The course consists of 6 units. The first three units are taken in Year 12 and make up the AS level. The further 3 units are taken in Year 13 to make up the full ‘A’ level (A2).

Summary of Subject Content

Unit 1 – The Accounting Information System

• Accounting records
• Recording VAT
• Verification of accounting records
• Trading and profit loss accounts, balance sheets

Unit 2 – Determination of Income

• Accounting principles, concepts and conventions
• Capital and revenue income and expenditure, depreciation, disposal of fixed assets
• Stock valuation
• Final accounts and balance sheets of manufacturing organizations and limited companies
• Limited liability, capital structure of limited companies

Unit 3 – Introduction to Management Accounting and Decision-Making

• Ratio analysis
• Types of costs, marginal costing, contribution
• Break-even analysis
• Budgeting
• Social accounting

Unit 4 – further Aspects of Financial Accounting

• Incomplete records
• Non-profit-making organizations
• Partnership accounts
• Valuation of assets
• Sources of finance

Unit 5 – Published Accounts of Limited Companies

• Requirements of user groups
• Rights issues, bonus issues
• Published accounts and ratio analysis
• Accounting standards

Unit 6 – Further Aspects of Management Accounting

• Absorption costing, marginal costing and decision-making
• Standard costing and variance analysis
• Capital investment appraisal
• Other factors affecting decision-making

Each of the AS units are assessed by way of a 1 hour examination. Each of the A2 units are assessed by way of a 1 ¼ hour examination. There is no coursework!!!