Cambridge · Form 5 · Lower 6 · Syllabus 9706
Accounting
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- Financial accounting fundamentals Double entry, books of prime entry, the ledger, the trial balance, correction of errors and suspense accounts, control accounts, bank reconciliation; accounting principles and IAS/IFRS (IAS 1 presentation, IAS 2 inventories, IAS 16 property, plant and equipment, IAS 37 provisions, IAS 10 events after the reporting period).
- Partnerships Appropriation accounts (interest on capital and drawings, salaries, shares of residual profit); capital and current accounts.
- Limited companies and published financial statements Ordinary and preference shares; issued and called-up capital; share premium; revaluation reserve; retained earnings; general reserve; bonus and rights issues; redemption of shares and debentures.
- Analysis and interpretation of financial statements Comparisons over time and with competitors; users' needs (investors, lenders, suppliers); limitations of ratio analysis; the importance of non-financial information.