Edexcel IGCSE Accounting
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 course is a two-year linear qualification assessed across six main topic areas.
1. The Accounting Cycle
This topic covers the double-entry system, business documents, journals, and the ledger.
2. The Trial Balance and Financial Statements
Explores the preparation of the trial balance, statement of financial position, and statement of comprehensive income.
3. Accounting for Irregular Transactions
Covers topics such as bad debts, depreciation, and accruals and prepayments.
4. Incomplete Records
Deals with the preparation of accounts from incomplete records, including calculating sales, purchases, and profit.
5. Partnerships and Limited Companies
Covers the financial statements for partnerships and the basic principles of accounting for limited companies.
6. The Interpretation of Financial Statements
Focuses on calculating and interpreting accounting ratios to assess profitability, liquidity, and efficiency.
Assessment Structure
The Edexcel IGCSE Accounting qualification is assessed by two written examination papers.
- Paper 1: This is a 2-hour written exam worth 100 marks. It includes short-answer, multiple-choice, and structured questions.
- Paper 2: This is also a 2-hour written exam worth 100 marks. It consists of more complex structured questions and data response questions.
- Both papers are externally assessed and each accounts for 50% of the total International GCSE grade.