Course Content: Seven Main Sections
The syllabus covers fundamental accounting principles, moving from basic concepts to preparing and analysing financial statements.
1. The Fundamentals of Accounting
Focuses on the purpose of accounting and the foundational accounting equation
(Assets = Liabilities + Equity).
2. Sources and Recording of Data
Covers the double-entry system, business documents, and the use of books of prime entry.
3. Verification of Accounting Records
Explores the Trial Balance, correction of errors, bank reconciliation, and control accounts.
4. Accounting Procedures
Focuses on capital vs. revenue items, depreciation, and the disposal of non-current assets.
5. Preparation of Financial Statements
Covers adjustments, and statements for sole traders, partnerships, limited companies, clubs, societies, and manufacturing accounts.
6. Analysis, Interpretation & Principles
The analysis and interpretation of financial statements, alongside the understanding of accounting principles and policies.
Assessment Structure
The qualification is assessed via two papers: a multiple-choice paper (30%) and a structured paper (70%).
Paper 1 (Multiple Choice)
- Weighting: 30% of total grade
- Duration: 1 hour and 15 minutes
- Format: 35 multiple-choice questions
Paper 2 (Structured Written Paper)
- Weighting: 70% of total grade
- Duration: Typically 2 hours (varies by syllabus year)
- Format: Structured, compulsory questions testing problem-solving and application.
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