The fundamentals of accounting

• The difference between bookkeeping and accounting
• The role of accounting in a business

Sources and recording of data

• The double entry system of book-keeping
• Business documents
• Books of prime entry

Verification of accounting records

• The uses of trial balances, bank reconciliation and control
• accounts as means of verifying accounting records

Accounting procedures

• Capital and revenue expenditure
• Depreciation of non-current assets
• Accruals and prepayments
• Irrecoverable debts and provisions for doubtful debts

Preparation of financial statements

• Preparation of financial statements of sole traders,
• partnerships, limited companies, clubs and societies and
• manufacturing businesses
• Incomplete records

Analysis and interpretation

• Calculation and interpretation of accounting ratios
• The users of accounting information
• Inter-firm comparison
• Interested parties
• Limitation of accounting statements

Accounting principles and policies

• The application of the main accounting principles
• The selection of accounting policies

Paper 1

Type: Multiple-Choice Questions

Duration: 1 hour 15 minutes

Marks: 35

Skills Assessed: Knowledge and understanding Analysis

Details: You answer 35 multiple choice questions taken from anywhere on the syllabus

Percentage of Qualification: 30%

Paper 2

Type: Structured Written Paper

Duration: 1 hour 45 minutes

Marks: 100

Skills Assessed: Knowledge and understanding Analysis Evaluation

Details: You have to answer five questions taken from the entire syllabus

Percentage of Qualification: 70%