Accounting

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					Accounting


Accounting is concerned with collecting, analysing, summarising and presenting financial
data in order to comply with company legislation and assist decision making by
management. Far from being dry and boring, accounting is at the very heart of every
business activity and is a rewarding and challenging subject to study.

The course starts with basic bookkeeping techniques and develops to cover a wide range
of topics. At the end of the course, the successful student will have acquired a very sound
knowledge of accounting principles and will be able to solve some quite complex
accounting problems.

It is not necessary for students to have studied Accounting before commencing work on
this course. No prior knowledge of accounting is necessary but students should be
comfortable with figures and data and be able to write logical, well-presented reports.

This course lays an appropriate foundation for further study of Accounting or related
subjects in higher education. In addition, it provides a worthwhile course for students of
various ages and from diverse backgrounds in terms of general education and lifelong
learning.




COMPLEMENTARY SUBJECTS

Accounting combines well with a number of other subjects. The related disciplines of
Business Studies, Economics, Law and Mathematics are obvious. Students looking for a
broader programme have often included Accounting with the study of a language, or with
science subjects; this approach mirrors some of the developments at university where
language, science and engineering courses often include aspects of Business
Management (optional or compulsory).
AS

Unit 1 – ACCN01
Introduction to financial accounting

       Purposes of accounting
       Accounting records – subsidiary books and ledger accounts
       Limitations of the trial balance
       Control accounts
       Suspense accounts
       Trading and profit and loss accounts and balance sheets
       Prepayments and accruals
       Depreciation – straight-line method
       Bad debts
       Profit correction

Assessment

       Examination length: 1hr 30 mins
       Four compulsory questions each carrying a variable number of marks.
       Total for paper: 80 marks
       Percentage of total GCE marks: 25%

Availability

       January and June

Unit 2 – ACCN02
Financial and management accounting

       Types of business organisation
       Accounting concepts
       Bad debts recovered and provision for doubtful debts
       Income due and received in advance
       Depreciation – reducing balance method
       Disposal of fixed assets
       Capital and revenue expenditure and income
       Limited liability
       Shares, reserves and loan capital
       Dividends
       Revaluation of fixed assets
       Rights issues and bonus issues
       Ratio analysis
       Benefits and limitations of budgets
       Cash budgets
       Impact of ICT on accounting
Assessment

       Examination length: 1hr 30 mins
       Four compulsory questions each carrying a variable number of marks.
       Total for paper: 80 marks
       Percentage of total GCE marks: 25%

Availability

       January and June

A2

Unit 3 – ACCN3
Further aspects of financial accounting

       Sources of finance
       Incomplete records
       Partnership accounts
       Limited companies
       Accounting standards
       Stock valuation

Assessment

       Examination length: 2 hrs
       Four compulsory questions each carrying a variable number of marks.
       Total for paper: 90 marks
       Percentage of total GCE marks: 25%

Availability

       January and June
Unit 4 – ACCN4
Further aspects of management accounting

       Manufacturing accounts
       Marginal, absorption and activity based costing
       Standard costing and variance analysis
       Investment appraisal
       Budgeting – purchases, sales, production, labour, debtor and creditor budgets
       Social accounting

Assessment

       Examination length: 2 hrs
       Four compulsory questions each carrying a variable number of marks.
       Total for paper: 90 marks
       Percentage of total GCE marks: 25%

Availability

        January and June




READING / TEXTS

AQA AS Accounting Student’s book – David Austen & Peter Hailstone, Nelson Thornes
(ISBN 978-0-7487-9869-8)

AQA A2 Accounting Student’s book – Claire Merrills & Jacqueline Halls-Bryan, Nelson
Thornes (ISBN 978-0-7487- 9870-4))