Accounting

Head of Department: Mr Darren Wilkins

Overview of Subject:

This course involves the study of both financial and management accounting at both Year 12 and Year 13. The 4 written examinations comprise accessible questions enabling candidates to demonstrate the full extent of their achievements. There are a range of question types within the written papers that involve both computational and prose-based answers, with the emphasis on computation. In terms of content studied, the following issues are covered over the 2 Year linear A-Level course.

  • understand the role and develop the skills of the accountant in developing and evaluating accounting information systems and in preparing financial and management accounting information
  • apply the principles and techniques of accounting in the preparation of financial and management accounting information including using the double-entry model to: record transactions; prepare financial statements for different types of organisations; and prepare management accounting information to enable management to plan, control and make decisions
  • analyse and evaluate a range of financial and management information and communicate the outcomes numerically and verbally
  • evaluate the impact of ethical considerations on the accountant and the duty to be truthful and accurately represent the facts when preparing and presenting accounting information, undertaking financial decision making and addressing the concerns of stakeholders
  • develop the ability to solve problems logically, analyse data methodically, make reasoned and justified decisions and use different reporting methods to communicate these to stakeholders.

Syllabus:

Year 1:
  1. An introduction to the role of the accountant in business
  2. Types of business organisation
  3. The double entry model
  4. Verification of accounting records
  5. Accounting concepts used in the preparation of accounting records
  6. Preparation of financial statements of sole traders
  7. Limited company accounts
  8. Analysis and evaluation of financial information
  9. Budgeting
Year 2:
  1. Marginal costing
  2. Standard costing and variance analysis
  3. Absorption and activity based costing
  4. Capital investment appraisal
  5. Accounting for organisations with incomplete records
  6. Partnership accounts
  7. Accounting for limited companies
  8. Interpretation, analysis and communication of accounting information
  9. The impact of ethical considerations

Why should I study Accounting, and what skills will it develop?

The new A Level Accounting specification enables students to develop both language and computation skills. The thrust of the new A Level course encourages students to draw on knowledge obtained over the full 2 year course of their studies and present detailed analytical and evaluative judgements.

What prior knowledge and skills are required?

GCSE Mathematics (or international equivalent) at grade A (minimum)

IELTS – 5.5 (minimum)

How is this course useful?

A qualification in accounting will always be useful – whether it’s used professionally or personally. This course helps students to understand the responsibilities of the accountant and the impacts of their recommendations on the business and the wider environment. Students will build knowledge and understanding of key concepts, principles and techniques that they can apply to real-life scenarios, developing the ability to solve problems logically, analyse data methodically, make reasoned choices and communicate effectively.

This A Level can help lead onto careers in Finance and Accounting, Insurance, Banking, the Civil service as well as more general business related careers.

How is the course assessed?

Year 1:

There are no external examinations in Year 1 of the A Level. This is a linear course with all external assessment taking place at the end of 2 years. (There will be an internal examination at the end of Year 12)

Year 2:

There are 2 terminal written examination papers that make up the full A Level qualification. These are both 3 hours in duration.

Paper 1 – Tests the following content:

  1. An introduction to the role of the accountant in business
  2. Types of business organisation
  3. The double entry model
  4. Verification of accounting records
  5. Accounting concepts used in the preparation of accounting records
  6. Preparation of financial statements of sole traders
  7. Limited company accounts
  8. Analysis and evaluation of financial information
  9. Accounting for organisations with incomplete records
  10. Partnership accounts
  11. Accounting for limited companies
  12. Interpretation, analysis and communication of accounting information 13. The impact of ethical considerations

Paper 2 – Tests the following content:

  1. An introduction to the role of the accountant in business
  2. Types of business organisation
  3. The double entry model
  4. Analysis and evaluation of financial information
  5. Budgeting
  6. Marginal costing
  7. Standard costing and variance analysis
  8. Absorption and activity based costing
  9. Capital investment appraisal
  10. Interpretation, analysis and communication of accounting information
  11. The impact of ethical considerations

Exam Board / Code:

AQA 7127