Senior Cycle Accounting

/Senior Cycle Accounting
Senior Cycle Accounting 2017-08-30T17:12:52+00:00

Aims:

  • To contribute to a balanced and appropriate general education, leading to the personal andsocial development of each student together with a fostering of the concept of accountability.
  • To create awareness of the business environment and to provide each student with the knowledge, understanding and skills leading to a personal competence and responsible participation in this changing and challenging environment.
  • To encourage the development of self-reliance, mental organisation and agility, clear andlogical thinking, planning habits, methods of investigation and processes whereby accuracy can be ensured
  • To enhance numeracy skills and promote awareness of the use of figures computations and statistics in the world of business and enterprise.
  • To expose students to aspects of business and enterprise with a view to career and working life, additional studies in accounting or as a basis for further education.
 Subject Content

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. An extension of Book-Keeping as covered under the Junior Certificate, this course was totally revised in 1998 to update and improve the old Leaving Certificate Accounting Syllabus.

Accounting at first might appear an intimidating subject for some students. Many mistakenly assume that a knowledge of Higher Level mathematics is an essential requirement for entry. Experience has shown that any student with a logical mind and an ability to see the entire scope of the Accounting system will have little difficulty with the subject. In actual fact many find it a very rewarding and relaxing subject to study as it is a subject where the student can
easily measure the progress being made.

Topics covered include:

Financial Statements Preparation, Farm Accounts, Club Accounts, Company Accounts, Manufacturing Accounts, Financial Statements Analysis and Interpretation, Budgeting, Breakeven Analysis, Cost Classification, Accounting Theory and Principles.

 Exam Structure

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.

Career Options
  • Pursue a Professional Accountancy Qualification.
  • Work in/as any of the following, Banking, Insurance, Management, Company Secretary, Receptionist, Accounting Technician, Hotel Management, Hospital and School Administration, Computer Industry, Auctioneering, Advertising, Law and Engineering.
  • Banking – Institute of Banker Examinations reach no higher than Honours Accounting level.
  • Accounting is on the curriculum of many Third Level Courses, the most obvious being the Business Courses but also for Hotel Management, Hospital Administration, various Computer Courses, Auctioneering, Advertising, Law and Engineering to name but a few.
  • Accounting is compulsory in the first year of the Bachelor of Commerce degree. It is optional subsequently but it is very often the subject on which the quality of the degree is based. This applies particularly to those who have a career in accountancy in mind.
  • Becoming a Certified Accountant is possible directly after degree while another three years study is required for Chartered Accountancy.
  • A background in Accounting will also prove very useful for those who intend starting their own business or joining the family business.
  • In fact, it is hard to think of any career where some knowledge of Accounting would not be useful.
Final Comments
  • 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 computer is steadily eliminating the purely mechanical and book-keeping role of accountants so more and more managers have to analyse, interpret and use the figures produced by the computer.
  • 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 organised student with an aptitude for order will be particularly suited to this course.