Principles of Accounts (POA)

Vision
To nurture students’ interest for accounting and to relate it to real life applications.

Mission
To equip students with useful life skills in accounting.

About Principles of Accounts
The subject Principles of Accounts (POA) is offered as an elective subject for the Upper Secondary Express and Normal (Academic) courses. The POA Syllabus is designed to provide students with an introduction to financial accounting and to develop an appreciation of accounting.  Students offering POA will develop an understanding of accounting concepts and learn how to apply accounting knowledge to develop life skills and values. They will develop the abilities to prepare, communicate and use accounting information.

Assessment
GCE N Level GCE O Level
Paper 1 Paper 2 Paper 1 Paper 2
40% 60% 40% 60%
3 to 4 Compulsory Structured Questions Section A (48%)
- 3 Compulsory Questions, 1 question on preparation of Financial Statements (24%)
Section B (12%)
- Choose 1 out of 2 Questions
3 to 4 Compulsory Structured Questions Section A (48%)
- 3 Compulsory Questions, 1 question on preparation of Financial Statements (20%)
Section B (12%)
- Choose 1 out of 2 Questions

Curriculum Content
All students will learn about basic book-keeping and the accounting information system and move on to study various accounting elements and processes in more detail.  For example, they will learn how businesses account for inventory, trade receivables and non-current assets.

O Level students will proceed to learn more advanced topics such as accounting for limited companies and analysis of financial statements.

GCE N Level
Skills %
Knowledge and understanding 30%
Application 45%
Analysis and synthesis 25%
GCE O Level
Skills %
Knowledge and understanding 25%
Application 30%
Analysis and synthesis 30%
Evaluation 15%

O Level assessment involves more thinking and writing skills.

Key Learning Outcomes

1) Real-World Curriculum
Students will be able to experience authentic learning about business and financial matters. This aims to instill good financial habits in our students by equipping them with important life skills and financial literacy knowledge such as budgeting, the importance of savings and investing for the future. With the relevant knowledge and skills, the students can be better prepared for the financial landscape of the 21st century and make informed decisions to manage their future financial resources.

2) Inter-disciplinary Approach
Students will be able to experience the application of good English and Mathematics in articulating business financial performance.

3) Connected to Society and World
Students will be able to experience the relevance of professional ethics within the accounting profession and be aware of the various career options and progression pathways in the Singapore Accounting ecosystem.

Commentary on Accounting Jobs
http://www.straitstimes.com/opinion/why-robots-wont-steal-accountants-jobs
Talk on the Accountancy Profession and the possible career pathways in the Accounting industry
On 25th July 2017, 2 speakers from the Institute of Singapore Chartered Accountants (ISCA) conducted a talk on the Accountancy Profession and the possible career pathways in the Accounting industry. The session was part of ISCA’s ongoing efforts to reach out to aspiring accountants and to share more about the accountancy profession and career pathways, through career talks to students who are interested to know more about the profession.

POS2
POS1

4) Entrepreneurial Dare
Students will demonstrate the willingness to think critically and inquire more deeply about the subject content that they have learnt.