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ACCOUNTING-Curriculum Outline for IGCSE Accounting

Y10 & Y11-KS4

Cambridge IGCSE Accounting is accepted by universities and employers as proof of an understanding of the theory and concepts of accounting, and the ways in which accounting is used in a variety of modern economic and business contexts.

Candidates focus on the skills of recording, reporting, presenting and interpreting financial information; these form an ideal foundation for further study, and for a future career within the profession.


The aims of the Cambridge IGCSE Accounting syllabus are to enable students to develop:

  • knowledge and understanding of the principles and purposes of accounting for individuals, businesses, non-trading organisations and society as a whole
  • an understanding of accounting principles, policies, techniques, procedures and terminology
  • improved skills of numeracy, literacy, communication, enquiry, presentation and interpretation
  • improved accuracy, orderliness and the ability to think logically
  • an excellent foundation for advanced study.


AO1 Knowledge with understanding

To pass Cambridge IGCSE Accounting, candidates should be able to:

  • demonstrate knowledge and understanding of facts, terms, principles, policies, procedures and techniques that are in the syllabus
  • demonstrate understanding of knowledge through numeracy, literacy, presentation and interpretation
  • apply knowledge and information to various accounting situations and problems.

AO2 Analysis

To pass Cambridge IGCSE Accounting, candidates should be able to:

  • select data which is relevant to identified needs of business
  • order, analyse and present information in an appropriate accounting form.

AO3 Evaluation

To pass Cambridge IGCSE Accounting, candidates should be able to:

  • develop an ability to interpret and evaluate accounting information and to draw reasoned conclusions. 


The purpose of accounting – Sources and recording of data

  • The double entry system of book-keeping
  • Business documents
  • Books of prime (original) entry
  • The ledger

Verification of accounting records

  • The trial balance
  • Correction of errors
  • Bank reconciliation
  • Control accounts

Accounting procedures

  • Capital and revenue expenditure and receipts
  • Accounting for depreciation and disposal of non-current assets
  • Other payables and other receivables
  • Bad debts and provision for doubtful debts
  • Valuation of inventory

Principles of financial statements

  • Income statements
  • Statements of financial position

Preparation of financial statements

  • Sole traders
  • Partnerships
  • Limited liability companies
  • Clubs and societies
  • Manufacturing accounts
  • Incomplete records

Analysis and interpretation

  • Summary of commonly used ratios
  • Interpretation of accounting ratios
  • Inter-firm comparison
  • Interested parties
  • Limitations of accounting statements

Accounting principles and policies

  • Accounting principles
  • Accounting policies


There are two compulsory components: Paper 1 and Paper 2.

Paper 1 (1¾ hours)

This is a structured question paper with 8–12 multiple choice items and short-answer

questions. There are usually between 4 and 5 questions based on topics from the whole of the syllabus. All questions are compulsory, and candidates answer on the question paper. There are 120 marks for this paper.

50% of total marks

Paper 2 (1¾ hours)

This is a structured question paper. There are usually 4 to 6 questions based on topics from the whole of the syllabus. All questions are compulsory, and candidates answer on the  question paper. There are 120 marks for this paper.

50% of total marks

ACCOUNTING-Curriculum Outline for International Advanced Level (IAL) Accounting Y12 & Y13-KS5

The aims of the International Advanced Level in Accounting are to encourage learners to develop:AIMS AND OBJECTIVES

  • an understanding of the importance of effective accounting information systems and an awareness of their limitations through a critical consideration of current financial issues and modern business practices
  • an understanding of the purposes, principles, concepts and techniques of accounting
  • the transferable skills of numeracy, communication, ICT, application, presentation, interpretation, analysis and evaluation in an accounting context
  • an appreciation of the effects of economic, legal, ethical, social, environmental and technological influences on accounting decisions
  • a capacity for methodical and critical thought which would serve as an end in itself, as well as a basis for further study of accounting and other subjects.


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A01 Demonstrate knowledge of accounting

procedures and techniques and an understanding of the principles and concepts upon which they are based







A02 Select and apply knowledge and understanding of accounting procedures, techniques, concepts and principles to a variety of accounting situations.

Present accounting information in an appropriate format.










A03 Analyse financial information, interpret financial

data and information and communicate

reasoning, showing understanding







A04 Evaluate financial and non-financial evidence and

make informed recommendations and decisions

10 15 12.5
100% 100% 100%



IAS Unit 1: The Accounting System and Costing

Unit code WAC11

100% of the total IAS raw marks

50% of the total IAL raw Marks

Content summary

Students will be assessed on their knowledge, understanding and skills of accounting systems and costing.

The unit is divided into six topics:

  1. Principles of accounting and double entry book-keeping
  2. Control procedures
  3. Financial statements of organisations
  4. Introduction to costing
  5. Analysis of accounting statements
  6. Social and ethical accounting.

IA2 Unit 2: Corporate and Management Accounting

Unit code WAC12

100% of the total IA2 raw marks

50% of the total IAL raw marks

Content summary

Students will be assessed on their knowledge and understanding of and skills in corporate and management accounting.

The unit is divided into nine topics:

  1. Limited companies
  2. Investment ratios
  3. Statement of cash flows
  4. Budgeting
  5. Standard costing
  6. Project appraisal
  7. Break-even analysis
  8. Marginal costing and absorption costing
  9. Information and communication technology (ICT) in accounting.


  • Examination length: 3 hours
  • Section A: Two compulsory 55-mark, multi-part questions based on given data. Total marks of section A: 110 marks
  • Section B: Three optional 30-mark, multi-part questions from a choice of four. Total marks of section B: 90 marks
  • Marks allocated in Unit 1: 200 marks

Marks allocated in Unit 2: 200 marks


It is the mark of an educated mind to be able to entertain a thought without accepting it