Accounting and Financial Statements aims to equip learners with an understanding of financial statements and reporting on a variety of financial accounts.
Main Topics of Study:
Bookkeeping and The Trial Balance
- Posting Ledgers by Double Entry System
- Journal entries
- Suspense accounts
- The extended trial balance
The Adjustments for Construction of Financial Statements
- Calculating profits
- Making financial adjustments
- Income, financial position and Cash flow statements
- Capital transactions
Construction of Accounts in Different Scenarios
- Sole Trader Account
- Partnership accounts
- Company accounts
- Clubs/societies accounts
Analysis and Reporting Accounting Information
- Vertical, Horizontal and Ratio Analysis
- Control accounts
- Incomplete records
Example Candidate Response Booklet
Example Candidate Response (ECR) Booklets are a source of crucial information for Centres and Candidates as they use real candidate responses. We ask Senior Examiners to comment on five or more responses in terms of why the mark was awarded with commentary about how to improve the answer (if necessary).
