Al-Samee Campus

Level: Subject: Accounting (7707) .

Complete Syllabus O-Level 2 0 2 3 -26
Complete Syllabus

• The fundamentals of Accounting:

• The purpose of Accounting
• The Accounting equation
• Sources and recording of data:
• The double entry system of book keeping
• Prepare ledgers
• Balancing off ledgers
• Business documents
• Invoice, debit note, credit note, statement of account,
cheque, receipt
• Books of prime entry
• Sales Journal , Sales return Journal
• Purchase Journal , Purchase return Journal
• Cashbook, The Journal
• Trade discount and cash discount

• Verification of accounting records

• The trial balance
• Correction of errors
• Errors which affect balances of trial balance
• Errors which don’t affect balances of trial balance
• Suspense account.
• Verification of accounting records:
• Bank reconciliation statement
▪ Updating cashbook
▪ Preparing bank reconciliation statement
• Control Accounts
▪ Purchase ledger control account
▪ Sales ledger control account
 Al-Samee Campus
Level: Subject: .
Complete Syllabus O-Level 2023-26
Complete Syllabus
• Accounting procedures:
• Capital and revenue expenditures and receipts
• Accounting for depreciation and disposal of non-current assets
• Methods of depreciation
• Ledger accounts and journal entries
• Disposal of fixed assets account
• Other payables and receivables
• Accrued and prepaid expenses
• Accrued and prepaid incomes
• Irrecoverable debts and provision for doubtful debts
• Journal entries for irrecoverable and doubtful debts
• Creating and maintaining provision for doubtful debts
• Valuation of inventory
• Valuation of inventory at lower of cost and net realizable
value.
• Preparation of Financial Statements:
• Sole traders
• Income statement
• Statement of financial position
• Partnerships
• Income statement
• Appropriation Account
• Current and Capital Account
• Statement of financial position
 Al-Samee Campus
Level: Subject: .
Complete Syllabus O-Level 2 0 2 3 - 2 6
Complete Syllabus

• Preparation of Financial Statements:

• Limited Companies
▪ Income statement
▪ Statement of financial position
▪ Statement of Changes in Equity
• Clubs and Societies
▪ Receipt and payment account
▪ Income and expenditure account
▪ Statement of financial position
• Manufacturing accounts
▪ Prime Cost
▪ Factory cost of production
▪ Statement of Financial position
• Incomplete records
▪ Statement of Affairs

• Analysis and interpretation:

• Calculation and understanding of accounting ratios
• Interpretation of accounting ratios
• Inter-firm comparison
• Interested parties
• Limitations of accounting statements
• Accounting principles and policies:
• Accounting principles
• Accounting policies

Level:
Complete Syllabus O-Level 2 0 2 3 - 2 6
2023-24
• The fundamentals of Accounting:
• Sources and recording of data:
• Verification of accounting records
• Verification of accounting records:
Al-Samee Campus
Subject:
2024-25
• Accounting procedures:
• Preparation of Financial
Statements:
• Sole traders
Income statement
Statement of financial position
• Partnerships
Income statement
Appropriation Account
Current and Capital Account
Statement of financial position
• Limited Companies
• Manufacturing accounts
.
2025-26
Preparation of Financial Statements:
• Clubs and Societies
• Incomplete records
Analysis and interpretation:
Calculation and understanding of accounting ratios
Interpretation of accounting ratios
Inter- firm comparison
Interested parties
Limitations of accounting statements
Accounting principles and policies:
• Accounting principles
• Accounting policies