IGCSE Business Studies & Accounting Handbook
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Transcript of IGCSE Business Studies & Accounting Handbook
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|1
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|2
CONTENTS
a) Philosophy statement of Business Education Department -----------------Page 3 b) Cambridge IGCSE- Introduction-----------------Page 3 c) IGCSE Business Studies-----------------Page 3-7
Aims of the course Assessment objectives & skills Course Content
d) IGCSE Accounting-----------------Page 8-11 Aims of the course Assessment objectives & skills Course Content
e) Effective class-room teaching[ DEEP Rule]-----------------Page 12 f) Lesson Structure-----------------Page 13 g) Lesson Plan Template-----------------Page 14 h) Resources-----------------Page 15
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|3
Philosophy Statement of Business Education Department
In support of the academic mission of Fairview International School, we, the members of the Department of
Business Education pledge ourselves to enhance the personality development of each and every individual
entrusted upon us to be endowed with creative learning, ethical awareness, cultural tolerance combined with
civic responsibility amidst culturally diverse background. Hereby, we reassure that we promote educational,
recreational, social, leadership experiences along with other necessary virtues of all walks of life to produce
global business leaders.
Cambridge IGCSE- Introduction
The International General Certificate of Secondary Education (IGCSE) is the world's most popular international
qualification for 14-16 year olds. It develops successful students, giving them excellent preparation for their
next steps in education.
Cambridge IGCSE encourages learner-centred and enquiry-based approaches to learning. It develops learners'
skills in creative thinking, enquiry and problem solving, giving learners excellent preparation for the next stage
in their education. Schools can build a core curriculum, extend it to suit their learners and introduce cross-
curricular perspectives. Clearly defined learning outcomes and content, mean Cambridge IGCSE is compatible
with other curricula and is internationally relevant and sensitive to different needs and cultures.
Cambridge IGCSE develops learner knowledge, understanding and skills in:
• subject content
• applying knowledge and understanding to familiar and new situations
• intellectual enquiry
• flexibility and responsiveness to change
• working and communicating in English
• influencing outcomes
• cultural awareness
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|4
IGCSE Business Studies- Aims of the course
The aims are to enable students to:
• apply their knowledge and critical understanding to current issues and problems in a wide range of
appropriate contexts;
• distinguish between facts and opinions, and evaluate qualitative and quantitative data in order to help
build arguments and make informed judgements;
• appreciate the perspectives of a range of stakeholders in relation to the environment, individuals,
society, government and enterprise;
• develop knowledge and understanding of the major groups and organisations within and outside
business and consider ways in which they are able to influence objectives, decisions and activities;
• develop knowledge and understanding of how the main types of business and commercial institutions
are organised, financed and operated and how their relations with other organisations, consumers,
employees, owners and society are regulated;
• develop skills of numeracy, literacy, enquiry, selection and employment of relevant sources of
information, presentation and interpretation;
• develop an awareness of the nature and significance of innovation and change within the context of
business activities
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|5
Assessment Objectives, Skill Levels and Command Words
Skill Level : 1 KNOWLEDGE & UNDERSTANDING
What this skill means What you need to be able to do
Knowing and remembering facts, figures,
etc.
• Explaining facts, terms, concepts and conventions
• Explaining theories and techniques used in business studies
• Describing them accurately and in detail
• Using them appropriately
Command words which test this skill include:
Describe…., State…., List….., Outline….., What is….., Give……., Identify………., Name………
Skill Level : 2 APPLICATION
Being able to apply a range of knowledge
and understanding to particular business
problems and issues
• Showing which terms, concepts, facts, or conventions apply to a
particular business problem or situation
• Answering the question from the point of view of the business itself
Command words which test this skill include: Explain…., Why……………, Calculate……….., Show……, Use……………, Give an
example of…………….., How………….
Skill Level : 3 ANALYSIS
Being able to select, analyze, order and
interpret information
• Selecting information from texts, tables, graphs, diagrams, drawings
• Sorting out this information in order to make sense of it, e.g. this could
involve graphic information provided in a table, or performing
calculations on the selected data
• Identifying patterns in the information provided, e.g. trends in business
performance
• Interpreting what it means, e.g. what problems are outlined in the text
Command words which test this skill include:Discuss…………., Calculate……, Show……………., Identify………., Compare………….,
Use the information in the case/ table…………, Analyse….
Skill Level : 4 EVALUATION
Being able to evaluate • Drawing conclusions about a particular situation
• Justifying a recommended course of action for a business to take
• Giving reasons for particular explanations
• Showing understanding of particular courses of action
• Showing understanding of the consequences of some course of action
Command words which test this skill include: Explain why…, Discuss……………., Justify……, Consider ………, Decide…………,
Which….., Evaluate……………., To what extent….., Do you agree….., Advise…….., Assess……
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|6
Testing Pattern
Paper
Number
How long
and how
many
marks?
What’s in the Paper? What’s the % of the
total examination?
Paper 1 1 hour 45
mins
(100 marks)
Short-answer questions and structured/data
response questions. There will be no choice of
questions
50%
Paper 2 1 hour 45
mins
(100 marks)
You will be presented with a business situation or
problem, and asked to answer questions about it.
There will be no choice of questions.
50%
Business Studies Course Contents
Unit 1: Business & the Environment:
� What is a business?- Inputs/ Outputs/ needs/
wants/ scarcity/ SWOT/PEST
� Adding value
� Primary, secondary and tertiary sectors
� Business growth
� Economies of scale
� Measurement of size.
� Awareness of the national economy.
� Starting a business- factors and problems.
� Private & public sectors
� Business objectives
� Stakeholders
Unit 2: Business structure/ organization and
control:
� Types of business organization- sole trader,
partnerships, private limited company, public
limited company franchise, joint venture,
Multinationals
� Functions of management, simple organizational
charts
� Orgnisation structure, hierarchy, span of control,
chain of command.
� Internal & external communication.
� SWOT/PEST/STEP
� Political, economic, social and technological
factors/ environment.
� Internet/e-commerce
� Exchange rate
� Business / trade cycle[ boom & recession]
� Financial needs
� Sources of funds
� Selection of source of finance-factors to be
considered
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|7
Unit 3: Business Activity to achieve
objectives
• Role of marketing
• Market research
• Presentation & analysis of results
• Market segmentation
• Marketing mix
• Marketing budget
• Marketing strategy.
• Resources to produce goods and services.
• Job, batch and flow production methods.
• Lean production
• Cost classification/ BEP
• Quality control, Productivity.
• Concept & functions of profit.
• Elements of a profit & loss account
• Elements of a balance sheet.
• Accounting ratios
• Working capital
• Financial budgets
• Users of accounting information
Unit 4: People in Business
� Recruitment & selection
� Job description /job specification/ job
advertisements/ interviews/ training methods and
employees’ dismissal.
� Human needs
� Concept of motivation
� Financial & non-financial rewards.
� Management/ leadership styles.
� Work/ functions of trade union Unit 5: Regulating & controlling business activity
� Government intervention in business.
� Location decision
� The consumer
� External costs & benefits
� Exchange rates
� Business cycle
� PEST
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|8
IGCSE Accounting IGCSE Accounting- Introduction
Welcome to Cambridge IGCSE Accounting. Accounting has become an essential part of business life, and the
knowledge and skills that you will learn in your studies will give you a broader and more experienced view of
business life.
Although this course has been specifically written for students studying Accounting for IGCSE, the course can
also be seen as a general introduction to Accounting. It can, therefore, be studied with advantage by students
who are interested in obtaining a grounding in Accounting but who do not wish to take an examination.
Aims of IGCSE Accounting
The aims of the Cambridge IGCSE Accounting syllabus are to enable students to develop:
• knowledge and understanding of the principles and purposes of accounting for individuals, businesses,
non-trading organisations and society as a whole
• an understanding of accounting principles, policies, techniques, procedures and terminology
• improved skills of numeracy, literacy, communication, enquiry, presentation and interpretation
• improved accuracy, orderliness and the ability to think logically
an excellent foundation for advanced study.
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|9
Assessment Objectives
a) Knowledge with understanding
Candidates should be able to:
• demonstrate knowledge and understanding
of facts, terms, principles, policies,
procedures and techniques that are in the
syllabus
• demonstrate understanding of knowledge
through numeracy, literacy, presentation
and interpretation
• apply knowledge and information to various
accounting situations and problems.
Questions testing this assessment objective
often begin with words like define, list, outline,
write up, record, calculate and explain.
a) Analysis
Candidates should be able to:
• select data which is relevant to identified needs
of business
• order, analyse and present information in an
appropriate accounting form.
Questions testing these skills often begin with
words like select, prepare and draw up.
b) Evaluation
Candidates should be able to:
• Develop an ability to interpret and
evaluate accounting information and to
draw reasoned conclusions.
Questions testing these skills often require
written answers and may begin with words
like explain, suggest, advise, comment on,
discuss and compare
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|10
IGCSE Accounting Paper Pattern [0452]
There are two compulsory papers, Paper 1 and Paper 2. Both papers contain questions based on the whole
syllabus. Candidates receive grades from A to G.
Paper Duration Weighting
Paper 1
This is a structured question paper with 8–12 multiple choice items
and short-answer questions. There are usually between 4 and 5
questions based on topics from the whole of the syllabus. All
questions are compulsory, and candidates answer on the question
paper. There are 120 marks for this paper.
1 ¾ hours 50 %
Paper2
This is a structured question paper. There are usually 4 to 6
questions based on topics from the whole of the syllabus. All
questions are compulsory, and candidates answer on the question
paper. There are 120 marks for this paper.
1 ¾ hours 50 %
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|11
IGCSE Accounting Course Content
1) The purpose of accounting
2) Sources and recording of data
a) The double entry system of book-
keeping
b) Business documents
c) Books of prime entry
d) The ledger
3) Verification of accounting records
a) The trial balance
b) Correction of errors
c) Bank reconciliation
d) Control accounts
4) Accounting procedures
a) Capital & revenue expenditures and
receipts
b) Accounting for depreciation
c) Accrued & prepaid
d) Bad debts & provision for doubtful
debts.
e) Valuation of inventory.
5) Principles of financial statements
a) Income statements
b) Balance sheets
6) Preparation of financial statements
a) Sole traders
b) Partnerships
c) Limited liability companies
d) Clubs & societies
e) Manufacturing accounts
f) Incomplete records
7) Analysis & interpretation
a) Accounting ratios
b) Interpretations
c) Inter-firm comparison
d) Interested parties
e) Limitations of accounting statements.
8) Accounting principles and policies
a) Accounting principles
b) Accounting policies
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|12
Design Execute
Evaluate Probe
Lecture
Demonstration
Experiment
Oral
Written Performance
Analysis
Scheme of work
Term plan
Lesson plan
Unit plan
Learning
outcomes/objectives/ skill
levels/command
words/resources & activities
Work sheet/review sheet/
case study/group activity/
question & answer
Remedial lessons/identify
the lack of specific skill level
Observation/ home work/
weekly/monthly tests
Effective Classroom Teaching
Design/Execute/Evaluate/ Probe
[DEEP Rule]
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|13
Lesson Structure
Review of previous lesson
Introduction
Are the learning
outcomes met?
Main part of the lesson
Skill levels/ Learning outcomes/
Sample/Essential questions
Lecture
Audio/video
Exercise/Case study
Group Activity
Recap/homework
Question & Answer
Review Sheets
[Quiz/puzzle]
Asking students to
summarise
Group activity
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|14
Lesson Planner Template
Term: ------------ No. of lessons planned:-------------- a) Any Announcements
b) Home Work
Lesson start date: ------------ End date: ---------------
Topic/s:-------------------------------------------------------------------
Grade: ------------- Subject: ------------- Instructor: ------------
Resources:
Text book/Online:
i. --------------------------------------------
ii. --------------------------------------------------
Learning Outcomes & Skill Levels: By the end of this topic/lesson
students will be able to :
a) Define---------------------------------
b) Draw-----------------------------------
c) Calculate----------------------------
d) Analyse-------------------------------------------
e) Distinguish------------evaluate---------------,etc.
Essential Questions:
a) ----------------------------------------------------------------------------
b) -----------------------------------------------------------------------------
c) --------------------------------------------------------------------------
Key words:
Teaching & Learning:
• Lesson Review:
• Topic introduction:
• Instruction method:
• Activities/Exercises:
• Recap/Summary/Verification:
IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|15
Resources
IGCSE Business Studies
• C. Nuttall, Business Studies: IGCSE, Cambridge University Press.
• K. Borrington & P. Stimpson, IGCSE Business Studies, Hodder Murray
IGCSE Accounting
• Betsy Li and others ,Principles of Accounts, Marshall Cavendish Education, Singapore.
• Coucom, Catherine, IGCSE Accounting, Cambridge University Press.
• Coucom, Catherine, IGCSE and O Level Accounting, Cambridge University Press – India.
• Wood, Frank and Sangster, Alan, Business Accounting 1, Prentice Hall.
Online Resources • http://www.bized.co.uk/
• http://www.tutor2u.net/
• http://www.marketingteacher.com/
• http://www.mindtools.com/
• http://www.businessballs.com/
• http://www.bbc.co.uk/
• http://www.s-cool.co.uk/default.asp
• http://www.revision-notes.co.uk/A_Level/Business_Studies/index.html
http://www.quickmba.com/
• http://www.learnmanagement2.com/
• http://www.bloomberg.com/
• http://money.cnn.com/
• http://www.businessmonitor.com
• http://www.forbes.com/
• http://www.cbc.ca/money/
• http://www.times100.co.uk/
• http://www.triplealearning.co.uk/