IGCSE Accounting Lessons
This accounting course is for students studying and preparing for the IGCSE, GCSE or high school accounting examination.
This accounting lesson is crafted to build strong accounting knowledge in a systematic manner, from core concepts to more challenging topics. Students learn how to apply formulas with deep understanding and perform financial analysis by linking accounting knowledge to real business situations. This build confidence, exam readiness, and long-term success in accounting.
Course Content
01
Learn how to prepare a Trial Balance from a list of account balances at the end of the accounting year.
02
Learn how to calculate Gross Profit and Profit for the Year and prepare the above statement for a sole proprietor trading business with step-by-step guidance.
03
Learn how to calculate the total assets, liabilities, and equity of a sole proprietor, and prepare the above statement with step-by-step guidance.
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04
Bank Reconciliation
Learn how to reconcile your cash at bank with the bank statement, adjust differences, and prepare a bank reconciliation statement step-by-step with examples.
05
Trade Receivable Control Account
Learn the relationship between a trade receivables account and a sales ledger control account, and how to record transactions in the trade receivables control account.
06
Trade Payable Control Account
Learn the relationship between a trade payable account and a purchases ledger control account, and how to record transactions in the trade payable control account.
07
Correction of Errors
Learn to identify the errors and how to correct them using journals, prepare a suspense account and calculate profit figure after adjusting for errors.
08
Capital and Revenue Expenditure & Receipt
Learn how to tell capital and revenue expenditure apart, differentiate capital and revenue receipt, and calculate the effect of an incorrect treatment would have on our profit and asset.
09
Depreciation of Non-Current Assets
Learn what depreciation, accumulated depreciation, and net book value mean, how to record in the ledger accounts and journals, and calculate depreciation using the straight-line, reducing balance and revaluation methods with clear step-by-step examples.
10
Disposal of Non-Current Assets
Learn how to calculate and record in the ledger accounts including the disposal account and journals on the sale of non-current assets, with clear examples.
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11
Prepaid Expense
Learn when expense is recognised and how to adjust for prepaid expense, including amounts brought forward, with guidance on recording in the ledger account and journal.
12
Accrued Expense
Learn when expense is recognised and how to adjust for accrued expense, including amounts brought forward, with guidance on recording in the ledger account and journal.
13
Prepaid Income
Learn when income is recognised and how to adjust for prepaid income, including amounts brought forward, with guidance on recording in the ledger account and journal.
14
Accrued Income
Learn when income is recognised and how to adjust for accrued income, including amounts brought forward, with guidance on recording in the ledger account and journal.
15
Irrecoverable Debts & Provision for Doubtful Debts
Learn how to record irrecoverable debts and debts recovered after being written off. We also learn to calculate, adjust and record the provision of doubtful debts in ledger accounts and journals.
16
Valuation of Inventory
Learn how to value inventory, prepare inventory valuation statement, and understand the impact of an incorrect valuation on profit, asset and equity.
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17
Partnerships
Learn how to prepare the financial statements of a partnership; calculate and account for partners’ loan, interest on capital, interest on drawings, partners’ salary and division of profit or loss between partners. We also learn how to prepare the appropriate account, capital and current accounts.
18
Limited Company
Learn how to tell issued, called-up and paid-up share capital apart; differentiate between preference shares, ordinary shares, general reserves and retained earnings; and to prepare financial statements of a limited company including the statement of changes in equity.
19
Clubs & Societies
Learn how to prepare accounts for revenue generating activities of the club or society, the income and expenditure account and the financial statements of club or society.
20
Manufacturing
Learn how to tell direct and indirect cost apart, differentiate direct material, direct labour, prime cost and factory overheads, adjust for work in progress, and calculate cost of production. We also learn to prepare manufacturing accounts and financial statements of a manufacturing company.
21
Incomplete Records
Learn how to prepare opening and closing statement of affairs; calculate profit from changes in capital; calculate sales, purchases, gross profit, trade receivables, trade payable and other figures through the restructuring of accounts and the application of mark-up, margins and inventory turnover ratios.
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22
Rate of Inventory Turnover
Learn how to calculate and interpret the rate of inventory turnover and analyse a business’ inventory management performance.
23
Trade Receivables Turnover
Learn how to calculate and interpret the trade receivables turnover and analyse a business’ trade receivables management performance.
24
Trade Payables Turnover
Learn how to calculate and interpret the trade payables turnover and analyse a business’ trade payables management performance.
25
Liquidity Analysis
Learn how to calculate and interpret current and quick ratios and analyse a business’ liquidity performance.
26
Profitability Analysis
Learn to calculate and interpret gross profit margin, profit margin and return on capital employed to evaluate a business performance over time and against other businesses.