Accounting 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.
Topics covered include: 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.
Accounting provides students with the knowledge, understanding and skills in accounting and financial management necessary for managing personal and basic company accounts. The learning experiences in accounting develop students’ organisational, logical thinking, planning and problem-solving skills for their future life, work and study. It also develops their numeracy skills within the context of business and enterprise.
Why Study Accounting?
For those considering studying accounting, actuarial studies or finance after the Leaving Certificate it would be unwise to leave Accounting out of their subject choice. It would also be an important subject choice for those thinking of starting their own business. While not required specifically for studying any third level college course, it would be really recommended if Accountancy is the career path you want to follow.
What kind of Student would Accounting suit?
Commonly seen as the mathematical side of business, accounting attracts students who like working with numbers. It teaches students the bookkeeping side of business but delves deeper, teaching students to analyse 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.
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.
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.
Accountancy provides a valuable foundation for all business functions and many top executives have an accountancy background.
Career pathways might include:
Accountant, Internal Auditor, Financial Planner, Tax Attorney, Accounting Clerk, Tax Consultant, Budget Analyst, Bookkeeper, Actuarial Studies, Marketing, Business or Finance, Teaching,
It would also be an important subject choice for those thinking of starting their own business.