Cambridge International · IGCSE · 0452
Accounting — Keywords & Key Terms — Definitions Glossary (2026)
Cambridge IGCSE Accounting (0452)
Topic-by-topic keywords, key terms and definitions for precise exam language—separate from our revision checklists (topic coverage) and formula sheets (equations).
Keywords & Key Terms — definitions
Examiner-style keywords and definitions organised by syllabus topic. Terms are tagged Essential (start here), Core (typical exam standard), and Advanced for harder distinctions — tick each row when you can recall it. Your progress is saved in this browser for this list.
Cambridge International IGCSE Accounting (0452)
Cambridge International IGCSE Accounting (0452)
Cambridge IGCSE Accounting (0452)
Aligned to Cambridge IGCSE Accounting 0452 (2026): foundations of accounting, recording transactions through books of prime entry and ledgers, preparation of financial statements, and analysis using accounting ratios.
Mark schemes: Cambridge rewards correct accounting conventions — proper layout of T-accounts and statements, dates, narratives, and folio references — and full working must be shown for ratios and adjustments to earn method marks even when the final figure is wrong.
Active recall: 0 / 25 terms ticked
| Recalled | Topic | Level | Keyword | Definition |
|---|---|---|---|---|
| Foundations of accounting | Essential | Asset | Resource owned by a business with future economic benefit. | |
| Foundations of accounting | Essential | Liability | Amount owed by the business to an external party. | |
| Foundations of accounting | Core | Capital | Owner's investment in the business — a claim on its assets. | |
| Foundations of accounting | Core | Accounting equation | Assets = Liabilities + Capital — must always balance. | |
| Foundations of accounting | Core | Double-entry | Every transaction has equal debit and credit entries. | |
| Foundations of accounting | Core | Debit / credit | Left- and right-hand entries in T-accounts following rules per account type. | |
| Foundations of accounting | Advanced | Trial balance | List of ledger balances checking that total debits equal total credits. | |
| Recording transactions | Core | Journal | Book of prime entry for non-routine transactions with narratives. | |
| Recording transactions | Core | Ledger | Set of accounts where transactions are posted from books of prime entry. | |
| Recording transactions | Core | Sales / purchase day book | Lists credit sales and credit purchases before posting to ledger. | |
| Recording transactions | Core | Cash book | Records all cash and bank receipts and payments. | |
| Recording transactions | Core | Petty cash | Small float for minor expenses, run on the imprest system. | |
| Recording transactions | Core | Bank reconciliation | Statement matching cash book balance to bank statement balance. | |
| Recording transactions | Advanced | Bad debts / provision for doubtful debts | Irrecoverable amount written off; estimated allowance against trade receivables. | |
| Financial statements | Essential | Income statement | Shows revenue, expenses and profit for a period. | |
| Financial statements | Core | Statement of financial position | Snapshot of assets, liabilities and capital at a date. | |
| Financial statements | Core | Cost of goods sold | COGS = opening inventory + purchases − closing inventory. | |
| Financial statements | Core | Gross profit margin | GP ÷ Revenue × 100 — profitability before expenses. | |
| Financial statements | Core | Profit margin | Profit for the year ÷ Revenue × 100. | |
| Financial statements | Advanced | Depreciation | Allocation of non-current asset cost — straight-line vs reducing balance. | |
| Analysis & interpretation | Core | Working capital | Current assets − current liabilities — short-term liquidity. | |
| Analysis & interpretation | Core | Current ratio | Current assets ÷ current liabilities — short-term solvency. | |
| Analysis & interpretation | Core | Acid-test ratio | (Current assets − inventory) ÷ current liabilities — liquidity excluding stock. | |
| Analysis & interpretation | Core | Gearing | Proportion of capital financed by long-term debt. | |
| Analysis & interpretation | Advanced | ROCE | Profit before interest and tax ÷ capital employed × 100 — return on capital employed. |
Pair this with our revision checklists, formula sheets hub and past paper finder.
Accounting (0452) — Keywords & Key Terms FAQ
- What is on this Cambridge International IGCSE Accounting keywords and key terms list?
- It is a topic-organised glossary of important accounting terms with short, exam-style definitions aligned to Cambridge IGCSE Accounting (0452) (0452). It is designed for “define”, “state”, “outline” and “explain” questions where precise vocabulary earns marks.
- How should I use this Accounting glossary alongside past papers?
- Tick terms when you can recall them without reading the answer, then check your wording against mark schemes. Pair vocabulary practice with past papers for IGCSE Accounting (0452) so you apply terms in context.
- Is this the same as a revision checklist or a formula sheet?
- No. Revision checklists help you track which syllabus topics you have covered and your confidence—separate pages on Tutopiya. Formula sheets summarise equations and quantitative relationships. This page is only a definitions and key-terms glossary for Accounting.
- Can I download this Accounting keywords and key terms list for free?
- Yes. After a quick free sign-up you can download a UTF-8 CSV (opens in Excel or Google Sheets) or open a print-friendly page and save as PDF. Browsing the list on the page is free.
- Is this Accounting list aligned to the 0452 specification?
- Topic groupings and wording follow Cambridge IGCSE Accounting (0452) for Cambridge International IGCSE. Always confirm final learning objectives and any regional options in your official specification and recent examiner reports for your exam session.
- Why focus on definitions instead of full notes?
- Mark schemes reward correct technical terms and clear links between ideas. A compact glossary lets you drill the exact language examiners expect for Accounting at IGCSE, separate from longer notes or topic trackers.