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For O-Level Principles of Accounts, the MOE states:

“Students should be able to:

AO1 Knowledge and Comprehension

Identify and comprehend accounting knowledge appropriate to the syllabus.

AO2 Application

Select and apply accounting knowledge to various accounting situations.

AO3 Analysis and Synthesis

Analyse, interpret, organise and synthesise accounting information.

AO4 Evaluation

Interpret and evaluate accounting information to make judgements and recommendations.

Knowledge and understanding

The syllabus intends for students to develop knowledge and understanding of:

• the general environment that accounting operates in, particularly about the stakeholders, professional ethics, business context and accounting theories
• the accounting information system and the methodology used to collate, record, organise and summarise the information
• the elements of the financial statements, and the practices and procedures applied on them
• the basic financial statements, their preparation and the information they convey
• the basic forms of business entities, and the practices and procedures applied to represent the owner’s or owners’ interests
• the use of financial information and financial ratios for evaluation of profitability, liquidity and inventory management

Skills

The syllabus intends for students to develop the skills of:

• applying the double entry system of recording business transactions
• organising and presenting accounting information in ledger accounts and financial statements
• analysing the effects of accounting transactions on financial statements
• analysing and interpreting financial statements
• evaluating businesses for their profitability, liquidity and inventory management using financial information and ratios”

For A-Level Principles of Accounting, the MOE states:

“Aims

1. Develop an understanding of the concepts, principles and practices of accounting and the ability to apply them in a variety of business and personal situations
2. Develop an understanding of the role of accounting as an information system for monitoring, problem-solving and decision-making in changing economic, social and technological environments
3. Develop a critical approach to analysing and evaluating accounting policies and practices
4. Develop skills of communication, analysis, interpretation and presentation of both qualitative and quantitative accounting information.”