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Accounting

Accounting

What kind of Student would Accounting suit

Commonly seen as the mathematical side of business, accounting attracts the more numeratel student.  It teaches students the bookkeeping side of business but delves deeper, teaching students to analyze and interpret the figures.  Once you can understand and adhere to the basic rules of accountancy it is a subject that you can do very well in.

Recommendations/Tips

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.   While the Junior Certificate Business Studies Course provides a foundation for this course, it is not essential and it is possible to take it up at senior cycle. 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 a likeness for order will be particularly suited to this course.

Exam structure and topic covered

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.

Topics covered – 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, and more.

Career possibilities

Accountancy provides a valuable foundation for all business functions and many top executives have an accountancy background. Most chief executive officers of public limited companies have some sort of accountancy qualification. Career pathways might include accountancy, actuarial studies, marketing, business or finance.  It would also be an important subject choice for those thinking of starting their own business. Earning potential is very high with this subject.