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Cambridge IGCSE Accounting

7.1Accounting concepts

Accounting concepts in Cambridge IGCSE Accounting: what the syllabus expects you to know, the learning objectives and how to practise.
Subtopic41 practice questions2 lessons
Practise this topicAll Accounting topics

Learning objectives

What the syllabus expects you to be able to do.

  1. 7.1.1Explain and apply business entity, consistency, duality, going concern, historic cost, matching, materiality, money measurement, prudence and realisation.

Lessons

  • Applied accounting concepts: matching, prudence, consistency, materiality and realisation

    40 min

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  • Foundation accounting concepts: entity, duality, money measurement, historic cost and going concern

    35 min

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Sample question

A sample question on this topic. Answer it, check it, then read the worked answer.

Accounting concepts: sample question

1 mark

Inventory that cost US$1,800 can now be sold for only US$1,100 because it is damaged. It is valued at US$1,100. Which concept is being applied?

Choose one answer

Turn Accounting concepts into a strength.

Practise with instant marking, see your mastery grow and get a study plan built around your exam date.

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