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Macmillan Education
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ISBN 978-0-230-48209-8
© Caribbean Examinations Council (CXC®) 2020
www.cxc.org
www.cxc-store.com

The author has asserted their right to be identified as the author of this work in accordance with the
Copyright, Design and Patents Act 1988.

First published 2014

This revised edition published 2020

Permission to copy
The material in this book is copyright. However, the publisher grants permission for copies to be
made without fee. Individuals may make copies for their own use or for use by classes of which they
are in charge; institutions may make copies for use within and by the staff and students of that
institution. For copying in any other circumstances, prior permission in writing must be obtained
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in part or in its entirety, for commercial gain. It must not be sold in any format.

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Cover design by Macmillan Education Limited and Red Giraffe
CSEC® Principles of Accounts Free Resources

LIST OF CONTENTS

CSEC® Principles of Accounts Syllabus Extract 4

CSEC® Principles of Accounts Syllabus 5

CSEC® Principles of Accounts Specimen Papers ĂŶĚ

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01239010/SPEC20ϭϳWĂƉĞƌ 60
01239010/SPECϮϬϭϳ<ĞLJ 76
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01239020/SPEC ϮϬϭϳ<ĞLJĂŶĚDĂƌŬ^ĐŚĞŵĞ 101
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ϬϭϮϯϵϬϯϮͬ<^WϮϬϭϳDĂƌŬ^ĐŚĞŵĞ 132

CSEC® Principles of Accounts Subject Reports

2004 (January) Subject Report 134

2004 (June) Subject Report 142
2005 (January) Subject Report 149
2006 (June) Subject Report 157
2007 (January) Subject Report 169
2007 (May/June) Subject Report 176
2008 (January) Subject Report 191
2008 (May/June) Subject Report 199
2009 (January) Subject Report 213
2009 (May/June) Subject Report 223
2010 (January) Subject Report 236
2010 (May/June) Subject Report 246
2011 (January) Subject Report 261
2011 (May/June) Subject Report 2ϳϯ
2012 (January) Subject Report 391
2012 (May/June) Subject Report 302
2013 (January) Subject Report 317
2013 (May/June) Subject Report 330
2014 (May/June) Subject Report 345
2015 (January) Subject Report 360
2015 (May/June) Subject Report 374
2018 (May/June) Subject Report 390
2019 (May/June) Subject Report 404
&6(&ŠPrinciples of Accounts Syllabus Extract

Principles of Accounts is a course of study that provides an introduction to the principles

and techniques that accountants employ in measuring, processing, evaluating and
communicating information about the financial performance and position of a business.

This CSEC® Principles of Accounts Syllabus helps students to develop an understanding

of a range of theoretical and practical techniques used in Accounting. It also helps to
develop skills that should enable them to participate more effectively and responsibly in
today’s business and technology-based environment, to improve the management of
personal financial activities, such as, budgeting, savings and investment. In addition, this
course prepares students for post-secondary and professional studies and entry level
employment in Accounting.

The syllabus is arranged in 11 Sections consisting of specific objectives and related

content.

• Section 1 Accounting as a Profession

• Section 2 Accounting as a System
• Section 3 Books of Original Entry
• Section 4 Ledgers and the Trial Balance
• Section 5 The Preparation and Analysis of Financial Statements of the
Sole Trader
• Section 6 Accounting Adjustments
• Section 7 Control Systems
• Section 8 Accounting for Partnerships
• Section 9 Accounting for Limited Liability Companies Co-Operatives
and Non-Profit Organisations
• Section 10 Manufacturing and Inventory Control
• Section 11 Accounting for the Entrepreneur
 Caribbean Secondary
Education Certificate®

SYLLABUS
PRINCIPLES OF ACCOUNTS
CXC 10/G/SYLL 17

Effective for examinations from May–June 2019

Correspondence related to the syllabus should be addressed to:

The Pro-Registrar
Caribbean Examinations Council
Caenwood Centre
37 Arnold Road, Kingston 5, Jamaica

Telephone Number: + 1 (876) 630-5200

Facsimile Number: + 1 (876) 967-4972
E-mail Address: cxcwzo@cxc.org
Website: www.cxc.org

Copyright ©2017 by Caribbean Examinations Council

Prince Road, Pine Plantation Road, St Michael BB11091

CXC 10/G/SYLL 17
 Content
RATIONALE............................................................................................................................................................ 1

AIMS…. .................................................................................................................................................... 1

GENERAL OBJECTIVES............................................................................................................................ 2

SKILLS AND ABILITIES TO BE ASSESSED ................................................................................................... 2

ORGANISATION OF THE SYLLABUS ........................................................................................................ 3

RECOMMENDED TEACHING APPROACHES ............................................................................................. 3

SUGGESTED TIMETABLE ALLOCATION .................................................................................................... 4

CERTIFICATION ........................................................................................................................................ 4

DEFINITION OF PROFILE DIMENSIONS .................................................................................................... 4

FORMAT OF THE EXAMINATIONS ........................................................................................................... 5

WEIGHTING OF THE EXAMINATION COMPONENTS ............................................................................... 6

REGULATIONS FOR PRIVATE CANDIDATES ............................................................................................. 6

REGULATIONS FOR RESIT CANDIDATES .................................................................................................. 6

REGULATIONS FOR THE JANUARY SITTING ............................................................................................. 6

SECTION 1: ACCOUNTING AS A PROFESSION ......................................................................................... 7

SECTION 2: ACCOUNTING AS A SYSTEM ................................................................................................. 9

SECTION 3: BOOKS OF ORIGINAL ENTRY .............................................................................................. 12

SECTION 4: LEDGERS AND THE TRIAL BALANCE................................................................................... 15

SECTION 5: THE PREPARATION AND ANALYSIS OF FINANCIAL STATEMENTS OF THE SOLE TRADER ... 17

SECTION 6: ACCOUNTING ADJUSTMENTS ............................................................................................ 19

SECTION 7: CONTROL SYSTEMS ............................................................................................................ 21

SECTION 8: ACCOUNTING FOR PARTNERSHIPS .................................................................................... 23

CXC 10/G/SYLL 17