IGCSE Accounting
The IGCSE Accounting syllabus introduces students to accounting theory and concepts, as well as how accounting is used in a variety of modern economic and business contexts. Learners concentrate on the skills of recording, reporting, presenting, and interpreting financial data, laying the groundwork for further study and a future career in the profession.
The Syllabus at a Glance
1. Accounting Fundamentals
1.1 The Purpose of Accounting
- Comprehend and explain the distinction between book-keeping and accounting
- State the purposes of measuring business profit and loss
- Explain the role of accounting in providing information for tracking progress and making decisions
1.2 The Accounting Equation
- Defines assets, liabilities, and owner’s equity.
- The accounting equation should be explained and applied.
2. Data Sources and Data Recording
2.1 The Double Entry Book-Keeping
- The system outlines the double-entry book-keeping system
- Process accounting data using the double-entry system
- Prepare ledger accounts, and post transactions to them
- Balance ledger accounts as needed
- Transfer funds to financial statements
- Recognize the division of the ledger by interpreting ledger accounts and their balances
Candidates are not required to explain or utilize folio columns. Candidates are not required to explain or use three-column running balances.
2.2 Business records
- Recognize and comprehend the following business documents: an invoice, a debit note, a credit note, a statement of account, a cheque, and a receipt.
- Complete business pro forma documents
- Comprehend the use of business documents as information sources: Invoices, credit notes, cheque counterfoil, paying-in slips, receipts, and bank statements are all examples of documents.
Accounting Practises
- Capital expenditures and revenue receipts
- Accounting for non-current asset depreciation and disposal
- Other receivables and payables
- Provision for bad debts and provision for doubtful debts
- Inventory valuation
Financial Accounting Principles
- Profit and loss statements
- Financial position statements
Financial Statement Preparation
- Partnerships of sole proprietors
- Companies with a limited liability
- Societies and clubs
- Accounts for manufacturing
- Records that are incomplete
Interpretation and Analysis
- A list of commonly used ratios
- Accounting ratio interpretation
- Comparison of firms
- Parties with an interest
- Accounting Statement Limitations
- Accounting policies and principles
- Accounting fundamentals
- Accounting principles
Assessment at a Glance
Paper 1 – 1 hour 15 minutes
Multiple Choice – 30%
- 35 marks
- Multiple-choice questions
- Questions will be based on all syllabus content
- Externally assessed
Paper 2 1 hour 45 minutes
Structured Written Paper 70%
- 100 marks
- Questions will be based on all syllabus content
- Externally assessed
The Syllabus Goals
The Cambridge IGCSE Accounting syllabus aims to help students develop:
- Accounting knowledge and understanding for individuals, businesses, non-trading organizations, and society as a whole an understanding of accounting
- Principles, policies, techniques, procedures, and terminology
- Improved numeracy, literacy, communication, inquiry, presentation, and
- Interpretation skills improved accuracy, orderliness, and logical thinking an
- An excellent foundation for advanced study
What are the Benefits of Studying Well in IGCSE Accounting?
- Accounting entails a broad range of knowledge about the legal framework of accounting and auditing, the system of Vietnamese accounting standards and international accounting standards, and the operations surrounding information collection, processing, inspection, and provision. Information, fee estimation, budget allocation, and revenue management
- Create a solid understanding of accounting and how it is used in modern economies and business contexts. IGCSE Accounting is a globally recognized qualification that prepares students for further study.
- The course focuses on the skills of recording, reporting, presenting, and interpreting financial data, providing an excellent foundation for further study and a future career.
