Transition Year Accounting:
The Role of the Accountant
Accounting students in TY are encouraged to explore the career that is Accounting. Students study and research topical issues in accounting.
Students in TY accounting are encouraged to become aware of topical issues in the world of finance.
Students will explore the concept of Expenses, Assets, Revenues and Liabilities
Double Entry accounting will be analysed
Excel will be taught for one hour a week giving students a tangible skill for work placements in TY. Content covered in the Excel classes will reflect the material covered above.
Leaving Certificate Accounting:
Accounting at senior cycle is divided into two sections
- Financial Accounting
- Management Accounting
Within Financial Accounting students will study accounts such as those listed below
Trading Profit and Loss ,Balance Sheet ,Published Accounts with accompanying notes, Cash flow Statements, Club accounts, Service Firm Accounts,Farm Accounts, Control accounts, Depreciation and Revaluation of assets and Ratio Analysis.
The Management Accounting Section of the paper examines Costing and Budgeting
What is needed to be successful
Students will not get a good grade by “learning off” where figures go or reading through notes. Questions need to be practiced over and over again.
Students must be confident in dealing with any adjustment to the accounts that is on the paper.Notes should be made on the specific treatment of each adjustment
Headings and Titles
No abbreviations in titles on accounts
Accuracy in Headings
Approach to Questions
Students must be methodical and disciplined in their approach
Follow the same step by step procedure each time you do a question
– e.g. Question 1 Working 1 will always be Closing stock
Understanding is Essential
To achieve a high Honours grade understanding of the figure is needed rather than just knowing how to calculate it.
Students taking Accounting at senior level in the College can expect to work extremely hard but the rewards are great for students who are organised and pay attention to detail with their work.
Accounting is a subject that teaches students to be organised and structured in their approach to study and exams. It gives our students a great advantage in their future studies. Several third level courses have accounting modules within them and senior Accounting gives students a solid footing.
Sixth year accounting students are provided with an exam practice class. Students sit a leaving certificate question under exam conditions each week. This trains students to answer questions within the allotted time. Students have enjoyed great success as a result of this in recent years.