Module

Skill Area

Focus Areas

1. Fundamentals of Accounting

Understanding key concepts

Explain bookkeeping vs accounting; purposes of accounting; apply accounting equation.

2. Sources and Recording of Data

Bookkeeping systems

Apply the double-entry system; prepare ledger accounts; use business documents; record transactions in books of prime entry.

3. Verification of Records

Accuracy and control

Prepare and amend trial balances; correct errors; prepare bank reconciliation statements; understand control accounts.

4. Accounting Procedures

Adjustments

Distinguish capital vs revenue items; account for depreciation, irrecoverable debts, provisions; value inventories.

5. Financial Statements Preparation

Statement preparation

Prepare income statements and statements of financial position for sole traders, partnerships, limited companies, clubs and societies, and manufacturing accounts.

6. Analysis and Interpretation

Financial analysis

Calculate and interpret accounting ratios; understand uses and limitations of accounting information.

7. Principles and Policies

Concept application

Explain and apply accounting principles and policies; relate to international standards.

Item

Paper 1

Paper 2

Paper Type

Multiple Choice

Structured Written

Duration

1h 15m

1h 45m

Marks

35

100

Weighting

30%

70%

Skills Assessed

Knowledge recall; basic application across topics

Deeper application: recording, preparing accounts, interpreting, evaluating scenarios