Edexcel IGCSE Accounting specification (4AC1)
Understanding the exam specification is key to doing well in your Edexcel IGCSE Accounting exam. It lays out exactly what you need to learn, how you'll be assessed, and what skills the examiners seek. Whether you're working through the course for the first time or revising for your final exams, the specification helps you stay focused and confident in your preparation.
We've included helpful revision tools to support you in putting the specification into practice. Wherever you're starting from, you'll find everything you need to feel prepared, from the official specification to high-quality resources designed to help you succeed.
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- Written by expert teachers and examiners
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In the next section, you'll find a simplified summary of the official Edexcel IGCSE Accounting specification, along with a breakdown of key topics, assessment structure, and useful study resources. We've also included links to topic-level guides and revision tools to help you put the specification into practice.
Contents
Disclaimer
This page includes a summary of the official Edexcel IGCSE Accounting (4AC1) specification, provided to support your revision. While we've made every effort to ensure accuracy, Save My Exams is not affiliated with the awarding body.
For the most complete and up-to-date information, we strongly recommend consulting the official Edexcel specification PDF.
Specification overview
The Pearson Edexcel International GCSE in Accounting equips students with an understanding of the purpose and application of accounting in business and organisations. It supports learners in making informed financial decisions and assessing financial performance. Through analysis, evaluation, and presentation of accounting information, students develop practical skills aligned with international standards, laying a strong foundation for advanced study and career pathways in accounting and finance:contentReference[oaicite:0]{index=0}.
Subject content breakdown
Topic 1: The accounting environment
- Types of business: public/private sector, sole traders, partnerships
- Stakeholders’ use of financial statements
- Accounting concepts: consistency, prudence, accruals, materiality, money measurement, business entity
- Technology in accounting: benefits, risks, data protection
- Professional ethics and public interest
Topic 2: Introduction to bookkeeping
- Business documentation: invoices, credit notes, remittance advice, etc.
- Books of original entry: sales/purchase day books, cash books, journal
- Ledger accounting: double-entry in nominal, payables, and receivables ledgers
- Capital vs revenue expenditure
- Depreciation: methods, calculations, asset disposal
- Irrecoverable debts and provisions
- Other receivables and payables
Topic 3: Introduction to control processes
- Trial balance: purpose, preparation, limitations
- Control accounts: trade receivables/payables
- Error correction and suspense accounts
- Bank reconciliation: preparation and understanding
Topic 4: The preparation of financial statements
- Income statement and statement of financial position for sole traders
- Partnership accounts: appropriation, capital/current accounts
- Incomplete records: profit/loss estimation, control account techniques
- Accounting ratios: profitability and liquidity interpretation
- Manufacturing accounts: inventories, cost of production
Topic 5: Accounting for end of period adjustments
- Application of accounting concepts
- Depreciation and asset disposal
- Provisions and treatment of irrecoverable debts
- Adjustments for other receivables and payables:contentReference[oaicite:1]{index=1}
Assessment structure
Paper 1: Introduction to Bookkeeping and Accounting (4AC1/01)
- 2 hours, 100 marks
- 66.6% of total qualification
- Covers Topics 1–3
- Section A: multiple choice and short answers
- Section B: five multi-part questions
Paper 2: Financial Statements (4AC1/02)
- 1 hour 15 minutes, 50 marks
- 33.3% of total qualification
- Covers Topics 4–5 and builds on Topics 1–3
Two extended multi-part questions focusing on financial statements
- All assessments are external
- All topics examined in terminal assessment
- AO weightings: Knowledge (35–40%), Application (41–47%), Analysis (17–20%):contentReference[oaicite:2]{index=2}:contentReference[oaicite:3]{index=3}
Key tips for success
Doing well in your Edexcel IGCSE Accounting isn't just about how much you study, but how you study. Here are a few proven tips to help you stay on track
- Start with a clear plan: Break the subject into topics and create a revision schedule that allows enough time for each. Start early to avoid last-minute stress.
- Focus on understanding, not memorising: Use our revision notes to build a strong foundation in each topic, making sure you actually understand the material.
- Practise regularly: Attempt past papers to familiarise yourself with the exam format and timing. Mark your answers to see how close you are to full marks.
- Be strategic with your revision: Use exam questions by topic to focus on weaker areas, and flashcards to reinforce important facts and terminology.
- Learn from mistakes: Whether it's from mock exams or practice questions, spend time reviewing what went wrong and why. This helps prevent repeat mistakes in the real exam.
- Stay balanced: Don't forget to take regular breaks, eat well, and get enough sleep, a healthy routine makes revision much more effective.
With the right approach and consistent practice, you'll build confidence and improve your chances of exam success.
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