CSEC Principles of Accounts ccountsfccounts ccountsf

Caribbean Examinations Council

plesofAc CSEC? untsPrinc Principles

of Accounts

uAencsctosofPuArncicntso SYLLABUS SPECIMEN PAPER MARK SCHEME SUBJECT REPORTS

Macmillan Education 4 Crinan Street, London, N1 9XW A division of Macmillan Publishers Limited Companies and representatives throughout the world

macmillan-

ISBN 978-0-230-48209-8 ? Caribbean Examinations Council (CXC?) 2015 cxc-

The author has asserted their right to be identified as the author of this work in accordance with the Copyright, Design and Patents Act 1988.

First published 2014 This revised version published 2015

Permission to copy The material in this book is copyright. However, the publisher grants permission for copies to be made without fee. Individuals may make copies for their own use or for use by classes of which they are in charge; institutions may make copies for use within and by the staff and students of that institution. For copying in any other circumstances, prior permission in writing must be obtained from Macmillan Publishers Limited. Under no circumstances may the material in this book be used, in part or in its entirety, for commercial gain. It must not be sold in any format.

Designed by Macmillan Publishers Limited Cover design by Macmillan Publishers Limited and Red Giraffe

CSEC? Principles of Accounts Free Resources

LIST OF CONTENTS

CSEC? Principles of Accounts Syllabus Extract

4

CSEC? Principles of Accounts Syllabus

5

CSEC? Principles of Accounts Specimen Papers Mark Schemes/Keys

01239010/SPEC2006

43

01239032/SPEC 2006

56

01239020/SPEC

66

01239020/F SPEC 2006

74

1239032/SPEC 2006

84

01239032/SPEC

88

CSEC? Principles of Accounts Subject Reports

January 2004

95

June 2004

103

January 2005

110

June 2006

118

January 2007

127

May/June 2007

137

January 2008

152

May/June 2008

160

January 2009

174

May/June 2009

184

January 2010

197

May/June 2010

207

January 2011

222

May/June 2011

234

January 2012

252

May/June 2012

263

January 2013

278

May/June 2013

291

May/June 2014

306

January 2015

321

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.

The 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 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 in accounting.

The syllabus is arranged in 14 sections consisting of specific objectives and related content.

? Section 1 ? Section 2 ? Section 3 ? Section 4 ? Section 5

Sole-trader ? Section 6 ? Section 7 ? Section 8 ? Section 9 ? Section 10 ? Section 11 ? Section 12 ? Section 13 ? Section 14

Introduction to Principles of Accounts The Classified Balance Sheet Books of Original Entry Ledgers and the Trial Balance The Preparation and Analysis of Financial Statements of the

End of Period Adjustments Control Systems Incomplete Records Accounting for Partnerships Accounting for Corporations (Limited Liability Companies) Accounting for Co-operative Societies Accounting for Non-Trading (Non Profit) Organisations Manufacturing Accounts Payroll Accounting

CARIBBEAN EXAMINATIONS COUNCIL

Caribbean Secondary Education Certificate ? CSEC

PRINCIPLES OF ACCOUNTS SYLLABUS

Effective for examinations from May/June 2008

CXC 10/G/SYLL 06

Published by the Caribbean Examinations Council

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form, or by any means electronic, photocopying, recording or otherwise without prior permission of the author or publisher.

Correspondence related to the syllabus should be addressed to:

The Pro-Registrar Caribbean Examinations Council Caenwood Centre 37 Arnold Road, Kingston 5, Jamaica, W.I.

Telephone: (876) 630-5200 Facsimile Number: (876) 967-4972 E-mail address: cxcwzo@ Website:

Copyright ? 2006, by Caribbean Examinations Council The Garrison, St Michael BB14038, Barbados

CXC 10/G/SYLL 06

ii

Contents

RATIONALE....................................................................................................................................................1 AIMS .................................................................................................................................................................1 GENERAL OBJECTIVES ...............................................................................................................................1 - 2 ORGANIZATION OF THE SYLLABUS.................................................................................................. 2 SUGGESTED TIME-TABLE ALLOCATION ...............................................................................................3 CERTIFICATION AND DEFINITION OF PROFILE DIMENSIONS......................................................3 FORMAT OF THE EXAMINATIONS .........................................................................................................4 - 5 SECTION 1 ? INTRODUCTION TO PRINCIPLES OF ACCOUNTS...................................................6 - 7 SECTION 2 ? THE CLASSIFIED BALANCE SHEET .............................................................................. 8 SECTION 3 ? BOOKS OF ORIGINAL ENTRY .........................................................................................9 - 10 SECTION 4 ? LEDGERS AND THE TRIAL BALANCE...........................................................................11 -12 SECTION 5 ? THE PREPARATION AND ANALYSIS OF FINANCIAL STATEMENTS

OF THE SOLE-TRADER ....................................................................................................13 - 14 SECTION 6 ? END OF PERIOD ADJUSTMENTS....................................................................................15 - 16 SECTION 7 ? CONTROL SYSTEMS...........................................................................................................17 - 18 SECTION 8 ? INCOMPLETE RECORDS...................................................................................................19 SECTION 9 ? ACCOUNTING FOR PARTNERSHIPS.............................................................................20 - 21 SECTION 10 ? ACCOUNTING FOR CORPORATIONS (Limited Liability Companies)....................22 - 23 SECTION 11 ? ACCOUNTING FOR CO-OPERATIVE SOCIETIES ....................................................24 SECTION 12 ? ACCOUNTING FOR NON-TRADING (NON PROFIT) ORGANIZATIONS..........25 SECTION 13 ? MANUFACTURING ACCOUNTS ..................................................................................26

CXC 10/G/SYLL 06

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