Accounting

The course covers many facets of Accounting – from bookkeeping, to financial statements for a number of different types of businesses, to Cost accounting at the AS and A Levels.

Welcome to Accounting

Accounting is offered at both the IGCSE and A Level.  It was introduced a few years ago due to the very high demand for accountants in Cayman’s thriving financial industry.  The course covers many facets of Accounting – from bookkeeping, to financial statements for a number of different types of businesses, to Cost accounting at the AS and A Levels. We are very fortunate to have KPGM sponsor our Accounting course by offering the students free resources, awards for the top achievers and potential for internships and scholarships. Many of our past accounting students now work in the top accounting firms. The course opens many doors, as accounting fills a crucial role in every business, large and small!

IGCSE Accounting

Topics studies include:

  1. The fundamentals of accounting
  2. Sources and recording of data
  3. Verification of accounting records
  4. Accounting procedures
  5. Preparation of financial statements
  6. Analysis and interpretation
  7. Accounting principles and policies


Key skills include:

  • knowledge and understanding of the principles and purposes of accounting for individuals, businesses, non-trading organisations and society as a whole.
  • an understanding of accounting concepts, principles, policies, techniques, procedures, and terminology
  • improved skills of numeracy, literacy, communication, enquiry, presentation, and interpretation
  • improved accuracy, orderliness, and the ability to think logically.
  • An excellent foundation for advanced study.

Sixth Form Accounting

Topics studied include:

 AS Level topicsA-Level topics
Financial accounting1.1 Types of business entity3.1 Preparation of financial statements
1.2 The accounting system3.2 Regulatory and ethical considerations
1.3 Accounting for non-current assets3.3 Business acquisition and merger
1.4 Reconciliation and verification3.4 Computerised accounting systems
1.5 Preparation of financial statements3.5 Analysis and communication of accounting information
1.6 Analysis and communication of accounting information 
Cost and management accounting  
2.1 Costs and cost behaviour4.1 Activity based costing (ABC)
2.2 Traditional costing methods4.2 Standard costing
 4.3 Budgeting and budgetary control
 4.4 Investment appraisal

Key skills include:

  • understand the role of accounting as an information system for monitoring, problem-solving and decision-making.
  • appreciate the ethical issues that underpin the practice of accounting and their impact on the behaviour of the accountant and of businesses.
  • appreciate the place of accounting in managing business change in response to economic, social, and technological developments.
  • develop the ability to apply and evaluate accounting concepts, principles, policies, and practices.
  • develop skills of communication, analysis, interpretation, and presentation of both qualitative and quantitative accounting information
  • develop skills and knowledge needed for further study or employment in accounting or business.

Future Careers

Accounting Specializations:

  • Certified Public Accountant (CPA)
  • Forensic Accountant
  • Management Accountant (CMA)
  • Tax Consultant/Tax Advisor
  • Nonprofit Accountant
  • Government Accountant
  • International Accountant
  • Blockchain/Cryptocurrency Accountant


Financial Analysis and Advisory:

  • Financial Analyst
  • Financial Planner/Advisor
  • Business Valuation Specialist
  • Risk Analyst
  • Data Analyst/Financial Data Analyst


Auditing and Compliance:

  • Internal Auditor
  • Sustainability Accountant
  • Technology Consultant for Accounting Software


Planning and Control:

  • Budget Analyst
  • Controller


Market and Investment Focus:

  • Forex (Foreign Exchange) Trader


Education and Development:

  • Financial Educator


Extra-curricular – REVISION CLUBS (all subjects: KS4 and 5):

Subject teachers offer weekly classes to support Year 12 and 13 in consolidating their understanding and preparing for their mock and final examinations. It provides an opportunity for students to revise core subject material, practice examination skills, and stay motivated. It also helps students to develop their problem-solving and critical thinking skills, socialise with peers, build confidence, and develop a strong study routine.

Accounting students often participate in Junior Achievement where they have the opportunity to work with students from other schools within a business environment.  They create a company, make, and sell products, and produce an annual report at the end of the academic year. It is common for one of our Accounting students to become the VP of Finance, and put into practice the skills they have learned in the course.

Students also enjoy participating in the Saxon Stock Market Competition.  This club allocates a fictitious sum of $100,000 to the students who then use a real time stock market simulation to gain the highest returns. St. Ignatius students lead the tables in number of winning teams and are keen to defend their current status as champions