Accounting -

Accounting is an essential element of any business and is studied at third 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 very 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 budget (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).

Text Books: Leaving Certificate Accounting (Revised Edition)
– Kevin O’Riordan (Folens) (Forms 5 & 6)
Taking Account – Sile Minogue ( (Form 6 only)

Year 5
Term 1
Introduction to Accounting
Double Entry Book-keeping
Accruals and Prepayments
Bad Debts/Bad Debt Recovered/Bad Debt Provision
Bank Reconciliation
Sole Trader Final Accounts
Incomplete Records
Terms 2 and 3
Incomplete Records continued
Control A/Cs
Correction of Errors and Suspense A/Cs
Limited Company Final Accounts
Manufacturing Firm Final Accounts
Departmental Accounts
Leaving Certificate Curriculum Summary 44
Tabular Statements

Year 6
Term 1
Limited Company Final Accounts – further adjustments
Introduction to Management Accounting
Product Costing
Marginal Costing
Interpretation of Accounts
Club Accounts
Terms 2 and3
Service Accounts
Farm Accounts
Published Accounts
Cashflow Statements
Conceptual Framework of Accounting

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.