Cambridge Made a Cake Walk: IGCSE Accounting theory- exam style questions and answers

By Jayanthi Ramesh

From Students’ Heart…

• Language: English
• Publisher: Notion Press
• Release date: Feb 15, 2016
• ISBN: 9789352067039

Book preview

Reference

Introduction

Who is this book for?

If you are an IGCSE Accounting student preparing for the Cambridge International Examinations [CIE], or a teacher preparing students for the examinations, you can be assured that the book offers a complete and comprehensive coverage of IGCSE Accounting theory-exam style questions with answers, in simple language.

Why do you need this book?

If you think,

Theory is least important for Accounting exam

It consumes lot of time to read the theory

Even without theory, it is easy to score A grade

YOU ARE WRONG!

Accounting exam consists of considerable amount of theory questions. Even the keenest student is unlikely to read the entire textbook from cover to cover, for theory questions. But neglecting them will result in losing good grade. However, this book will not consume much of your practice time. This is specially compiled keeping in mind the requirements of Cambridge International Examinations.

How does it benefit?

This book is compiled in simple language to enhance the accessibility of the contents to learners whose first language is not English. It is written for students of IGCSE accounting who finds it difficult to go through the entire text book and finally comes up with the question, how do I prepare for my theory questions?. It is compiled after having identified the content and concepts covered in each chapter. It is also based on CIE accounting past papers. So students and teachers could benefit greatly from the exam-style theory questions and answers. The answers are simplified in such a way that students can easily understand in the form of mind maps and recall them without much difficulty.

Best wishes and happy reading!

Chapter 1

Basic terms in Accounting

Book-keeping: It is part of accounting. It involves recording business transactions in the journal, posting to the ledger and balancing the accounts.

Accounting: It begins where book-keeping ends. It involves the actual process of preparing and presenting the accounting information.

Accountancy: It includes accounting and book-keeping. It explains ‘why to do’ and ‘how to do’ of various aspects of accounting.

Transactions: Business activities which involve