CSEC® Principles of Accounts ... - Official CXC Store · PDF fileCSEC® Principles of Accounts Specimen Papers v ... • Section 3 Books of Original Entry ... Specimen Paper, Mark

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ISBN 978-0-230-48209-8© Caribbean Examinations Council (CXC®) 2017 www.cxc.org

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First published 2014

This revised edition published 2017

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CSEC® Principles of Accounts Free Resources

LIST OF CONTENTS

CSEC® Principles of Accounts Syllabus Extract 4

CSEC® Principles of Accounts Syllabus 5

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CSEC® Principles of Accounts Subject Reports

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2004 (June) Subject Report 142


2006 (June) Subject Report 157


2007 (May/June) Subject Report 176







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CSECÈ Principles of Accounts Syllabus Extract Principles of Accounts is a course of study that provides an introduction to the principles

and techniques that accountants employ in measuring, processing, evaluating and

communicating information about the financial performance and position of a business.

This CSEC® Principles of Accounts Syllabus helps students to develop an understanding

of a range of theoretical and practical techniques used in Accounting. It also helps to

develop skills that should enable them to participate more effectively and responsibly in

today’s business and technology-based environment, to improve the management of

personal financial activities, such as, budgeting, savings and investment. In addition, this

course prepares students for post-secondary and professional studies and entry level

employment in Accounting.

The syllabus is arranged in 11 Sections consisting of specific objectives and related

content.

• Section 1 Accounting as a Profession

• Section 2 Accounting as a System

• Section 3 Books of Original Entry

• Section 4 Ledgers and the Trial Balance

• Section 5 The Preparation and Analysis of Financial Statements of the Sole Trader • Section 6 Accounting Adjustments

• Section 7 Control Systems

• Section 8 Accounting for Partnerships

• Section 9 Accounting for Limited Liability Companies Co-Operatives and Non-Profit Organisations

• Section 10 Manufacturing and Inventory Control

• Section 11 Accounting for the Entrepreneur

SYLLABUS

PRINCIPLES OF ACCOUNTS

CXC 10/G/SYLL 17

Caribbean Secondary Education Certificate®

Effective for examinations from May–June 2019

CXC 10/G/SYLL 17

Correspondence related to the syllabus should be addressed to: The Pro-Registrar Caribbean Examinations Council Caenwood Centre 37 Arnold Road, Kingston 5, Jamaica Telephone Number: + 1 (876) 630-5200 Facsimile Number: + 1 (876) 967-4972 E-mail Address: [email protected] Website: www.cxc.org Copyright ©2017 by Caribbean Examinations Council Prince Road, Pine Plantation Road, St Michael BB11091

CXC 10/G/SYLL 17

Content

RATIONALE ............................................................................................................................................................ 1

AIMS…. .................................................................................................................................................... 1

GENERAL OBJECTIVES............................................................................................................................ 2

SKILLS AND ABILITIES TO BE ASSESSED ................................................................................................... 2

ORGANISATION OF THE SYLLABUS ........................................................................................................ 3

RECOMMENDED TEACHING APPROACHES ............................................................................................. 3

SUGGESTED TIMETABLE ALLOCATION .................................................................................................... 4

CERTIFICATION ........................................................................................................................................ 4

DEFINITION OF PROFILE DIMENSIONS .................................................................................................... 4

FORMAT OF THE EXAMINATIONS ........................................................................................................... 5

WEIGHTING OF THE EXAMINATION COMPONENTS ............................................................................... 6

REGULATIONS FOR PRIVATE CANDIDATES ............................................................................................. 6

REGULATIONS FOR RESIT CANDIDATES .................................................................................................. 6

REGULATIONS FOR THE JANUARY SITTING ............................................................................................. 6

SECTION 1: ACCOUNTING AS A PROFESSION ......................................................................................... 7

SECTION 2: ACCOUNTING AS A SYSTEM ................................................................................................. 9

SECTION 3: BOOKS OF ORIGINAL ENTRY .............................................................................................. 12

SECTION 4: LEDGERS AND THE TRIAL BALANCE ................................................................................... 15

SECTION 5: THE PREPARATION AND ANALYSIS OF FINANCIAL STATEMENTS OF THE SOLE TRADER ... 17

SECTION 6: ACCOUNTING ADJUSTMENTS ............................................................................................ 19

SECTION 7: CONTROL SYSTEMS ............................................................................................................ 21

SECTION 8: ACCOUNTING FOR PARTNERSHIPS .................................................................................... 23

CXC 10/G/SYLL 17

SECTION 9: ACCOUNTING FOR LIMITED LIABILITY COMPANIES CO-OPERATIVES AND NON-PROFIT ORGANISATIONS ..................................................................................................... 25

SECTION 10: MANUFACTURING AND INVENTORY CONTROL ............................................................... 27

SECTION 11: ACCOUNTING FOR THE ENTREPRENEUR .......................................................................... 29

GUIDELINES TO TEACHERS FOR THE CONDUCT OF THE SCHOOL-BASED ASSESSMENT IN BUSINESS STUDIES (PRINCIPLES OF ACCOUNTS, PRINCIPLES OF BUSINESS AND ECONOMICS) ...... 31

GUIDELINES TO TEACHERS FOR THE ALTERNATIVE TO SCHOOL-BASED ASSESSMENT ........................ 36

FORMULAE ............................................................................................................................................ 37

GLOSSARY OF ACCOUNTING TERMS ..................................................................................................... 38

GLOSSARY OF EXAMINATION TERMS ................................................................................................... 48

CXC 10/G/SYLL 17

The Principles of Accounts Syllabus (CXC 10/G/SYLL 17) was revised in 2016 for first examination in 2019.

Teaching is expected to commence on the revised syllabus in September 2017.

Revised 1990, 1998, 2006 and 2017

Please check the website, www.cxc.org for updates on CXC®’s syllabuses.

http://www.cxc.org/

Documents

CSEC® Principles of Accounts ... - Official CXC Store · PDF fileCSEC® Principles of Accounts Specimen Papers v ... • Section 3 Books of Original Entry ... Specimen Paper, Mark