What is Accounting?
Accounting is known as the language of business. It is essential for the recording and presentation of business activities in the form of business accounts, financial reporting in the form of financial statements and the provision of relevant economic information for management decision making and control. Accounting serves this purpose by identifying, classifying and summarising, and presenting financial information in order to facilitate decision making and compliance with the law. It looks at ways in which businesses can maximise profits, manage costs and allocate resources effectively and efficiently.
Which subjects combine well with Accounting?
Accounting combines well with Mathematics and Business Studies. It may also complement Sociology and Law.
What careers and University courses can Accounting lead to?
Studying Accounting will provide a student with one of the most sought after skills in any business. An understanding of the financial health is of utmost importance to any business and all businesses employ the services of accountants to look after their financial affairs. Accounting knowledge can be very useful for you if you decide to be an entrepreneur in future, become a thriving finance professional or just lend a hand in the running of your family business.
A level Accounting is relevant for students who want to pursue a degree in Accounting or Business Studies at university. Almost all such degrees may have several Accounting modules in their programmes.
A level Accounting is a must for students who wish to pursue a professional qualification in accountancy from one of the six major accountancy bodies in the UK.(See http://www.ccab.org.uk/ and http://www.cimaglobal.com/ ) As a profession, accountancy ranks amongst the highest in the UK, with the Big Four accountancy firms featuring consistently in the top 10 of the Times Top 100 Graduate Employers rankings (see http://www.top100graduateemployers.com/ ).
A finance background can also be of use if you aspire to work in a managerial role for any organisation in the future. About 49% of the CEOs of FTSE 100 companies came from a financial background either holding an accountancy qualification or having held a previous finance role.
Accounting at both AS and A2 levels involve a study of both financial accounting and management accounting.
What is in A-level Accounting syllabus?
– A-level Accounting is a course that helps you understand the measurement of an organization’s economic performance and communicate this information to a wide range of users, including investors, creditors, management, and other stakeholders. What is in A-level Accounting syllabus?
Why should study A-level Accounting?
Accounting is a course that helps you understand accounting applications and accounting responsibilities in areas such as financial accounting, cost accounting, and management. The course helps students understand and show how to apply, analyze and evaluate accounting information to make business decisions and communicate the information to stakeholders.
The course not only helps students develop an understanding of how to plan, budget, and manage financial resources, but also applies critical analysis and evaluation of accounting policies and practices.
A-level Accounting is the ideal foundation for further study in accounting or related disciplines. Accounting helps you understand how accounting information is used to make business decisions and lays the groundwork for a stronger and deeper research foundation.
What is in A-level Accounting syllabus?
Different from the program in IGCSE, A-level Accounting includes 2 units:
Unit 1: Financial Accounting
1.1. The accounting cycle (AS Level)
1.2. Accounting for non-current assets (AS Level)
1.3. Reconciliation and verification (AS Level)
1.4. Preparation of financial statements (AS Level)
1.5. Analysis and communication of accounting information to stakeholders (AS Level)
1.6. Preparation of financial statements (A-level)
1.7. Business purchase and merger (A-level)
1.8. Consignment and joint venture accounts (A-level)
1.9. Computerised accounting systems (A-level)
1.10. Analysis and communication of accounting information (A-level)
Unit 2: Cost and Management Accounting
2.1. Costing for materials and labour (AS Level)
2.2. Traditional costing methods (AS Level)
2.3. The application of accounting to business planning (AS Level)
2.4. Activity based costing (ABC) (A-level)
2.5. Budgeting and budgetary control (A-level)
2.6. Standard costing (A-level)
2.7. Investment appraisal (A-level)
Key concepts of A-level Accounting include:
- A true and fair view
- Duality (double-entry)
- Business entity
- Money measurement
How to study A-level Accounting effectively?
After you understand “what is in A-level Accounting syllabus”, let’s start conquering this subject. So what are the elements required to do well in this subject? Here are some skills and traits that will help you succeed in this subject at any level:
- Master knowledge: You must be really sure of your professional knowledge and thorough understanding of each topic in the subject so that you have an appropriate learning orientation. A subject with a lot of specialized terms causes many difficulties, so it is easy for students to get frustrated in the learning process if you have a passion and desire with the subject.
- Note: While studying, you need to note down the main features and content of the lesson, this method will make it easier and more effective to review old lessons. Note that in the process of taking notes, you should note important issues and need to overcome those points.
- Schedule timetable: To be able to study well, everyone needs to have a separate timetable to arrange for studying. The time factor is always the deciding factor for effective learning. If you do not arrange your time properly, your study efficiency will definitely decrease.
- Practice: The most effective learning method is to apply the knowledge learned to practice past paper. You can practice with a tutor or study in groups to work together, giving comments and corrections to your work to get a learning experience…
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