IGCSE Business Studies & Accounting Handbook

IGCSE Business Studies and Accounting Handbook School Year 2010-2011 Page|1


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


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- 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


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……


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


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 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.


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


• 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


• 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 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 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


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]


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


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:


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/

IGCSE Business Studies & Accounting Handbook

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