Edexcel International GCSE in Accounting (4AC0)
In the dynamic world of commerce, accounting serves as the essential language of business. This course invites you to explore the principles of financial management by moving from the basics of recording transactions to the preparation of complete financial summaries. You will gain a solid command of the double-entry bookkeeping system, where you will learn to process source documents and maintain accurate records for various types of organizations. Crucially, you will develop the technical ability to prepare final accounts for sole traders and partnerships while ensuring compliance with standard accounting concepts. By mastering the analysis and interpretation of financial data, you will be equipped to evaluate business performance using key ratios and make sound financial decisions based on real-world evidence.
Core Content Areas
The Edexcel IGCSE Accounting (4AC0) course is a linear qualification covering the full accounting cycle across six primary topic groups.
1. Books of Original Entry
Focuses on the use of journals, sales and purchase day books, and the cash book to record initial business transactions.
2. The Ledger and Trial Balance
Explores the double-entry system, posting to ledger accounts, balancing accounts, and extracting a trial balance.
3. Final Accounts (Sole Trader)
Covers the preparation of Trading and Profit & Loss Accounts and Balance Sheets for sole traders.
4. Adjustments and Incomplete Records
Deals with accruals, prepayments, depreciation, bad debts, and preparing accounts from single-entry records.
5. Specialised Accounts
Includes accounts for non-profit organisations (clubs), manufacturing accounts, partnerships, and limited companies.
6. Analysis and Interpretation
Focuses on calculating and interpreting ratios (profitability, liquidity) to assess the financial performance of a business.
Assessment Structure
The Edexcel IGCSE Accounting (4AC0) qualification is assessed by a single written examination.
- Paper 1 (4AC0/01): This is a 2-hour 30-minute written exam worth 100 marks. It is the sole component of the qualification (100% weighting).
- Section A: Consists of 10 multiple-choice questions designed to test knowledge across the syllabus.
- Section B: Comprises five structured questions involving calculations, preparation of accounts, and short written answers.