ICO Class 12 Syllabus

The ICO exam stands for International Commerce Olympiad. The popular academic organisation, the Science Olympiad Foundation (SOF), conducts the examination. As the name suggests, the exam primarily focuses on the Commerce and Humanities streams. This exam acts as an excellent platform to demonstrate the candidates’ knowledge, interest and academic talent in these subjects and streams. The exam would be really helpful to students who are keenly interested in studying the mainstream subjects of the Commerce course, such as Accounting, Business Studies and also Economics. The Commerce stream has a wide range of subjects and numerous opportunities for career growth.

About ICO

The International Commerce Olympiad by the Science Olympiad Foundation is conducted in partnership with The Institute of Company Secretaries of India, a statutory body under an Act of Parliament, under the administrative control of The Ministry of Corporate Affairs. Students studying in Classes 11 and 12 can enrol in this examination. The ICO examination is a single level examination. Students belonging to Commerce and Humanities can take the ICO exam. Every student who participates in the ICO examination will be given a Student Results Report (SPR) that evaluates their exam performance.

Examination Pattern

Every examination has a set pattern, and the ICO exam also follows a definite pattern for Class 11 and Class 12. The exam pattern is described below.

The question paper is classified into four sections:

  • Section 1 comprises Economics subjects
  • Section 2 comprises Business Studies subjects
  • Section 3 comprises Accountancy subjects
  • Section 4 comprises Achievers Section

The marking scheme of each section is shown in the tabular column below.


Number of questions

Marks per question

Total marks





Business Studies








Achievers Section







ICO Syllabus for Class 12

The syllabus for ICO exam Class 12 is as per the academic curriculum of various academic boards such as CBSE, ICSE and several other state boards. The syllabus and topics covered in the examination go hand in hand with the syllabus of Class 12. The main subjects included in the syllabus are

  • Economics: Economics is a part of social science which is associated with the study of production, households, distribution, firms, consumption of goods and services, industries, government, decision making, and the study of how people make optimum utilisation of resources. It helps to understand how limited resources can be utilised to satisfy consumers’ desire to obtain maximum satisfaction.
  • Business Studies: Business Studies is a vast subject in the social sciences that allows in-depth study of a degree of speciality. This would include Finance, Accountancy, Marketing and Organisation. It gives an individual a substantial foundation and understanding of how a business should be operated while enhancing communication, operation, strategy and commercial activity skills.
  • Accountancy: Accountancy is the practice of recording, allocating and outlining trade transactions for a business. It provides an assessment of management concerning the financial outcomes and ranking of an establishment. A few accountancy tasks include recording, classification and reporting of a transaction.

The syllabus for the Class 12 ICO examination is described in the table given below.


Syllabus of the section

Economics Section

The topics in this section include

  • Introductory Macroeconomics
  • Indian Economic Development

Business Section

The topics in this section include

  • Nature and Significance of Management
  • Principles of Management
  • Business Environment
  • Planning
  • Organising
  • Staffing
  • Directing
  • Controlling
  • Financial Management
  • Financial Markets
  • Marketing Management
  • Consumer Protection

Accountancy Section

The topics in this section include

  • Financial Statements of Non-Profit Organisations
  • Accounting for Partnership Firms
  • Accounting for Companies
  • Analysis of Financial Statements
  • Cash Flow Statement
  • Computerised Accounting

Achievers Section

The topics in this section include High-order thinking skills questions based on Economics, Accountancy and Business Studies

The syllabus can be studied deeply based on the exam pattern which is given above. To score more in the achiever’s section, extra effort is required during the exam preparation. In this section, the questions are asked from all three sections but the difficulty level would be slightly higher in comparison with the other sections. A perfect blend of study and solving a lot of previous years’ ICO exam questions would definitely help the student to crack the exam with flying colours.

Frequently Asked Questions on ICO Syllabus

Where can the student get information about the ICO exam registration?

The student can get information about ICO exam registration on the SOF official website.

Can a student of Class 10 appear for the examination?

No, students in grade 10 cannot take the exam. Only students belonging to classes 11 and 12 can take the examination.

What are the top books that can be used for preparation?

The student can refer to prescribed textbooks from CBSE, ICE and other state boards. The NCERT textbooks would be a good reference for the exam preparation

When is the ICO examination conducted?

The ICO exam is conducted once a year, probably in the month of December.

Who conducts the ICO examination?>

The popular academic organisation, the Science Olympiad Foundation conducts the ICO examination.

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