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. Calculations will contribute approximately 20% towards the exam.
Students are expected to write extended prose answers with marks awarded for the quality of their answers not the number of valid points made. Therefore students will need to focus on developing their ability to write effectively so that they can report to stakeholders, making logical arguments and providing sound judgements based on an analysis of available financial and non-financial data.
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.
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 will also examine the accounts of Limited Companies, the construction of Budgets and decision-making using Marginal Costing as well as how to assess the performance of a business with ratio analysis.
A2 builds on the work already learnt during AS and includes the construction of incomplete records, dealing with partnerships, the control of the company using both absorption and standard costing and deciding on future investments using capital investment appraisal. We will also explore the impact of ethical considerations on business behaviour.
Exam Board – AQA
|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.
Where does it lead?
The reward for a student who completes the subject, assuming that no further study of the subject is undertaken, is knowledge that can be applied within any business by managers of most levels. If further study is undertaken and success is achieved, a very lucrative career path awaits.
AS Business Accounts by David Cox
A2 Advanced Accounting For A2 by Ian Harrison