Cambridge Notes
IGCSE
Accounting
Topic 2.2.3

Accounting 2.2.3 Notes — IGCSE

Cambridge IGCSE Accounting (0452) revision notes — topic 2.2.3. Syllabus-aligned key concepts for CAIE exam preparation.

1. The fundamentals of accounting

1.1 The purpose of accounting
1.2 The accounting equation

2. Sources and recording of data

2.1 The double entry system of book-keeping
2.2 Business documents
2.3 Books of prime entry

3. Verification of accounting records

3.1 The trial balance
3.2 Correction of errors
3.3 Bank reconciliation
3.4 Control accounts

4. Accounting procedures

4.1 Capital and revenue expenditure and receipts
4.2 Accounting for depreciation and disposal of non-current assets
4.3 Other payables and other receivables
4.4 Irrecoverable debts and provision for doubtful debts
4.5 Valuation of inventory

5. Preparation of financial statements

5.1 Sole traders
5.2 Partnerships
5.3 Limited companies
5.4 Clubs and societies
5.5 Manufacturing accounts
5.6 Incomplete records

6. Analysis and interpretation

6.1 Calculation and understanding of accounting ratios
6.2 Interpretation of accounting ratios
6.3 Inter-firm comparison
6.4 Interested parties
6.5 Limitations of accounting statements

7. Accounting principles and policies

7.1 Accounting principles
7.2 Accounting policies

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