Accounting

Introduction

Accounting is an essential element of any business and is studied at 3rd level as part of all business courses.  The syllabus is divided into two sections, financial accounting and management accounting.  All companies are obliged by law to prepare accounts.  Financial accounting exposes the students to the principles of double entry and the preparation of final accounts using accounting standards.  Students will be able to interpret accounts, prepare cash flow statements and learn how to present accounts of clubs or societies as well as other relevant areas.  Management accounting on the other hand is essential in helping managers make very important decisions which will affect the future of their businesses.  It is divided into costing and budgeting.  Costing examines product costing (i.e. how businesses decide what price to charge for their products etc.) and marginal costing

(i.e. how costs, selling prices or volume changes affect profits.)  Budgeting looks at cash budgets (i.e. money coming in and going out) and functional budgets (i.e. what the company hopes to achieve in different areas of their business).

Assessment

The exam is 3 hours for both Ordinary and Higher levels and is divided into 3 sections – two sections cover Financial Accounting and one covers Management Accounting.

5th Year

6th Year

Useful Links

https://www.curriculumonline.ie/Senior-cycle/Senior-Cycle-Subjects/Accounting/