Accounting

Accounting 4AC1 — specification explorer

All 36 specification statements from the official Pearson Edexcel specification, as printed — filter by paper, unit or tier exactly as Pearson Edexcel assesses them.

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36 spec points

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Every statement · 4AC1/02

Assessment homes come from the parsed Pearson specification (content summaries & assessment overviews). Hover a chip for the printed rule. Filters appear only where the qualification has that structure — a linear IGCSE has no unit scope, and only Maths A splits Foundation / Higher tiers.

1. The preparation of financial statements

1. Financial statements of a sole trader

IGCSE_ACCOUNTING:S4.158Prepare income statements to show gross profit and profit for the year.4AC1/02
IGCSE_ACCOUNTING:S4.159Prepare statements of financial position to show assets, liabilities and equity.4AC1/02

2. Financial statements of a partnership

IGCSE_ACCOUNTING:S4.160Understand the nature of a partnership and the reasons for forming one.4AC1/02
IGCSE_ACCOUNTING:S4.161Understand the nature and structure of a limited liability partnership (LLP).4AC1/02
IGCSE_ACCOUNTING:S4.162Apply the provisions of Section 24 of the Partnership Act 1890 in relation to partners’ salaries, division of profit or loss, interest on loans, capital and drawings.4AC1/02
IGCSE_ACCOUNTING:S4.163Understand the nature and purpose of an appropriation account.4AC1/02
IGCSE_ACCOUNTING:S4.164Prepare income statements and appropriation accounts.4AC1/02
IGCSE_ACCOUNTING:S4.165Prepare partners’ current accounts and capital accounts.4AC1/02
IGCSE_ACCOUNTING:S4.166Prepare statements of financial position to include partners’ capital balances and current account balances.4AC1/02

3. Incomplete records

IGCSE_ACCOUNTING:S4.167Calculate the profit for the year by comparing the open and closing equity figures.4AC1/02
IGCSE_ACCOUNTING:S4.168Calculate revenue and purchases using appropriate accounting techniques, to include control accounts.4AC1/02
IGCSE_ACCOUNTING:S4.169Prepare income statements and statements of financial position from incomplete records and information.4AC1/02

4. The calculation and interpretation of accounting ratios

IGCSE_ACCOUNTING:S4.170Explain the difference between profitability and liquidity.4AC1/02
IGCSE_ACCOUNTING:S4.171
Calculate and interpret the following profitability ratios:
- gross profit percentage
- profit for the year as a percentage of revenue
- return on capital employed.
4AC1/02
IGCSE_ACCOUNTING:S4.172
Calculate and interpret the following liquidity ratios:
- current (working capital) ratio
- liquid (acid test) ratio.
4AC1/02

5. Financial statements of a manufacturer

IGCSE_ACCOUNTING:S4.173Understand the difference between the inventories of raw materials, work-in-progress and finished goods.4AC1/02
IGCSE_ACCOUNTING:S4.174Prepare manufacturing accounts to show prime cost, production cost and total cost.4AC1/02

2. Accounting for end of period adjustments.

1. Accounting for end of period adjustments.

IGCSE_ACCOUNTING:S5.027Students are assessed through a 1-hour 15-minute written examination, set and4AC1/02
IGCSE_ACCOUNTING:S5.028The examination comprises two multi-part questions focusing on the preparation,4AC1/02
IGCSE_ACCOUNTING:S5.029The total number of marks available for the examination paper is 50.4AC1/02
IGCSE_ACCOUNTING:S5.030The examination addresses all three Assessment Objectives.**4AC1/02
IGCSE_ACCOUNTING:S5.031The Pearson Edexcel International GCSE in Accounting comprises five topics:4AC1/02
IGCSE_ACCOUNTING:S5.032Paper 1 will draw exclusively from topics 1-34AC1/02
IGCSE_ACCOUNTING:S5.033Paper 2, which is more holistic in nature, builds on the knowledge, understanding and4AC1/02
IGCSE_ACCOUNTING:S5.034The Pearson Edexcel International GCSE in Accounting is a linear qualification. All units4AC1/02

2. Application of accounting concepts

IGCSE_ACCOUNTING:S5.175
Apply the following accounting concepts:
- consistency
- prudence
- accruals
- materiality
- money measurement
- business entity.
4AC1/02

3. Depreciation

IGCSE_ACCOUNTING:S5.176Explain the causes of depreciation.4AC1/02
IGCSE_ACCOUNTING:S5.177Distinguish between straight line and reducing balance methods of depreciation.4AC1/02
IGCSE_ACCOUNTING:S5.178Calculate and record depreciation in the books of account.4AC1/02
IGCSE_ACCOUNTING:S5.179Calculate and record profit or loss of disposal of non-current assets.4AC1/02

4. Irrecoverable debts

IGCSE_ACCOUNTING:S5.180Explain why it is necessary to provide a provision for irrecoverable debts.4AC1/02
IGCSE_ACCOUNTING:S5.181Distinguish between an irrecoverable debt and a provision for an irrecoverable debt.4AC1/02
IGCSE_ACCOUNTING:S5.182Calculate and record irrecoverable debts and provision for irrecoverable debts in the books of account.4AC1/02

5. Other receivables and payables

IGCSE_ACCOUNTING:S5.183Explain why it is necessary to account for other receivables and payables.4AC1/02
IGCSE_ACCOUNTING:S5.184Distinguish between other receivables and payables.4AC1/02
IGCSE_ACCOUNTING:S5.185Calculate and record other receivables and payables in the books of account.4AC1/02