Specification points

Cambridge Cambridge O Level Accounting 7707

35 points in 7 topics, with Cambridge's codes and titles.

Grade boundaries·Cambridge command words

Codes and titles are read by a script from Cambridge's published specification and have not been checked by a person. What each point covers is in the specification itself: Cambridge’s specification.

1 The fundamentals of accounting

1.1 The purpose of accounting
1.2 The accounting equation

2 Sources and recording of data

2.1 The double entry system of book-keeping
2.2 Business documents
2.3 Books of prime entry

3 Verification of accounting records

3.1 The trial balance
3.2 Corrections of errors
3.3 Bank reconciliation
3.4 Control accounts

4 Accounting procedures

4.1 Capital and revenue expenditure and receipts
4.2 Accounting for depreciation and disposal of non-current assets
4.3 Other payables and other receivables
4.4 Irrecoverable debts and allowance for irrecoverable debts
4.5 Valuation of inventory

5 Preparation of financial statements

5.1 Sole traders
5.2 Partnerships
5.3 Limited companies
5.4 Manufacturing accounts
5.5 Clubs and societies
5.6 Incomplete records

6 Analysis and interpretation

6.1 Calculation and understanding of accounting ratios
6.2 Interpretation of accounting ratios
6.3 Inter-business comparison
6.4 Interested parties
6.5 Limitations of accounting statements

7 Accounting concepts and modern practice

7.1 Accounting concepts
7.2 Ethical considerations
7.3 Technology and sustainability