Specification points
Edexcel International AS and A level Accounting XAC11/YAC11
120 points in 2 topics, with Edexcel's codes and titles.
Grade boundaries·Edexcel command words
Codes and titles are read by a script from Edexcel's published specification and have not been checked by a person. What each point covers is in the specification itself: Edexcel’s specification.
1 The Accounting System and Costing
- 1.1 Principles of accounting and double entry bookkeeping
- 1.1.1 Role of accounting in recording and communicating information
- 1.1.2 Accounting information as a management aid
- 1.1.3 Transaction recording in books of account
- 1.1.4 Transaction recording in books of prime entry
- 1.1.5 End of period transfers and adjustments
- 1.1.6 Allowance for irrecoverable debts
- 1.1.7 ICT in recording transactions and preparing statements
- 1.1.8 The concepts of going concern, prudence, accruals and consistency
- 1.1.9 Historic cost, materiality, money measurement, realisation and business entity
- 1.1.10 The use of International Accounting Standards (IAS)
- 1.1.11 Capital expenditure and revenue expenditure
- 1.1.12 Accounting treatment of capital and revenue expenditure
- 1.1.13 The causes of depreciation of non-current assets
- 1.1.14 The reasons for charging depreciation on non-current assets
- 1.1.15 Depreciation methods for non-current assets
- 1.1.16 Ledger accounts for non-current assets and provisions of depreciation
- 1.1.17 The effect on profit of different methods of depreciation
- 1.1.18 The effect on profit of a change in the method of depreciation
- 1.1.19 Disposal and disposal accounts for non-current assets
- 1.1.20 Schedule of non-current assets
- 1.2 Control procedures
- 1.2.1 The trial balance
- 1.2.2 The limitations of a trial balance
- 1.2.3 Control accounts as an independent check on receivable and payable ledgers
- 1.2.4 Control accounts for trade receivable and trade payable ledgers
- 1.2.5 Errors affecting and not affecting the trial balance
- 1.2.6 Journal entries to correct errors
- 1.2.7 The suspense account
- 1.2.8 Statements of revised profit
- 1.2.9 Correction of errors in control accounts
- 1.3 Financial statements of organisations
- 1.3.1 Statements of profit or loss
- 1.3.2 Statements of financial position
- 1.3.3 Prepaid or accrued income or expenditure
- 1.3.4 The nature and use of provisions
- 1.3.5 Provisions for depreciation
- 1.3.6 Irrecoverable debts and allowances for irrecoverable debts
- 1.3.7 Departmental statements of profit or loss
- 1.3.8 Financial statements from incomplete records
- 1.3.9 Statements of profit or loss (and other comprehensive income) and appropriation accounts
- 1.3.10 Partners’ current accounts and capital accounts on a fixed or floating basis
- 1.3.11 Partnership agreement and appropriation of profit or loss
- 1.3.12 Partnership Act 1890, Section 24
- 1.3.13 Admission or retirement of a partner and goodwill
- 1.3.14 Receipts and payments accounts
- 1.3.15 Trading accounts of different activities
- 1.3.16 Subscription accounts
- 1.3.17 Long-term/ life membership
- 1.3.18 Losses of inventory or cash
- 1.3.19 Income and expenditure accounts and statements of financial position
- 1.3.20 Manufacturing accounts
- 1.3.21 Allocation and apportionment of costs between products and functions
- 1.3.22 Unrealised profit resulting from goods manufactured
- 1.4 Introduction to costing
- 1.4.1 LIFO, FIFO and net realisable value
- 1.4.2 Inventory valuations using FIFO and LIFO on a perpetual and periodic basis
- 1.4.3 Effect of inventory valuation methods on profit
- 1.4.4 Labour productivity
- 1.4.5 Methods of remuneration, day work, piecework, individual and group bonus schemes
- 1.4.6 Employer cost and employee earnings under different remuneration methods
- 1.4.7 The characteristics of overhead expenses, fixed, semi-fixed, semi-variable and variable
- 1.4.8 Allocation, apportionment and absorption of overheads
- 1.4.9 Apportionment and continuous allotment of service departments
- 1.4.10 Machine hour and labour hour rates per hour
- 1.4.11 Over absorption and under absorption of overheads
- 1.4.12 Characteristics of job costing
- 1.4.13 Job costing of batch production and customer orders
- 1.5 Analysis of accounting statements
- 1.5.1 Ratios
- 1.5.2 Ratios for appraising sole traders and partnerships
- 1.5.3 Ratios for financial projections
- 1.6 Social and ethical accounting
- 1.6.1 Social implications of accounting decisions
- 1.6.2 Significance of non-financial factors
- 1.6.3 Effect of accounting decisions on different stakeholders
- 1.6.4 Ethics in accounting analysis and decision making
2 Corporate and Management Accounting
- 2.1 Limited companies
- 2.1.1 Financial statements in accordance with International Accounting Standards (IAS) 1
- 2.1.2 Auditors, the auditors' report and the directors' report
- 2.1.3 Continuing and discontinued activities; exceptional items
- 2.1.4 Capital reserves and revenue reserves
- 2.1.5 Creation and use of reserves
- 2.1.6 Authorised, issued and called-up share capital
- 2.1.7 Rights issues and bonus issues
- 2.1.8 Share issues, bonus issues and rights issues
- 2.1.9 The features of shares and debentures
- 2.1.10 Capital gearing and its implications
- 2.1.11 The creation and features of provisions
- 2.1.12 Accounting for company purchases and mergers
- 2.1.13 Purchase price of a company
- 2.1.14 Statement of financial position after a purchase or merger
- 2.1.15 The calculation and correct treatment of goodwill
- 2.2 Investment ratios
- 2.2.1 Investment ratios
- 2.3 Statement of cash flows
- 2.3.1 Statement of cash flows in accordance with International Accounting Standard (IAS) 7
- 2.3.2 The importance of liquidity to a company
- 2.4 Budgeting
- 2.4.1 Budgeting for planning, forecasting and control
- 2.4.2 The process of budget preparation
- 2.4.3 Functional budgets
- 2.4.4 Budgeted statement of comprehensive income and statement of financial position
- 2.4.5 Flexible budgets for variations in activity level
- 2.5 Standard costing
- 2.5.1 The purpose of standard costing
- 2.5.2 Establishing a standard costing system
- 2.5.3 Variances
- 2.5.4 Possible reasons for variances
- 2.5.5 Possible interrelationships between variances
- 2.5.6 The principle of management by exception to variance analysis
- 2.6 Project appraisal
- 2.6.1 Discounted capital investment appraisal methods
- 2.6.2 Non-discounted investment appraisal methods
- 2.7 Break-even analysis
- 2.7.1 Calculation of fixed, semi-fixed, semi-variable, variable costs, selling price and net profit
- 2.7.2 Contribution, break-even point and margin of safety
- 2.7.3 Graphical representation of break-even analysis