Out of those who passed 06 (1.1%)
and 01 (0.2%) candidates scored pass and distinction marks. No candidate scored
credit marks.
Majority of candidates failed totally to understand the question.

QUESTION 4: BUDGETING

Candidates were required to:

(a) Calculate the cash requirements for the first two quarters

Candidates’ performance in this question was not satisfactory. Out of 554 candidates
who answered the question only 03 (0.5%), candidates scored pass marks while the
remaining 551 (99.5%) candidates failed. No candidates scored credit or distinction
marks.
Generally, candidates’ performance in this question was very poor and the major
weakness noted was that candidates were unable to understand the requirement
of this question.

45
IV: GENERAL OBSERVATIONS

(a) Assessment of the paper

The panel of examiners found the examination to be fair, well balanced
containing both easy and moderate questions which were relevant to the
candidates’ level and was well within the prescribed syllabus. It was examiners’
view that the paper could have been well attempted within the allocated time of
three hours by an average candidate.

(b) Overall Candidates performance

Candidates’ performance in this examination paper was satisfactory. Out of 554
candidates who answered the examination, 260 (46.9%), candidates passed while
the remaining 294 (53.1%) candidates failed. Out of those who passed 248
(44.8%), (6.7%) and 01 (0.2%) candidates scored pass, credit and distinction
marks respectively.

The candidates’ overall performance in the subject is as shown on table 7.1.7.

TABLE 7.1.7

A4 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES 294 248 11 01 554

(FREQUENCY)

PERCENTAGE 53.1 44.8 2.0 0.2 100

TABLE 7.1.8
A4 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

358 out of 470 76.2 260 out of 554 46.9

46
A5 – BUSINESS LAW

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to examine candidates’ ability to apply theories,
practices and laws governing business in providing accounting services and protecting
business against unnecessary litigations.
II: STRUCTURE OF THE QUESTION PAPER
The paper comprised seven questions. Candidates were required to answer five
questions.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
In this examination session, candidates were examined on the following topics:

QUESTION 1: THE LEGAL SYSTEM OF TANZANIA

Candidates were required to:

(a) Explain the meaning and characteristics of adversarial legal system.
(b) State the circumstances under which the court may apply common law in
Tanzania.
(c) Differentiate between principal legislation and subsidiary legislation.

Candidates’ performance in this question was not s a t i s f a c t o r y. Out of 205

candidates who answered the question only 22 (10.7%) candidates passed while
the remaining 1 8 3 (89.3%) candidates failed. Out of those who passed 17 (8.3%),
03 (1.5%) and 02 (0.9%) candidates scored pass, credit and distinction marks
respectively.

Candidates failed to explain the meaning and characteristics of adversarial legal system
instead they provided the meaning of legal system.

QUESTION 2: CRIMINAL OFFENCES

Candidates were required to:

(a) Explain the type of offence committed and provide its ingredients.
(b) Explain the offence of changing the figures in the books of account and its
basic elements
(c) Explain the offence of bribery and state the law governing it in Tanzania.

Candidates’ performance in this question was satisfactory. Out of 263candidates

who answered the question, 112 (42.6%) candidates passed while the remaining
1 5 1 (57.4%) candidates failed. Out of those who passed 94 (35.7%), 17(6.5) and
01 (0.4%) candidates scored pass, credit distinction marks respectively.

The major weakness was on candidate’s ability to understand the elements of the
offence and specific laws governing criminal offence.

47
QUESTION 3: EMPLOYMENT LAW
Candidates were required to:
(a) Describe grounds that an employer may use to justify terminating a
contract of employment

(b) Discuss the importance of distinguishing between contract of service and

contract for service.

Candidates’ performance in this question was not satisfactory. Out of 322

candidates who answered the question 73 (22.7%) candidates passed while the
remaining 2 4 9 (77.3%) candidates failed. Out of those who passed 49 (15.2%),
20 (6.2%) and 04 (1.2) candidates scored pass, credit and distinction marks
respectively.
Candidates were unable to demonstrate an understanding of the importance of
distinguishing between contract of service and contract for services instead all
candidates explained the difference between the two forms of contract.

QUESTION 4: LAW OF AGENCY

Candidates were required to:

(a) (i) Describe rights of a sub-agent.

(ii) Explain how a sub-agent may be appointed

(b) Explain the notion of ratification and its effects

(c) Explain the outcome of Juksi’s and Nandipa cases.

Candidates’ performance in this question was satisfactory. Out of 178 candidates

who answered the question, 77 (43.3%) candidates passed while the remaining
101 (56.7%) candidates failed. Out of those who passed 47 (26.4%), 26(14.6%)
and 04 (2.2%) candidates scored pass, credit and distinction marks respectively.

Most of the candidates failed to describe the rights of a sub-agent and explain the
notion of ratification and its effects.

QUESTION 5: COMPANIES
Candidates were required to:

(a) Explain the concept of cumulative share and if payments of

previous dividends to the given person are justified.
(b) Explain if the given person is one and the same person.
(c) Explain the meaning of secured debenture.
(d) Explain the justification for paying the given person ahead of other
creditors.

48
 Candidates’ performance in this question was satisfactory. Out of 189 candidates
who answered the question 119 (63.0%) candidates passed while the remaining
70 (37.0%) candidates failed. Out of those who passed 65 (34.4%), 30 (15.9%)
and 24 (12.7) candidates scored pass, credit and distinction marks respectively.

Candidates were unable to differentiate between the creditor and shareholder

when it comes to payment of their claims.

QUESTION 6: THE LAW GEVERNING BUSINESS ORGANIZATIONS IN

TANZANIA; COMPANIES&PARTNERSHIP
Candidates were required to:
(a) Discuss the concept of corporate personality and circumstances under
which shareholders and/or directors can lose their assurance of limited
liability
(b) Distinguish a partnership from a private company registered in Tanzania
in terms of their formation, management, capacity, personality, liability
and the motive behind its formation.
(c) Discuss the given person’s chances of success

Candidates’ performance in this question was satisfactory. Out of 329 candidates

who answered the question, 258 (78.4%) candidates passed while the remaining
71 (21.6%) candidates failed. Out of those who passed 129 (39.2%),120 (36.5)
and 09 (2.7%) candidates scored pass and credit marks respectively.

Majority of candidates could not understand the liability of partner by holding

out. On other hand, some candidates did not understand the concept of corporate
personality and circumstances under which the corporate vail can be lifted.

QUESTION 7: THE LAW GOVERNING BUSINESS ORGANIZATIONS IN

TANZANIA
Candidates were required to explain:

(a) Describe the procedures for incorporating a company in Tanzania

(b) Explain the salient features attained by a company after its incorporation
(c) Explain how corporate entities are managed and the duties of corporate
directors as established under the relevant laws

Candidates’ performance in this question was satisfactory. Out of 293 candidates

who answered the question 194 (66.2%) candidates passed while the remaining
99 (33.8%) candidates failed. Out of those who passed 84 (28.7), 80 (27.3%)
and 30 (10.2%) candidates scored pass, credit and distinction marks respectively.

Few candidates failed to explain the silent features attained by company after
incorporation and some failed to explain the duties of corporate director.

49
IV: GENERAL OBSERVATION
(a) Assessment of the paper
The panel of examiners found the examination to be fair, well balanced
containing both easy and moderate questions which were relevant to the
candidates’ level and was well within the prescribed syllabus. It was
examiners view that the paper could have been well attempted within the
allocated time of three hours by an average candidate.

(b) Overall Candidates performance

Candidates’ performance in this examination paper was not satisfactory.
Out of 359 candidates who answered the examination 170 (47.4%),
candidates passed while the remaining 189 (52.6%) candidates failed. Out
of those who passed 146 (40.7%) and 24 (6.7%) candidates scored pass and
credit marks respectively. No candidate scored distinction marks in this
paper.
Candidates’ overall performance in the subject is as shown in table 7.1.9

TABLE 7.1.9

A5 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES 189 146 24 00 359
(FREQUENCY)
PERCENTAGE 52.6 40.7 6.7 0.0 100

TABLE 7.1.10
A5. COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

170 out of 267 63.7 170 out of 359 47.4

50
A6 – BUSINESS ECONOMICS

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to examine candidates’ ability to apply
economics theories and methodologies as alternatives in managerial decisions.

II: STRUCTURE OF THE QUESTION PAPER:

The paper comprised four questions. Question one was an objective question which
carried 40% of the total marks. Candidates were required to answer all questions.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

In this examination session, candidates were examined on the following topics:

QUESTION 1: VARIOUS TOPICS

Candidates were required to:
(a) Choose the most correct answer among the given alternatives.
(b) To pair each item from list A with a statement from list B appropriately.
(c) Write True for the correct statement and False for the incorrect statement.
Candidates’ performance in this question was satisfactory. Out of 233
candidates who answered the question, 208 (89.3%), candidates passed while
the remaining 25(10.7%) candidates failed. Out of those who passed 88
(37.8%),95 (40.8) and 25 (10.7%) candidates scored pass, credit and distinction
marks respectively.
Majority candidates attempted very well this question. No major
weakness was noted.
QUESTION 2: (i) THEORY OF CONSUMER BEHAVIOUR
(ii) DEMAND AND SUPPLY
(iii) NATURE AND SCOPE OF ECONOMICS
Candidates were required to:
(a) (i) Calculate the Cross Price Elasticity of Demand (XED) for Product A
in relation to the price change of Product B.
(ii) Deduce and explain the relationship between Product A and Product
B are they substitutes, complements, or unrelated.
(iii) Discuss the potential implications of our findings on Company X’s
pricing and marketing strategies.
(b) Explain the core principles of Utility theory and how individuals derive
satisfaction from consumption. Subsequently, differentiate between
Cardinal and Ordinal Utility theories in relation to how they measure
individual preferences and their applications in real-world scenarios.
(c) (i) Use the data given above, to determine the opportunity cost of producing
the 21st to 40th units of Apples in terms of foregone Bananas.
(d) Give a brief explanation of the concept of opportunity cost using the data
as an example.

51
 Candidates’ performance in this question was satisfactory. Out of 233
candidates who answered the question 108 (46.4%) candidates passed while 125
(53.6%) candidates failed. Out of those who passed 71 (30.5%), 35 (15.0%)
and 02 (0.9%) candidates scored pass, credit and distinction marks respectively.

Majority of candidates failed to explain and the core principles of utility theory and
how individual satisfaction from consumption. On other hand, candidates failed to
calculate the cross elasticity of demand.

QUESTION 3: i). NATIONAL INCOME ACCOUNTING

ii). MARKET STRUCTURE ANALYSIS
Candidates were required to:
(a) Describe how the kinked demand curve of an oligopoly firm is derived and
explain why price tends to be stable in oligopoly markets.
(b) (i) Explain the Gross Domestic Product (GDP) and outline any three (3)
items which are not included in its calculation
(ii) Describe how GDP is calculated using the expenditure and income
approaches
(iii) Explain the problem of “double-counting” and how it can be avoided in
calculating GDP

(c) Use the data in the table to calculate the:

(i) Gross Domestic Product (GDP)
(ii) Gross National Product (GNP)
(iii) Net National Product (NNP)
(iv) National Income at factor cost from NNP
Candidates’ performance in this question was not satisfactory. Out of 233
candidates who answered the question 93 (39.9%) candidates passed while the
remaining 140 (60.1%) candidates failed. Out of those who passed 58 (24.9%),
24(10.4%) and 11 (4.7%) candidates scored pass and credit marks.

Majority of candidates failed to explain the meaning of kinked demand and to

draw the diagram of kinked demand curve. On top of that, candidates failed to
calculate by using the correct formula of national income.

QUESTION 4: (i) THEORY OF MONEY, FINANCIAL INSTITUTIONS AND

MONETARY POLICY.
(ii) INTERNATIONAL TRADE THEORY AND POLICY.

Candidates were required to:

(a) Name the prominent monetary policy tools and briefly describe how each is
used.
(b) Outline undesirable effects of inflation on the economy.
(c) Describe instruments used to restrict international trade.

52
 Candidates’ performance in this question was satisfactory. Out of 233 candidates
who answered the question 190 (81.6%) candidates passed while the remaining
43 (18.4%) candidates failed. Out of those who passed 61 (26.2%),61 (26.2%)
and 68 (29.2%) candidates scored pass and credit marks.
Some candidates could not distinguish prominent monetary policies and other
monetary policy tools.

IV: GENERAL OBSERVATION

(a) Assessment of the paper
The panel of examiners found the examination to be fair, well balanced
containing both easy and moderate questions which were relevant to the
candidates’ level and was well within the prescribed syllabus. It was examiners
view that the paper could have been well attempted within the allocated time of
three hours by an average candidate.
(b) Overall Candidates performance
Candidates’ performance in this examination paper was satisfactory. Out of 233
candidates who answered the examination, 177 (76.0%), candidates passed while
the remaining 56 (24.0%) candidates failed. Out of those who passed 114(48.9%),
59(25.3) and 04(1.7%) candidates scored pass, credit and distinction marks
respectively.

Candidates’ overall performance in the subject is as shown in table 7.1.9.

TABLE 7.1.9

A6 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 0-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES 56 114 59 04 233
(FREQUENCY)
PERCENTAGE 24.0 48.9 25.3 1.7 100

TABLE 7.1.10
COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

123 out of 145 84.8 177 out of 233 76

53
INTERMEDIATE LEVEL EXAMINATIONS

The Intermediate level examinations are the second level of the Board’s professional examinations
under the current examination scheme and syllabus. This examination level consists of six subjects
as shown hereunder: -

B1 Financial Management
B2 Financial Reporting
B3 Auditing Principles and Practices
B4 Public Finance and Taxation
B5 Performance Management
B6 Management, Governance and Ethics

Under this examination scheme and syllabus, a candidate is required to complete Foundation Level
before moving to Intermediate Level. However, candidates who were caught in the transition from
the phased-out syllabus to the current syllabus were allowed to cross the levels.

GENERAL OBSERVATIONS
The examination draws candidates from the following sources:
(a) Candidates who have been referred previously in the respective corresponding subjects.
(b) Candidates who have majored in accounting in their bachelor degree programmes from
recognized institutions.

GENERALPERFORMANCE

3,913 candidates applied for the Intermediate Level examinations. 308 (7.9%) candidates were
absent. Therefore 3,605 (92.1%) candidates sat for the examinations. 1,170 (32.5%) candidates
failed, 1,878 (52.1%) passed some of the subjects and 557 (15.5%) passed all the papers and
therefore eligible for the STATEMENT OF SUCCESS for ATEC I.

The general performance subject-wise is as shown on Table 8.1 below:

TABLE8.1

INTERMEDIATE LEVEL SUBJECT-WISE PERFORMANCE ANALYSIS:

NOVEMBER 2022 AND NOVEMBER 2023
Paper Performance
Code No. November 2022 November 2023
Subject
Entries Pass % Entrie Pass %
B1 Financial Management 1,378 659 47.8 s
1,682 314 18.7
B2 Financial Reporting 1,594 628 39.4 1,874 891 47.6
B3 Auditing Principles and Practices 1,300 556 48.2 1,602 832 51.9
B4 Public Finance and Taxation 1,225 591 48.2 1,524 855 56.1
B5 Performance Management 1,595 630 39.5 1,662 711 42.8
B6 Management, Governance & 964 861 91.0 1,119 1,028 91.9
Ethics
54
B1 FINANCIAL MANAGEMENT

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this examination paper is to test candidates’ ability to apply
financial management knowledge and skills in valuing various assets as well as businesses;
in evaluating investment opportunities; in forecasting and planning financial needs of a
firm; in deciding on the level of debt financing to use relative to equity capital; in
determining the level of working capital to carry in a business and; in deciding on the share
of the earnings after tax between retained earnings and shareholders.

II: STRUCTURE OF THE PAPER

The paper had two sections A and B, with six questions carrying 20 marks each.
Candidates were required to answer question one in section A and any other four out of
five questions in Section B.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

The following topics were tested in this paper: -

QUESTION 1: PRINCIPLES OF VALUATION; FINANCING DECISIONS

Candidates were required to use the given information to: -

(a) Evaluate the broker’s advice considering that they view themselves as risk
averse investors.
(b) (i) Briefly explain why the covariance of a security with the rest of a
portfolio is more appropriate measure of risk than the security’s variance.
(ii) Describe the factors that determine the beta of a financial asset.

(c) Evaluate the lease offer if the appropriate discount rate is 8 percent per
annum.
(d) (i) Calculate the cost (in percentage terms) of servicing the bonds.
(ii) Calculate the amount raised from the sale or issue of the
(iii) Compute the amount of the company should earn annually to be able
to meet the return expectations of the supplier of funds.
(iv) Compute the Weighted Average Cost of Capital (WACC) for a given
company.

Candidates’ performance in this question was not satisfactory. Out of 1,682

candidates who answered the question only 148 (8.8%) candidates passed while
the remaining 1,534 (91.2%) candidates failed. Out of those who passed 145
(8.6%) and 03 (0.2%) candidates scored pass and credit marks respectively. No
candidate scored distinction marks in this question.

Most candidates failed to describe factors that determine beta of a financial

asset. Also, they failed to determine the cost of capital from the given scenario.

55
QUESTION 2: INTRODUCTION TO CORPORATE FINANCIAL DECISION
ENVIRONMENT; INVESTMENT DECISIONS

Candidates were required to: -

(a) Use the given information to:-
(i) Describe strategies you can use to ensure alignment between the
interest of shareholders and management in terms of financial
decision making

(ii) Suppose you discovered that the conflict is a result of shareholders

expecting regular dividends, while the management want to
reinvest profits into new projects. Describe how would you
reconcile these conflicting preferences, and what factors you
would consider.

(b) Use the given information to calculate:-

(i) Return On Capital Employed (ROCE) on an initial investment
basis.
(ii) Payback period.
(iii) Net Present Value (NPV) at the company’s cost of capital of 15%.

Candidates’ performance in this question was not satisfactory. Out of 1,501

candidates who answered the question only 04 (0.3%) candidates scored pass
marks while the remaining 1,497 (99.7%) candidates failed. There were
neither credit nor distinction marks in this question.

Candidates failed to compute appraisal techniques and to describe the agency

theory.

QUESTION 3: FINANCING DECISIONS; FINANCIAL PLANNING AND

FORECASTING
Candidates were required to use the given information to:-
(a) (i) Estimate the company’s cost of equity and cost of debt, using both the
dividend valuation model and the Capital Asset Pricing Model (CAPM).
(ii) Estimate the company’s overall capitalization rate, using both the
dividend valuation model and the Capital Asset Pricing Model
(CAPM).
(b) (i) Determine the additional funds needed assuming that the company was
operating at full capacity in 2022, that cannot sell off any of its fixed
assets, and that any required financing will be borrowed as notes
payables.

(ii) Forecast the year end (2023) balances of the following Statement of
Financial Position items:
• Receivables
• Net Fixed Assets
• Accruals
• Retained earnings

56
 Candidates’ performance in this question was not satisfactory. Out of 1,492
candidates who answered the question only 313 (21.0%) candidates passed
while the remaining 1,179 (79.0%) candidates failed. Out of those who passed
200 (13.4%), 77 (5.2%) and 36 (2.4%) candidates scored pass, credit and
distinction marks respectively.

Majority of candidates failed to calculate the capitalization rate and additional

funds needed.

QUESTION 4: PRINCIPLES OF VALUATION; FINANCING DECISIONS

(a) Candidates were required to use the given information to :-

(i) Calculate the after-tax cost of debt of the given company.
(ii) Calculate the Weighted Average After-Tax cost of capital of the
given company.

(b) Candidates were required to use the given information to:-

(i) State which option would shareholder prefer in the absence of
requirements to pay taxes and support their answers by showing how
much shareholder will receive under each alternative
(ii) State which option would investors prefer, especially those who are
exempted from paying taxes and support their answers with
calculations.
(iii) Identify any other two factors that they may consider in arriving at the
decision.

Candidates’ performance in this question was not satisfactory. Out of 1,307

candidates who answered the question only 20 (1.5%), candidates passed
while the remaining 1287 (98.5%) candidates failed. Out of those who
passed 15 (1.2%) and 05 (0.4%) candidates scored pass and credit. No
candidate scored distinction marks.

Candidates failed to compute after-tax cost of capital; they didn’t know how
to treat tax in the computation. Also, they failed to identify factors to arrive
to the decision.

QUESTION 5: FINANCING DECISIONS; PRINCIPLES OF VALUATION

(a) Candidates were required to use the information given to assess any four
ways in which these markets fulfill the crucial role of supporting businesses
in the two aspects.

(b) Candidates were required to use the provided information to:-

(i) determine cum-dividend and ex-dividend share prices.
(ii) determine the share price before and after share repurchase.

(c) Candidates were required to use the given information to evaluate the offers

57
 Candidates’ performance in this question was satisfactory. Out of
1,227candidates who answered the question, 555 (45.2%) candidates passed
while the remaining 672 (54.8%) candidates failed. Out of those who passed
461 (37.6%), 93 (7.6%) and 01 (0.1%) candidates scored pass, credit and
distinction marks respectively.

Candidates failed to compute share prices (cum-Div and Ex-Div) for a

company which has excess cash and it expects to generate constant cash flows.
Also, they failed to compute share prices when the company decides to
repurchase shares with the use of excess cash.

QUESTION 6: FINANCING DECISIONS

Candidates were required to:

(a) Candidates were required to use the given information to:-
(i) Explain what would be the impact of the published information on the
company’s share price
(ii) Explain what would be the impact of the published information on the
company’s stock price
(iii) explain what are possible implications or signal will it give to the
investors when the capital market is not perfect
(iv) Explain what implication or signals will the company give to the
investors when the capital market is not perfect If it decides to
repurchase shares.

(b) Candidates were required to use the information given to:-

(i) Calculate the cost of capital of a given company according to the
traditional theory of capital structure using:
• Book Values
• Market Values
(ii) Comment on the use of book values in estimating the Weighted
Average Cost of Capital (WACC) for a firm.

Candidates’ performance in this question was not satisfactory. Out of 1,210

candidates who answered the question only 36 (3.0%) candidates\ scored
marks while the remaining 1,174 (97.0%) candidates failed.

Majority of candidates attempted one part of the question. Candidates failed

to relate the concepts of the capital market to the given company’s situation
to attempt the question.

58
IV: GENERAL OBSERVATIONS
(a) Assessment of the Paper
The panel of examiners found the paper to be quite adequate in terms of the
questions examined and time allocated for each question. The panel of markers
also found the paper to be well balanced, covering almost eighty percent of the
topics in the syllabus. The paper had a good mixture of theoretical and
computational questions.

(b) Candidates’ overall performance

Candidates’ performance in this examination paper was not satisfactory. Out of
1,682 candidates who answered the examination only 314 (18.7%), candidates
passed while the remaining 1,368 (81.3%) candidates failed. Out of those who
passed 305 (18.1%) and 09 (0.5%) candidates scored pass and credit marks
respectively. No candidate scored distinction marks in this examination paper.

The candidates ’over-all performance in the subject is as shown on Table 8.1.1

TABLE8.1.1

B1 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 00-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES (FREQUENCY) 1,368 305 09 0 1,682

PERCENTAGE 81.3 18.1 0.5 0.0 100

TABLE8.1.2
B1 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS
November 2022 November 2023
No. of candidates passed % No. of candidates passed %

659 out of 1,378 47.8 314 out of 1,682 18.7

59
B2 FINANCIAL REPORTING

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this examination paper is to test candidates’ ability to apply
knowledge and skills in preparation of financial statements for a separate entity and a group
in accordance with the IFRSs and IPSASs and analyze financial statements to examine the
sustainability of the business entity.

II: STRUCTURE OF THE PAPER

The paper had two sections A and B, with six questions carrying 20 marks each. Candidates
were required to answer question one in section A and any other four out of five questions
in Section B.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

The following topics were tested in this paper: -

QUESTION 1: PREPARING FINANCIAL STATEMENTS

Candidates were required to use the given information to prepare:

(a) Company’s Statement of Profit or Loss for the given period.

(b) Company’s Statement of Financial Position as at a the end of given year.

Candidates’ performance in this question was satisfactory. Out of 1,874

candidates who answered the question 873 (46.6%) candidates passed while the
remaining 1,001 (53.4%) candidates failed. Out of those who passed 754 (40.2%),
117 (6.2%) and 02 (0.1%) candidates scored pass, credit and distinction marks
respectively.

Most of the candidates demonstrated poor technical knowledge on the basics of

preparation of financial statements, they could not make basic computation such
as cost of goods sold (COGS).

QUESTION 2: PREPARING CONSOLIDATED FINANCIAL STATEMENTS

Candidates were required to use the given information to prepare the company’s
Consolidated Statement of Profit or Loss and Other Comprehensive Income for
the given year

Candidates’ performance in this question was not satisfactory. Out of 1,012

candidates who answered the question only 01 (0.1%) candidates scored pass
marks while the remaining 1,011 (99.9%) candidates failed. There were neither
credit nor distinction marks in this question.

Candidates failed to understand how to treat inter-company sales at cost plus five-
eight (5/8) which were made during the year.

60
QUESTION 3: PREPARING FINANCIAL STATEMENTS
Candidates were required to use the given information to prepare a Statement of
Cash Flows of a company for the given year in accordance with IAS 7: Statement
of Cash Flows.
Candidates’ performance in this question was not satisfactory. Out of 1,755
candidates who answered the question only 685 (39.0%) candidates passed while
the remaining 1,070 (61.0%) candidates failed. Out of those who passed 490
(27.9%), 165 (9.4%) and 30 (1.7%) candidates scored pass, credit and distinction
marks respectively.

Majority of candidates failed to differentiate between financing activities and

operating activity items.

QUESTION 4: FINANCIAL STATEMENT ANALYSIS AND EVALUATION

Candidates were required to use given information to;

(a) Explain how the differences between the given two companies might be
reflected on their accounting ratios.

(b) Calculate the following ratios for a given company for each of the two years
and comment on the results of these calculations.
(i) Return Operating profit
(ii) Current ratio
(iii) Quick ratio
(iv) Inventory holding period
(v) Receivable collection period
(vi) Capital gearing ratio
(vii) on capital employed

Candidates’ performance in this question was satisfactory. Out of 1,864

candidates who answered the question, 1,558 (83.6%) candidates passed while the
remaining 306 (16.4%) candidates failed. Out of those who passed 381 (20.4%),
683 (36.6%) and 494 (26.5%) candidates scored pass, credit and distinction marks
respectively.
Many candidates performed well in this question. However, some candidates
failed to differentiate group of ratios as they mix liquidity and profitability ratios,
they also failed to put number of days for receivable and inventory holding period
instead they used number of times.

QUESTION 5: PREPARING FINANCIAL STATEMENTS

Candidates were required to use the given information to:-
(a) (i) Explain the meaning of fair value in accordance with IFRS 13.
(ii) Explain the reasons why acquiree’s assets and liabilities are measured
and recognized at their fair value within the consolidated financial
statements.
61
 (b) Calculate the EPS for the given year and the restated EPS for the given year

(c) Candidates were required to use the given information to:-

(i) Determine if it is an onerous contract and to prepare the journal entry
required to report this contract.

(ii) Repeat part (i) assuming that the penalty for contract cancellation is
TZS.150,000,000 instead of TZS.75,000,000

Candidates’ performance in this question was not satisfactory. Out of 1,544

candidates who answered the question only 130 (8.4%) candidates passed while
the remaining 1,414 (91.6%) candidates failed. Out of those who passed 124
(8.0%), 05 (0.3%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.

Most candidates failed to understand the requirements of the question. They

explained the meaning of onerous contract which was not the requirement of the
question. Candidates failed to calculate EPS, also they failed to show the meaning
of fair value.

QUESTION 6: INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) AND

CONCEPTUAL FRAMEWORK; ELEMENTS OF FINANCIAL
STATEMENTS; PREPARING FINANCIAL STATEMENTS
(a) Candidates were required to use the given information to discuss how the
transactions should be treated in Company’s financial statements for the
given year in accordance with International Financial Reporting Standards
(IFRSs). (Showing all calculations wherever possible).

(b) Candidates were required to use the given information to:-

(i) Explain why is it important that the economic substance of a transaction
be reflected in the financial statements over its legal form.
(ii) Describe two example features of a transaction that suggest that its
economic substance may differ from its legal form.

(c) Candidates were required to use the given information to explain the
accounting treatment required to record a “change in accounting policy” and
a “change in accounting estimate” according to IAS 8.

Candidates’ performance in this question was not satisfactory. Out of 1,354

candidates who answered the question, 165 (12.2%) candidates passed while the
remaining 1,189 (87.8%) candidates failed. Out of those who passed 138 (10.2%),
24 (1.8%) and 03 (0.2%) candidates scored pass, credit and distinction marks
respectively.

Candidates showed poor preparation for examinations. Most of the candidates

didn’t attempt part (a) (Financial instruments).

62
IV: GENERAL OBSERVATIONS
(a) Assessment of the Paper
The panel of examiners found the paper to be quite adequate in terms of the questions
examined and time allocated for each question. The panel of markers also found the
paper to be well balanced, covering over eighty percent of the topics in the syllabus.
The paper had a good mixture of theoretical and computational questions.

(b) Candidates’ overall performance

Candidates’ performance in this examination paper was satisfactory. Out of 1,874
candidates who answered the examination 891 (47.5%), candidates passed while the
remaining 983 (52.5%) candidates failed. Out of those who passed 867 (46.3%) and
24 (1.2%) candidates scored pass and credit marks respectively. No candidate scored
distinction marks in this question.

The candidates’ over-all performance in the subject is as shown on table 8.1.3.

TABLE8.1.3

B2 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF
00-39 40-59 60-79 80-100 TOTAL
MARKS
NO. OF CANDIDATES 983 867 24 0 1,874
(FREQUENCY)
PERCENTAGE 52.5 46.3 1.3 0.0 100

TABLE8.1.4
B2 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

628 out 1,594 39.4 891 out of 1,874 47.6

63
B3 AUDITING PRINCIPLES AND PRACTICE
I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this examination paper is to test candidates’ ability to apply
auditing principles and standards in executing audit assignments (carrying out Audit
procedures) and coming up with appropriate reports, as well as implementing entity’s
internal control policies in carrying out internal audits.

II: STRUCTURE OF THE PAPER

The paper had two sections A and B, with six questions carrying 20 marks each. Candidates
were required to answer question one in section A and any other four out of five questions
in Section B.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

The following topics were tested in this paper: -

QUESTION 1: ASSURANCE REPORTS, TYPES AND THE CONTENT; INTERNAL

AUDIT OF ENTITIES

(a) Candidates were required to use the given information to explain the issues
that will be relevant to audit firm in deciding whether it can use the work
performed by the internal auditors.

(b) Candidates were required to use the given information to discuss three
advantages and two disadvantages of outsourcing the internal audit
function.

(c) Candidate were required to use the given information to evaluate the
appropriate of the draft audit opinions provided by the senior auditor for
the four clients mentioned and state the reasons for their conclusion in each
case.

Candidates’ performance in this question was satisfactory. Out of 1,602

candidates who answered the question, 775 (48.4%) candidates passed while the
remaining 827 (51.6%) candidates failed. Out of those who passed 427 (26.7%),
317(19.8%) and 31 (1.9%) candidates scored pass, credit and distinction marks
respectively.

Candidates showed poor preparation for examination. They failed to link

knowledge of the subject matter with the given case study.

64
QUESTION 2: THE NATURE OF AUDIT EVIDENCE AND THE SELECTION OF
SUFFICIENT APPROPRIATE EVIDENCE; PROFFESSIONAL
ETHICS, PUBLIC INTEREST, FUNDAMENTAL OBJECTIVES,
THREATS AND SAFEGUARDS TO INDEPENDENCE

(a) Candidates were required to use the given information to describe the audit
procedures they will perform in relation to the evidence of opening balances
of a given Company.

(b) Candidates were required to use the given information to:-

(i) Differentiate statistical sampling from non-statistical sampling

(ii) Describe the factors which the auditors should consider when
determining the size of a sample.

(c) Candidates were required to use the given information to assess the ethical
threats which may affect the independence of audit firm in respect of the audit of
a given Company. And to advise how each threat might be appropriately
managed.

Candidates’ performance in this question was satisfactory. Out of 1,536

candidates who answered the question, 911 (59.0%) candidates passed while the
remaining 625 (41.0%) candidates failed. Out of those who passed 662 (43.0%),
234 (15.0%) and 26 (1.0%) candidates scored pass, credit and distinction marks
respectively.

Most of the candidates failed to provide the audit procedures that would be
performed in relation to the evidence of opening balance. They also failed to
differentiate between statistical sampling and non- statistical sampling.

QUESTION 3: THE NATURE OF AUDIT EVIDENCE AND THE SELECTION OF

SUFFICIENT APPROPRIATE EVIDENCE; OBJECTIVES, PROCESS
AND NEED FOR EXTERNAL AUDIT AND ASSURANCE SERVICES

(a) Candidates were required to use the given scenario to:-

(i) Discuss the purpose of an auditor’s attendance at a client’s year-end
inventory count of a given Company

(ii) Describe seven audit procedures with regard to inventory that

members of an audit team should carry out after attending the year-
end inventory count of a company.

(b) Candidates were required to use the given information to:-

(i) Draft a memo to the audit partner identifying three pertinent audit
risks that may arise for a given company together with the reasons for
each risk

65
 (ii) Suggest an appropriate testing approach for each of the risks
identified in part (i).

(iii) Explain materiality and how it should be addressed during the course
of the audit

Candidates’ performance in this question was satisfactory. Out of 1,277

candidates who answered the question, 729 (57.1%), candidates passed while the
remaining 548 (42.9%) candidates failed. Out of those who passed 568 (44.6%),
145 (11.3%) and 16 (1.2%) candidates scored pass, credit and distinction marks
respectively.

Majority of the candidates failed to identify pertinent audit risks from the
provided scenario.

QUESTION 4: THE NATURE OF AUDIT EVIDENCE AND THE SELECTION OF

SUFFICIENT APPROPRIATE EVIDENCE; PUBLIC SECTOR
AUDITING
(a) Candidates were required to use the information given to prepare a draft
report on the major stages an auditor will go through during the Value For
Money (VFM) audit

(b) Candidates were required to use the information given to evaluate the
conclusions of each of the three groups and comment either on the
appropriateness or lack of appropriateness of the conclusions given out.

Candidates’ performance in this question was not satisfactory. Out of 899

candidates who answered the question only 263 (29.3%) candidates passed
while the remaining 636 (70.7%) candidates failed. Out of those who passed
205 (22.9%), 56 (6.2%) and 02 (0.2%) candidates scored pass, credit and
distinction marks respectively.

Most of the candidates rushed to attempt the question before understanding the
requirements. In part (a) s candidates explained components of value for money
(VFM) instead of the stages of value for money auditing.

QUESTION 5: THE NATURE OF AUDIT EVIDENCE AND THE SELECTION OF

SUFFICIENT APPROPRIATE EVIDENCE; PROFESSIONAL ETHICS,
PUBLIC INTEREST, FUNDAMENTAL OBJECTIVES, THREATS AND
SAFEGUARDS TO INDEPENDENCE

Candidates were required to use the information given to:

(a) (i) Identify the possible causes for the fall in payables days and the
implications it will have on the audit of payables of a given company

(ii) Explain, as auditor what additional evidence they will need to satisfy
themselves that the evidence they have obtained in relation to account
payable is sufficient and appropriate

66
 (b) Describe the audit procedures which may be applied by the auditor in
verification of Land and Building appearing on the Statement of Financial
Position and explain the purpose of each audit procedure.

(c) Describe the circumstances which indicate that auditors have not observed
the professional skepticism.

Candidates’ performance in this question was not satisfactory. Out of 1,221

candidates who answered the question only 153 (12.5%) candidates passed while
the remaining 1068 (87.5%) candidates failed. Out of those who passed 140
(11.5%), 12 (1.1%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.

Most candidates failed to state possible causes for the fall in payable days. They
also failed to state audit procedures for verification of land and building.

QUESTION 6: PROFESSIONAL ETHICS, PUBLIC INTEREST, FUNDAMENTAL

OBJECTIVES, THREATS AND SAFEGUARDS TO INDEPENDENCE:
OBJECTIVES, PROCESS AND NEED FOR EXTERNAL AUDIT AND
ASSURANCE SERVICES; THE NATURE OF AUDIT EVIDENCE AND
THE SELECTION OF SUFFICIENT APPROPRIATE EVIDENCE

Candidates were required to use the given information to:

(a) explain the items to be included in the audit engagement letter of a given
company.

(b) Discuss how the issue of concern outlined might impact the audit, whether
there are violations of the auditor’s ethical standards and identify any
safeguards the audit firm can take to ensure its independence is not threatened
by the issues mentioned.

(c) Describe the substantive procedures the auditor should perform to verify the
bank and cash balances of given company.

Candidates’ performance in this question was satisfactory. Out of 1,477 candidates

who answered the question 1,081 (73.2%), candidates passed while the remaining
396 (26.2%) candidates failed. Out of those who passed 454 (30.8%), 512 (34.7%)
and 115 (7.8%) candidates scored pass, credit and distinction marks respectively.

Some candidates failed to differentiate between contents of engagement letter and

elements of assurance services. They also failed to relate the answer to the case
studies provided.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Paper

The panel of examiners found the paper to be quite adequate in terms of the questions
examined and time allocated for each question. The panel of markers also found the
paper to be well balanced, covering almost eight five percent of the topics in the
syllabus. The paper had a good mixture of questions.
67
Candidates’ performance in this examination paper was satisfactory. Out of 1,602
candidates who answered the examination 832 (51.9%), candidates passed while the
remaining 770 (48.1%) candidates failed. Out of those who passed 804 (50.2%) and
28 (1.7%) candidates scored pass and credit marks respectively. No candidate scored
distinction marks in this question.

Candidates’ overall performance

The candidates’ over-all performance in the subject is as shown on table 8.1.5

TABLE 8.1.5

B3 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF MARKS 00-39 40-59 60-79 80-100 TOTAL

NO. OF CANDIDATES 770 804 28 00 1,602

(FREQUENCY)
PERCENTAGE 48.1 50.2 1.7 0.0 100

TABLE 8.1.6
B3 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %
556 out of 1,300 42.8 832 51.9

68
B4 PUBLIC FINANCE AND TAXATION

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this examination paper is to test candidates’ ability to apply
knowledge of public finance, tax laws and principles in the computation of tax liabilities,
preparation and filing of tax returns; and in administering compliance with the tax laws;
both in the public sector and in the private sector.

II: STRUCTURE OF THE PAPER

The paper had two sections A and B, with six questions carrying 20 marks each. Candidates
were required to answer question one in section A and any other four out of five questions
in Section B.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

The following topics were tested in this paper:

QUESTION 1: VALUE ADDED TAX, TAX LAWS AND CUSTOMS

Candidates were required to;

(a) Discuss the extent of insufficiency of the information provided, if any. In
case there is any insufficiency, suggest relevant information to be enquired.

(b) (i) State any six (6) regulations under the Income Tax and Value Added
Tax regimes.

(ii) From the employer’s perspective, explain tax treatment of the expenses
paid by the employer to an employee under one of the income tax
regulations in Tanzania.

(c) Briefly explain at least four (4) conditions to be fulfilled for granting duty
drawback.

Candidates’ performance in this question was not satisfactory. Out of 1,524

candidates who answered the question only 156 (10.2%) candidates passed while
the remaining 1368 (89.8%) candidates failed. Out of those who passed 142
(9.3%), 13 (0.9%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.

Most candidates who failed were not able to analyze what are the key
considerations for a transaction to qualify or to be taken into account when
deciding whether should be accounted for when computing input tax credit.

QUESTION 2: NON-COMPLIANCE WITH INCOME TAX ACT

Candidates were required to;
(a) (i) State the situation where a person would be regarded to have
underestimated income/tax
(ii) State the implications of underestimation of income/tax

69
 (b) (i) The amount of income tax payable on the income above (ignore any
interest and/or penalties.
(ii) Any non-compliance that the given name has committed in relation to
income taxation for the given year (ignore failure to register and obtain
TIN)
(iv) Calculate any penalties to which given name is liable in relation to (ii)
above (ignore calculations)
(iv) Any possibility that the given name income tax may be assessed on
presumptive tax basis and whether this will reduce tax payable.

(c) (i) Highlight five (5) indicators of an activity to be identified as one of an

investment nature rather than a business nature.

(ii) Compute the capital gain or loss arising from the sale of the above house.

Candidates’ performance in this question was not satisfactory. Out of 1,140

candidates who answered the question only 448 (39.3%) candidates passed while
the remaining 692 (60.7%) candidates failed. Out of those who passed 358
(31.4%), 89 (7.8%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.
Most of the candidates failed to apply resident individual income tax rate in
determining tax payable.

QUESTION 3: PUBLIC FINANCE AND NATIONAL INCOME

Candidates were required to:
(a) (i) Explain any limitations of external borrowings.
(ii) Explain the circumstances under which the government may struggle to
raise her revenue through external borrowing.

(b) Describe any six (6) factors distinguishing tax from other sources of
government revenue.

(c) Explain two advantages and two limitations of national income per capital.

(d) (i) explain any reasons behind replacing the seventh edition of the
Taxpayer’s Service Charter.
(ii) Explain the main objectives of the taxpayer’s Service Charter.
(iii) Explain any obligations of the Tanzania Revenue Authority to both
taxpayers and shareholders.

Candidates’ performance in this question was satisfactory. Out of 1,253

candidates who answered the question only 626 (50.0%) candidates passed while
the remaining 627 (50.0%) candidates failed. Out of those who passed 550
(43.9%), 75 (6.0%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.

70
 Most candidates failed to identify circumstances under which the government
may struggle to raise her revenue through external borrowings.

QUESTION 4: INCOME TAX

Candidates were required to use the given information to:
(a) Classify and pool the above assets into their respective classes for the given
year with the reference Tax Cap 332.
(b) Briefly explain the bases upon which income tax is imposed under section
4(1) of the Income Tax Act, Cap.332.
(c) Determine the possible set of change of year of income for the given year and
months.

Candidates’ performance in this question was not satisfactory. Out of 980

candidates who answered the question only 243 (25.0%) candidates passed while
the remaining 737 (75.0%) candidates failed. Out of those who passed 207
(21.1%), 34 (3.5%) and 02 (0.2%) candidates scored pass, credit and distinction
marks respectively.

Those who failed were not able to understand the requirements of the question.

QUESTION 5: CUSTOMS
Candidates were required to use the given information to:
(a) Explain any six (6) features of customs union.
(b) Describe inward processing and outward processing as used in customs laws
(c) Compute import duty, excise duty, VAT paid on importation of the given car’s
company name
(d) Explain any five (5) categories of goods exempted from customs duties.

Candidates’ performance in this question was not satisfactory. Out of 1,242

candidates who answered the question only, 472 (38.0%) candidates passed while
the remaining 770 (62.0%) candidates failed. Out of those who passed 382
(30.8%), 83 (6.7%) and 07 (0.6%) candidates scored pass, credit and distinction
marks respectively.

Most of candidates were not able to answer the given question.

QUESTION 6: TAX PLANNING, AVOIDANCE AND EVASION AND INCOME TAX

Candidates were required to:-
(a) Briefly explain four uses of national income statistics.
(i) Differentiate tax evasion from tax avoidance
(ii) Explain measures which can be taken to minimize tax evasion.

(b) Explain the nature and objectives of stamp duties.

(c) State any areas where a resident person is different from a non-resident
person in treatment as per the Income Tax Act, Cap.332.

71
 Candidates’ performance in this question was satisfactory. Out of 1,481 candidates
who answered the question, 3101 (87.8%) candidates passed while the remaining
180 (12.2%) candidates failed. Out of those who passed 550 (37.1%), 613 (41.4%)
and 138 (9.3%) candidates scored pass, credit and distinction marks respectively.
Some of candidates failed to explain the nature of stamp duties.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Paper
The panel of examiners found the paper to be quite adequate in terms of the
questions examined and time allocated for each question. The panel of markers also
found the paper to be well balanced with excellent spread of the topics in the
syllabus. The paper had a good mixture of theoretical and computational questions.
(b) Candidates’ overall performance
Candidates’ performance in this examination paper was satisfactory. Out of 1,524
candidates who answered the examination, 855 (56.1%) candidates passed while the
remaining 669 (43.9%) candidates failed. Out of those who passed 789 (51.8%), 66
(4.3%) ad 03 (0.2%) candidates scored pass, credit and distinction marks in this
examination paper.
The candidates’ over-all performance in the subject is as shown on Table 8.1.7

TABLE 8.1.7

B4 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF
MARKS 00-39 40-59 60-79 80-100 TOTAL
NO. OF CANDIDATES 669 789 66 00 1,524
(FREQUENCY)
PERCENTAGE 43.9 51.8 4.3 00 100

TABLE 8.1.8
B4 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %
591 out of 1,225 48.2 855 out of 1,524 56.1%

72
B5 PERFORMANCE MANAGEMENT
I: PRINCIPAL LEARNING OUTCOME
Principal learning outcome of this examination paper is to test candidates’ ability to apply
knowledge and skills of financial and non-financial data analysis in providing information
and decision support to management for decision-making, performance evaluation, and
control.
II: STRUCTURE OF THE PAPER
The paper had two sections A and B, with six questions carrying 20 marks each.
Candidates were required to answer question one in section A and any other four out of
five questions in Section B
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
The following topics were tested in this paper:
QUESTION 1: BUDGETARY PLANNING AND CONTROL
(a) Prepare a cash budget for the given year
(b) Comment on the usefulness of cash budget and the relevance of the breakdown
suggested by the given name

(c) Evaluate the relevance of JIT on cash budgeting.

Candidates’ performance in this examination paper was satisfactory. Out of 1,662
candidates who answered the examination, 1,156 (69.6%) candidates passed while
the remaining 506 (30.4%) candidates failed. Out of those who passed 609
(36.6%), 534 (32.1%) and 13 (0.8%) candidates scored pass, credit and distinction
marks in this examination paper.
Some of candidates mixing up explanations on cash budget and cash flows.

QUESTION 2: DECISION MAKING TECHNIQUES

(a) Calculate the minimum bid which the given company could make for the
contract and state any two factors that would determine the amount of mark-
up that the company can put on the bid.
(b) Explain the “difference between “uncertainty” and “risk” as used in decision
theory”, clearly indicating the decision-making approaches suitable under
each.

Candidates’ performance in this question was not satisfactory. Out of 1,189

candidates who answered the question only, 271 (22.8%) candidates passed while
the remaining 918 (77.2%) candidates failed. Out of those who passed 227
(19.1%), 43 (3.6%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.
Majority of candidates who failed the question fail to distinguish between relevant
and irrelevant cost.

73
QUESTION 3: STANDARD COSTING AND VARIANCE ANALYSIS
Candidates were required to;
(a) Calculate the total material efficiency variance for the given year
(b) Calculate the total material yield and mix variance for the given year
(c) Give the conclusion drawn from the variance analysis
Candidates’ performance in this question was not satisfactory. Out of 1,057
candidates who answered the question only, 255 (24.1%) candidates passed while
the remaining 802 (75.9%) candidates failed. Out of those who passed 97 (9.2%),
88 (8.3%) and 70 (6.6%) candidates scored pass, credit and distinction marks
respectively.
Some of candidates failed to understand the requirements of the question.

QUESTION 4: PERFOMANCE MEASUREMENT AND CONTROL

Candidates were required to use the given information to:
(a) Explain the concept of the “Balanced Scorecard”.
(b) Explain why the balanced scorecard approach to performance measurement
is more useful to measure performance for the given company than a
traditional approach using solely financial performance measures.
(c) Discuss the performance of the given company at the given year

Candidates’ performance in this question was not satisfactory. Out of candidates

1,283 who answered the question only 606 (47.2%) candidates passed while the
remaining 677 (52.8%) candidates failed. Out of those who passed 449 (35.0%),
143 (11.1%) and 14 (1.1%) candidates scored pass, credit marks and distinction
respectively.
Some candidates failed to understand the concept of the balance scorecard.
QUESTION 5: COST CLASSIFICATION AND ESTIMATION, ACTIVITY BASED
COSTING AND RELEVANT INFORMATION FOR DECISION MAKING
Candidates were required to use the given information to:
(a) Describe the main classifications of cost (Direct and Indirect, Product and
Period Relevant and irrelevant, including examples.
(b) (i) Calculate the unit cost of each product using Machine hours as an
overhead absorption basis.
(ii) Calculate the unit cost of each product using the Activity Based Costing
(ABC).
Candidates’ performance in this question was not satisfactory. Out of candidates
1,583 who answered the question only 716 (45.2%) candidates passed while the
remaining 867 (54.8%) candidates failed. Out of those who passed 300 (19.0%),
247 (15.6%) and 169 (10.7%) candidates scored pass, credit marks and distinction
respectively.
Most candidates failed to calculate the cost applicable to testing cost driver.

74
QUESTION 6: BUDGETARY PLANNING AND CONTROL & DECISION-MAKING
TECHNIQUES.
Candidates were required to use the given information to:
(a) Comment on the “role of flexible budgeting in performance management” of
a manufacturing firm

(b) Explain any four (4) objectives of budgetary planning and control system in
an organization.

(c) Distinguish between “Marginal Cost” and “Differential Cost”.

(d) (i) Prepare a summary which shows the budgeted contribution earned by the
given company for the given year for each of the above nine possible
outcomes.

(ii) State the client fee strategy for the next given year to which will result
from the use of maximax decision rule.
Candidates’ performance in this question was not satisfactory. Out of 1,530
candidates who answered the question only 468 (30.6%) candidates passed while
the remaining 1,062 (69.4%) candidates failed. Out of those who passed 418
(27.3%) and 50 (3.3%) candidates scored pass and credit marks respectively.
Most of the candidates failed the computation of the question, most of the
candidates failed to arrange the variables cost.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Paper
The panel of examiners found the paper to be quite adequate in terms of the questions
examined and time allocated for each question. The panel of markers also found the
paper to be well balanced. The paper had a good mixture of theoretical and
computational questions.
(b) Candidates’ overall performance
Candidates’ performance in this examination paper was satisfactory. Out of 1,662
candidates who answered the examination 711 (42.8%), candidates passed while
the remaining 951 (57.2%) candidates failed. Out of those who passed 668 (40.2%)
and 43 (2.6%) candidates scored pass and credit marks respectively. No candidate
scored distinction marks in this question.
Candidates’ over-all performance in the subject is as shown on table 8.1.9.

75
 TABLE 8.1.9
B5 CANDIDATES’ PERFORMANCE ANALYSIS

CLASSIFICATION OF 00-39 40-59 60-79 80-100 TOTAL

MARKS
NO. OF CANDIDATES
951 668 43 00 1,662
(FREQUENCY)
PERCENTAGE 57.2 40.2 2.6 00 100

TABLE 8.1.10
B5 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS

November 2022 November 2023

No. of candidates passed % No. of candidates passed %

630 out of 1,595 39.5 711 out of 1,662 42.8

76
B6 MANAGEMENT, GOVERNANCE AND ETHICS
I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this examination paper is to test candidates’ ability to

apply principles of strategic management, good governance and business ethics
management and administrative functions of an organization.
II: STRUCTURE OF THE PAPER

The paper had two sections A and B, with six questions carrying 20 marks each.
Candidates were required to answer question one in section A and any other four out of
five questions in Section B
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

The following topics were tested in this paper: -

QUESTION 1: GOVERNANCE, RISK MANAGEMENT AND ETHICS
Candidates were required to:
(a) Discuss any four (4) key principles that are essential to a good legal
environment for business.
(b) Explain what the given name should do if the law dictates that he should act
in a way that is contrary to common sense or his professional judgement.
(c) Analyze nine (9) types of stakeholders in a business industry including their
interests in business activities.

Candidates’ performance in this question was satisfactory. Out of 1,119

candidates who answered the question, 1,017 (90.8%), candidates passed while
the remaining 102 (9.2%) candidates failed. Out of those who passed 245
(21.9%), 560 (50.0%) and 212 (18.9%) candidates scored pass, credit and
distinction marks respectively
Most candidates who failed this question were not prepared themselves well for
examination.
QUESTION 2: GOVERNANCE, RISK MANAGEMENT AND ETHICS
Candidates where required to use the given information to: -

(a) Elaborate five (5) challenges associated with whistle blowing as a tool of
revealing unethical behaviors in business organizations.

(b) State five (5) measures that the risks committee of the given company should
take to overcome this situation in scenario above.

(c) Explain five (5) reasons which might cause risk management plan to prove
failure.

77
 (d) Describe five (5) responsibilities of Board of Directors to the company as a
body responsible for formulating policies.

Candidates’ performance in this question was satisfactory. Out of 934 candidates

who answered the question, 843 (90.3%), candidates passed while the remaining
91 (9.7%) candidates failed. Out of those who passed 186 (19.9%), 330 (35.3%),
and 327 (35.0%) candidates scored pass, credit and distinction marks
respectively.
Some candidates who failed were not able to give clear explanations as per the
requirements of the question.
QUESTION 3: GOVERNANCE
Candidates were required to use the given information to: -
(a) (i) Explain five (5) corporate governance weaknesses in the given case.
(ii) Provide recommendations to address each weakness

(b) Determine the issues of integrity, ethics and law posed in the given case
study. What options does the country have and what should it do and why?

(c) What are the issues of integrity, ethics and law posed in that case study?
What options does the woman have and what should she do and why?
Candidates’ performance in this question was satisfactory. Out of 895 candidates
who answered the question, 619 (69.2%) candidates passed while the remaining
276 (30.8%) candidates failed. Out of those who passed 294 (32.8%), 271
(30.3%) and 54 (6.0%) candidates scored pass, credit and distinction marks
respectively.
No major weakness was noted in this question.
QUESTION 4: STRATEGIC MANAGEMENT

Candidates were required to use the given information to: -

(a) Discuss the eight (8) limitations of competitive advantage

(b) Discuss six (6) factors to be considered when creating a mission statement of
a business company

(c) Discuss four (4) types of organizational structure that a business company can
decide to choose from.

Candidates’ performance in this question was not satisfactory. Out of 837

candidates who answered the question, 387 (46.2%) candidates passed while the
remaining 450 (53.8%) candidates failed. Out of those who passed 354 (42.3%)
and 33 (3.9%) candidates scored pass and credit marks respectively.

No major weakness was noted.

78
QUESTION 5: STRATEGIC EVALUATION AND RISK
MANAGEMENT
From the given instance candidates were required to; -

(a) Discuss five (5) steps of strategic evaluation.

(b) Analyze five (5) ICT risks facing business companies.

(c) Elaborate five (5) types of risk management skills you would like the new
staff to be oriented and trained into.

(d) Discuss five (5) reasons which cause the strategic evaluation task to be
difficult to conduct with the passage of time.

Candidates’ performance in this question was satisfactory. Out of 897

candidates who answered the question, 682 (76.0%) candidates passed while the
remaining 215 (24.0%) candidates failed. Out of those who passed 142 (15.8%),
253 (28.3%) and 287 (32.0%) candidates scored pass, credit and distinction
marks respectively

No major weakness was noted.

QUESTION 6: STRATEGIC MANAGEMENT ESSENTIAL, GOVERNANCE RISK

MANAGEMENT AND ETHICS

Candidates were required to use the given instances to: -

(a) Analyze five (5) factors which influence the intensity of rivalry among
business companies.

(b) (i) Identify and explain the quality management task that the given name
has introduced in the working of the production department as a
corrective measure to control the output of the workers.

(ii) Explain briefly any two points highlighting the importance of quality
management task identified in part b (i).

(c) Discuss the ethical issues in the given story.

Candidates’ performance in this question was not satisfactory. Out of 1,008
candidates who answered the question, 413 (41.0%), candidates passed while the
remaining 595 (59.0%) candidates failed. Out of those who passed 334
(33.1%), 78 (7.7%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.
Some candidates could not provide a clear explanation on how to answer the
cases.

79
IV: GENERAL OBSERVATIONS
(a) Assessment of the Paper
The panel of examiners found the paper to be quite adequate in terms of the
questions examined and time allocated for each question, with a wider spread of
topics within the syllabus.

(b) Candidates’ overall performance

Candidates’ performance in this examination paper was satisfactory. Out of
1,119 candidates who answered the examination, 1,028 (91.7%) candidates passed
while the remaining 91 (8.1%) candidates failed. Out of those who passed 723
(64.6%), 303 (27.1%) and 02 (0.2%) candidates scored pass, credit and distinction
marks respectively.
Candidates’ over-all performance in the subject is as shown on table 8.1.11

TABLE 8.1.11
B6 CANDIDATES’ PERFORMANCE ANALYSIS
CLASSIFICATION OF MARKS 00-39 40-59 60-79 80-100 TOTAL
NO. OF CANDIDATES 91 723 303 02 1,119
(FREQUENCY)
PERCENTAGE 8.1% 64.6 27.1% 0.2% 100%
%

TABLE 8.1.12
B6 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS
November 2022 November 2023
No. of candidates passed % No. of candidates passed %
861 out of 946 91.0 1,028 out of 1,119 91.7

80
FINAL LEVEL EXAMINATIONS
The Final Level examinations are the last level of the three-tier professional examination
system of the Board.
The final level examinations consist of four subjects as mentioned hereunder: -
C1 Corporate Reporting
C2 Auditing and Assurance
C3 Business and Corporate Finance
C4 Public Finance and Taxation II
These examination papers have been tested in this examination session.
The examination draws candidates from: -
(a) Candidates who were referring P15 Financial Reporting II and P20 Contemporary
Issues in Accounting in the phased-out syllabus where these candidates sat for C1
Corporate Reporting in the current syllabus
(b) Candidates who were referring P18 Auditing and Assurance Services in the phased-out
syllabus where these candidates sat for C2 Auditing and Assurance Services
(c) Candidates who were referring P16 International Finance in the phased-out syllabus where
these candidates sat for C3 Business and Corporate Finance in the current syllabus and
(d) Candidates who were referring P17 Public Finance and Taxation in the phased-out
syllabus where these candidates sat for C4 Advanced Taxation in the current syllabus
The performance of the candidates who attempted both modules is shown at the end of the
level’s report.

GENERAL OBSERVATIONS
2,039 candidates applied for the Final Level examinations. 117 (5.7%) candidates were absent.
Therefore 1,922 (94.3%) candidates sat for the examinations. 853 (44.4%) candidates failed, 829
(43.1%) passed some of the subjects and 240 (12.5%) passed all the papers and therefore eligible
for the STATEMENT OF SUCCESS for Final Level.
The general performance subject-wise for the final level examination in this session
is as shown on Table 9.1

TABLE 9.1
FINAL LEVEL SUBJECT -WISE PERFORMANCE ANALYSIS: NOVEMBER 2022
AND NOVEMBER 2023
Code Subject Performance
November 2022 November 2023
Entries Pass % Entries Pass %
C1 Corporate Reporting 1,004 308 30.7 1,133 313 27.6
C2 Auditing and Assurance 1,015 588 57.9 1,118 432 38.6
C3 Business and Corporate Finance 907 396 43.7 835 213 25.5
C4 Advanced Taxation 621 447 71.9 674 537 79.7

81
 C1 CORPORATE REPORTING
I: PRINCIPAL LEARNING OUTCOME
Principal learning outcome of this paper is to test candidates’ ability to financial
reporting standards and corporate law in preparing, analyzing and evaluating
corporate reports by entities, both in the private and public sectors.
II: STRUCTURE OF THE QUESTION PAPER
This examination paper comprised two sections with six questions. Candidates were
required to answer five questions. Question one was compulsory.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
In this paper, topics examined and candidates’ performances were as follows:
QUESTION 1: FINANCIAL STATEMENTS OF GROUP ENTITIES
Candidates were required to use the given information to prepare a Consolidated Income
Statement for the given company for the given year end in accordance with International
Accounting Standards/International Financial Reporting Standards.

Candidates were also required to show how separately any required adjustments to the parent’s
equity in the group statement of financial position on the disposal of shares in subsidiaries.

Candidates’ performance in this question was not satisfactory. Out of 1,133 candidates who
answered the question only 18 (1.6%) candidates passed while the remaining 1,115 (98.4%)
candidates failed. Out of those who passed 17 (1.5%) and 01 (0.1%) candidates scored pass
and credit marks respectively. No candidate scored distinction marks in this question.

Majority candidates expressed weaknesses in preparing consolidated statement of

comprehensive income. Weakness was also found in determining the change in controls (share
disposal). The general overview is that candidates are now ignoring the topic on consolidation.

QUESTION 2: PROFESSIONAL ETHICS AND DUTIES OF AN ACCOUNTANT;

NON-CURRENT ASSETS

(a) Candidates were required to use given information to: -

(i) Explain the ethical issues for the given finance director, setting out
how the issues may be resolved in the given issue.
(ii) Discuss the ethical and professional dilemmas for the given
Finance Director in overseeing the loan made to customers and the
appropriate actions to be taken in the given issue.
(iii) Discuss any ethical issue raised by the given finance director’s
actions regarding his management of in the given scenario.

82
 (b) Candidates were also required to use the given information to:

(i) Using examples, explain a qualifying asset.

(ii) Explain the circumstances when borrowing costs and the amount
at which borrowing costs should be capitalized in accordance
with IAS 23: Borrowing Costs.
(iii) Calculate the cost of the plant as at the given period.

Candidates’ performance in this question was satisfactory. Out of 1,118

candidates who answered the question, 483 (43.3%) candidates passed while
the remaining 635 (56.7%) candidates failed. Out of those who passed 441
(39.4%), 41 (3.7%) and 01 (0.1%) candidates scored pass, credit and
distinction marks respectively.

Those who failed were unable to analyze cases and raise issues relating to
professional ethics. Those they were not able to compute borrowing costs from
the data provided.

QUESTION 3: IFRS 15 REVENUE FROM CONTRACTS WITH CUSTOMERS AND

IFRS 11 (JOINT ARRANGEMENTS)
Candidates were required to use the two given scenarios to explain and show
how the transactions described in the case should be accounted for and
reported in the financial statements of given company for the given year end.

Candidates’ performance in this question was not satisfactory. Out of 687

candidates who answered the question only01 (0.1%) candidate scored pass
marks while the remaining 686 (99.9%) candidates failed. There were neither
credit nor distinction marks in this question.

Most candidates demonstrated poorly understanding on international

standards.

QUESTION 4: IFRS 2 SHARE BASED PAYMENTS; IFRS 13 FAIR VALUE

MEASUREMENTS AND IFRS 9 FINANCIAL INSTRUMENTS,
RE-ORGANIZATION AND RECONSTRUCTION
(a) Candidates were required to use the given information to advise the given
director on their given requests.

(b) Candidates were also required to use the given information to suggest a
scheme of capital reorganization that would be acceptable to all
stakeholders, including a revised statement of financial position.

Candidates’ performance in this question was not satisfactory. Out of 825

candidates who answered the question only 06 (0.7%) candidates scored pass
marks while the remaining 819 (99.3%) candidates failed. There were neither
credit nor distinction marks in this question.

Majority of candidates were able to do well in this question as they were poorly
prepared on the re-organization and re-construction.
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QUESTION 5: PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT
ASSETS; RELATED PARTY DISCLOSURES AND GROUP
FINANCIAL STATEMENTS
(a) Candidates were required to use the give information to: -

(i) Discuss the appropriate accounting treatment of the restructuring

costs in the financial statements of the given company limited for the
given year end.

(ii) Discuss what is meant by good stewardship of a company and

whether the restructuring and the recognition of a restructuring
provision in the financial statements are examples of good
stewardship.

(iii) Discuss briefly whether the given person acquisition of the equity
shares in the given company limited should be disclosed as a related
party transaction.

(b) (i) Explain what are the different arrangements a company can enter
into in order to dispose of its investment without actually selling its
shares.

(ii) Use the given information to calculate the difference arising that will
be taken to equity for each situation after changes of group structure.

Candidates’ performance in this question was not satisfactory. Out of 833

candidates who answered the question only 153 (18.4%) candidates passed
while the remaining 680 (81.6%) candidates failed. Out of those who passed
121 (14.5%), 30 (3.6%) and 02 (0.2%) candidates scored pass, credit and
distinction marks respectively.

Candidates who failed were not able to identify factors to be considered on

providing reconstruction and related party transactions. They also failed to state
different arrangement to disposal investment without actually selling the shares.
They further failed to calculate value of equity after changes of group structure.

QUESTION 6: FINANCIAL AND BUSINESS ANALYSIS

(a) Candidates were required to use the given information to:

(i) Comment on the relative financial performance and position of

given two companies.

(ii) With reasons, identify what further information you would find
useful to help you with your commentary provided in (i) above.

84
 (iii) Comment on the given information in the light of this and set out
any additional information which would help you to form a view
on the situation.

(b) Candidates were also required to use the given information to compare
and analyze the ratios of the two companies. Does it make a difference
whether the company is a manufacturing company or a service
company. Explain.

Candidates’ performance in this question was not satisfactory. Out of 1,089

candidates who answered the question only 364 (33.4%) candidates passed
while the remaining 725 (66.6%) candidates failed. Out of those who passed
341 (31.3%) and 23 (2.1%) candidates scored pass and credit marks
respectively. No candidate scored distinction marks in this question.

Most candidates failed to analyze and explain the underlying reasons for
differences in rations between the two given companies based on the given
scenarios. They also failed to identify relevant information for commentary
review.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Examination

The panel of examiners found that the question had an appropriate mixture
of questions, the distribution of marks and the time allocated was adequate.
The paper had easy and difficult questions which were all within the
prescribed syllabus.

(b) Candidates’ overall performance of the paper

Candidates’ performance in this examination paper was not satisfactory. Out
of 1,133 candidates who answered the examination only, 313 (27.6%)
candidates passed scored pass marks while the remaining 820 (72.4%)
candidates failed. Out of those who passed 312 (27.5%) and 01 (0.1%)
candidates scored pass and credit marks respectively. No candidate scored
distinction marks in this examination paper.

Candidates’ over-all performance in the subject is as shown on table 9.1.1

85
 TABLE 9.1.1

C1 CANDIDATES’ PERFORMANCE ANALYSIS

Classification of Marks 0-39 40-59 60-79 80-100 Total

No. of Candidates 820 312 01 00 1,133

(Frequency)
Percentage 72.4 27.5 0.1 0.0 100

TABLE 9.1.2
C1 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS
November 2022 November 2023
No. of candidates passed % No. of candidates passed %
308 out of 1,004 30.7 313 out of 1,133 27.6

86
 C2 AUDITING AND ASSURANCE SERVICES
I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to test candidates’ ability to apply

auditing and assurance standards and relevant laws in undertaking and managing
auditing and assurance engagements in complex auditing and reporting situations.
II: STRUCTURE OF THE QUESTION PAPER
This examination paper comprised two sections with six questions. Candidates were
required to answer five questions. Question one was compulsory.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE
In this paper, topics examined and candidates’ performances were as follows:

QUESTION 1: LEGAL, REGULATORY AND ETHICAL ISSUES; ACCEPTING

ENGAGEMENTS AND MANAGING ASSIGNMENTS
(a) Candidates were required to use the given information to: -

(i) Using the minutes provided above; describe six (6) audit risks, and explain the
auditor’s response to each risk, in planning the audit of the given company.
(ii) Describe the main areas, other than audit risks, that should be included within
the audit strategy document for the given company and for each area provide an
example relevant to the audit.

(b) Candidates were required to use the given information to: -

(i) Discuss the ethical threats that may affect the independence of the given company
and suggest a suitable safeguard for each identified threat.

(ii) Explain four (4) matters that the audit firm should consider prior to accepting a
new audit engagement.

Candidates’ performance in this question was satisfactory. Out of 1,118

candidates who answered the question, 820 (73.3%) candidates passed while the
remaining 298 (26.7%) candidates failed. Out of those who passed 684 (61.2%),
119 (10.6%) and 17 (1.5%) candidates scored pass, credit and distinction marks
respectively.

Some candidates mentioned a list of risks without their safeguard as per the
requirements. In part 1 (i) most candidates used a lot of time to write various
advices to management instead of pointing out their responses to respective
identified risks.

87
QUESTION 2: PLANNING AND UNDERTAKING AUDIT WORK

(a) Candidates were required to use the given information to:

(i) Distinguish an auditor expert from a management expert.

(ii) Evaluate the need for the services of Mangi Consultants in the audit
of the financial statements of Silas Ltd, stating the impact on the
audit report of the use of the work of Mangi Consultants.

(iii) Suggest four (4) factors that should be considered before deciding
to use the services of Mangi Consultants in the audit of the financial
statements of the given company.

(b) Candidates were also required to use the given information to suggest
three (3) each suitable controls in ZAM Ltd. relating to:
(i) Cash on hand
(ii) Bank balances and
(iii) The purchases and inventory systems

Candidates’ performance in this question was not satisfactory. Out of 972

candidates who answered the question only 148 (15.2%) candidates passed
while the remaining 824 (84.8%) candidates failed. Out of those who passed
126 (12.9%) and 22 (2.3%) candidates scored pass and credit marks
respectively. No candidate scored distinction marks in this question.

Specifically question 2 part (a) most candidates failed to describe the need for
the service of the given consultant as an expert instead they described factors
to be considered on assessing the qualities of expert. Also, candidates were not
able to analyze the impact on the auditor’s report as a result of the work of the
expert.
QUESTION 3: LEGAL REGULATORY AND ETHICAL ISSUES; PLANNING AND
UNDERTAKING AUDIT WORK
(a) Candidates were required to use given information to discuss the ethical
and professional issues raised by the above situation and provide the
measures to mitigate those issues

(b) Candidates were also required to use given information assume that they
have been appointed to audit the given company for the given year end.
As audit expert draft the procedures for audit on the following items
under non-current assets:
(i) Non-current assets additions during the year.
(ii) Non-current assets disposals during the year.
(iii) Non-current assets held at December 2021.

88
 Candidates’ performance in this question was satisfactory. Out of 875
candidates who answered the question, 587 (67.1%) candidates passed while
the remaining 288 (32.9%) candidates failed. Out of those who passed 237
(27.1%), 304 (34.7%) and 46 (5.3%) candidates scored pass, credit and
distinction marks respectively.

Candidates who failed were not able to answer the question related to the
understanding of audit work.

QUESTION 4: DRAWING CONCLUSIONS AND REPORTING; ASSESSMENT OF

RISKS, INTERNAL CONTROLS AND INTERNAL FINANCIAL
CONTROLS
(a) Candidates were required to use the given information to: -

(i) With reference to the aforementioned scenario, briefly describe your

duties as an auditor with regard to matters that arise prior to the date of
the auditor’s report, matters that arise following the date of the auditor’s
report but prior to the release of audited financial statements, and matters
that arise following the release of the financial statements.

(ii) For each of the three subsequent events identified at the given company:
• Describe at least two audit procedures you will carry out on them.
• Explain whether the financial statements will need to be adjusted
by the given company and give reasons.

(b) Candidates were required to use the given information to: -

(i) Explain the difference between general and application controls,
giving two (2) examples of each.
(ii) Explain three (3) key risk factors under inherent, control, and
control environment to consider during the audit of the given
company.
(iii) Explain three (3) financial statement assertions relating to cash
balances held at the bank for the given company and for each
assertion state the audit objective

Candidates’ performance in this question was not satisfactory. Out of 933

candidates who answered the question only 300 (32.2%) candidates passed
while the remaining 633 (67.8%) candidates failed. Out of those who passed
241 (25.8%), 57 (6.1%) and 02 (0.2%) candidates scored pass, credit and
distinction marks respectively.

Most candidates did not specify audit procedures to be undertaken. They ended
up putting general statements not stating exactly what they would do. For
controls section candidates departed from the case and gave theoretical
knowledge from books as opposed to the case given.

89
QUESTION 5: DRAWING CONCLUSIONS AND REPORTING; ACCEPTING
ENGAGEMENTS; ASSESSMENT OF RISKS; INTERNAL
CONTOLS
(a) Candidates were required to use the given information to comment on
the recommendations of the audit manager on the above clients and
where appropriate, suggest how the findings could be reported.

(b) Candidates were also required to use the given information to:-
(i) Analyze the matters to be taken into consideration before deciding
whether or not to accept this appointment in addition to continuing
as auditor of the given company.

(ii) Evaluate the argument that it is impossible in this case to determine

whether or not the given mechanic has been dishonest in the past
year to given company.

Candidates’ performance in this question was not satisfactory. Out of

901 candidates who answered the question only 31 (3.4%) candidates
scored pass marks while the remaining 870 (96.6%) candidates failed.
There were neither credit nor distinction marks in this question.

Most candidates failed in part (iii) of this question. Candidates failed to

distinguish circumstances which give rise to unmodified with other
matter and other matter paragraph. Candidates failed to identify matters
from the given scenario to be considered before accepting engagement,
most candidates provided general considerations.

QUESTION 6: PLANNING AND UNDERTAKING AUDIT WORK

(a) Candidates were required use the information to comment on the quality
of the audit of the given company and describe the recommendations
which you would make to improve the quality.

(b) Candidates were also required use the information to: -

(i) Describe any five (5) procedures the auditor of the given company
should undertake in relation to uncorrected inventory misstatement
identified above.

(ii) Identify any five (5) going concern audit procedures which should be
performed for the given company.

(c) Candidates were further required to use the given information to describe
the given items to described audit procedures, if any that would have
brought the item to your attention and indicate other sources of information
that may have revealed the item.

90
 Candidates’ performance in this question was not satisfactory. Out of 791
candidates who answered the question only 86 (10.9%) candidates passed while
the remaining 705 (89.1%) candidates failed. Out of those who passed 67
(8.5%), 18 (2.3%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.

Majority candidates replied the question with general answers which do not
reflect the reality of the cases given.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Examination
The panel of examiners found that the question had an appropriate mixture
of questions, the distribution of marks and the time allocated was
adequate. The paper had easy and difficult questions which were all
within the prescribed syllabus.

(b) Candidates’ overall performance of the paper

Candidates’ performance in this examination paper was not satisfactory.
Out of 1,118 candidates who answered the examination, 432 (38.6%),
candidates passed while the remaining 686 (61.4%) candidates failed.
Out of those who passed 428 (38.3%) and 04 (0.4%) candidates scored
pass and credit marks respectively. No candidate scored distinction marks
in this examination paper.
The candidates’ over-all performance in the subject is as shown on
table 9.1.3

TABLE 9.1.3

C2 CANDIDATES’ PERFORMANCE ANALYSIS

Classification of 0 - 39 40-59 60-79 80-100 Total
Marks
No. of Candidates 686 428 04 00 1,118
(Frequency)
Percentage 61.4 38.3 0.4 0.0 100

TABLE 9.1.4
C2 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS
November 2022 November 2023

No. of candidates passed % No. of candidates passed %

588 out of 1,015 57.9 432 out of 1,118 38.6

91
 C3 BUSINESS AND CORPORATE FINANCE

I: PRINCIPAL LEARNING OUTCOME

Principal learning outcome of this paper is to test candidates’ ability to apply

business and financial theories, concepts and analytical frameworks in evaluating and
assessing business strategy, business and financing options as well as financial
engineering products and provide advice based on such assessments.
II: STRUCTURE OF THE QUESTION PAPER

This examination paper comprised two sections with six questions. Candidates were
required to answer five questions. Question one was compulsory.
III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

In this paper, topics examined and candidates’ performances were as follows:

QUESTION 1: FUTURES, OPTIONS, SWAPS AND FORWARD RATE AGREEMENT;

INTERNATIONAL BUSINESS ENVIRNEMNT AND FDI
(a) Candidates were required to use given information to discuss any three (3)
reasons as to why agency costs for multinational corporations are likely to
be larger than agency costs for a purely domestic corporation.

(b) Candidates were also required use the given information to: -
(i) Briefly explain the basis of LIBOR and SOFR and how each is arrived
at.
(ii) Explain the strong points and weak points of each.

(c) Candidates were further required to use the given information to show the
transactions involved, the bank charges and the interest terms payable if
given two companies agree to the swap.

Candidates’ performance in this question was not satisfactory. Out of 835

candidates who answered the question only 126 (15.1%) candidates passed while
the remaining 709 (84.9%) candidates failed. Out of those who passed 121
(14.5%) and 05 (0.6%) candidates scored pass and credit marks respectively. No
candidate scored distinction marks in this question.

Most candidates failed to distinguish aging problem/cost from social political

problems in international business. They failed to identify absolute and
comparative advantages and how to apply that in calculation of swaps.

QUESTION 2: MERGERS AND ACQUISITION; FOREIGN EXCHANGE AND BUSINESS

VALUATION

(a) Candidates were required to use the given information to discuss the pros and
cons of such a move considering that the given company is a small economy
whose foreign currency in-flows mainly come from the tourism sector.
92
 (b) Candidates were also required to use the given information to:-
(i) Decompose the share price of both companies into Earning Per Share
(EPS) and Price/Earning Ratio (P/E) components, as well as the EPS
figures into Return on Equity (ROE) and Book Value/intrinsic Value Per
Share (BVPS) components.

(ii) Estimate future EPS growth rates for each firm.

(iii) Based on expected operating synergies, ABC Ltd estimates that the
intrinsic value of XYZ’s equity share would be TZS.200 per share on its
acquisition. Develop a range of justifiable equity share exchange ratios
that can be offered by ABC Ltd to XYZ Ltd shareholders.

(iv) Based on your analysis in parts (i) and (ii), would you expect the
negotiated terms to be closer to the upper or to the lower share exchange
ratio limits computed in part (iii) above? Why?

(v) Calculate the post-merged EPS based on share exchange ratio of 0.4:1
being offered by ABC Ltd. Indicate the immediate EPS accretion or
dilution, if any, that will occur for each group of shareholders.

Candidates’ performance in this question was not satisfactory. Out of 430

candidates who answered the question only 77 (17.9%) candidates passed
while the remaining 353 (82.1%) candidates failed. Out of those who passed
71 (16.5%) and 06 (1.4%) candidates scored pass and credit marks
respectively. No candidate scored distinction marks in this question.

Most candidates failed to answer part (b). They failed to develop the range
of justifiable equity share exchange ratios and to calculate the post – merger
EPS.

QUESTION 3: GLOBAL BUSINESS ENVIRONEMNT AND INTERNATIONAL

INVESTMENT ANALYSIS

(a) Candidates were required to use the given information to calculate the £
return on each bond and advise the firm on a better bond investment.

(b) Recent years have witnessed growth in international stock investment

discuss any two (2) advantages and any two (2) risks of international stock
investments.

(c) One challenge in mergers and acquisition is the valuation of the target firm
by the acquirer discuss the challenge of over valuation of a target firm in
the context of the reasons and possible consequences during and after an
acquisition.

93
 Candidates’ performance in this question was not satisfactory. Out of 764
candidates who answered the question only 263 (34.4%) candidates passed while
the remaining 501 (65.6%) candidates failed. Out of those who passed 241
(31.5%), 21 (2.4%) and 01 (0.1%) candidates scored pass, credit and distinction
marks respectively.

The major weakness was in the analysis international bond investment and
discussion of overvaluation of the mergers and acquisition.

QUESTION 4: INTERNATIONAL BUSINESS ENVIRONEMNT & FDI;

INTERNATIONAL INVESTMENT APPROACH ANALYSIS
(a) Candidates were required to use the given information to compare and
contrast international capital budgeting with domestic capital budgeting.

(b) Candidates were also required to use the given information to: -
(i) Calculate the Net Present Value of the proposed investment and
recommend as to whether the company should proceed with the
investment.
(ii) Identify any two (2) main political risks that might be faced by the
company and their corresponding strategies to counter those risks.

Candidates’ performance in this question was not satisfactory. Out of 788

candidates who answered the question only 254 (32.2%) candidates passed
while the remaining 534 (67.8%) candidates failed. Out of those who passed
239 (30.3%), 14 (1.8%) and 01 (0.1%) candidates scored pass, credit and
distinction marks respectively.

Most candidates confused on the requirements of the question. In part (a)

candidates ended up comparing and contrasting international capital budgeting
with domestic capital budgeting instead of difficulties of international capital
budgeting.

QUESTION 5: BLOCK CHAIN TECHNOLOGY AND FOREIGN EXCHANGE

MARKET
(a) Candidates were required to use the given statement to assess how the
international trade and exchange rates could be affected by the rising
usage of digital currencies.

(b) Candidates were also required to use the given information to:
(i) Show how the given company can hedge against foreign currency
risk using:
(1) Matching receipts and payments
(2) Lagging and leading
(3) Money market hedge
(ii) Advise the given company on the most effective hedge method.
(iii) Calculate the forward rate agreement if the spot rate on the given date
is 12%.

94
 Candidates’ performance in this question was not satisfactory. Out of 646
candidates who answered the question only 32 (5.0%) candidates scored pass
marks while the remaining 614 (95.0%) candidates failed. There were neither
credit nor distinction marks in this question.

Most candidates failed to assess how the international trade and exchange rates
could be affected by the rising usage of digital currencies.

QUESTION 6: FINANCIAL ENGINEERING AND PLANNING

(a) Candidates were required to use the given information to: -

(i) In relation to the given company’s possible investment in a foreign

subsidiary, discuss any two (2) political risks and provide two (2) ways
on how it might be managed.

(ii) Explain clearly the differences and similarities between forward rate
agreement and interest rate swap and how each can be used by Kangaroo
Ltd.

(b) Candidates were also required to use the given information to advise the given
company, the likely interest payable if on 30th April, the market rates for
borrowing and lending are:
(i) 20% higher than the current rates
(ii) 40% lower than the current rates

(c) Candidates were further required to use the given information to:
(i) Compute the one month forward cross rate for buying and selling the
Tanzanian shillings (TZS) against the Qatar Riyal (QAR).
(ii) Determine whether the forward selling of TZS against the QAR is a
premium or discount and by how much.

Candidates’ performance in this question was not satisfactory. Out of 715

candidates who answered the question only 28 (3.9%) candidates scored pass
marks while the remaining 687 (96.1%) candidates failed. There were neither
credit nor distinction marks in this question.

Almost all candidates expressed poor understanding of the question

requirements.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Examination
The panel of examiners found that the question had an appropriate mixture of
questions, the distribution of marks and the time allocated was adequate. The
paper had easy and difficult questions which were all within the prescribed
syllabus.

95
(b) Candidates’ overall performance of the paper
Candidates’ performance in this examination paper was not satisfactory. Out of
835 candidates who answered the examination only 213 (25.5%) candidates passed
while the remaining 622 (74.5%) candidates failed. Out o f those who passed 211
(25.3%) and 02 (0.2%) candidates scored pass and credit marks respectively. No
candidate scored distinction marks in this examination paper.

The candidates’ over-all performance in the subject is as shown on table 9.1.5.

TABLE 9.1.5
C3 CANDIDATES’ PERFORMANCE ANALYSIS

Classification of Marks 0-39 40-59 60-79 80-100 Total

No. of Candidates 622 211 02 00 835
(Frequency)
Percentage 74.5 25.3 0.2 0.0 100

TABLE 9.1.6
C3 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS
November 2022 November 2023

No. of candidates passed % No. of candidates passed %

396 out of 907 43.7 213 out of 835 25.5

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C4 ADVANCED TAXATION
I: PRINCIPAL LEARNING OUTCOME
Principal learning outcome of this paper is to test candidates’ ability to apply
knowledge of public finance, tax laws and Financial Reporting Standards and Corporate
Law in preparing, analyzing and evaluating corporate reports by entities, both in the
private and public sectors.
II: STRUCTURE OF THE QUESTION PAPER
This examination paper comprised two sections with six questions. Candidates were
required to answer five questions. Question one was compulsory.

III: TOPICS EXAMINED AND CANDIDATES’ PERFORMANCE

In this paper, topics examined and candidates’ performances were as follows: -

QUESTION 1: CORPORATE BUSINESS INCOME

Candidates were required to use the given information calculate taxable income
as well as the tax liabilities of the company for the year.

Candidates’ performance in this question was satisfactory. Out of 674

candidates who answered the question, 455 (67.5%) candidates passed while the
remaining 219 (32.5%) candidates failed. Out of those who passed 364 (54.0%),
89 (13.2%) and 02 (0.3%) candidates scored pass, credit and distinction marks
respectively.

There were no specific weakness noted. However, few candidates who failed
were not able to identify the appropriate class of depreciable assets. Others failed
to properly treat the allowable deductions as provided in the question.

QUESTION 2: INTERNATIONAL TAXATION; TRANSFER PRICING

Candidates were required to use the given information to: -
(a) Briefly explain any seven (7) details that should be included in transfer
pricing documentation.

(b) Briefly explain any four (4) importance of transfer pricing

documentation.

Candidates’ performance in this question was satisfactory. Out of 428

candidates who answered the question, 343 (80.1%) candidates passed
while the remaining 85 (19.9%) candidates failed. Out of those who
passed 109 (25.5%), 128 (29.9%) and 106 (24.8%) candidates scored
pass, credit and distinction marks respectively.

Candidates who failed were not able to explain details that should be
included in transfer pricing documentation.

97
QUESTION 3: TAXATION OF PERMANENT ESTABLISHMENTS; INTERNATIONAL
DOUBLE TAXATION OF INCOME AND ADMINISTRATIVE
PROVISIONS FOR VAT

(a) Candidates were required to use the given information to briefly discuss the
implication of such amendment to all registered traders.

(b) Candidates were also required to use the given statement to:

(i) Explain the term “permanent establishment” as contained in the

double taxation agreement between Tanzania and any country of your
choice.

(ii) Evaluate the current Tanzania’s double taxation treaties.

(iii) Provide any four (4) appropriate recommendations to Tanzanian

policy makers in respect to double taxation agreements.

Candidates’ performance in this question was not satisfactory. Out of 494

candidates who answered the question only 128 (25.9%) candidates passed while
the remaining 366 (74.1%) candidates failed. Out of those who passed 112
(22.7%) and 16 (3.2%) candidates scored pass and credit marks respectively. No
candidate scored distinction marks in this question.

Most candidates expressed poor understanding of the international double

taxation. There are not also aware of the current agreements that Tanzania has
made with other countries.

QUESTION 4: CORPORATE BUSINESS INCOME

(a) Candidates were required to use the given information to: -

(i) Explain the term “trade association” as per Income Tax Act, Cap.332.

(ii) Advise the association’s president on the circumstance under which

trade associations are taxed in Tanzania.
(iii) Assess whether Tanzania Horticultural Association is subject to
taxation for the year the given year end and the applicable tax liability
(if any).

(b) Candidates were also required to use the given information to calculate the
amount of double taxation relief due to and tax burden to the given
company for the given year.

Candidates’ performance in this question was not satisfactory. Out of 517

candidates who answered the question only 151 (29.2%) candidates passed while
the remaining 366 (70.8%) candidates failed. Out of those who passed 133
(25.7%) and 18 (3.5%) candidates scored pass and credit marks respectively. No
candidate scored distinction marks in this question.
98
 The main weakness in this question was that most candidates failed to explain
trade association. Also, the candidates could not describe all the circumstances
under which trade association is taxed. Moreover, the candidates failed to
distinguish between business and investment chargeable income and which of
the two is used to assess taxability of trade association.

QUESTION 5: DISPUTE RESOLUTION; INTERNATIONAL TAXATION

(a) Candidates were required to use the given information to:

(i) Advise the Managing Director on the action to be taken to resolve the
disputed assessment.

(ii) Explain six (6) potential challenges that the Managing Director may
face on the dispute issue.

(b) Candidates were also required to use the given statement, explain the
meaning of the following as used in tax treaties:
(i) Double taxation treaties
(ii) Fiscal evasion
(iii) Treaty shopping

Candidates’ performance in this question was satisfactory. Out of 627 candidates

who answered the question, 520 (82.9%) candidates passed while the remaining
107 (17.1%) candidates failed. Out of those who passed 152 (24.2%), 253 (40.4%)
and 115 (18.3%) candidates scored pass, credit and distinction marks respectively.

Candidates who failed were not able to explain the concepts of fiscal evasion and
treaty shopping. While part (a) focused on internal dispute mechanism, majority of
candidates explained the whole process of resolving disputes.

QUESTION 6: VAT REFUNDS; TAXATION OF INSURANCE BUSINESS AND

TAXATION OF CHARITABLE BUSINESS
(a) Candidates were required to use the given information to calculate the
amount of input tax refunded in the filing of the VAT return.

(b) Candidates were also required to use the given information to explain the
meaning of life insurance as per Income Tax Act, Cap.332.
(c) Candidates were further required to use the given information to:
(i) Compute the taxable income of the charity.
(ii) Compute tax payable by the charity

Candidates’ performance in this question was satisfactory. Out of 631 candidates

who answered the question, 503 (79.7%) candidates passed while the remaining
128 (20.3%) candidates failed. Out of those who passed 281 (44.3%), 192 (30.4%)
and 30 (4.8%) candidates scored pass, credit and distinction marks respectively.

99
 Candidates who failed lacked adequate knowledge of life insurance as explained
by the Act. Many confused life insurance with health insurance. Other failed to
incorporate adjustments in computing output tax.

IV: GENERAL OBSERVATIONS

(a) Assessment of the Examination

The panel of examiners found that the question had an appropriate mixture of
questions, the distribution of marks and the time allocated was adequate. The
paper had easy and difficult questions which were all within the prescribed
syllabus.

(b) Candidates’ overall performance of the paper

Candidates’ performance in this examination paper was satisfactory. Out
of 674 candidates who answered the examination, 537 (79.7%) candidates passed
while the remaining 137 (20.3%) candidates failed. Out of those who passed 469
(69.6%) and 60 (10.1%) candidates scored pass and credit marks respectively. No
candidates scored distinction marks in this examination paper.
The candidates’ over-all performance in the subject is as shown on table 9.1.7

TABLE 9.1.7
C4 CANDIDATES’ PERFORMANCE ANALYSIS
Classification of Marks 0-39 40-59 60-79 80-100 Total
No. of Candidates 137 469 68 00 835
(Frequency)
Percentage 20.3 69.6 10.1 0.0 100

TABLE 9.1.8
C4 COMPARISON OF PASS RATE WITH NOVEMBER 2022
EXAMINATIONS
November 2022 November 2023
No. of candidates passed % No. of candidates passed %
447 out of 621 71.9 537 out of 835 79.7

100
 CHAPTER III

EXAMINERS’ RECOMMENDATIONS TO THE TUTORS AND STUDENTS

In each examination session, the panel of examiners come up with suggestions to both Tutors
and Students which are aimed at improving future candidates’ performance.

These recommendations arise from shortcomings observed in the course of marking the
candidates’ scripts.

RECOMMENDATIONS TO TUTORS

Guidance to the candidates

1. Tutors should encourage students to devote more time in their studies and help them to
obtain relevant materials and reference books for the particular subjects.

2. Tutors should encourage their students to put more efforts in their studies while
preparing for the examinations. They should ensure that only those students who have
performed well in the class tests and mock examinations are allowed to sit for the Board’s
examinations.
3. Tutors should expose their students to examination techniques including how to tackle
a question in on examination room.
4. Tutors should encourage their students to read extensively and do a lot of exercises. They
should discourage students from cramming the questions and their solutions as this will
not assist them during the examinations.
5. Tutors should encourage their students to create a habit of reading current issues and
keeping themselves abreast with the issues taking place within and globally. This will
assist them in answering the questions that are of general nature and at the same time
improve their vocabulary.

Teaching and learning materials

6. Tutors should prepare and update their teaching notes (competence based) that can be made
available to their students.
7. Tutors should devote their time to prepare appropriate case study questions and orient
students especially those at higher levels on how to tackle case study questions.
8. Tutors should introduce an ‘examination technique’ topic during the course of training.
The examination techniques in one of the crucial areas that play a vital role to students
when it comes to answering examination questions.
9. Tutors should make sure that they concentrate on teaching using NBAA Learning
Materials and other supplementary relevant learning materials to cover the syllabus
adequately. It is important that the tutors should prepare work-plans that guide them in
covering the entire syllabus of the subjects they teach.

101
10. Tutors should devote their time to attend NBAA seminars, workshops and Training of
Trainers workshops in order to be aware of current emerging professional issues.

Evaluating the candidates

11. Tutors should at a certain point of time, prepare mock examinations that would test the
students understanding and segregate weak from strong students whom should be given
more exercises and attention before they can be allowed to register for the examinations.
The mock examinations should cover typical examination questions in an examination
atmosphere thereby familiarizing the students to similar conditions that they would
encounter when taking their examinations.

Effective teaching
12. Tutors should prepare scheme of works/lesson plans that will guide them during the
teaching process. Teaching plans have to be provided to enable the students be aware of
what has to be covered and at what time.
13. Tutors should ensure that they are using relevant and up-to-date teaching materials in
order to avoid misleading the students.
14. Tutors should ensure that they attend short courses regarding teaching
methodologies in order to improve their teaching styles and acquire modern teaching
methodologies.
15. Tutors should take time to read comments prepared by markers which have been
summarized in the Examiners’ and Performance Report. By so doing they will
understand their shortfalls and improve in the respective areas mentioned by the markers.
16. For the subjects which need practical orientation like auditing, it would be much better
for the trainers to invite practicing auditors to teach some of the topics.
17. Tutors should avoid spoon feeding the students, instead they have to apply various
participatory teaching methods in order to bring about effective learning among the
students.
18. Tutors should in as much as possible try to observe the weaknesses of their students and
address them by equipping them with different skills on the subject matter especially on
new statutes.
19. Tutors should at all times be up-to-date with emerging teaching techniques and should
apply them. Tutors should also apply the techniques that make the learner think more
rather than cramming.
20. Tutors should ensure that they equip themselves with knowledge and skills that are
required to teach effectively the students under competence based syllabi
21. Tutors should assist students on how to use the learning materials for effectively
learning

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 RECOMMENDATIONS TO STUDENTS

Applying appropriate learning styles

22. Students should develop study schedules that will guide them during the preparations for
the examinations and ensure that they have covered each and every topic in the syllabus.
23. Changes taking place in the accounting, auditing, tax, law regimes are vast and hence
students should keep up-to-date with those changes. For example, definitions and
terminologies in accounting and auditing have been modified since the adoption of the
International Accounting/Auditing Standards. Students need to know these changes in
order to be able to apply them in their course of study and in their work places.
24. Students should develop a culture of reading NBAA Learning materials, various
textbooks and journals in order to get an in depth knowledge and understanding of the
subject matter.
25. Students should put more effort on Public Sector Accounting/Auditing as it seems they
do not give special attention on the area.
26. Students should work hard, think critically and do more practice to enhance their
competence and confidence in attempting examination papers.
27. Students should make sure that they respond to the requirements of the question asked
rather than answering what has not been asked. They should not formulate their own
questions and provide their own answers.
28. Students are required to do comprehensive preparations. They should not base their
preparations on occurrence of topics on past examinations.

Self-motivation towards learning

29. Students need to take personal initiative to improve their mastery of English
Language. This can be achieved in many ways - through reading daily newspapers,
magazines, books and through speaking the language. Language limitations has affected
majority of candidates as they fail to express themselves properly let alone giving them
flexibility in answering the questions.
30. Students should take an initiative of improving their case study analysis. Should seek
assistance from their trainers on how to analyze a case study questions.
31. Students should develop their own learning strategies; they should not depend entirely
on their trainers.

Assurance of knowledge mastery

32. Students should work hard and not rush to sit for the examinations before they have assured
themselves that they are ready for the examinations. They should not take chances and
play a game of chance (doing examination is not gambling), hoping that they will find the
examinations questions they are familiar with. They need to ensure that they get value for
the money they have used as tuition and examination fees.
33. Students to take seriously initiative and effort to cover the whole syllabus
requirement material through reading various books, journals and published articles not to
concentrate mostly in teaching questions and answers of past examinations.

103
34. Students should avoid attempting the examination unless they have covered a major part
of the respective syllabus; also devote more time in private and group discussions study
rather than considering the examination as “going concern”.
35. Students should make a good use of the learning materials in order to improve their
learning
36. Students should ensure that they avoid learning through memorisation, instead they have
to study and understand subject matters in details

Appropriate preparation for examinations and examination techniques

37. When attempting the examinations, students/candidates are urged to first read the
instructions, and then read the questions properly before they start attempting the
question. Make a viable choice in case there are optional questions or even the choice
of questions they should start attempting.
38. Students should learn how to organize their answers during the examination attempts.
This can be achieved through practice.
39. Students should have extensive course contents coverage and attempt many questions
in the preparation of their examination in the form of self-exercise to build their ability to
tackle questions properly and to be able to understand different term used in
examinations.
40. Students should ensure that they attend review classes without giving any excuses for
not enrolling to these reviews.
41. Students should take time to read about examination techniques that are published
regularly in the NBAA Students’ Newsletters and other publications in order to acquire
rightful techniques in dealing and answering examination questions.
42. Students should make use of the syllabus outlines during their preparations in order to
countercheck that they have adequately covered the syllabus.
43. Students should m a k e use of group discussions in order to e n h a n c e their
understanding through such discussion.

104
44. Students should orient themselves with different type of questions, theoretical and
computational type of questions and do thorough preparations during the study sessions.
They should also equip themselves with analytical skills, especially as at the higher levels
in order to be tackle questions that require such skills.
45. Students should change their reading behaviour of memorizing various questions and
answers by devoting their time in reading various books and get an insight of the subject
matters.
46. Students should make thorough preparation for the examination by reading extensively
the recommendations text books to supplement what they are getting from the review
classes.
47. Students are advised to apply the following techniques among others in order to pass
their examinations.
47.1 Ensuring well coverage of the syllabus
Candidates are required to use the syllabus as their base of determining whether
they are ready to sit for the examinations or not. The problem of most candidates
is total dependence on the trainers. It is not funny to find a candidate attending a
review class without having a syllabus. It is difficult for such a candidate to know
what has been covered by the trainer and what has been left out. Some candidates
instead of ensuring that they have covered the syllabus adequately they rely on
Question and Answers (Qs and Ans) booklets. Questions and Answers of previous
examinations are good but they are not supplements of the syllabus. By reading
Question and Answer booklets students cannot get sufficient knowledge about the
subject matter. The best way of making use of Qs and as is after the completion
of the syllabus to see how examination questions are set and the best ways to
approach them.

47.2 Active participation in the classroom sessions

The education system of most countries including Tanzania does not prepare
students/candidates to take active role in the classroom. The predominant teaching
method used i.e. lecturing is characterized by various shortcomings including:
subject experts are not always good teachers, students are passive, learning is
difficult to gauge and communication is one way i.e. students are just listening to
lectures and do not participate actively. If a student goes to the class waiting for a
trainer to come and dish information to be grasped, automatically learning
becomes impaired. An effective learning to take place requires the learners to take
effective role in the learning process. Experience shows that students who ask
questions and pose challenges during the learning process they do well in their
examinations. Asking a question or posing a challenge to a trainer does not come
from nowhere, it come only if a student is interested to what he is learning. An
interested student in the learning process is the one who takes trouble to read what
is going to be taught before entering the class. Therefore, trainers are required to
prepare course outlines derived from the prescribe syllabus so as to enable
students to follow. Students can make use of the course outline to prepare on their
own before they go to the classroom. The lesson becomes enjoyable when both

105
 students and the trainers are prepared before entering the classroom. In short,
student’s active role in the class is fundamental factor in the effective learning
process.
47.3 Review class attendance
Review classes are quite different from formal schooling. In the formal schooling
context trainers exercise authority of controlling students’ attendance. They can
penalize students who miss classes without genuine reasons. This does not happen
in the review classes because those who are attending review classes are
heterogeneous. Some are employees, some are self-employed, and others are fresh
graduates from colleges while others are occupied with various social
responsibilities. It becomes difficult for the trainers to control attendance of such
categories of learners. But we should bear in mind that at higher level education,
classroom attendance is not a responsibility of the trainer. If there is any candidate
who misses classes just because there is no one to question about it, such a student
must have some problems. No one is expecting to see a student missing a class
without having genuine reasons at this level of education. But, generally there is
lack of seriousness among most candidates especially in the case of classroom
attendance. Candidates are therefore reminded that attending classroom sessions
appropriately should be self-motivated.
There is a good number of candidates who never attend review classes with
confidence that they know each and every thing. They register themselves for
examinations as private candidates. Experience shows that candidates who are
attending review classes have a far better chance to pass their examinations than
those who do not attend. Some of the candidates attend review classes only when
they sit for the examinations on the first time but when they are required to refer
or re-seat the examinations they neglect to register for review classes. They claim
to have adequate and sufficient materials and therefore they can study on their
own. This is not always a good decision. Human brain is characterized by the
nature of forgetting. A famous study on forgetting textbook materials compared
the percentage of material remembered after different intervals of time. The results
were as follows:
After 1 day 54% was remembered.
After 7 days 35% was remembered.
After 14 days 21% was remembered.
After 21 days 18% was remembered.
After 28 days 19% was remembered.
After 63 days 17% was remembered.
Remembering what you have heard in lectures is even more difficult to recall
because you are not able to slow down, pause, reflect, or to reread unless you take
excellent notes! In a study on recall after listening to a lecture, students forgot
more than 90% of the points from the lecture after 14 days! (Engle, Susan: Context
is everything: The nature of memory. W.H. Freeman & Co, 1999). If that is the
case, then there is no way a candidate may decide not to attend review classes.

106
47.4 Group discussions
By not sharing ones knowledge of understanding about a particular subject matter
a candidate may think that he knows much about the subject but when it comes into
examination, such a candidate fails! It is very easy for someone to cheat himself
that he knows much about a particular subject matter due to lack of sharing
knowledge with others. Going to the library daily or doing daily self-study is not
a direct ticket to pass examinations. There is a belief that when you are taught
something by your fellow student who understands the subject matter, the
knowledge sticks into your mind than being taught by a trainer. Group discussions
are said to be a good source of learning and sharing of knowledge and experiences
due to its nature of open interaction. Although most candidates who are preparing
for the professional examinations are facing limited time to organize group
discussions, they should not ignore it at all. They should be aware that sometimes
it is far better to discuss a subject/topic in a group than going to the library for self-
study. Group discussion is a potential source of learning but it is ignored by most
candidates. Candidates are therefore obliged to form group discussions to discuss
various topics especially those which are most difficult or complicated.
47.5 Practice deep learning
One of the major factors that lead to poor performance in the examinations is
learning things in shallow. Most candidates have ample time to study but they do
not do it until the ‘late hours’. They keep on saying ‘there is enough time to study’.
But since time does not on the favour of anyone in this universe they find
themselves running shortage of time. What follows after this is to make ‘ad hoc’
preparations. In this case therefore they practise what the psychologists call ‘rote
learning’. By definition rote learning is a learning technique which avoids
understanding the inner complexities and inferences of the subject that is being
learned and instead focuses on memorizing the materials so that it can be recalled
by the learner exactly the way it was read or heard. In other words, it is learning
"just for the test".
The major practice involved in rote learning techniques is learning by repetition,
based on the idea that one will be able to recall the meaning of the material the more
they repeat it. However, in many fields, especially mathematics and related
disciplines, this can often produce poor results.
Rote learning is not the best way of studying. Students are required to study a
subject matter in deep. This will make them to own what they have learnt and
express it in their own words. In rote learning a student tries to reproduce what he
has read as it was read. ‘If a student reads something with the aim of reproducing
it as it is, that is not understanding. This method limits a student to learn many
things because memory capacity for human beings is also limited. Students should
also be aware that rote learning does not develop interest to learn. As you memorize
new materials the old ones fade out.

107
47.6 Conclusion
Candidates should take trouble to read various techniques for passing examinations
Rather than concentrating only on studying topics that will appear in the
examinations. Those who have been able to make use of various study techniques
have found themselves enjoying learning and finally pass their examinations.
Studying for the examinations should be enjoyable rather than becoming
cumbersome and boring exercise for the candidates. This is possible if the candidates
apply appropriate techniques in their studies.

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 CHAPTE IV

CANDIDATURE DISTRIBUTION

The Board’s examination candidature comes from various training institutions (Tuition
Providers) in the country. The November 2023 examination session drew candidates from
the following institutions as per Table 10:
TABLE 10

109
 NO. OF CANDIDATES

ATEC ATEC FOUND INTERME

S/NO NAME FINAL TOTAL
ONE TWO ATION DIATE
1 ACCESS FINANCIAL 2 1 4 13 10 30
2 ACCOUNTIN-GO 1 1 8 83 50 143
3 ADONIJAH BUSINESS 0 0 2 1 0 3
4 CARDINAL RUGAMBWA 0 0 0 1 0 1
5 CFC ONLINE TRAINING CENTRE 2 6 67 195 148 418
6 CONVENANT FINANCIAL 11 20 90 245 120 486
7 CORNERSTONE FINANCIAL 1 1 9 24 10 45
8 DSM CPA REVIEW CENTER 12 27 84 280 88 491
9 EMINENT FINANCIAL 0 0 0 0 1 1
CONSULTANTS
10 EVIN SCHOOL OF MANAGEMENT 0 0 18 452 387 857
11 EXCEL FINANCIAL AND TAX 3 3 12 30 25 73
12 FB TRAINING CENTER 1 2 2 8 1 14
13 FILADEFIA FINANCIAL 2 0 7 12 17 38
CONSULTANCY
14 HYBRID FINANCIAL 0 0 5 145 10 160
CONSULTANTS
15 IDIANA CONSULTANCY AND 0 1 0 6 0 7
16 INSTITUTE OF ACCOUNTANCY 4 13 41 93 54 205
17 MOJA FINANCIAL 0 0 0 0 1 1
18 MZUMBE UNIVERSITY 0 2 2 69 1 74
19 PAC ARUSHA 0 0 14 31 19 64
20 PRIVATE 62 109 503 2122 1018 3814
21 SAPPAR WORLD COMPANY 1 6 7 31 6 51
22 STAR FINANCIAL CONSULTANTS 0 0 2 8 6 16
23 SUCCESS CPA REVIEW CENTER 0 0 2 53 31 86
24 SUYOO VIJANA RESOLUTION 0 3 8 12 3 26
25 TANZANIA INSTITUTE OF 1 0 1 22 1 25
ACCOUNTACY
26 TCCG DODOMA 0 1 10 25 16 52
27 THE ACCOUNTANT FINANCIAL 0 0 0 0 2 2
28 UNIVERSITY OF ARUSHA 0 0 0 1 0 1
29 UNIVERSITY OF IRINGA 0 0 3 4 0 7
30 UPTAKE BUSINESS 0 0 0 19 12 31
RESOURCES(T) LTD
31 VUGA EAGLE CO.LTD 0 0 4 23 14 41
32 WEXITO CONSULTING GROUP 0 0 6 51 30 87
33 ZANZIBAR INTERLLECTUAL 0 0 2 0 0 2
TOTAL 103 196 913 4059 2081

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KEY

NAME OF INSTITUTION REVIEW CENTRE

S/N
Part-Time Review Classes conducted by Accountin-Go-
1 ACCOUNTIN-GO
MWANZA Consultants – DSM
CFC ONLINE TRAINING Part-Time Review Classes conducted by CFC Online
2
CENTRE Training– DAR ES SALAAM.
Part-Time Review Classes conducted by Covenant
3 CONVENANT FINANCIAL
Financial Consultants– DAR ES SALAAM
Part-Time Review Classes conducted by Cornerstone
4 CORNERSTONE FINANCIAL
Financial Consultants– DAR ES SALAAM
Part-Time Review Classes conducted by Dar es salaam
5 DSM CPA REVIEW CENTER
CPA Review Centre– DAR ES SALAAM
EVIN SCHOOL OF Part-Time Review Classes conducted by Evin School of
6
MANAGEMENT Management– DAR ES SALAAM
Part-Time Review Classes conducted by Excel Financial
7 EXCEL FINANCIAL AND TAX
and Tax Foundation – MOSHI
Part-Time Review Classes conducted by FB Training
8 FB TRAINING CENTER
Center – DAR ES SALAAM
FILADEFIA FINANCIAL Part-Time Review Classes conducted by Filadefia
9
CONSULTANCY Financial Consultancy – DODOMA
Part-Time Review Classes conducted by Fundamental
10 FUNDAMENTAL FINANCIAL
Financial Consultants – DODOMA
HYBRID FINANCIAL Part-Time Review Classes conducted by Hybrid Financial
11
CONSULTANTS Consultants – DAR ES SALAAM
Part-Time Review Classes conducted by IAA Dodoma
12 IAA DODOMA LEARNING
Learning Centre – DODOMA
Part-Time Review Classes conducted by Idiana
13 IDIANA CONSULTANCY AND
Consultancy and CPA(T) Review Class – MBEYA
INSTITUTE OF Part-Time Review Classes conducted by Institute of
14
ACCOUNTANCYY Accountancy Arusha – ARUSHA
Part-Time Review Classes conducted by Mzumbe
15 MZUMBE UNIVERSITY
University– MOROGORO
NOBLE BUSINESS Part-Time Review Classes conducted by Noble
16
SOLUTIONS Business Solutions – DAR ES SALAAM.
Part-Time Review Classes conducted by PAC Arusha–
17 PAC ARUSHA
ARUSHA.
Part-Time Review Classes conducted by Sappar World
18 SAPPAR WORLD COMPANY
Company Limited– DAR ES SALAAM.
STAR FINANCIAL Part-Time Review Classes conducted by Star Financial
19
CONSULTANTS Consultants-MWANZA
Part-Time Review Classes conducted by Stella Maris CPA
20 STELLA MARIS CPA REVIEW
Review Programme-MTWARA
SUCCESS CPA REVIEW Part-Time Review Classes conducted by Success CPA
21
CENTER Review Center-MOSHI

111
 Part-Time Review Classes conducted by TCCG Dodoma-
22 TCCG DODOMA
DODOMA
Part-Time Review Classes conducted by University of
23 UNIVERSITY OF ARUSHA
Arusha -ARUSHA
Part-Time Review Classes conducted by University of
24 UNIVERSITY OF IRINGA
Iringa -IRINGA
Part-Time Review Classes conducted by Uptake Business
25 UPTAKE BUSINESS RESOURCES(T) LTD
Resources(T) Ltd-DAR ES SALAAM
Part-Time Review Classes conducted by Vuga Eagle
26 VUGA EAGLE CO.LTD
Co.LTD-ARUSHA.
Part-Time Review Classes conducted by Zanzibar
27 ZANZIBAR INTERLLECTUALL
Interllectual &Business Consultants.-ZANZIBAR.

INSTITUTIONAL PERFOMANCE
The assessment of institutional performance is done using two approaches:

1. Best Candidate Approach

The best institution under this approach is the one which produces the “NBAA Best
Level Candidate” a candidate who obtained the highest aggregate at a single examination
attempt. Using this approach, the best candidate for each of the Board’s examination levels
is as follows:

Examination Best Candidates come from

ATEC I PT-Covenant Financial
Consultants

ATEC II PRIVATE

FOUNDATION LEVEL PT-PAC Arusha

INTERMEDIATE LEVEL PRIVATE

FINAL LEVEL PRIVATE

2. Performance Approach:
Under this approach, the best institution is that which obtains the highest Grade Point
Average (GPA) in relation to the total number of A, B, C, F grades obtained by
candidates in comparison with total number of papers sat by candidates in that level.
The following formula is applied

(NaPa + NbPb + NcPc + NfPf)

Subject GPA =
(Na + Nb + Nc + Nf)

112
Where Na = Total Number of Candidates who have scored A in an institution at
that level
Nb = Total Number of Candidates who have scored B in an institution at
that level
Nc = Total Number of Candidates who have scored C in an institution at that
level
Nf = Total Number of Candidates who have scored F in an institution at that
level
Pa = The weight of Grade A = 3
Pb = The weight of Grade B = 2

Pc = The weight of Grade C = 1

Pf = The weight of Grade F = 0

113
Arising from the above, the best three institutions under this approach for each examination level are as
indicated hereunder: (See tables 11.1(a) to 11.5(b) on pages 112 to 121 of this report).

Examination Level Best Institution

ATEC I:
st
Category A: 1-5 1 -PT DS 1st - PT Filadefia Financial Consultancy
Candidates - PT Institute of Accountancy Arusha

3rd –PT CFC Online Training Centre

Category B: Above 5 Candidates 1st - PT Covenant Financial Consultants

2nd - PT DSM review Centre

ATEC II:

Category A: 1-5 1st - PT Accountin-Go

Candidates 2nd -PT Access Financial
3rd –PT Idiana Consultancy and Review Class

Category B: Above 5 Candidates 1st - PT Sappar World Company

2nd - PT Covenant Financial Consultants
3rd - CFC Online Training Centre

FOUNDATION LEVEL:
Category A: 1-20 1st - PT Star Financial Consultants
Candidates 2nd -PT University of Iringa
3rd -PT Mzumbe University
Category B: Above 20 Candidates 1st - PT DSM CPA Review Center
2nd -PT Covenant Financial Consultants
3rd - PT CFC Online Training Centre

INTERMEDIATE LEVEL:
Category A: 1-20 1st - PT Adonijah Business
Candidates - PT Cardinal Rugambwa -Bukoba

3rd - PT-FB Training Center

Category B: Above 20 Candidates 1st - PT Success CPA Review Center
2nd - PT Mzumbe University
3rd - PT Covenant Financial Consultants

114
FINAL LEVEL:
Category A: 1-20 1st -PT FB Training Center
Candidates 2nd -PT Mzumbe University
-PT The Accountant Financial Consultants
st
Category B: Above 20 Candidates 1 -PT Covenant Financial Consultants
2nd -PT DSM CPA Review Center
3rd -PT-Institute of Accountancy Arusha

115
 TABLE 11.1(a)
SUMMARY OF RESULTS BY EXAMINATION LEVEL AND INSTITUTION WISE
1-5 CANDIDATES - ACCOUNTING TECHNICIAN LEVEL I

No of No No of No of No
Institution Entered Absent Sat % of A % of B % of C % of F GPA Ranking
papers of A B C of F
Filadefia Financial Consultancy 2 0 2 8 1 12.5% 3 37.5% 4 50.0% 0 0.0% 1.63 1
Institute of Accountancy Arusha 4 0 4 8 0 0.0% 5 62.5% 3 37.5% 0 0.0% 1.63 1
CFC Online Training Centre 2 0 2 6 0 0.0% 1 16.7% 4 66.7% 1 16.7% 1.00 3
Accountin-Go 1 0 1 4 0 0.0% 0 0.0% 3 75.0% 1 25.0% 0.75 4
Sappar World Company 1 0 1 3 0 0.0% 1 33.3% 0 0.0% 2 66.7% 0.67 5
Excel Financial And Tax 3 0 3 5 0 0.0% 0 0.0% 2 40.0% 3 60.0% 0.40 6
Cornerstone Financial 1 0 1 3 0 0.0% 0 0.0% 0 0.0% 3 100.0% 0.00 7
FB Training Center 1 0 1 1 0 0.0% 0 0.0% 0 0.0% 1 100.0% 0.00 7
Tanzania Institute of Accountancy 1 0 1 1 0 0.0% 0 0.0% 0 0.0% 1 100.0% 0.00 7
Access Financial 2 0 2 5 0 0.0% 0 0.0% 0 0.0% 5 100.0% 0.00 7
Subtotals 18 0 18 44 1 2.3% 10 22.7% 16 36.4% 4 9.1% 1.26

RANKING

1st - PT Filadefia Financial Consultancy

- PT Institute of Accountancy Arusha
3rd - PT CFC Online Training Centre

Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

116
 TABLE 11.1(b)
SUMMARY OF RESULTS BY EXAMINATION LEVEL AND INSTITUTION WISE
ABOVE 5 CANDIDATES - ACCOUNTING TECHNICIAN LEVEL I

No of No No of
Institution Entered Absent Sat % of A No of B % of B % of C No of F % of F GPA Ranking
papers of A C
Covenant Financial
Consultants 11 0 11 42 6 14.3% 24 57.1% 9 21.4% 3 7.1% 1.79 1
DSM CPA Review Center
12 0 12 36 3 8.3% 11 30.6% 6 16.7% 16 44.4% 1.03 2

Subtotals 23 0 23 78 9 11.5% 35 44.9% 15 19.2% 19 24.4%

RANKING
1st - PT Covenant Financial Consultants
2nd - PT DSM CPA Review Center

Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level?

117
 TABLE 11.2(a)

SUMMARY OF RESULTS BY EXAMINATION LEVEL AND INSTITUTION WISE

1-5 CANDIDATES - ACCOUNTING TECHNICIAN LEVEL II

No of No of % of No of No of No of
Institution Entered Absent Sat papers A A B % of B C % of C F % of F GPA Ranking
Accountin-Go 1 0 1 1 0 0.0% 1 100.0% 0 0.0% 0 0.0% 2.00 1
Access Financial 1 0 1 4 1 25.0% 2 50.0% 0 0.0% 1 25.0% 1.75 2
Idiana Consultancy and Review
1 0 1 2
Class 0 0.0% 1 50.0% 1 50.0% 0 0.0% 1.50 3
Mzumbe University 2 0 2 8 0 0.0% 4 50.0% 2 25.0% 2 25.0% 1.25 4
Cornerstone Financial Consultants 1 0 1 3 0 0.0% 1 33.3% 1 33.3% 1 33.3% 1.00 5
FB Training Center 2 0 2 3 0 0.0% 0 0.0% 2 66.7% 1 33.3% 0.67 6
Suyoo Vijana Resolution 3 0 3 11 0 0.0% 2 18.2% 0 0.0% 9 81.8% 0.36 7
Excel Financial and Tax Foundation 3 0 3 4 0 0.0% 0 0.0% 1 25.0% 3 75.0% 0.25 8
TCCG Dodoma 1 0 1 1 0 0.0% 0 0.0% 0 0.0% 1 100.0% 0.00 9
Subtotals 15 0 15 37 1 2.7% 11 29.7% 7 18.9% 18 48.6%

RANKING
1st -PT Accountin-Go
2nd - PT Access Financial
3rd - PT Idiana Consultancy and Review Class

Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

118
 TABLE 11.2(b)
SUMMARY OF RESULTS BY EXAMINATION LEVEL AND INSTITUTION WISE
ABOVE 5 CANDIDATES - ACCOUNTING TECHNICIAN LEVEL II

No of No of % of No of % of No of % of No of % of
Institution Entered Absent Sat papers A A B B C C F F GPA Ranking
Sappar World Company 6 0 6 22 0 0.0% 11 50.0% 5 22.7% 6 27.3% 1.23 1
Covenant Financial Consultants 20 0 20 67 5 7.5% 19 28.4% 20 29.9% 23 34.3% 1.09 2
CFC Online Training Centre 6 0 6 16 1 6.3% 3 18.8% 8 50.0% 4 25.0% 1.06 3
DSM CPA Review Center 27 0 27 66 5 7.6% 20 30.3% 14 21.2% 27 40.9% 1.05 4
Institute of Accountancy Arusha 13 0 13 47 2 4.3% 13 27.7% 10 21.3% 22 46.8% 0.89 5
Sub-totals 72 0 72 218 13 6.0% 66 30.3% 57 26.1% 82 37.6%

RANKING
1st - PT Sappar World Company
2nd - PT Covenant Financial Consultants
3rd - CFC Online Training Centre

Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

119
 TABLE 11.3(a)
SUMMARY OF RESULTS BY EXAMINATION LEVELS AND INSTITUTIONS
1 - 20 CANDIDATES - FOUNDATION LEVEL

No of No of % of No of % of No of % of No of % of
Institution Entered Absent Sat papers A A B B C C F F GPA Ranking
Star Financial Consultants 2 0 2 6 0 0.0% 3 50.0% 2 33.3% 1 16.7% 1.33 1
University of Iringa 3 0 3 10 0 0.0% 5 50.0% 3 30.0% 2 20.0% 1.30 2
Mzumbe University 2 0 2 4 0 0.0% 1 25.0% 3 75.0% 0 0.0% 1.25 3
PAC Arusha 14 0 14 32 2 6.3% 6 18.8% 17 53.1% 7 21.9% 1.09 4
Access Financial 4 0 4 10 0 0.0% 3 30.0% 4 40.0% 3 30.0% 1.00 5
Excel Financial and Tax Foundation 12 0 12 23 0 0.0% 5 21.7% 11 47.8% 7 30.4% 0.91 6
Vuga Eagle Co.Ltd 4 0 4 8 0 0.0% 1 12.5% 5 62.5% 2 25.0% 0.88 7
Hybrid Financial Consultants 5 0 5 8 0 0.0% 0 0.0% 7 87.5% 1 12.5% 0.88 7
Suyoo Vijana Resolution 8 0 8 31 1 3.2% 4 12.9% 16 51.6% 10 32.3% 0.87 9
Sappar World Company 7 0 7 20 0 0.0% 2 10.0% 12 60.0% 6 30.0% 0.80 10
Evin School of Management 18 0 18 38 0 0.0% 6 15.8% 18 47.4% 14 36.8% 0.79 11
TCCG Dodoma 10 0 10 22 0 0.0% 3 13.6% 11 50.0% 8 36.4% 0.77 12
Success CPA Review Center 2 0 2 4 0 0.0% 1 25.0% 1 25.0% 2 50.0% 0.75 13
Wexito Consulting Group 6 0 6 19 0 0.0% 2 10.5% 10 52.6% 7 36.8% 0.74 14
Cornerstone Financial Consultants 9 0 9 27 0 0.0% 1 3.7% 15 55.6% 11 40.7% 0.63 15
Accountin-Go 8 0 8 23 0 0.0% 0 0.0% 14 60.9% 9 39.1% 0.61 16
Zanzibar Interllectual and Business
2 0 2 5
Consultants 0 0.0% 0 0.0% 3 60.0% 2 40.0% 0.60 17
Tanzania Institute of Arusha 1 0 1 2 0 0.0% 0 0.0% 1 50.0% 1 50.0% 0.50 18
Filadefia Financial Consultancy 7 0 7 18 0 0.0% 0 0.0% 8 44.4% 10 55.6% 0.44 19
FB Training Center 2 0 2 4 0 0.0% 0 0.0% 1 25.0% 3 75.0% 0.25 20
Adonijah Business Consultancy 2 0 2 2 0 0.0% 0 0.0% 0 0.0% 2 100.0% 0.00 21
Sub-totals 128 0 128 316 3 0.9% 43 13.6% 162 51.3% 108 34.2%

RANKING
1st - PT Star Financial Consultants
2nd - PTUniversity of Iringa
3rd- PT Mzumbe University
120
Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

121
 TABLE 11.3(b)

SUMMARY OF RESULTS BY EXAMINATION LEVELS AND INSTITUTIONS ABOVE 20

CANDIDATES - FOUNDATION LEVEL
No of No of % of No of No of No of
Institution Entered Absent Sat % of B % of C % of F GPA Ranking
papers A A B C F
DSM CPA Review Center 84 0 84 228 6 2.6% 52 22.8% 112 49.1% 58 25.4% 1.03 1
Covenant Financial Consultants 90 0 17 267 2 0.7% 55 20.6% 140 52.4% 70 26.2% 0.96 2
CFC Online Training Centre 67 0 67 176 0 0.0% 27 15.3% 95 54.0% 54 30.7% 0.85 3
Institute of Accountancy Arusha 41 0 41 125 0 0.0% 14 11.2% 72 57.6% 39 31.2% 0.80 4
Sub-totals 282 0 209 796 8 1.0% 148 18.6% 419 52.6% 221 27.8%

RANKING
st
1 - PT DSM CPA Review Center
2nd - PT Covenant Financial Consultants
3rd - PT CFC Online Training Centre

Key:
Total No of Papers Attempted – Is calculated as sum of Number of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

122
 TABLE 11.4(a)

SUMMARY OF RESULTS BY EXAMINATION LEVELS AND INSTITUTIONS

1-20 CANDIDATES - INTERMEDIATE LEVEL

No of No of % of No of % of No of No of
Institution Entered Absent Sat papers A A B B C % of C F % of F GPA Ranking
Adonijah Business Consultancy 1 0 1 1 0 0.0% 0 0.0% 1 100.0% 0 0.0% 1.00 1
Cardinal Rugambwa Bukoba 1 0 1 2 0 0.0% 0 0.0% 2 100.0% 0 0.0% 1.00 1
FB Training Center 8 0 8 17 0 0.0% 0 0.0% 12 70.6% 5 29.4% 0.71 3
Access Financial 13 0 13 33 0 0.0% 1 3.0% 18 54.5% 14 42.4% 0.61 4
Star Financial Consultants 8 0 8 18 0 0.0% 1 5.6% 6 33.3% 11 61.1% 0.44 5
Suyoo Vijana Resolution 12 0 12 37 0 0.0% 0 0.0% 15 40.5% 22 59.5% 0.41 6
Idiana Consultancy and Review
6 0 6 33
Class 0 0.0% 0 0.0% 13 39.4% 20 60.6% 0.39 7
Uptake Business Resources(T) Ltd 19 0 19 37 0 0.0% 0 0.0% 14 37.8% 23 62.2% 0.38 8
Filadefia Financial Consultancy 12 0 12 30 0 0.0% 0 0.0% 9 30.0% 21 70.0% 0.30 9
University of Arusha 1 0 1 5 0 0.0% 0 0.0% 1 20.0% 4 80.0% 0.20 10
University of Iringa 4 0 4 9 0 0.0% 0 0.0% 1 11.1% 8 88.9% 0.11 11
Subtotals 85 0 85 222 0 0.0% 2 0.9% 92 41.4% 128 57.7%

RANKING
1st - PT Adonijah Business Consultancy
- PT Cardinal Rugambwa Bukoba
3rd - PT FB Training Center

Key:
Total No of Papers Attempted – Is calculated as sum of Number of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

123
 TABLE 11.4(b)
SUMMARY OF RESULTS BY EXAMINATION LEVELS AND INSTITUTIONS
ABOVE 20 CANDIDATES - INTERMEDIATE LEVEL
No of No of % of No of % of No of No of
Institution Entered Absent Sat papers A A B B C % of C F % of F GPA Ranking
Success CPA Review Center 53 0 53 128 0 0.0% 7 5.5% 75 58.6% 46 35.9% 0.70 1
Mzumbe University 69 0 69 334 0 0.0% 31 9.3% 169 50.6% 134 40.1% 0.69 2
Covenant Financial Consultants 245 0 245 839 1 0.1% 66 7.9% 425 50.7% 347 41.4% 0.67 3
Sappar World Company 31 0 31 115 0 0.0% 11 9.6% 52 45.2% 52 45.2% 0.64 4
DSM CPA Review Center 280 0 280 812 0 0.0% 54 6.7% 407 50.1% 351 43.2% 0.63 5
Wexito Consulting Group 51 0 51 136 0 0.0% 6 4.4% 73 53.7% 57 41.9% 0.63 6
CFC Online Training Centre 195 0 195 427 0 0.0% 31 7.3% 195 45.7% 201 47.1% 0.60 7
Evin School of Management 452 0 452 824 0 0.0% 20 2.4% 439 53.3% 365 44.3% 0.58 8
Excel Financial and Tax Foundation 30 0 30 69 0 0.0% 1 1.4% 35 50.7% 33 47.8% 0.54 9
Accountin-Go 83 0 83 194 0 0.0% 6 3.1% 90 46.4% 98 50.5% 0.53 10
Institute of Accountancy Arusha 93 0 93 235 0 0.0% 9 3.8% 88 37.4% 138 58.7% 0.45 11
Tanzania Institute Of Accountancy 22 0 22 60 0 0.0% 2 3.3% 22 36.7% 36 60.0% 0.43 12
Hybrid Financial Consultants 145 0 145 207 0 0.0% 3 1.4% 71 34.3% 133 64.3% 0.37 13
TCCG Dodoma 25 0 25 44 0 0.0% 0 0.0% 15 34.1% 29 65.9% 0.34 14
Vuga Eagle Co.Ltd 23 0 23 42 0 0.0% 0 0.0% 13 31.0% 29 69.0% 0.31 15
PAC Arusha 31 0 31 74 0 0.0% 1 1.4% 18 24.3% 55 74.3% 0.27 16
Cornerstone Financial Consultants 24 0 24 40 0 0.0% 0 0.0% 9 22.5% 31 77.5% 0.23 17
Subtotals 1852 0 1852 4580 1 0.0% 248 5.4% 2196 47.9% 2135 46.6%

RANKING
1st - PT Success CPA Review Center
2nd - PT Mzumbe University
3rd - PT Covenant Financial Consultants

Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

124
 TABLE 11.5(a)
SUMMARY OF RESULTS BY EXAMINATION LEVELS AND INSTITUTIONS
1-20 CANDIDATES - FINAL LEVEL

No of No of % of No of % No of No of
Institution Entered Absent Sat papers A A B of B C % of C F % of F GPA Ranking
FB Training Center 1 0 1 1 0 0.0% 0 0.0% 1 100.0% 0 0.0% 1.00 1
Mzumbe University 1 0 1 2 0 0.0% 0 0.0% 1 50.0% 1 50.0% 0.50 2
The Accountant Financial
2 0 2 2
Consultants 0 0.0% 0 0.0% 1 50.0% 1 50.0% 0.50 2
Suyoo Vijana Resolution 3 0 3 4 0 0.0% 0 0.0% 2 50.0% 2 50.0% 0.50 2
Hybrid Financial Consultants 10 0 10 15 0 0.0% 0 0.0% 7 46.7% 8 53.3% 0.47 5
Cornerstone Financial Consultants 10 0 10 14 0 0.0% 0 0.0% 5 35.7% 9 64.3% 0.36 6
Uptake Business Resources(T) Ltd 12 0 12 19 0 0.0% 0 0.0% 6 31.6% 13 68.4% 0.32 7
Access Financial 10 0 10 14 0 0.0% 0 0.0% 4 28.6% 10 71.4% 0.29 8
TCCG Dodoma 16 0 16 28 0 0.0% 0 0.0% 8 28.6% 20 71.4% 0.29 8
Sappar World Company 6 0 6 13 0 0.0% 0 0.0% 3 23.1% 10 76.9% 0.23 10
PAC Arusha 19 0 19 35 0 0.0% 0 0.0% 8 22.9% 27 77.1% 0.23 11
Filadefia Financial Consultancy 17 0 17 27 0 0.0% 0 0.0% 4 14.8% 23 85.2% 0.15 12
Vuga Eagle Co.Ltd 14 0 14 28 0 0.0% 0 0.0% 4 14.3% 24 85.7% 0.14 13
Star Financial Consultants 6 0 6 10 0 0.0% 0 0.0% 1 10.0% 9 90.0% 0.10 14
Eminent Financial Consultants 1 0 1 1 0 0.0% 0 0.0% 0 0.0% 1 100.0% 0.00 15
Moja Financial Consultants 1 0 1 1 0 0.0% 0 0.0% 0 0.0% 1 100.0% 0.00 15
Tanzania Institute of Accountancy 1 0 1 1 0 0.0% 0 0.0% 0 0.0% 1 100.0% 0.00 15
Sub-totals 130 0 130 215 0 0 0 0.0% 55 25.6% 160 74.4%

RANKING
st
1 - PT FB Training Center
2nd - PT Mzumbe University
- PT The Accountant Financial Consultants

125
Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level.

126
 TABLE 11.5 (b)
SUMMARY OF RESULTS BY EXAMINATION LEVELS AND INSTITUTIONS
ABOVE 20 CANDIDATES - FINAL LEVEL

No of No of % of No of No of
Institution Entered Absent Sat papers A A B % of B C % of C No of F % of F GPA Ranking
Covenant Financial Consultants 120 0 120 266 0 0.0% 12 4.5% 140 52.6% 114 42.9% 0.62 1
DSM CPA Review Center 88 0 88 210 0 0.0% 12 5.7% 99 47.1% 99 47.1% 0.59 2
Institute of Accountancy Arusha 54 0 54 132 0 0.0% 4 3.0% 65 49.2% 63 47.7% 0.55 3
Wexito Consulting Group 30 0 30 69 0 0.0% 4 5.8% 29 42.0% 36 52.2% 0.54 4
Success CPA Review Center 31 0 31 60 0 0.0% 2 3.3% 27 45.0% 31 51.7% 0.52 5
Excel Financial and Tax
25 0 25 53
Foundation 0 0.0% 1 1.9% 23 43.4% 29 54.7% 0.47 6
Evin School of Management 387 0 387 671 0 0.0% 14 2.1% 263 39.2% 394 58.7% 0.43 7
CFC Online Training Centre 148 0 148 225 0 0.0% 6 2.7% 82 36.4% 137 60.9% 0.42 8
Accountin-Go 50 0 50 107 0 0.0% 0 0.0% 37 34.6% 70 65.4% 0.35 9
Subtotals 933 0 933 1793 0 0.0% 55 3.1% 765 42.7% 973 54.3%

RANKING
st
1 - PT Covenant Financial Consultants
2nd - PT DSM CPA Review Center
3rd - PT Institute of Accountancy Arusha

Key:
Total No of Papers Attempted – Is calculated as sum of No of Candidates times Papers Attempted (∑ of Candidates x No of Papers)
Number of Grades – Is Number of Grades (A-F) scored by that Institution in all papers in that particular level

127
 CHAPTER VI

CANDIDATES WINNING THE SPECIAL PRIZES – NOVEMBER 2023 EXAMINATION

SESSION

1.0 PRIZES OFFERED BY NBAA

NBAA offers prizes in the following categories:
1.0.1 Best Level Performance Prize
1.0.2 Single Subject Prize
1.0.3 Best Female Prizes

1.1 Minimum Requirement to Win the Prize

In order to win any of the above prizes offered by NBAA, the minimum requirement
is for a candidate to obtain an overall pass in a level, having attempted whole set of
subjects in that level and passing at a single examination attempt.

1.2 Amount offered in each Examination level:

1.2.1 NBAA Best Level Performance Prize
This prize is awarded to the best candidate who completes an examination level
in the first attempt and scores highest marks in aggregate in that level.

Examination Level Exam Paper Codes Amounts

Tshs.
Accounting Technician Levels I & II T01 – T08 100,000
Foundation Level A1 – A6 120,000
Intermediate Level B1 – B6 160,000
Final Level C1 – C4 200,000

1.2.2 Single Subject Prize (Subject to Subject) Performance Prize

The prize is awarded to the best candidate who has excelled in a subject by
attaining at least a credit mark – 70% or above in the Accounting Technician
Examination Scheme, 60% or above in the Professional Examination Scheme.

Examination Level Exam Paper Codes Amounts

Tshs.
Accounting Technician Levels I & II T01 – T08 80,000
Foundation Level A1 – A6 100,000
Intermediate Level B1 – B6 120,000
Final Level C1 – C4 140,000

128
 1.2.3 Best Female Prizes
In motivating female candidates to work harder in their studies and perform
better in the Board’s examination, two categories of prizes are offered to
female candidates as follows:

1.2.3.1 Best Level Female Performance Prize:

This prize is offered to a female candidate as long as the score in aggregate in
a level is 70% and above in ATEC examinations and 60% and above in
professional examinations.

Examination Level Exam Paper Codes Amounts

Tshs.
Accounting Technician Level I T01 – T04 100,000
Accounting Technician Level II T05 – T08 100,000
Foundation Level A1 – A6 120,000
Intermediate Level B1 – B6 160,000
Final Stage Level C1 – C4 200,000

1.2.3.2 Best Female Graduate Prize:

The second category of prize is the Best Graduate Prize which is offered to the
female candidate who scores highest marks in aggregate among female
candidates in ATEC II or CPA (T).

Examination Level Exam Paper Amounts

Codes Tshs.
Best ATEC Female Graduate Prize Award T05 – T08 500,000
Best CPA (T) Female Graduate Prize Award C1 – C4 1,000,000

1.3 Prizes won by Candidates:

1.3.1 NBAA Best Level Performance Prize:

Code and Subject Name Name CR No. Amount

Tshs.
Accounting Technician Level I SIRILY LASWAI 43088 100,000

Accounting Technician Level II ANGANILE MWAKABANA 42573 100,000

Foundation Level JOSEPHAT NGONDE 42966 120,000

Intermediate Level LEVINA CHAMI 42111 160,000

Final Level AUDREY LAWRENCE 37186 200,000

129
1.3.2 Subject to Subject Performance Prize
The prize is offered to the best candidate who has excelled in a subject by
attaining at least a credit mark -70% or above in Technician Examination
Scheme or 60% or above in professional examination scheme.

The following candidates qualify for the prizes in each examination layer:

ACCOUNTING TECHNICIAN LEVEL I

Code and Subject Name Name CR. No. Amount
Tshs.

T.01 – Bookkeeping and Accounts ANOLD MKAHALA 42798 80,000

T.02 –Elements of Business SIRILY LASWAY 43088 80,000

Mathematics and Statistics
*T.03 –Introduction to Information *SIRILY LASWAY 43088 40,000
and Communication Technology
*BRIAN KATESIGWA 43676 40,000

T.04–Business Communication Skills SINAT LASWAY 43907 80,000

ACCOUNTING TECHNICIAN LEVEL II

Code and Subject Name Name CR No. Amount
Tshs.
T.05 – Principles of Accounting and ANGANILE 42573 80,000
Auditing MWAKABANA
T.06 – Principles of Cost Accounting ABEL MAIGA 42389 80,000
and Procurement
T.07 – Elements of Commercial
Knowledge and Taxation ADBDUALAZIZI HUSSENI 41863 80,000
T.08 – Accounting for Public ANGANILE
Sector and Cooperatives MWAKABANA 42573 80,000

*Score Equal marks

130
FOUNDATION LEVEL
Code and Subject Name Name CR No. Amount
Tshs.
A1 – Quantitative Techniques RAPHAEL KOSHUMA 43766 100,000

A2 Business and Management AVELINA LUFURANO 41757 100,000

A3 – Financial Accounting JALENE RWABUYONGA 42304 100,000

A4 – Cost Accounting EUNICE NYIMBI 43707 100,000

A5 – Business Law ALEX MWIGUNE 42054 100,000

A6 – Business Economics JOSEPHAT NGONDE 42966 100,000

INTERMEDIATE LEVEL
Code and Subject Name Name CR No. Amount
Tshs.
B1 – Financial Management LEVINA CHAMI 42111 120,000

B2 – Financial Reporting RAYER NASSORO 43438 120,000

B3 – Auditing Principles and ABUBAKAR ZUBERI 43437 120,000

Practice
B4 – Public Finance and Taxation ABDALLAH JAMALI 27089 120,000

B5 – Performance Management HALBERT URIO 40388 120,000

B6 – Management, Governance JIHAN MAREE 43423 120,000

and Ethics

FINAL LEVEL
Code and Subject Name Name CR No. Amount
Tshs.
C1 – Corporate Reporting AUDREY LAWRENCE 37186 140,000

C2 – Auditing and Assurance Services JACKLINE CHAMLE 41439 140,000

C3 –Business and Corporate AUDREY LAWRENCE 37186 140,000

Finance
C4 – Advanced Taxation AUDREY LAWRENCE 37186 140,000

131
1.3.3 NBAA Best Female Prizes:
In motivating female candidates to work harder in their studies and perform
better in the Board’s examinations, two categories of prizes shall be offered to
female candidates.

1.3.3.1 NBAA Female Prizes:

This prize shall be offered to a female candidate as long as the score in
aggregate in a level is 70% and above in ATEC examinations and 60% and
above in professional examinations.

Code and Subject Name Name CR No. Amount

Tshs.
Accounting Technician Level I MARIM RASHIDI 42800 100,000

Accounting Technician Level II TECLA MSHOTE 42947 100,000

Foundation Level YOLANDA MBOYA 41640 120,000

Intermediate Level LEVINA CHAMI 42111 160,000

Final Level AUDREY LAWRENCE 37186 200,000

1.3.3.2 NBAA Best Graduate Female Prizes

The second category of prize is the Best Graduate Prize which is to be offered to
the female candidates who scores highest marks in aggregate among female
candidates in ATEC II or CPA (T).

The following female candidates qualify for the award:

Level Name CR No. Amount

Tshs.
ATEC GRADUATE TECLA MSHOTE 42947 500,000

CPA (T) GRADUATE AUDREY LAWRENCE 37186 1,000,000

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2.0 PRIZES FROM SPONSORING INSTITUTIONS
In support of the Board’s effort to improve candidates’ examination performance a
number of professional progressive institutions have willingly offered different prizes
for the best performers.

The names of organizations and amounts offered in each examination session are
indicated hereunder:

1 PricewaterhouseCoopers Prizes:
1.1 PricewaterhouseCoopers: Auditing and Assurance Services (C2) Prize Tshs.600,000
1.2 PricewaterhouseCoopers: Best CPA (T) Graduate Prize Tshs.1,000,000
1.3 Best Female CPA (T) Graduate Tshs.500,000
2 Tanna Sreekumar Grant Thornton Prize: Best CPA (T) Graduate Prize Tshs.400,000
3 STANBIC Tanzania Ltd Prize: Best CPA (T) Graduate Prize US$ 100
4 TAC Associates Prize: Auditing and Assurance Services (C2) Prize Tshs.200,000
5 A.I Khatri & Company Prize: Corporate Reporting (C1) Prize Tshs.200,000
6 Ernst & Young Prize:
6.1 Auditing and Assurance Services (C2) Prize Tshs.300,000
6.2 Best CPA (T) Graduate Overall Prize Tshs.100,000
6.3 Best Female CPA (T) Graduate Prize Tshs.100,000

7 IPP Prize: Best CPA (T) Graduate Prize Tshs.200,000

8 Tax Plan Associates Prize: Best Advanced Taxation (C4) Prize Tshs.500,000
9 TIB Development Bank Ltd: International Finance Prizes
1st TIB: Business and Corporate Finance (C3) Prize Tshs.500,000,
2nd TIB: Business and Corporate Finance (C3) Prize Tshs.350,000
3rd TIB: Business and Corporate Finance (C3) Prize &
Tshs.200,000
10 Dar Es Salaam Stock Exchange Prize:
Business and Corporate Finance (C3) Prize Tshs.150,000
11 Deloitte &Touche Prize: Auditing and Assurance Services (C2) Prize Tshs.500,000
12 Capital Markets and Securities Authority Prize: Best Financial Management Tshs.500,000
(B1) Prize
13 KPMG Prize: Best CPA (T) Graduate Prize US$ 100
14 Accountant General’s Office Prizes:
14.1 Best CPA (T) Graduate Overall Prize Tshs.800,000
14.2 Auditing and Assurance Services (C2) Prize Tshs.500,000
14.3 Performance Management (B5) Prize Tshs.500,000
14.4 Best Core Subject Prizes:
14.4.1 Financial Accounting (A3) Prize Tshs.30,000
14.4.2 Cost Accounting (A4) Prize Tshs.30,000
14.4.3 Financial Management (B1) Prize Tshs.50,000
14.4.4 Financial Reporting (B2) Prize Tshs.50,000
14.4.5 Auditing Principles and Practice (B3) Prize Tshs.50,000
14.4.6 Corporate Reporting (C1) Prize Tshs.100,000
14.4.7 Business and Corporate Finance (C3) Prize Tshs.100,000
14.4.8 Advanced Taxation (C4) Prize Tshs.100,000
15 NEXIA SJ Tanzania Accountants & Business Adviser Prize:
15.1 NEXIA SJ Tanzania Accountants & Business Adviser: Best Performance Offer of
Management (B5) Prize Employment

133
15.2 NEXIA SJ Tanzania Accountants & Business Adviser: Best Advanced Taxation Offer of
(C4) Prize Employment
16 Innovex Prizes:
16.1 Innovex Best CPA(T) Graduate Prize Tshs.150,000
16.2 Innovex Best CPA(T) Female Graduate Prize Tshs.150,000
17 Controller and Auditor General’s Office Prizes
17.1 CAG: Auditing and Assurance Services (C2) Prize Tshs.1,000,000
17.2 CAG: Best CPA (T) Graduate Prize Tshs.500,000
18 Peoples Bank of Zanzibar Prize: Best CPA (T) Graduate Prize Tshs.500,000
19 TAA Best Candidates’ Prizes
19.1 TAA Best Two ATEC Candidates Prizes Tshs.100,000
19.2 TAA Best Two CPA (T) Candidates Prizes Tshs.200,000
20 RSM EASTERN AFRICA Prize: Best CPA (T) Graduate Prize Tshs.500,000 &
Employment
21 Watumishi Housing Company Prize
21.1 Overall Best Candidate in ATEC II Level Prize 100,000
21.2 Best Financial Management (B1) Prize 100,000
21.3 Performance Management (B5) Prize 200,000
21.4 Corporate Reporting (C1) Prize 200,000
22 Tanzania Association of Women Certified Accountants Prize
22.1 TAWCA: Best Female CPA (T) Graduate 100,000
23 Green Mark International Prizes
23.1 GMI: Best CPA (T) Graduate Prize 100,000
24 MAZARS WISCON ASSOCIATES PRIZE
24.1 MAZARS WISCON ASSOCIATES: Auditing And Assurance Services (C2) Prize 300,000 &
Employment
24.2 MAZARS WISCON ASSOCIATES: BEST CPA (T) Graduate Prize 400,000 &
Employment
24.3 MAZARS WISCON ASSOCIATES: Best Female CPA (T) Graduate Prize 300,000 &
Employment
25 Bakhresa Group Prize
25.1 Bakhresa Group: Best Level Accounting Technician II Prize 200,000
26 The Hanif and Nooreen Habib Prize Award:
26.1 The Hanif and Nooreen Habib Prize Award: Best Female CPA (T) Graduate Prize 555,000
27 BAKERTILLY TANZANIA PRIZE
27.1 BAKERTILLY TANZANIA 500,000 &
PRIZE: Best Female CPA (T) Graduate Prize Employment
28 UPTAKE BUSINESS RESOURCES
28.1 Best Corporate Reporting (C1) candidate 50,000
28.2 Best Business & Corporate Finance (C3) candidate 50,000
29.0 COVENANT INSTITUTE OF ACCOUNTANCT & TECHNOLOGY
29.1 Overall best candidate in any subject(s) from ATEC I to Intermediate level: 50% scholarship to join
the subsequent stage of NBAA CPA review classes at Covenant Financial Consultants, plus a 50%
scholarship to join certificate in accountancy or business administration at the Institute.
29.2 Overall best candidate in any subject(s) at the Final Level: Ths. 200,000 per each subject passed with
a merit
29.3 Overall best candidate at the Accounting Technician Level 1: Full scholarship to join ATEC II
review classes at the Institute plus a full scholarship to join certificate in accountancy or business
administration at the Institute.

134
 29.4 Overall best candidate at the Accounting Technician Level II: Full scholarship to join Foundation
level review classes at the Institute plus a full scholarship to join certificate in accountancy or ordinary
diploma in accountancy or business administration at the Institute.
29.5 Overall best candidate at the Foundation Level: Full scholarship to join Foundation level review
classes at the Institute plus a full scholarship to join certificate in accountancy or ordinary diploma in
accountancy or business administration at the Institute.
29.6 Overall best candidate at the Intermediate Level: Full scholarship to join Final level review classes at
the Institute plus a full scholarship to join certificate in accountancy or ordinary diploma in accountancy
or business administration at the Institute.
29.7 Overall best CPA candidate: Full scholarship to join NBAA IPSAS Diploma classes

1. PRICEWATERHOUSECOOPERS PRIZES
Name of Prize Name of Winner CR No. Amount
PWC: Auditing and Assurance Services JACKLINE CHAMLE 41439 600,000
(C2) Prize
PWC: Best CPA (T) Graduate Prize
AUDREY LAWRENCE 37186 1,000,000
PWC: Best Female CPA (T) Graduate
AUDREY LAWRENCE 37186 500,000

2. TANNA SREEKUMAR GRANT THORNTON: PRIZES

Name of Prize Name of Winner CR No. Amount
Tanna Sreekumar Grant Thornton:
Best CPA (T) Graduate Prize AUDREY LAWRENCE 37186 400,000

3. STANBIC TANZANIA LIMITED PRIZES

Name of Prize Name of Winner CR No. Amount
Stanbic Tanzania Limited: Best CPA
[T] Graduate Prize AUDREY LAWRENCE 37186 US$ 100

4. TAC ASSOCIATES PRIZES

Name of Prize Name of Winner CR No. Amount
TAC ASSOCIATES: Auditing and
Assurance Services (C2) Prize JACKLINE CHAMLE 41439 200,000

5. KHATRI AND COMPANY PRIZES

Name of Prize Name of Winner CR No. Amount
KHATRI AND COMPANY
FINANCIAL: Corporate Reporting (C1) AUDREY LAWRENCE 37186 200,000

6. ERNST & YOUNG PRIZES

Name of Prize Name of Winner CR No. Amount
ERNST & YOUNG: Auditing and JACKLINE CHAMLE 41439
Assurance Services (C2) PRIZE 300,000
ERNST & YOUNG: Best CPA (T) AUDREY LAWRENCE 37186
Graduate Prize 100,000
ERNST & YOUNG: Best CPA (T) AUDREY LAWRENCE 37186
Female GRADUATE PRIZE 100,000

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7. IPP BEST CPA (T) GRADUATE PRIZES
Name of Prize Name of Winner CR No. Amount

IPP: Best CPA (T) Graduate Prize AUDREY LAWRENCE 37186 200,000

8. TAXPLAN ASSOCIATES PRIZES

Name of Prize Name of Winner CR No. Amount
TAXPLAN ASSOCIATES:
Advanced Taxation (C4) Prize AUDREY LAWRENCE 37186 500,000

9. TIB DEVELOPMENT BANK LTD PRIZES

Name of Prize Name of Winner CR No. Amount
TIB Development Bank Ltd: 1. AUDREY LAWRENCE 37186
Business and Corporate Finance 500,000
(C3) Prize
2. MERY SAMWEL 41931 350,000
3. No Candidate Qualified - 200,000
for Awards

10. DAR ES SALAAM STOCK EXCHANGE PRIZES

Name of Prize Name of Winner CR No. Amount
DSE: Business and Corporate AUDREY LAWRENCE 37186 150,000
Finance (C3) Prize

11. DELOITTE & TOUCHE PRIZES

Name of Prize Name of Winner CR No. Amount
DELOITTE & TOUCHE:
Auditing and Assurance JACKLINE CHAMLE 41439 500,000
Services (C2) Prize

12. CAPITAL MARKETS AND SECURITIES AUTHORITY PRIZES

Name of Prize Name of Winner CR No. Amount
CMSA: Best Financial LEVINA CHAMI 42111
Management (B1) Prize 500,000

13. KPMG PRIZES

Name of Prize Name of Winner CR No. Amount
KPMG: Best CPA (T) AUDREY LAWRENCE 37186
Graduate Prize US$100

136
14. ACCOUNTANT GENERAL’S OFFICE PRIZES

The Office of the Accountant General offers special prize awards to candidates with
excellent performance in the Board’s examinations. The awards worth Tshs.2, 440,000
are offered in each examination session.

The conditions of winning the prizes are:

A candidate must obtain an overall pass at a single sitting in the first examination
attempt and must score a credit pass (60%) or above either overall, or in the subject be
awarded a prize in the professional examinations as the case may be.

Candidates winning the prizes for the November, 2022 examinations are as shown
below:

Name of Prize Name of Winner CR No. Amount

AG’S: Best CPA (T) Graduate Prize AUDREY LAWRENCE 37186 800,000

AG’S: Auditing and Assurance Services JACKLINE CHAMLE 41439 500,000

(C2) Prize
AG’S: Best Performance Management HALBERT URIO 40388 500,000
(B5) Prize

AG’S BEST CORE SUBJECT PERFORMANCE PRIZES

Name of Prize Name of Winner CR No. Amount
AG’S: Financial Accounting (A3) Prize JALENE RWABUYONGA 42304 30,000

AG’S: Cost Accounting (A4) Prize EUNICE NYIMBI 43707 30,000

AG’S: Financial Management (B1) LEVENA CHAMI 42111
Prize 50,000
RAYER NASSORO 43438
AG’S: Financial Reporting (B2) Prize 50,000

AG’S: Auditing Principles and Practice ABUBAKAR ZUBERI 43437 50,000

(B3) Prize
AUDREY LAWRENCE 37186
AG’S: Corporate Reporting (C1) Prize 100,000

AG’S: Business and Corporate Finance AUDREY LAWRENCE 37186

(C3) Prize 100,000
AUDREY LAWRENCE 37186
AG’S: Advanced Taxation (C4) Prize 100,000

137
138
15. NEXIA SJ TANZANIA ACCOUNTANTS & BUSINESS ADVISERS PRIZES:
Name of Prize Name of Winner CR No. Amount
NEXIA SJ TANZANIA: Best HALBERT URIO 40388 Employment
Performance Management (B5) Prize
NEXIA SJ TANZANIA: Advanced
Taxation (C4) Prize AUDREY LAWRENCE 37186 Employment

16. INNOVEX PRIZES

Name of Prize Name of Winner CR No. Amount
INNOVEX: Best CPA (T) Graduate
Prize AUDREY LAWRENCE 37186 150,000

INNOVEX: Best Female CPA (T)

Graduate Prize AUDREY LAWRENCE 37186 150,000

17. CONTROLLER AND AUDITOR GENERAL’S OFFICE PRIZES

Name of Prize Name of Winner CR No. Amount
CAG: Auditing and Assurance Services
(C2) Prize JACKLINE CHAMLE 41439 1,000,000

CAG: Best CPA (T) Graduate Prize

AUDREY LAWRENCE 37186 500,000

18. PEOPLE’S BANK OF ZANZIBAR PRIZE

Name of Prize Name of Winner CR No. Amount
PBZ: Best CPA (T) Graduate Prize
AUDREY LAWRENCE 37186 500,000

19. TANZANIA ASSOCIATION OF ACCOUNTANTS PRIZES

Name of Winner CR No. Amount
1. ANGANILE 42573 50,000
TAA: Best Two ATEC Candidate Prize MWAKABANA
2. ABEL MAIGA 42389 50,000

TAA: Best Two CPA (T) Candidate Prize 1. AUDREY 37186 100,000
LAWRENCE

2. No Candidate 100,000
Qualified for Awards

139
20. RSM EASTERN AFRICA PRIZES
Name of Prize Name of Winner CR No. Amount
RSM Eastern Africa: Best CPA (T) AUDREY LAWRENCE 37186 500,000 &
Graduate Prize Employment

21. WATUMISHI HOUSING COMPANY PRIZE

Name of Prize Name of Winner CR No. Amount
WATUMISHI HOUSING CO: Overall ANGANILE 42573 100,000
Best Candidate in ATEC II Level Prize MWAKABANA
WATUMISHI HOUSING CO: Best LEVINA CHAMI 42111 100,000
Financial Management (B1) Prize
WATUMISHI HOUSING CO:
Best Performance Management (B5) Prize HALBERT URIO 40388 200,000
-
WATUMISHI HOUSING CO:
Best corporate Reporting (C1) Prize AUDREY LAWRENCE 37186 200,000

22. TANZANIA ASSOCIATION OF WOMEN CERTIFIED ACCOUNTANTS PRIZE

Name of Prize Name of Winner CR No. Amount

TAWCA: Best Female CPA (T) Graduate AUDREY LAWRENCE 37186 100,000

23. GREEN MARK INTERNATIONAL PRIZES

Name of Prize Name of Winner CR No. Amount

GMI: Best CPA (T) Graduate Prize AUDREY LAWRENCE 37186 100,000

24. MAZARS WISCON ASSOCIATES PRIZE

Name of Prize Name of Winner CR No. Amount
Tshs.
MAZARS WISCON ASSOCIATES: Auditing 300,000 &
and Assurance Services (C2) Prize JACKLINE CHAMLE 41439 Employment

MAZARS WISCON ASSOCIATES: Best 400,000 &

CPA (T) Graduate Prize AUDREY LAWRENCE 37186 Employment

MAZARS WISCON ASSOCIATES: Best 300,000 &

Female CPA (T) Graduate Prize AUDREY LAWRENCE 37186 Employment

25. BAKHRESA GROUP PRIZE

Name of Prize Name of Winner CR No. Amount
Bakhresa Group: Best Level Accounting
Technician II Prize ANGANILE MWAKABANA 42573 200,000

140
26. THE HANIF AND NOOREEN HABIB PRIZE AWARD
Name of Prize Name of Winner CR No. Amount
The Hanif and Nooreen Habib Prize Award:
Best Female CPA (T) Graduate Prize AUDREY LAWRENCE 37186 555,000

27. BAKERTILLY TANZANIA PRIZE

Name of Prize Name of Winner CR No. Amount

BAKERTILLY TANZANIA 500,000 &

PRIZE: Best Female CPA (T) Graduate Prize AUDREY LAWRENCE 37186 Employment

28. UPTAKE BUSINESS RESOURCES PRIZE

Name of Prize Name of Winner CR No. Amount
UPTAKE BUSINESS RESOURCES PRIZE: AUDREY LAWRENCE 37186 50,000
Best Corporate Reporting (C1) candidate
UPTAKE BUSINESS RESOURCES: Best AUDREY LAWRENCE 37186 50,000
Business & Corporate Finance (C3) candidate

29.0 COVENANT INSTITUTE OF ACCOUNTANCY & TECHNOLOGY (CIAT)

Name of prize Name of Winner CR No. Amount/award
CIAT: Overall best As indicated in the CR No. as 50% scholarship to join the subsequent stage of
candidate in any NBAA Subject to indicated NBAA CPA review classes at Covenant Financial
subject(s) from ATEC I subject in item Consultants, plus a 50% scholarship to join certificate
to Intermediate level performance in 1.3.2 in accountancy or business administration at the
item 1.3.2 Institute.
CIAT: Overall best
candidate in any AUDREY 37186 200,000
subject(s) at the Final LAWRENCE
Level
CIAT: Overall best Full scholarship to join ATEC II review classes at the
candidate at the SIRILY LASWAY 43088 Institute plus a full scholarship to join certificate in
Accounting Technician accountancy or business administration at the
Level 1 Institute.
CIAT: Overall best Full scholarship to join Foundation level review
candidate at the ANGANILE 42573 classes at the Institute plus a full scholarship to join
Accounting Technician MWAKABANA certificate in accountancy or ordinary diploma in
Level II accountancy or business administration at the
Institute.
CIAT: Overall best Full scholarship to join Foundation level review
candidate at the JOSEPHAT 42966 classes at the Institute plus a full scholarship to join
Foundation Level NGONDE certificate in accountancy or ordinary diploma in
accountancy or business administration at the
Institute.
CIAT: Overall best Full scholarship to join Final level review classes at
candidate at the LEVINA CHAMI 42111 the Institute plus a full scholarship to join certificate
Intermediate Level in accountancy or ordinary diploma in accountancy or
business administration at the Institute.
CIAT: Overall best AUDREY 37186 Full scholarship to join NBAA IPSAS Diploma
CPA candidate LAWRENCE classes

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 CHAPTER VII

INSTITUTIONAL PERFORMANCE: INTERMEDIATE & FINAL LEVELS AND

CPA (T) BACKGROUND

INTERMEDIATE LEVEL
NO OF % IN THAT OUT OT
S/NO INSTITUTION SAT PASS INST OVERALL
INSTITUTE OF FINANCE
1 MANAGEMENT 710 502 70.7 20.6
2 UNIVERISTY OF DAR ES SALAAM 515 417 81.0 17.1
TANZANIA INSTITUTE OF
3 ACCOUNTANCY 610 342 56.1 14.1
4 MZUMBE UNIVERSITY 406 315 77.6 12.9
5 OTHERS 337 215 63.8 8.8
INSTITUTE OF ACCOUNTANCY
6 ARUSHA 201 127 63.2 5.2
MOSHI COOPERATIVE
7 UNIVERSITY 165 121 73.3 5.0
COLLEGE OF BUSINESS
8 EDUCATION 160 84 52.5 3.5
9 UNIVERSITY OF DODOMA 111 72 64.9 3.0
10 ARDHI UNIVERSITY 88 70 79.5 2.9
ST. AUGUSTINE UNIVERSITY
11 TANZANIA 69 37 53.6 1.5
12 OPEN UNIVERSITY OF TANZANIA 53 24 45.3 1.0
13 ZANZIBAR UNIVERSITY 23 17 73.9 0.7
14 UNIVERSITY OF IRINGA 22 15 68.2 0.6
ST.JOHN UNIVERSITY OF
15 TANZANIA 30 14 46.7 0.6
ZANZIBAR INSTITUTE OF
16 FINANCIAL ADMINISTRATION 14 12 85.7 0.5
17 UNIVERSITY OF ARUSHA 25 11 44.0 0.5
18 TUMAINI UNIVERSITY 13 9 69.2 0.4
19 RUAHA CATHOLIC UNIVERSITY 14 7 50.0 0.3
STEFANO MOSHI MEMORIAL
20 UNIVERSITY COLLEGE 13 7 53.8 0.3
MBEYA UNIVERSITY OF SCIENCE
21 AND TECHNOLOGY 6 5 83.3 0.2
THE STATE UNIVERSITY OF
22 ZANZIBAR 7 4 57.1 0.2
23 NBAA ROUTE 5 2 40.0 0.1
24 SMMUCo 4 2 50.0 0.1
25 TEOFILO KISANJI UNIVERSITY 4 1 25.0 0.0
Total 3605 2432 67.5 100

142
FINAL LEVEL
% IN
NO OF THAT OUT OT
S/NO INSTITUTION SAT PASS INST OVERALL
INSTITUTE OF FINANCE
1 MANAGEMENT 420 243 57.9 22.8
2 UNIVERSITY OF DAR ES SALAAM 296 204 68.9 19.1
3 MZUMBE UNIVERSITY 229 139 60.7 13.0
TANZANIA INSTITUTE OF
4 ACCOUNTANCY 264 115 43.6 10.8
5 OTHERS 138 84 60.9 7.9
INSTITUTE OF ACCOUNTANCY
6 ARUSHA 115 54 47.0 5.1
7 MOSHI COOPERATIVE UNIVERSITY 93 56 66.2 4.6
8 UNIVERSITY OF DODOMA 70 39 55.7 3.7
COLLEGE OF BUSINESS
9 EDUCATION 81 31 38.3 2.9
10 ST.AUGUSTINE UNIVERSITY 51 25 49.0 2.3
11 ARDHI UNIVERSITY 37 24 64.9 2.2
12 UNIVERSITY OF IRINGA 9 6 66.7 0.6
13 ZANZIBAR UNIVERSITY 16 6 37.5 0.6
MBEYA UNIVERSITY OF SCIENCE
14 AND TECHNOLOGY 6 5 83.3 0.5
15 NBAA ROUTE 19 5 26.3 0.5
16 OPEN UNIVERSITY OF TANZANIA 14 5 35.7 0.5
17 TUMAINI UNIVERSITY 8 5 62.5 0.5
18 UNIVERSITY OF ARUSHA 12 5 41.7 0.5
ZANZIBAR INSTITUTE OF FINANCE
19 AND ADMINISTRATION 11 5 45.5 0.5
ST.JOHN UNIVERSITY OF
20 TANZANIA 11 4 36.4 0.4
21 RUAHA CATHOLIC UNIVERSITY 6 3 50.0 0.3
STEFANO MOSHI MEMORIAL
22 UNIVERSITY COLLEGE 10 5 50.0 0.2
23 IRINGA UNIVERSITY COLLEGE 1 1 100.0 0.1
24 TEOFILO KISANJI UNIVERSITY 1 1 100.0 0.1
THE STATE UNIVERSITY OF
25 ZANZIBAR 1 1 100.0 0.1
Total 1,922 1,073 55.8 100

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 CPA (T) BACKGROUND

CPA % IN THAT
S/NO INSTITUTION GRADUATES INST
1 UNIVERSITY OF DAR ES SALAAM 56 23.6
2 INSTITUTE OF FINANCE MANAGEMENT 46 19.4
3 MZUMBE UNIVERSITY 39 16.5
4 OTHERS 15 6.3
5 TANZANIA INSTITUTE OF ACCOUNTANCY 15 6.3
6 INSTITUTE OF ACCOUNTANCY ARUSHA 13 5.5
7 MOSHI COOPERATIVE UNIVERSITY 11 4.3
8 UNIVERSITY OF DODOMA 11 4.3
ST. AUGUSTINE UNIVERSITY TANZANIA 06 3.3
9 ARDHI UNIVERSITY 06 3.3
10 COLLEGE OF BUSINESS EDUCATION 06 3.3
MBEYA UNIVERSITY OF SCIENCE AND
11 TECHNOLOGY 04 1.7
TUMAINI UNIVERSITY DAR ES SALAAM
12 COLLEGE 02 0.8
13 NBAA ROUTE 01 0.4
14 ST.JOHN UNIVERSITY OF TANZANIA 01 0.4
15 TEOFILO KISANJI UNIVERSITY 01 0.4
16 THE STATE UNIVERSITY OF ZANZIBAR 01 0.4
17 UNIVERSITY OF IRINGA 01 0.4
18 ZANZIBAR UNIV. 01 0.4
Total 236 100.00

144