Economics

SUBJECT: Accounting

What is this subject all about at Senior Cycle?

The course looks at Financial and Management Accounting principles. Students learn how to use accounting skills, such as Double Entry, to complete Ledger Accounts, Final Accounts and Budgets. It is a practical subject, whereby students are expected to practise questions on a continuous basis to become proficient in the key skills.

Do I have to have studied this subject at Junior Cycle in order to do it at Senior Cycle?

It is preferable for students to have studied Junior Cycle Business, having completed Budgets, Analysed Cashbooks, Ledgers and Trading, Profit and Loss accounts. Junior Cycle Business gives students a basic introduction to the skill of Double Entry, without which students may find the concept of Accounting Principals difficult.

Will learning this subject at Senior Cycle be different to what I studied at Junior Cycle?

Accounting at Senior Cycle builds upon the basic accounting principles practised in Junior Cycle Business – Finance in Action. The topics covered in Senior Cycle will be more extensive and detailed, such as Debtors Control Accounts, Interpretation of Accounts, and Correction of Errors.

I will enjoy this subject if…

» You are a logical thinker. » You enjoy detailed work and keeping your notes in an organised manner. » You enjoyed JC Business, especially

Finance in Action or Financial Maths topics and calculating pay slips.

I will succeed at this subject if…

» You work hard from the beginning, accepting that it is a practical subject that must be practised consistently. » You are willing to engage in weekly revision in order to develop your skills as an accountant in practice.

This subject will be useful for a career in…

The Financial Sector, such as Banking, Financial Advisor, Accountant, Actuary, Stockbroker, Enterprise, Retail, Corporate Finance…etc.

Assessment?

The subject is assessed in a final exam in the Leaving Certificate. It comprises of one paper, broken down into 3 sections; Section 1 & 2 is based on Financial Accounting, Section 3 is based on Management Accounting. The exam is 3 hours in length and worth 400 marks.