A Level Accounting is a very practical course that focuses on how a business records its financial transactions. It is primarily aimed at those students who would like to pursue a career dealing with the financial aspects of a business. It also appeals to those students who would like to work for themselves as it provides a solid understanding of how a business manages its money. The course helps students to develop knowledge and understanding of the purposes of accounting procedures and apply them to a variety of general accounting problems.
The aim of the course is to provide students with a detailed understanding of the accounting systems for different types of business organisations. This includes the preparation, interpretation, analysis and communication of accounting information. It is not necessary for students to have studied GCSE Accounting and no prior knowledge of accounting is necessary. The course looks at both Financial and Management accounting.
You can expect to study:
- Financial Accounting: Book-keeping to the trial balance and verifying the accuracy of the ledgers
- Financial Accounting: Preparation of the Income Statement and Balance Sheet for sole traders, partnerships and Limited Companies
- Financial Accounting: Ratio analysis and interpretation of the accounts
- Management Accounting: Budgeting and variance analysis
- Management Accounting: Costing techniques
- Management Accounting: Social and ethical considerations
Accountancy is taken with another 2 or 3 A Levels or Level 3 BTECs. It works well with any other subject. Business and Economics are common choices but it is advisable not to do both. Accounting firms like to employ well-rounded individuals, so a written-based subject is a sensible option.