Singapore · MOE Syllabus Outcomes
Secondary 3 Principles of Accounts.
The Secondary 3 Principles of Accounts (POA) curriculum introduces students to the fundamental principles and concepts of accounting. Students will develop an understanding of the role of accounting in providing information for monitoring business performance and supporting decision-making.
01Role of Accounting and the Accounting Information System
This unit explores the purpose of accounting, the accounting equation, and the double-entry system used to record business transactions.
Students explore the purpose of accounting and identify the various internal and external stakeholders who rely on accounting information. They will understand the ethical values required in the accounting profession.
This topic introduces the fundamental accounting equation and the five elements of accounting. Students learn how business transactions affect the accounting equation.
Students examine the flow of information from source documents to books of prime entry. They will learn to record transactions in journals and cash books.
This topic covers the principles of the double-entry system and the posting of journal entries to ledger accounts. Students will practice balancing ledger accounts at the end of a period.
02Accounting for Cash and Trade Receivables
Students will learn the internal controls over cash, the bank reconciliation process, and the accounting treatment for trade receivables.
Students learn the internal controls over cash and the recording of cash transactions. They will understand the importance of maintaining accurate cash records.
This topic introduces the bank reconciliation process to identify discrepancies between the cash book and the bank statement. Students will prepare bank reconciliation statements.
Students explore the accounting treatment for trade receivables, including the allowance for impairment of trade receivables. They will learn to record bad debts and recovery of bad debts.
03Accounting for Inventory and Trade Payables
This unit covers the valuation and recording of inventory, the management of trade payables, and the correction of accounting errors.
This topic covers the recording of inventory using the perpetual inventory system and the valuation of inventory at the lower of cost and net realisable value.
Students learn to account for trade payables and other current liabilities. They will understand the impact of credit purchases on the business's liquidity.
Students identify different types of accounting errors and learn how to correct them using journal entries. They will analyze the effect of errors on profit and the statement of financial position.
04Preparation of Financial Statements
Students will learn to prepare the trial balance, the Statement of Financial Performance, and the Statement of Financial Position, including end-of-year adjustments.
This topic focuses on the preparation of a trial balance to check the arithmetical accuracy of the ledger accounts. Students will understand the limitations of a trial balance.
Students learn to prepare the Statement of Financial Performance (Income Statement) for a trading business. They will calculate gross profit and profit for the year.
This topic covers the preparation of the Statement of Financial Position (Balance Sheet). Students will classify assets, liabilities, and equity appropriately.
Students apply the accrual basis of accounting to make end-of-year adjustments for prepayments and accruals. They will incorporate these adjustments into the financial statements.