CSEC POA Syllabus with Specimen Papers

Caribbean Secondary Education Certificate?

SYLLABUS PRINCIPLES OF ACCOUNTS

CXC 10/G/SYLL 17

Effective for examinations from May?June 2019

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: cxcwzo@ Website: 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, for updates on CXC?'s syllabuses.

CXC 10/G/SYLL 17

Principles of Accounts Syllabus

RATIONALE

Accounting is the financial information system that provides relevant information to those who manage or use economic resources or engage in other economic activity. 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 course in Principles of Accounts helps students to develop an understanding of a range of theoretical and practical techniques used in Accounting. It 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 also seeks to instill twenty-first century skills as well as tenets of the Ideal Caribbean Person as articulated by the CARICOM Caribbean Education Task Force (CTF) and adopted by the CARICOM Heads of Government at their 18th Summit. To this end, the syllabus contains objectives, content and teaching, learning and assessment activities intended to nurture and improve students' multiple literacy and critical thinking skills, as well as their management, economic and entrepreneurial skills and positive work ethic. In addition, in keeping with the UNESCO Pillars of Learning, on completion of this course of study students will learn to know, learn to be, learn to do, and to live together.

AIMS

The syllabus aims to:

1. introduce fundamental concepts, practices and purposes of Accounting;

2. encourage the development of critical thinking and entrepreneurial skills;

3. foster attitudes useful in adapting to a dynamic business environment;

4. provide a foundation for further studies in accounting;

5. foster an awareness of the place of technology in Accounting; and,

6. provide an acceptable level of competence for entry-level employment.

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 GENERAL OBJECTIVES

On completion of the syllabus, students should: 1. identify, utilise and interpret financial data that will facilitate proper decision-making by users

of accounting information; 2. appreciate the use of accounting practices as a tool for efficient business management; 3. develop critical thinking, problem-solving, and entrepreneurial skills; 4. appreciate the importance of ethical behaviour and accountability in both public and private

organisations; 5. develop an awareness of the role and impact of technology in Accounting; and, 6. acquire knowledge and skills appropriate for entry-level employment or further studies.

SKILLS AND ABILITIES TO BE ASSESSED

The assessment will test the following skills and abilities:

1. Literacy and Numeracy/Communication

(a) use jargon of the field, formulae, form and style relevant to the field, English;

(b) recall, select, and use business-related theories, principles, concepts and methods; and,

(c) develop reasoned expositions on theories and policies used in Accounting.

2. Critical thinking and problem-solving

-

identify and analyse problems and formulate solutions.

3. Interpretation

-

interpret data and draw logical conclusions.

4. Research and statistics

(a) gathering relevant data; and,

(b) using appropriate strategies to present them.

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 ORGANISATION OF THE SYLLABUS

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, COOPERATIVES

AND NON-PROFIT ORGANISATIONS

SECTION 10

-

MANUFACTURING AND INVENTORY CONTROL

SECTION 11

-

ACCOUNTING FOR THE ENTREPRENEUR

RECOMMENDED TEACHING APPROACHES

To facilitate students' attainment of the objectives of this syllabus, teachers are advised to note the guidelines listed below.

1. The syllabus provides students with a grounding in fundamental concepts, practices and skills of Accounting. The major focus of the syllabus, however, is on the application of these concepts, practices and skills to aid the understanding of issues and problems both at the global and regional levels.

2. Teachers are encouraged to develop lessons using themes that encompass topics from different sections of the syllabus. Therefore, during the delivery of instruction, teachers should highlight those topics across the syllabus that are related, in order to indicate the relevance and relationships.

3. Teachers should use a variety of methodologies, such as role play, case studies, simulations, field trips, games, and presentations by resource personnel. Practical assignments and discussions on topical issues should be used where possible. Throughout the syllabus, an asterisk* is used to highlight specific objectives for which practical activities are imperative.

4. Where tangible and physical examples are not feasible, teachers are advised to utilise the resources on the internet and other electronic media, such as the Notesmaster learning content platform where selected resources are housed to support the syllabus.

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