A lot of students choose accounting because they think it is a maths-based subject. Those students who are good with numbers imagine accounting is going to be an easy subject. But, in reality, nothing could be further from the truth.
Accounting at both AS and A-level is the study of the finances of a business or company. It has its own technical terms and systems. It requires a logical approach with the ability to apply lateral thinking to problems.
As a student of accounting, you will be required to have a certain set of skills. A reasonable level of English comprehension is important, as is a willingness to study hard and revise constantly (if good grades are your goal). Just as important is a willingness to ask and answer questions but possibly the most important attribute of the lot is the ability to identify how to apply the theories to any given set of information.
This is particularly important as each and every question uses information from a variety of the topics covered and no two questions are the same.
AS investigates and teaches the recording of financial information from the original documentation through to the production of the profits (or losses) for a period of time – as well as identifying the overall value of the business in the form of balance sheets. This includes the construction of various different types of accounts such as debtors and creditors.
We also examine the accounts of clubs and societies; the construction of accounts from incomplete information; the accounts for partnerships as well as how to assess the performance of the business using a variety of accounting ratios.
A2 examines the production of the final accounts for both public and private limited companies to the required standards set by the accounting regulatory bodies. It also teaches a variety of management decision-making techniques such as make or buy decisions; the most profitable use of limited factors of production; analysis of the businesses overheads and their allocation; contract accounts as well as investment appraisal to name just a part of the syllabus.
Exam Board – OCR.
|Students take two units (Accounting Principles; Financial Accounting) at the end of the first year.
Student take a further two units (Company Accounts, Management Accounting) at the end of the second year.