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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.
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Online registration is required for the ICO Exam. Students must follow these easy procedures to register for the ICO test.
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Students must register online at the scientific olympiad foundation's official website (SOF).
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Once the registration is complete, a confirmation message will be delivered to the registered cellphone number.
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Students will use their registered email id and password to fill out the essential school information.
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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.
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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.
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Exam material and directions will be sent out by SOF by the exam date and forms received from the school.
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.
There are not any specific eligibility criteria for the International Commerce Olympiad (ICO) Level 1. The examination is open to high school college students reading in instructions 11 and 12. There are not any necessities for minimum marks obtained by means of college students in their academic topics. The ICO exam is accessible to all eligible students no matter their instructional performance.
Eligibility Summary:
- Classes Eligible: Students of lessons eleven and 12
- Academic Requirements: No minimum marks required
- School Affiliation: Students need to be enrolled in a recognized college
- Registration: Schools have to sign up their college students for the exam through the Science Olympiad Foundation (SOF)
The ICO targets to encourage and identify expertise within the subject of trade with out enforcing restrictive eligibility criteria, making it reachable to a wide variety of college students.
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.
Exam Highlight
Scholarships and Prizes:
Scholarships, coins awards, and different prizes for top-ranking college students at exceptional levels.
Rankings:
International, zonal, and college ratings are furnished to benchmark overall performance and recognize excellence.
Exam Dates
Registration Deadline: Schools have to ensure registration nicely earlier.
Exam Date: Typically held in December. Exact dates might be communicated via SOF and colleges.
Preparation and Resources
Official ICO Workbooks and Sample Papers:
Available at the SOF website and via registered colleges. These workbooks include previous years’ question papers and pattern questions.
Online Resources:
Educational websites and cell apps offer practice questions, mock checks, and interactive mastering modules tailored for ICO.
Coaching and Mentoring:
Guidance from teachers, previous ICO contributors, and specialized coaching institutes can be treasured.
Important Instructions
Admit Cards:
Students should convey their admit playing cards to the examination middle. Admit playing cards can be downloaded from the SOF website the use of registration credentials.
Exam Day Guidelines:
Arrive on the examination middle properly before the scheduled time.
Follow all instructions furnished by the invigilators.
Maintain the desired decorum and make sure no malpractice
Counselling
For the International Commerce Olympiad (ICO), the time period "counseling consultation" typically refers to guidance or help supplied to contributors in the course of the competition manner. Here’s an overview of what this might involve:
ICO Counseling Overview
Preparation Guidance:
Before the Olympiad, participants may also acquire steerage on a way to put together effectively. This can encompass recommended look at materials, exercise techniques, and suggestions for handling exam stress.
Problem-Solving Workshops:
Some organizers conduct workshops or education sessions wherein members can solve exercise problems under the steering of skilled mentors. These sessions help enhance hassle-solving capabilities and familiarize contributors with the types of questions asked within the ICO.
Mock Tests and Feedback:
Mock checks can be prepared to simulate the examination surroundings. After these assessments, feedback classes can offer insights into areas where members need development and strategies for reinforcing overall performance.
Question and Answer Sessions:
Organizers can also arrange sessions in which members can ask questions on unique subjects or problems encountered for the duration of practise. This interactive format helps clarify doubts and deepen understanding.
Support for Participants:
Throughout the ICO procedure, organizers may additionally provide aid to members, which includes logistical help, facts approximately examination facilities, and answering queries associated with the competition policies and tips.
Post-Exam Guidance:
After the Olympiad, contributors may also get hold of guidance on deciphering their performance, know-how their strengths and areas for improvement, and pointers for further look at or destiny competitions.
How to Access Counseling Sessions
Official Website: Check the reputable ICO or Science Olympiad Foundation (SOF
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
Exam
Exam Highlights of ICO 2024
The International Commerce Olympiad (ICO) 2024, prepared by means of the Science Olympiad Foundation (SOF), is designed to check and enhance college students' knowledge in the area of commerce. Here are the important thing highlights:
Exam Structure and Subjects
Levels of Examination:
Single Level Exam: ICO is performed at a unmarried level in the college premises.
Subjects Covered:
Commerce Subjects:
Accounting
Business Studies
Economics
General Knowledge associated with trade and cutting-edge affairs
Eligibility and Participation
Eligible Students:
Students from training eleven and 12 from any diagnosed school in India or overseas.
Schools need to be registered with SOF to enable their college students to participate.
Exam Pattern
Class 11 and 12:
Total Questions: 50
Sections:
Economics (15 questions)
Business Studies (15 questions)
Accountancy (15 questions)
Achievers Section (five questions – better order questioning questions)
Total Marks: 60
Duration: 60 mins
Syllabus
The syllabus for ICO is aligned with the curriculum accompanied via important training boards like CBSE, ICSE, and nation forums. It consists of topics from:
Economics: Microeconomics, Macroeconomics, National Income, and so on.
Business Studies: Principles of Management, Business Environment, Planning, and so on.
Accountancy: Financial Accounting, Partnership, Company Accounts, and so forth.
Current Affairs: Latest developments in commerce, economics, and commercial enterprise.
Marking Scheme
Economics, Business Studies, Accountancy Sections:
Each query consists of 1 mark.
Achievers Section:
Each query contains 3 marks to reward superior trouble-fixing capabilities.
No Negative Marking: Typically, there's no negative marking for incorrect answers.
Awards and Recognition
Medals and Certificates:
Medals: Gold, Silver, and Bronze medals for pinnacle performers on the school,
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.
There are not any specific eligibility criteria for the International Commerce Olympiad (ICO) Level 1. The examination is open to high school college students reading in instructions 11 and 12. There are not any necessities for minimum marks obtained by means of college students in their academic topics. The ICO exam is accessible to all eligible students no matter their instructional performance.
Eligibility Summary:
- Classes Eligible: Students of lessons eleven and 12
- Academic Requirements: No minimum marks required
- School Affiliation: Students need to be enrolled in a recognized college
- Registration: Schools have to sign up their college students for the exam through the Science Olympiad Foundation (SOF)
The ICO targets to encourage and identify expertise within the subject of trade with out enforcing restrictive eligibility criteria, making it reachable to a wide variety of college students.
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
Counselling
For the International Commerce Olympiad (ICO), the time period "counseling consultation" typically refers to guidance or help supplied to contributors in the course of the competition manner. Here’s an overview of what this might involve:
ICO Counseling Overview
Preparation Guidance:
Before the Olympiad, participants may also acquire steerage on a way to put together effectively. This can encompass recommended look at materials, exercise techniques, and suggestions for handling exam stress.
Problem-Solving Workshops:
Some organizers conduct workshops or education sessions wherein members can solve exercise problems under the steering of skilled mentors. These sessions help enhance hassle-solving capabilities and familiarize contributors with the types of questions asked within the ICO.
Mock Tests and Feedback:
Mock checks can be prepared to simulate the examination surroundings. After these assessments, feedback classes can offer insights into areas where members need development and strategies for reinforcing overall performance.
Question and Answer Sessions:
Organizers can also arrange sessions in which members can ask questions on unique subjects or problems encountered for the duration of practise. This interactive format helps clarify doubts and deepen understanding.
Support for Participants:
Throughout the ICO procedure, organizers may additionally provide aid to members, which includes logistical help, facts approximately examination facilities, and answering queries associated with the competition policies and tips.
Post-Exam Guidance:
After the Olympiad, contributors may also get hold of guidance on deciphering their performance, know-how their strengths and areas for improvement, and pointers for further look at or destiny competitions.
How to Access Counseling Sessions
Official Website: Check the reputable ICO or Science Olympiad Foundation (SOF
Old Question Papers
Currently do not have unique records at the International Commerce Olympiad (ICO), along with get right of entry to to its vintage query papers. For the maximum accurate and updated resources, I advise visiting the respectable Science Olympiad Foundation (SOF) website or contacting their support without delay. They normally provide get right of entry to to beyond papers and different applicable assets for participants.
Prep Materials
Syllabus and Exam Pattern:
Make certain you are acquainted with the ICO syllabus and examination pattern. The syllabus usually covers subjects in economics, commercial enterprise research, accountancy, and logical reasoning.
Books:
Economics:
"Principles of Economics" by way of N. Gregory Mankiw
"Introductory Microeconomics" and "Introductory Macroeconomics" by means of Sandeep Garg
Business Studies:
"Business Studies" via C.B. Gupta
"Business Studies" by Poonam Gandhi
Accountancy:
"Accountancy" by D.K. Goel
"Financial Accounting" with the aid of T.S. Grewal
General Commerce:
"Commerce" by R.K. Sharma and Shashi K. Gupta
Admit card
Steps to Obtain ICO Admit Card
Visit Official Website:
- Go to the official SOF (Science Olympiad Foundation) or ICO internet site wherein the admit card is release
Login:
Use your registration wide variety and password/date of birth to log into your account. This statistics is usually provided in the course of registration.
Download Admit Card:
- Locate the hyperlink to download the admit card. This link is often displayed prominently on the homepage or in your private dashboard after logging in.
Print Admit Card:
- After downloading the admit card, ensure to print it out. It’s essential to have a clear and legible printout for examination purposes
