British (UK)

The National Curriculum of England (UK) is a very structured curriculum that is designed to meet the needs of all students, stretching brighter children and supporting those who need it through differentiated teaching and learning activities. The curriculum extends and excites all students, whatever their interests or ability. Through it, teachers are able to identify, celebrate and nurture the talents and intelligences of students.

British education is renowned for concerning itself with the development of the whole personality.

In the British education system, students are taught to learn by questioning, problem-solving and creative thinking rather than by the mere retention of facts, hence giving them analytical and creative thinking skills that they will need in the working world. A variety of teaching and assessment methods designed to develop independent thought as well as a mastery of the subject matter is used.

The National Curriculum of England has a clearly defined series of academic and other objectives at every level. mydrasa focuses on Key stage 3 (Year 7-9), Key stage 4 IGCSE/GCSE (Year 10-11) and Key stage 5 A-Level (Year 12-13).

mydrasa added subjects related to Key stage 4 to Year 9, and added subjects related to Key stage 5 to Year 11 for student preparation.

IGCSE stands for the "International General Certificate of Secondary Education". It is a program leading to externally set, marked and certificated examinations from the University of Cambridge. Any student who takes an IGCSE subject will be gaining a qualification that is recognized globally.

The exam boards covered under the International GCSE are Cambridge, Edexcel, and Oxford AQA.

SUbjects

Subjects

Cambridge - Accounting - 0452

  • Overview
  • Chapters

The aims describe the purposes of a course based on this syllabus.

The aims are to enable students to develop:

· knowledge and understanding of the principles and purposes of accounting for individuals, businesses, non-trading organisations and society as a whole

· an understanding of accounting concepts, principles, policies, techniques, procedures and terminology

· improved skills of numeracy, literacy, communication, enquiry, presentation and interpretation

· improved accuracy, orderliness and the ability to think logically

· an excellent foundation for advanced study.

  • 1: The fundamentals of accounting
    1.1: The purpose of accounting
    1.1.1: Understand and explain the difference between book-keeping and accounting
    1.1.2: State the purposes of measuring business profit and loss
    1.1.3: Accounting & providing information for monitoring progress & decision-making
    1.2: The accounting equation
    1.2.1: Explain the meaning of assets, liabilities and owner’s equity
    1.2.2: Explain and apply the accounting equation
  • 2: Sources and recording of data
    2.1: The double entry system of book-keeping
    2.1.1: Outline the double entry system of book-keeping
    2.1.2: Process accounting data using the double entry system
    2.1.3: Prepare ledger accounts
    2.1.4: Post transactions to the ledger accounts
    2.1.5: Balance ledger accounts as required and make transfers to financial statements
    2.1.6: Interpret ledger accounts and their balances
    2.1.7: Recognise the division of the ledger
    2.2: Business documents
    2.2.1: Recognise and understand the business documents
    2.2.2: Complete pro-forma business documents
    2.2.3: Understand the use of business documents as sources of information
    2.3: Books of prime entry
    2.3.1: Explain the advantage of using various books of prime entry
    2.3.2: Explain the use of and process accounting data in the books of prime entry
    2.3.3: Post the ledger entries from the books of prime entry
    2.3.4: Distinguish between and account for trade discount and cash discounts
    2.3.5: Explain the dual function of the cash book
    2.3.6: Explain the use of and record payments and receipts
    2.3.7: Explain and apply the imprest system of petty cash
  • 3: Verification of accounting records
    3.1: The trial balance
    3.1.1: The trial balance is a statement of ledger balances on a particular date
    3.1.2: Outline the uses and limitations of a trial balance
    3.1.3: Prepare a trial balance from a given list of balances
    3.1.4: Identify and explain errors which do not affect the trial balance
    3.2: Correction of errors
    3.2.1: Correct errors by means of journal entries
    3.2.2: The use of a suspense account as temporary measure to balance the trial balance
    3.2.3: Correct errors by means of suspense accounts
    3.2.4: Adjust a profit or loss for an accounting period after the correction of errors
    3.2.5: The effect of correction of errors on a statement of financial position
    3.3: Bank reconciliation
    3.3.1: Understand the use and purpose of a bank statement
    3.3.2: Update the cash book for bank charges
    3.3.3: The purpose of a bank reconciliation statement
    3.4: Control accounts
    3.4.1: Understand the purposes of purchases ledger and sales ledger control accounts
    3.4.2: Books of prime entry as sources of information for the control account entries
    3.4.3: Prepare purchases ledger and sales ledger control accounts
  • 4: Accounting procedures
    4.1: Capital and revenue expenditure and receipts
    4.1.1: Distinguish between and account for capital expenditure and revenue expenditure
    4.1.2: Distinguish between and account for capital receipts and revenue receipts
    4.1.3: Calculate and comment on the effect on profit of incorrect treatment
    4.1.4: Calculate and comment on the effect on asset valuations of incorrect treatment
    4.2: Accounting for depreciation and disposal of non-current assets
    4.2.1: Define depreciation
    4.2.2: Explain the reasons for accounting for depreciation
    4.2.3: The straight-line, reducing balance and revaluation methods of depreciation
    4.2.4: Prepare ledger accounts and journal entries for the provision of depreciation
    4.2.5: Prepare ledger accounts and journal entries for the sale of non-current assets
    4.3: Other payables and other receivables
    4.3.1: Recognise the importance of matching costs and revenues
    4.3.2: Prepare ledger accounts & journal entries to record accrued and prepaid expenses
    4.3.3: Prepare ledger accounts & journal entries to record accrued and prepaid incomes
    4.4: Irrecoverable debts and provision for doubtful debts
    4.4.1: Understand the meaning of irrecoverable debts and recovery of debts written off
    4.4.2: Prepare ledger accounts and journal entries to record irrecoverable debts
    4.4.3: Prepare ledger accounts & journal entries for recovery of debts written off
    4.4.4: Explain the reasons for maintaining a provision for doubtful debts
    4.4.5: The creation of, and adjustments to, a provision for doubtful debts
    4.5: Valuation of inventory
    4.5.1: The valuation of inventory at the lower of cost and net realisable value
    4.5.2: Prepare simple inventory valuation statements
    4.5.3: Recognise the importance of valuation of inventory
  • 5: Preparation of financial statements
    5.1: Sole traders
    5.1.1: Explain the advantages and disadvantages of operating as a sole trader
    5.1.2: The importance of preparing income statements & statements of financial position
    5.1.3: Explain the difference between a trading business and a service business
    5.1.4: Prepare income statements for trading businesses and for service businesses
    5.1.5: Understand that statements of financial position record assets and liabilities
    5.1.6: Recognise and define the content of a statement of financial position
    5.1.7: Understand the inter-relationship of items in a statement of financial position
    5.1.8: Statements of financial position for trading businesses and service businesses
    5.1.9: Make adjustments for provision for depreciation
    5.1.10: Make adjustments for accrued and prepaid expenses and accrued and prepaid income
    5.1.11: Make adjustments for irrecoverable debts and provisions for doubtful debts
    5.1.12: Make adjustments for goods taken by the owner for own use
    5.2: Partnerships
    5.2.1: Explain the advantages and disadvantages of forming a partnership
    5.2.2: Outline the importance and contents of a partnership agreement
    5.2.3: Explain the purpose of an appropriation account
    5.2.4: Income statements, appropriation accounts & statements of financial position
    5.2.5: Record interest on partners’ loans, interest on capital
    5.2.6: Make adjustments to financial statements as detailed in 5.1 (sole traders)
    5.2.7: Explain the uses of and differences between capital and current accounts
    5.2.8: Draw up partners’ capital and current accounts
    5.3: Limited companies
    5.3.1: Explain the advantages and disadvantages of operating as a limited company
    5.3.2: Understand the meaning of the term limited liability
    5.3.3: Understand the meaning of the term equity
    5.3.4: Understand the capital structure of a limited company
    5.3.5: Understand and distinguish between issued, called-up and paid-up share capital
    5.3.6: Understand and distinguish between share capital & loan capital
    5.3.7: Income statements, changes in equity statements & financial position statements
    5.3.8: Make adjustments to financial statements as detailed in 5.1 (sole traders)
    5.4: Clubs and societies
    5.4.1: Receipts and payments accounts and income and expenditure accounts
    5.4.2: Prepare receipts and payments accounts
    5.4.3: Prepare accounts for revenue-generating activities
    5.4.4: Prepare income and expenditure accounts and statements of financial position
    5.4.5: Make adjustments to financial statements as detailed in 5.1 (sole traders)
    5.4.6: Define and calculate the accumulated fund
    5.5: Manufacturing accounts
    5.5.1: Distinguish between direct and indirect costs
    5.5.2: Understand direct material, direct labour, prime cost and factory overheads
    5.5.3: Understand and make adjustments for work in progress
    5.5.4: Calculate factory cost of production
    5.5.5: Manufacturing accounts, income statements & statements of financial position
    5.5.6: Make adjustments to financial statements as detailed in (sole traders)
    5.6: Incomplete records
    5.6.1: Explain the disadvantages of not maintaining a full set of accounting records
    5.6.2: Prepare opening and closing statements of affairs
    5.6.3: Calculate profit or loss for the year from changes in capital over time
    5.6.4: Calculate sales, purchases, gross profit, trade receivables and trade payables
    5.6.5: Income statements & statements of financial position from incomplete records
    5.6.6: Make adjustments to financial statements as detailed in (sole traders)
    5.6.7: Apply the techniques of mark-up, margin and inventory turnover
  • 6: Analysis and interpretation
    6.1: Calculation and understanding of accounting ratios
    6.1.1: Gross margin
    6.1.2: Profit margin
    6.1.3: Return on capital employed (ROCE)
    6.1.4: Current ratio
    6.1.5: Liquid (acid test) ratio
    6.1.6: Rate of inventory turnover (times)
    6.1.7: Trade receivables turnover (days)
    6.1.8: Trade payables turnover (days)
    6.2: Interpretation of accounting ratios
    6.2.1: Simple statements showing comparison of results for different years
    6.2.2: Make recommendations & suggestions for improving profitability & working capital
    6.2.3: The gross margin & the profit margin as an indicator of a business’s efficiency
    6.2.4: Relationship of gross profit & profit for the year to the valuation of inventory
    6.3: Inter-firm comparison
    6.3.1: Understand the problems of inter-firm comparison
    6.3.2: Apply accounting ratios to inter-firm comparison
    6.4: Interested parties
    6.4.1: Owners
    6.4.2: Managers
    6.4.3: Trade payables
    6.4.4: Banks
    6.4.5: Investors
    6.4.6: Club members
    6.4.7: Other interested parties such as governments, tax authorities, etc
    6.5: Limitations of accounting statements
    6.5.1: Historic cost
    6.5.2: Difficulties of definition
    6.5.3: Non-financial aspects
  • 7: Accounting principles and policies
    7.1: Accounting principles
    7.1.1: Matching
    7.1.2: Business entity
    7.1.3: Consistency
    7.1.4: Duality
    7.1.5: Going concern
    7.1.6: The historic Cost
    7.1.7: Materiality
    7.1.8: Money measurement
    7.1.9: Prudence
    7.1.10: Realisation
    7.2: Accounting policies
    7.2.1: Comparability
    7.2.2: Relevance
    7.2.3: Reliability
    7.2.4: Understandability

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