Accounting
KS4 (Years 10 and 11): IGCSE
EDEXCEL 4AC1
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 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.
What will I learn?
The aims and objectives of this qualification are to enable students to:
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understand the nature and purpose of accounting in business and organisations, and the principles on which accounting is based
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understand the use of accounting as an aid to business decision making
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understand the use of accounting as a means of assessing the financial position of an organisation
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develop the ability to quantify, to judge relevance and to write clear and concise explanations.
Curriculum Content
There are two written papers at the end of the course, one of 2 hours and the other of 1 hour 15 minutes.
What sort of homework will I be set?
The homework will focus on improving skills acquired in class. You will have to practice questions from the booklets/books and past papers. These questions will be mostly practical with an element of theory involved. Sometimes you may have to prepare a topic in order to present to your classmates in class.
In year 10 students can also enter the LCCI Level 1 Certificate in Book Keeping (Elementary) (PEARSON ASE20091). This is examined through one written paper of 3 hours graded as pass, merit or distinction.
Sixth Form: International AS and A level
International A level: EDEXCEL WAC11/12
This qualification is suitable for students who work, or who wish to work, in an advanced area of accountancy.
All businesses require suitably skilled people who are able to prepare and maintain accurate accountancy records. They must also be able to produce regular accountancy statements and explain their meaning to management.
This qualification is trusted and valued by employers worldwide and is recognised by universities and professional bodies. This will increase students’ employability in the sector and allow them to continue their academic development by progressing to the Pearson LCCI Level 4 Certificate in Financial Accounting (VRQ) or other professional accountancy qualifications.
Curriculum Content
The course is designed to teach you:
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a knowledge and understanding of the purposes of accounting, of accounting concepts and techniques and to develop the application of those techniques;
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the skills of numeracy, communication, presentation, analysis and evaluation of accounting information;
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the ability to compile accounting reports in good format and to use them as the basis of informed and rational decision-making;
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a capacity for logical and objective thought which will serve as an end in its own right, as well as a basis for further study in accounting.
How is the course assessed?
You will take one written paper, 3 hours long, at the end of Year 12 and two further written papers, each 3 hours long, at the end of Year 13.
What are the GCSE requirements for this course?
Students wishing to study Accounting in the Sixth form require the following:
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A minimum of 5 GCSEs/IGCSEs is required
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A minimum grade C in IGCSE Accounting is highly recommended
Future Career Choices
GCE A level Accounting lays an appropriate foundation for the future study of vocationally related and occupational qualifications such as the Association of Accounting Technicians (AAT) Foundation, Intermediate and Technician levels. This syllabus also provides a useful grounding for foundation examinations offered by the professional bodies such as the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Management Accountants (CIMA) and the Chartered Institute of Public Finance and Accountancy (CIPFA).
Sixth Form: LCCI Qualifications
LONDON CHAMBER of COMMERCE and INDUSTRY (LCCI) Certificates
YEAR 12
PEARSON ASE20093
In Year 12 students also have the opportunity to take the LCCI level 2 Certificate in Book keeping and Accounts (Intermediate)
The Pearson LCCI Level 2 Certificate in Bookkeeping and Accounting (VRQ) consists of one externally examined paper of 3 hours long, graded as Pass/Merit or Distinction.
This qualification is intended for students who wish to gain a thorough foundation in bookkeeping and accounting practices, including double-entry bookkeeping. It is also for students who wish to understand bookkeeping and accounting in accordance with the International Accounting Standards Board (IASB). The qualification is also for those who are working, or who are preparing to work, in an accounting environment maintaining financial records and preparing accounts.
This qualification will give students the opportunity to develop an understanding of the basic principles underlying the recording of business transactions. It will also give students the ability to prepare and interpret accounts for sole traders, partnerships, limited companies, manufacturing and non-profit making organisations.
YEAR 13
PEARSON ASE20104
LCCI Level 3 Certificate in Accounting (Higher)
The Pearson LCCI Level 3 Certificate in Accounting (VRQ) consists of one externally-examined paper of 3 hours long, graded as Pass/Merit or Distinction.
This qualification aims to enable students to develop:
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an understanding of the basic principles underlying the recording of financial transactions
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the ability to prepare and interpret accounts for sole traders, partnerships, limited companies and groups of companies in accordance with basic accounting conventions and current accounting practice
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the ability to apply the principles of decision making.
This qualification is suitable for students who work, or who wish to work, in an advanced area of accountancy.