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Cambridge · Form 4 · Syllabus 7707

Accounting

4 topics4 with notes

Form 4Writing O Level finals this year?Revision mode: every Accounting past paper by year, with marking schemes, and a checklist of the whole syllabus.
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  1. Verification of accounting records Lists ledger balances to check arithmetical accuracy. Errors not revealed: omission, commission, principle, original entry, complete reversal and compensating errors. Notes 1 PDF
  1. Accounting procedures: adjustments Capital expenditure buys or improves non-current assets; revenue expenditure covers running costs. Notes 1 PDF
  1. Preparation of financial statements Income statement (revenue, cost of sales, gross profit, other income, expenses, profit for the year) and statement of financial position (non-current assets, current assets, capital, non-current and current liabilities). Notes 1 PDF
  1. Analysis and interpretation Gross margin = GP ÷ revenue × 100; mark-up = GP ÷ cost of sales × 100; profit margin = profit for the year ÷ revenue × 100; return on capital employed (ROCE) = profit ÷ capital employed × 100. Notes 1 PDF