Accounting is a business studies option within the Leaving Certificate programme. It covers aspects of business and social life which are not dealt with in any other subject in that programme. It is concerned with the preparation, recording, extraction, presentation and analysis of financial information for the purpose of making economic decisions. The course also involves a Management Accounting section where the student will learn how to analyse business costs and how to prepare budgets.
Topics covered include: Financial Statements Preparation, Farm Accounts, Club Accounts, Company Accounts, Manufacturing Accounts, Financial Statements Analysis and Interpretation, Budgeting, Break-even Analysis, Cost Classification, Accounting Theory and Principles.
The subject is examined at higher and ordinary level. Both levels involve one exam of three hours duration. The exam paper is made up of three sections, the first two are based on the Financial Accounting section of the course and the third covers the Management Accounting section. Questions must be answered from all sections of the exam paper.
The course is numerically based but theory and procedures must be learned also. While the student needs to be comfortable with numbers he or she does not need to be at higher maths level.
The Junior Certificate Business Studies Course provides a foundation for this course and the absence of this foundation will make it more difficult to succeed.
This course offers a hard working student the real possibility of high grades because of the unambiguous nature of the questions.
An organized student with a likeness for order will be particularly suited to this course.