IGCSE Accounting is designed to introduce students to the fundamental concepts and principles of accounting, helping them develop a solid understanding of financial record-keeping and analysis.
In this subject, you will learn how businesses and organisations keep track of their financial transactions and use this information to prepare financial statements. These financial statements provide a snapshot of a company's financial performance and position, which is crucial for decision-making and assessing the overall health of the business.
You will learn how to record various financial transactions in a systematic way using documents like invoices, receipts, and vouchers. These transactions are then organised in books called ledgers.
You'll study three main financial statements:
Statement: This shows the revenues earned and expenses incurred by a business over a specific period, resulting in its net profit or loss.
Balance Sheet: This presents the financial position of a business at a given point in time, listing its assets, liabilities, and equity.
Cash Flow Statement: This details the inflows and outflows of cash in a business, helping to analyse its liquidity and cash management.
You'll learn how to calculate and interpret various financial ratios that allow you to assess a company's performance, profitability, and efficiency.
You'll be introduced to the concept of budgeting, where businesses plan and allocate their financial resources to achieve specific goals and objectives.
You will explore the accounting principles applicable to partnerships and limited companies, understanding how they differ from sole proprietorships.
You'll learn about depreciation, which is the gradual decrease in the value of assets over time, and different methods for valuing inventory.
Overall, IGCSE Edexcel Accounting provides you with practical skills in financial management and helps you gain insights into the world of business finance. It's essential to practise solving accounting problems and work with real-world examples to strengthen your understanding of the subject and prepare effectively for the exam.
At UniHawk, our instructors will provide you with a wide array of resources alongside continual guidance. Here’s a sneak peak for you:
Our focus is ensuring mastery of concepts and not memorization. Our study materials bundle is simple to go over after class, yet concomitantly entails all essential knowledge needed for the subject.
Students require individualised guidance, with constant motivation, clear expectations and deadlines to reach their maximum potential in a subject. Our instructors do so by directing them through personalised study roadmaps, and by fostering accountability and discipline in students through regular engagement and practice.
While students do fall behind in their grade due to gaps in knowledge of concepts, very commonly it’s also due to negligence of the following:
To develop these skills, students require guided practice. Here, a common way is working with past papers. It benefits them immensely when they receive expert insight and strategies while doing past papers.
Helps make students ready for the Exam day. Regular review and evaluation reduces overall stress and boosts confidence. Students thus feel ready than ever to tackle the exam!
| Paper 1:Introduction to Bookkeeping and Accounting | Paper 2:Financial Statements | |
|---|---|---|
| Paper code | 4AC1/01 | 4AC1/02 |
| Exam Cycle | January and June | January and June |
| Topics in exam | Topic 1: The accounting environment Topic 2: Introduction to bookkeeping Topic 3: Introduction to control processes. |
Topic 4: The preparation of financial statements Topic 5: Accounting for end of period adjustments. |
| Time | 2-hours | 1-hour 15-minute |
| Exam format | Section A • Section A comprises 10 1-mark multiple-choice questions and three short-answer questions worth 5 marks each. Section B • Section B comprises five multi-part questions worth 15 marks each. |
The examination comprises two multi-part questions focusing on the preparation, analysis or evaluation of financial statements. |
| Marks | 100 | 50 |
| Weightage | 66.6% of total | 33.3% of total |
| Paper 1: | Paper 2: | |
|---|---|---|
| Exam Cycle | June and November (India only: March also) |
June and November |
| Topics in exam | All | All |
| Time | 1-hour 15-minute | 1-hour 45-minute |
| Exam format | MCQ | Structured written paper |
| Marks | 35 | 100 |
| Weightage | 30% of total | 70% of total |
