What are Control Accounts?

Not all the transactions done in a business are in cash. Now days, businesses do a lot more transactions in credit and thus there is a long list of debtors and creditors. Since the bulk of entries are made in the accounts of debtors and creditors, these two classes of accounts are taken out of the General Ledger and put in a subsidiary ledger.

Subsidiary ledgers include

Sales Ledger: Which contains all debtors accounts

Purchases Ledger: contains all creditors’ accounts.

This is where control account comes in…

Control account is a summary of all the accounts in the subsidiary ledgers.

The summary of all accounts in the Sales ledger make up the Debtors control account and the summary of all accounts in the Purchase Ledger is known as the Creditors control account.

Read more about how to prepare Control Accounts at www.dineshbakshi.com

You can download IGCSE Accounting (code 452) from CIE website.

Click here goto the page.

You will also find

• Specimen Papers for New syllabus applicable from June 2010 examinations
• Past question paper (November 2006)
• Marking scheme  (November 2006)

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For students who are appearing for Jun 2010 exams or after that, will have follow the changed scheme of assessment.

There will be two compulsory papers i.e. Paper 1 and Paper 2.

These papers will contain questions based on the whole syllabus, and will be graded A to G.

Paper 1

Duration : 1¾ hours

Total marks: 120

Weighting : 50%

Structured question paper with 8–12 multiple choice items and short answer questions.

Paper 1 will usually consist of between 4 to 5 questions drawn from topics across the whole of the syllabus.

All questions are compulsory and will mainly test Knowledge and Understanding, with some Analysis and Evaluation.

Candidates answer on the question paper.

Paper 2

Duration :1¾ hours

Total marks: 120

Weighting: 50%

Structured question paper. Paper 2 will usually consist of 4 to 6 questions drawn from topics across the whole of the syllabus.

All questions are compulsory and will test Knowledge and Understanding, but with an emphasis on Analysis and Evaluation.

Candidates answer on the question paper.

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