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ICO

About

Science Olympiad Foundation conducts Olympiad exams for various specialized subjects across the grades to the students who aspire to prepare themselves for the challenges of the contemporary world. The International Commerce Olympiad is one such competitive examination conducted by the SOF to enhance the learning spirit of higher secondary school students. The only eligibility criteria for the students to appear in the ICO exam is that they should be pursuing either their 11th or 12th standard. However, there are no other criteria of restriction to take up this examination.

Registration

If you are a commerce student and you want to participate in the International Commerce Olympiad (ICO) then follow the below-mentioned steps.

  • Online registration is required for the ICO Exam. Students must follow these easy procedures to register for the ICO test.

  • Students must register online at the scientific olympiad foundation's official website (SOF).

  • Once the registration is complete, a confirmation message will be delivered to the registered cellphone number.

  • Students will use their registered email id and password to fill out the essential school information.

  • The next step is to fill out the information for your Accountancy and Business Studies school instructor for the certificates; there is a maximum limit of seven.

  • Name, class, and phone number are all required fields to be filled up. The school's coordinating teacher should complete the School Registration Form (SRF) and Students' Registration Sheet (SRS) according to the instructions and submit them to the SOF's office before the deadline. The applicant school, as well as the pupils, will be registered by SOF. SOF will produce roll numbers for all pupils based on the Students' Registration Sheet (SRS) obtained from the School.

  • Exam material and directions will be sent out by SOF by the exam date and forms received from the school.

Syllabus

Class 11

Section 1 Accountancy

Part A: Theoretical Framework for Accounting

  • Introduction to Accounting
  • Theory base of Accounting

Part B: Theoretical Framework for Accounting

  • Recording of Business Transactions
  • Preparation of Bank Reconciliation Statement, Ledger and Trial Balance
  • Rectification of errors Section B
  • Deprecation, Provision, and Reserves
  • Accounting for Bill of Exchange

Part C (optional): Financial Statements of Sole Proprietorship: From Complete Records only (with Adjustments)

Section 2 Business Studies

Part A: Principles and Functions of Management

  • Nature and Significance of Management
  • Principles of Management
  • Business Environment
  • Planning
  • Organizing
  • Staffing
  • Directing
  • Controlling

Class 12

Section 1 Accountancy

Part A: Accounting for Partnership Firms and Companies

  • Accounting for Partnership Firm
  • Accounting For Companies

Part B: Financial Statement Analysis

  • Analysis of Financial Statement
  • Cash Flow Statement

Section 2 Business Studies

Part A: Foundations of Business

  • Nature and Purpose of Business
  • Form of Business Organizations
  • Public, Private and Global Enterprises
  • Business Services
  • Emerging Modes of Business
  • Social Responsibility of Business and Business Ethics

Part B: Finance and Trade

  • Sources of Business Finance
Eligibility Criteria

The SOF International Commerce Olympiad is open to students in grades 11 and 12. There are no further conditions for qualifying, such as minimum grades. There is only one level to the SOF ICO test. The SOF ICO is open to students from the sciences, business, and the humanities.

Application Fee

A registration fee of Rs 125 (including GST) per student Per Olympiad is paid to SOF by schools in India, Bangladesh, Bhutan, and Nepal to cover the cost of the test. Schools may charge an extra Rs 25 per student to cover the honorarium of the in-charge, instructor salary, and other expenditures. Students with a serious physical impairment or an Indian student whose parent was killed in a defence action do not have to pay a fee.

Exam Pattern

When it comes to the ICO exam, there are no other constraints for students who wish to take part. Students do not need to have a minimum academic score, and the best thing about the ICO exams is that they are open to students from any stream, including science, commerce, arts, and other fields. Students who want to take the ICO exam should acquaint themselves with the exam pattern and study accordingly. Here are some things to think about when it comes to the ICO exams:

  • The question paper contains only objective or multiple-choice questions.

  • The test has a restricted time duration, with a maximum time limit of 1 hour or 60 minutes for the student to complete his or her exam.

  • Since the students' performance is assessed on an international level, English will be the medium and language of instruction in the question paper as well as in all exam-related materials distributed to schools and students.

  • The ICO paper pattern is divided into four parts, each of which assesses the students' knowledge of commerce.

  • The four sections are:

i. Economics

ii. Business Studies

iii. Accountancy

iv. Achievers Section.

  • It's also worth noting that the question papers for classes 11 and 12 are different.

  • The majority of the questions are based on concepts from the CBSE/ICSE/State Syllabus.

  • The examination is only held during school hours. There are no additional hours taken up for the test before or after the school's regular operating hours.

Eligibilty Criteria

The SOF International Commerce Olympiad is open to students in grades 11 and 12. There are no further conditions for qualifying, such as minimum grades. There is only one level to the SOF ICO test. The SOF ICO is open to students from the sciences, business, and the humanities.

Exam Pattern

When it comes to the ICO exam, there are no other constraints for students who wish to take part. Students do not need to have a minimum academic score, and the best thing about the ICO exams is that they are open to students from any stream, including science, commerce, arts, and other fields. Students who want to take the ICO exam should acquaint themselves with the exam pattern and study accordingly. Here are some things to think about when it comes to the ICO exams:

  • The question paper contains only objective or multiple-choice questions.

  • The test has a restricted time duration, with a maximum time limit of 1 hour or 60 minutes for the student to complete his or her exam.

  • Since the students' performance is assessed on an international level, English will be the medium and language of instruction in the question paper as well as in all exam-related materials distributed to schools and students.

  • The ICO paper pattern is divided into four parts, each of which assesses the students' knowledge of commerce.

  • The four sections are:

i. Economics

ii. Business Studies

iii. Accountancy

iv. Achievers Section.

  • It's also worth noting that the question papers for classes 11 and 12 are different.

  • The majority of the questions are based on concepts from the CBSE/ICSE/State Syllabus.

  • The examination is only held during school hours. There are no additional hours taken up for the test before or after the school's regular operating hours.

Syllabus

Class 11

Section 1 Accountancy

Part A: Theoretical Framework for Accounting

  • Introduction to Accounting
  • Theory base of Accounting

Part B: Theoretical Framework for Accounting

  • Recording of Business Transactions
  • Preparation of Bank Reconciliation Statement, Ledger and Trial Balance
  • Rectification of errors Section B
  • Deprecation, Provision, and Reserves
  • Accounting for Bill of Exchange

Part C (optional): Financial Statements of Sole Proprietorship: From Complete Records only (with Adjustments)

Section 2 Business Studies

Part A: Principles and Functions of Management

  • Nature and Significance of Management
  • Principles of Management
  • Business Environment
  • Planning
  • Organizing
  • Staffing
  • Directing
  • Controlling

Class 12

Section 1 Accountancy

Part A: Accounting for Partnership Firms and Companies

  • Accounting for Partnership Firm
  • Accounting For Companies

Part B: Financial Statement Analysis

  • Analysis of Financial Statement
  • Cash Flow Statement

Section 2 Business Studies

Part A: Foundations of Business

  • Nature and Purpose of Business
  • Form of Business Organizations
  • Public, Private and Global Enterprises
  • Business Services
  • Emerging Modes of Business
  • Social Responsibility of Business and Business Ethics

Part B: Finance and Trade

  • Sources of Business Finance
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