INTERNATIONAL GCSE - Edexcel
INTERNATIONALGCSEAccounting (9-1)SPECIFICATIONPearson Edexcel International GCSE in Accounting (4AC1)For first teaching September 2017First examination June 2019
INTERNATIONAL GCSEAccountingSPECIFICATIONPearson Edexcel International GCSE in Accounting (4AC1)For first teaching in September 2017First examination June 2019
Edexcel, BTEC and LCCI qualificationsEdexcel, BTEC and LCCI qualifications are awarded by Pearson, the UK’s largest awardingbody offering academic and vocational qualifications that are globally recognised andbenchmarked. For further information, please visit our qualifications website atqualifications.pearson.com. Alternatively, you can get in touch with us using the details onour contact us page at qualifications.pearson.com/contactusAbout PearsonPearson is the world's leading learning company, with 35,000 employees in more than70 countries working to help people of all ages to make measurable progress in their livesthrough learning. We put the learner at the centre of everything we do, because whereverlearning flourishes, so do people. Find out more about how we can help you and yourlearners at qualifications.pearson.comAcknowledgementsThis specification has been produced by Pearson on the basis of consultation with teachers,examiners, consultants and other interested parties. Pearson would like to thank all thosewho contributed their time and expertise to the specification’s development.References to third party material made in this specification are made in good faith. Pearsondoes not endorse, approve or accept responsibility for the content of materials, which maybe subject to change, or any opinions expressed therein. (Material may include textbooks,journals, magazines and other publications and websites.)All information in this specification is correct at time of going to publication.ISBN 978 1 446 93883 6All the material in this publication is copyright Pearson Education Limited 2016
Contents1234About this specification1Using this specification1Qualification aims and objectives2Why choose Edexcel qualifications?3Why choose the Pearson Edexcel International GCSE inAccounting?4Supporting you in planning and implementing this qualification5Qualification at a glance6Paper overview6Accounting content9Specification updates1Course structure10Paper 1: Introduction to Bookkeeping and Accounting11Paper 2: Financial Statements19Assessment information25Assessment requirements25Assessment Objectives and weightings26Relationship of Assessment Objectives to units26Administration and general information27Entries27Access arrangements, reasonable adjustments, specialconsideration and malpractice27Language of assessment27Reasonable adjustments28Special consideration28Further information28Candidate malpractice29Staff/centre malpractice29Awarding and reporting29Student recruitment and progression30Prior learning and other requirements30Progression30
Appendices31Appendix 1: Codes33Appendix 2: Pearson World- class Qualification Design Principles35Appendix 3: Transferable skills37Appendix 4: Glossary39Appendix 5: Glossary of International Accounting Standardsterminology41
1 About this specificationThe Pearson Edexcel International GCSE in Accounting is part of a suite of InternationalGCSE qualifications offered by Pearson.This qualification is not accredited or regulated by any UK regulatory body.This specification includes the following key features.Structure: the Pearson Edexcel International GCSE in Accounting is a linear qualification. Allpapers must be taken at the end of the course of study.Content: features a relevant and engaging body of content that has been updated tocurrent standards.Assessment: comprises written and practical papers, allowing students to demonstrate andapply their knowledge and understanding of accounting.Approach: building a foundation for students wishing to progress to the Pearson EdexcelInternational Advanced Level in Accounting, or equivalent qualifications.Specification updatesThis specification is Issue 1 and is valid for the Edexcel International GCSE examination from2019. If there are any significant changes to the specification, Pearson will inform centres tolet them know. Changes will also be posted on our website.For more information please visit qualifications.pearson.comUsing this specificationThis specification has been designed to give guidance to teachers and to encourage effectivedelivery of the qualification. The following information will help you get the most out of thecontent and guidance.Compulsory content: as a minimum, all the bullet points in the content must be taught.Examples: throughout the content, we have included examples of what could be covered orwhat might support teaching and learning. It is important to note that examples are forillustrative purposes only. We have included examples that are easily understood andrecognised by international centres.Assessments: use a range of material and are not limited to the examples given. Teachersshould deliver the qualification using a good range of examples to support the assessment ofthe content.Depth and breadth of content: teachers should use the full range of content and all theAssessment Objectives given in Section 2: Accounting content.Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 20161
Qualification aims and objectivesThe aims and objectives of this qualification are to enable students to: understand the nature and purpose of accounting in business and organisations, and theprinciples on which accounting is based understand the use of accounting as an aid to business decision making understand the use of accounting as a means of assessing the financial position of anorganisation develop the ability to quantify, to judge relevance and to write clear andconcise explanations.2Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
Why choose Edexcel qualifications?Pearson – the world’s largest education companyEdexcel academic qualifications are from Pearson, the UK’s largest awarding organisation.With over 3.4 million students studying our academic and vocational qualificationsworldwide, we offer internationally-recognised qualifications to schools, colleges andemployers globally.Pearson is recognised as the world’s largest education company. This allows us to driveinnovation and provide comprehensive support for Edexcel students so that they can acquirethe knowledge and skills they need for progression in study, work and life.A heritage you can trustThe background to Pearson becoming the UK’s largest awarding organisation began in 1836,when a royal charter gave the University of London its first powers to conduct exams andconfer degrees on its students. With over 150 years of international education experience,Edexcel qualifications have firm academic foundations, built on the traditions and rigourassociated with Britain’s educational system.Results you can trustPearson’s leading online marking technology has been shown to produce exceptionallyreliable results, demonstrating that Edexcel qualifications maintain the highest standards atevery stage.Developed to Pearson’s world-class qualifications standardsPearson’s world-class standards mean that all Edexcel qualifications are developed to berigorous, demanding, inclusive and empowering. We work collaboratively with a panel ofeducational thought leaders and assessment experts, to ensure that Edexcel qualificationsare globally relevant, represent world-class best practice and maintain a consistentstandard.For more information on the World-Class Qualification Process and Principles please go toAppendix 2 or visit our website: uk.pearson.com/world-class-qualificationsPearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 20163
Why choose the Pearson Edexcel InternationalGCSE in Accounting?We have listened to feedback from all parts of the international subject community. We havemade changes that will engage students and provide opportunities to gain skills that willsupport progression to further study of Accounting, and to enhance future educational oremployment prospects. Accounting qualifications can be particularly valuable for studentswishing to progress into accountancy or financial careers; accountant graduates tend to haveexcellent employment prospects*, allowing many students to work in a range of globalsectors and industries.The content and assessment approach for this qualification has been designed to meetstudents’ needs in the following ways.Two paper assessment – through a new, two paper model which provides learners withbetter opportunities to prepare for and focus on different aspects of Accounting. We will testknowledge, understanding and application in paper 1 'Introduction to Bookkeeping', andfocus the assessment on two realistic case studies in paper 2 'Financial Statements'.Real life application – In paper 2 learners apply their knowledge in realistic case studies toproduce and correct Financial Statements.Clear and straightforward question papers – our question papers are clear and accessible forall students of all ability ranges. Our mark schemes are straightforward, so that theassessment requirements are clear.Broad and deep development of skills – the design of the revised International GCSEaims to extend students’ knowledge by broadening and deepening skills, for examplestudents will develop the ability to: analyse, evaluate and present information in appropriate accounting formats. respond appropriately to a range of question types, including multiple choice, shortanswers, extended responses and questions requiring completion of accounts. develop an understanding of International Accounting Standard terminology – usingInternational Financial Reporting Standards (IFRS) principles, procedures andtechniques.Progression to A Level – International GCSEs enable successful progression onto Level 3qualifications (such as the International A Level in Accounting) and beyond, in Accountingand other subjects. Through our world class qualification development process we haveconsulted international Accounting teaching experts to validate this qualification, andendorse its content, skills development and assessment structure.A glossary of IFRS terms used in this Specification is given in Appendix 5.* Source: 2016 UK Complete University Guide4Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
Supporting you in planning and implementing thisqualificationPlanning Our Getting Started Guide gives you an overview of the Pearson Edexcel InternationalGCSE in Accounting to help you understand the changes to content and assessment, andto help you understand what these changes mean for you and your students. We will provide you with an editable course planner and schemes of work. Our mapping documents highlight key differences between the new and legacyqualifications.Teaching and learning Our skills maps highlight opportunities for students to develop skills that are directly andindirectly assessed. Print and digital learning and teaching resources – promotes any time, any place learningto improve student motivation and encourage new ways of working.Preparing for examsWe also provide a range of resources to help you to prepare your students for theassessments, including: specimen papers to support formative assessments and mock exams examiner commentaries following each examination series.ResultsPlusResultsPlus provides the most detailed analysis available of your students’ examperformance. It can help you to identify the topics and skills where further learning wouldbenefit your students.examWizardA free online resource designed to support students and teachers with exam preparationand assessment.Training eventsIn addition to online training, each year we host a series of training events for teachers todeepen their understanding of our qualifications.Get help and supportOur subject advisor service ensures that you receive help and guidance from us. You cansign up to receive updates at the International GCSE Accounting page atqualifications.pearson.com or email 'sign me up' to teachingbusiness@pearson.comPearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 20165
Qualification at a glancePaper overviewPaper 1: Introduction to Bookkeeping and Accounting Externally assessed Availability: January and June First assessment: June 2019Paper code 4AC1/01*66.6% of the totalInternational GCSEContent summaryStudents must study all of the following topics:Topic 1: The accounting environmentTopic 2: Introduction to bookkeepingTopic 3: Introduction to control processes.Assessment Students are assessed through a 2-hour written examination, set and markedby Pearson. The examination comprises a mixture of multiple-choice, short- and long-answerquestions, and is presented in two sections.Section A Section A comprises 10 1-mark multiple-choice questions and three short-answerquestions worth 5 marks each.Section B Section B comprises five multi-part questions worth 15 marks each. The total number of marks available for the examination paper is 100. The examination addresses all three Assessment Objectives.***See Appendix 1: Codes for a description of this code and all the other codes relevant tothis qualification.**See page 26 for details of the Assessment Objectives.6Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
Paper 2: Financial Statements Externally assessed Availability: January and June First assessment: June 2019Paper code 4AC1/02 *33.3% of the totalInternational GCSEContent summaryStudents must study both of the following topics:Topic 4: The preparation of financial statementsTopic 5: Accounting for end of period adjustments.Assessment Students are assessed through a 1-hour 15-minute written examination, set andmarked by Pearson. The examination comprises two multi-part questions focusing on the preparation,analysis or evaluation of financial statements. The total number of marks available for the examination paper is 50. The examination addresses all three Assessment Objectives.***See Appendix 1: Codes for a description of this code and all the other codes relevant tothis qualification.** See page 26 for details of the Assessment Objectives.Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 20167
8Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
2 Accounting contentTopic 1: The accounting environment13Topic 2: Introduction to bookkeeping15Topic 3: Introduction to control processes17Topic 4: The preparation of financial statements21Topic 5: Accounting for end of period adjustments23Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 20169
Course structure The Pearson Edexcel International GCSE in Accounting comprises five topics:oTopic 1: The accounting environmentoTopic 2: Introduction to bookkeepingoTopic 3: Introduction to control processesoTopic 4: The preparation of financial statementsoTopic 5: Accounting for end of period adjustments Paper 1 will draw exclusively from topics 1-3 Paper 2, which is more holistic in nature, builds on the knowledge, understanding andskills covered in topics 1-3 in addition to the content specified in topics 4 and 5 The Pearson Edexcel International GCSE in Accounting is a linear qualification. All unitsmust be taken in the terminal series at the end of the course of study.10Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
Paper 1: Introduction to Bookkeepingand AccountingIn this paper, students will be assessed on their knowledge, understanding and skills relatedto the fundamental principles of accounting and bookkeeping.The unit is divided into three topics:Topic 1: The accounting environmentTopic 2: Introduction to bookkeepingTopic 3: Introduction to control processes.Paper 1 will draw exclusively from topics 1-3.Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 201611
12Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
Topic 1: The accounting environmentWhat students need to learn:1 Types ofbusinessorganisationa) Explain the characteristics of: public sector organisations private sector organisations sole traders partnerships.b) Explain the connection between stakeholders and a business,identifying the stakeholders’ use of the business’s financialstatements.2 Accountingconcepts3 Use oftechnology inaccountinga) Understand the significance of the following accountingconcepts: consistency prudence accruals materiality money measurement business entity.a) Explain the benefits of using technology within accounting: accounting software spreadsheets.b) Explain the issues regarding the security of data: data loss access confidentiality.c) Explain the methods of protecting data:4 Professionalethics hardware software.a) Describe the principles of professional ethics.b) Apply the principles of professional ethics to accounting rolesand functions.c) Explain the concept of public interest and how it is applied toaccounting roles and functions.Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 201613
14Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
Topic 2: Introduction to bookkeepingWhat students need to learn:1 Businessdocumentationa) Explain the purpose of business documents.b) Prepare the following business documents: purchase order purchase invoice sales invoice credit note statement of account remittance advice petty cash voucher.c) Cash receipt2 Books of originalentry3 Ledgeraccountinga) Explain the purpose of books of original entry.b) Prepare the following books of original entry: purchases day book sales day book purchases returns book sales returns book three-column cash book petty cash book the journal.a) Explain the purpose of the: nominal ledger receivables ledger payables ledger.b) Record transactions in ledger accounts using double entryprinciples.4 Capitalexpenditure andrevenueexpenditurea) Explain the terms:5 Depreciationa) Explain the causes of depreciation. capital expenditure revenue expenditure.b) Explain the importance of the correct treatment of capitalexpenditure and revenue expenditure.b) Distinguish between straight line and reducing balancemethods of depreciation.c) Calculate and record depreciation in the books of account.d) Calculate and record profit or loss of disposal ofnon-current assets.Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 201615
6 Irrecoverabledebtsa) Explain why it is necessary to provide a provision forirrecoverable debts.b) Distinguish between an irrecoverable debt and a provision foran irrecoverable debt.c) Calculate and record irrecoverable debts and provision forirrecoverable debts in the books of account.7 Otherreceivables andpayablesa) Explain why it is necessary to account for other receivablesand payables.b) Distinguish between other receivables and payables.c) Calculate and record other receivables and payables in thebooks of account.16Pearson Edexcel International GCSE in Accounting –Specification – Issue 1 – October 2016 Pearson Education Limited 2016
Topic 3: I
INTERNATIONAL GCSE Accounting . SPECIFICATION Pearson Edexcel International GCSE in Accounting (4AC1) For first teaching in September 2017 First examination June 2019
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