Olympiad: ICO Syllabus for Class 11

Olympiad

Olympiad: ICO Syllabus for Class 11

ICO Syllabus Class 11

The International Commerce Olympiad (ICO) is organised annually by the Science Olympiad Foundation (SOF) in partnership with the Institute of Company Secretaries of India, a statutory body working under the Act of Parliament, with the Ministry of Corporate Affairs taking the administrative control.

The SOF ICO is open for the students of classes 11 and 12. The student can be from any stream as there is no such restriction to the participation. The registration process takes place through the respective schools. From each school, a minimum of 5 students must participate and the maximum number can go up to 20 students.

Important Things to Know About ICO

The prospectus containing the complete details of the Olympiad is sent to the registered school along with their posters and necessary information. The students can also access the same information from the school or visit the official website of SOF ICO. Vedantu also provides authentic information about the International Commerce Olympiad on their website. Apart from the detailed information, the syllabus, previous year question paper and sample paper with their solution are available for free download on Vedantu.

The student needs to know in detail the examination pattern of the ICO. This Olympiad is organised to help the student learn in detail about different aspects of commerce through a competitive approach. The duration of the examination is 60 minutes containing 50 objective questions. Each question carries 1 mark except the 3 questions from Achievers section which carries 3 marks each.

ICO 2024 Important Dates

Main Events	Tentative Dates
SOF ICO date of exam (Set – A)	10th December 2024
SOF ICO date of exam (Set – B)	23rd January 2025
Declaration of result	March 2025 (Tentative)

ICO Syllabus 2024

The ICO syllabus <class> is according to the syllabus of commerce stream for students studying in CBSE, ICSE and other state boards. All the concepts and topics are based on classes 11 and 12 commerce academic curriculum.

ICO Syllabus Class 11

Section	Syllabus
Economics	Introduction to MicroEconomics Statistics for Economics
Business	Nature and Purpose of Business Forms of Business Organisation Public, Private and Global Enterprises Business Services Emerging Modes of Business Social Responsibility of Business and Business Ethics Source of Business Finance Small Business Internal Trade International Business
Accountancy	Part A: Theoretical Framework for Accounting Introducing 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 in accounting Deprecation, Provision, and Reserves. Accounting for Bill of Exchange. Part C (optional): Financial Statements of Sole Proprietorship: From Complete Records only (with Adjustments).
Achievers	High-order thinking skills questions based on: Economics, Accountancy and Business Studies.

ICO Syllabus Class 12

Section	Syllabus
Economics	Introductory Macroeconomics Indian Economic Development
Business	Nature and Significance of Management Principles of Management Business Environment Planning Organising Staffing Directing Controlling Financial Management Financial Markets Marketing Management Consumer Protection
Accountancy	Financial Statements of Non-Profit Organisations Accounting for Partnership Firms Accounting for Companies Analysis of Financial Statements Cash Flow Statement Computerised Accounting
Achievers	High-order thinking skills questions based on: Economics, Accountancy and Business Studies

ICO Exam Pattern 2024-25

The International Commerce Olympiad 2024-25 Paper Pattern for all classes is the same, which is given below.

The ICO question paper contains only 50 multiple-choice questions.
The duration of the examination is 1 hour or 60 minutes.
The exam is conducted during the school hours only.
The ICO question paper has English as the medium and language of instruction.
There are separate question papers for classes 11th and 12th.

The ICO 2024 question paper consists of four sections:

Section-1: Economics

Section-2: Business Studies

Section-3: Accountancy

Section-4: Achievers Section

Preparation Tips for SOF ICO 2024

Students appearing in the SOF ICO 2024 exam should remember the following important points.

ICO applicants must make a timetable and follow it strictly.
Students must know the ICO 2024 syllabus and must be familiar with exam patterns before planning their preparation strategy accordingly.
They should solve as many ICO sample papers and previous years' question papers as possible to know the kind of questions.
Revision is the key to success. Do aspirants must focus on revising all the concepts covered in ICO syllabus class 11.

Since the International Commerce Olympiad (ICO) 2024 is solely focused on the Commerce stream, it is only applicable for students of classes 11 and 12 of the commerce stream. The SOF ICO 2024 results are generally released within 8 weeks of the examination. Students can check their results through their schools or on the official website of the SOF.

FAQs on Olympiad: ICO Syllabus for Class 11

1. What is the registration fee of the SOF ICO?

Ans: Students from schools in India, Bangladesh, Bhutan, & Nepal have to pay Rs 125 for their registration. There is flexibility for the schools to charge an additional Rs 25 per student for remuneration towards the cost of examination or to award the teacher associated with the process. There is a fee relaxation for the students with physical disabilities.

2. What awards are presented to the winners of the SOF International Commerce Olympiad?

Ans: The ICO is a single level exam for 11th and 12th students. Awards are given to the International, Zonal and Class toppers. Each rank holder is entitled to one award in the examination. If the same student becomes the topper at international and zonal levels, he gets the award at the international level. The same goes for zonal and school levels. The award is then given to the next rank holder. If more than two students get the same rank the amount will be equally distributed among the students.

3. How can students participate in the olympiad if the school hasn't received any information?

Ans: All the relevant information about the olympiad is available on the official website. The organiser also sent all the important information regarding the olympiad to the registered schools across the country along with their prospectus, posters and other necessary details. Each school generally associates a teacher or staff with such an olympiad, the student can also take their help while registering and preparing for the examination.

4. What is the best source of material for olympiad preparation?

Ans: Students from classes 11 and 12, Commerce can appear in the exam. Since many students participate, the stakes are very high. Students keen to prepare to secure a good rank in the examination can download a free PDF available on the website of Vedantu. This PDF has sample questions along with their answers.

5. What is the fee structure of ICO 2024?

Ans. The registration fees for the International Commerce Olympiad is Rs. 125, which may be paid online or by demand drafts.