Subject Aims

• This subject aims to expose students to aspects of business and enterprise with a view to career and working life, additional studies in accounting or as a basis for further education.
• To offer a subject on the curriculum that is mainly of a practical application and which develops in each student numeracy and a knowledge and understanding of business and enterprise through the use of figures, computations and statistics.
• It aims to create an awareness of the business environment dimension in our lives and to provide each student with knowledge, understanding and skills leading to personal competence and responsible participation in this changing and challenging environment.

Rationale for Subject

Accounting has a very positive role to play in the general education of senior students. It fosters a unique combination of values, attitudes and skills within the senior cycle. Within the business studies familyAccounting has a niche of its own. The study of Accounting is invaluable and has a direct relevance to the present and future life of every young person, in that:

• It develops problem-solving and computational skills and an awareness and recognition of the consequences of error.
• It cultivates mental discipline, develops the powers of concentration and fosters critical thinking, logical organisation and orderly presentation.
• Accounting is of personal use and benefit to students whether they enter the work force immediately or proceed to third-level education and should they become involved in voluntary organisations.

Subject Topics / Syllabus Content

Topics studied include:

• Double-entry Bookkeeping
• Final Accounts of Sole Trader
• Club Accounts
• Accounts of Service Firms
• Farm Accounts
• Management Accounting
• Depreciation & Revaluation of Fixed Assets
• Cashflow Statements
• Financial Statement Analysis & Interpretation
• Published Accounts
• Cashflow Statements
• Tabular Statements
• Correction of Errors
• Suspense Accounts
• Cash & Production Budgeting

Assessment

The assessment element of the course comprises one final exam of three hours in duration for both higher and ordinary levels. Questions must be answered on both the financial and management accounting sections of the course, with students having a choice of questions within these sections.

Possible Career Options

• Accountancy
• Finance
• Marketing
• Actuarial Studies
• Entrepreneurship