A level Law

AQA A Levels are available for study anywhere in the world. 

Examinations must be taken in a registered UK exam centre. It is recommended students check with UK examining centres that the chosen exam is available.

Introduction

A qualification in Accounting will always be helpful – whether it’s used professionally or personally.

Accounting helps businesses in the measuring, monitoring and planning of their operations.

People skilled in Accounting should be able to tell whether or not the business is performing well financially, the strengths and weaknesses of the business and to communicate their results to the owners of the business.

Accounting is about recording, classifying and summarising data. A certain grade of judgement and good analysis and accounting techniques are very important.

This course helps you to understand the responsibilities of the Accountant and the impacts of their recommendations on the business and the wider environment.

You will build knowledge and understanding of key concepts, principles and techniques that they can apply to real-life scenarios, developing the ability to solve problems logically, analyse data methodically, make reasoned choices and communicate effectively. You will develop an understanding of the principles of ethical behaviour which inform the actions of all those working within an accounting environment.

The course is divided into eighteen units, which are of different length and difficulty. At the end of each unit there is a Tutor-Marked Assessment which, when completed, should be sent to your tutor.

By the end of the course, you must demonstrate a good understanding of the double entry model and accounting principles and concepts as these form the foundation of all financial accounting techniques. You will also need to demonstrate quantitative skills that are relevant to the subject.

As a student, you will be expected to demonstrate knowledge of the formulae used for computations, carrying out computations and use the results of computations to inform judgements, solve problems and make decisions. You must focus on developing your ability to write effectively so that they can report to stakeholders, making logical arguments and providing sound judgements based on analysis of available evidence taking account of financial and non-financial factors.

You are encouraged to keep up to date with financial news including announcements concerning the performance of leading UK businesses, and be given the opportunity to investigate their published accounts.

Entry RequirementsCourse ContentProgressionSections

A Level Accounting Entry Requirements

Although the A Level Accounting programmes build on the course content of GCSE, it is not necessary to have this qualification before undertaking an A-Level. However, in order to meet the demands of the course, it is recommended that candidates have literacy and communication skills equivalent to C or higher at GCSE. Please note that full tutor support is still provided throughout your course duration.

All students must be 16 years of age or above.

A Level Accounting Course Duration

2 years.

Study Hours Required

Approximately 350 hours.

Awarding Body

AQA

AQA A Levels are available for study anywhere in the world. Examinations must be taken in a registered UK exam centre. It is recommended students check with UK examining centres that the chosen exam is available.

Examination Information

Students are required to arrange and pay for their A Level Accounting examinations and manage the course work element if the subject requires this. Students must check the relevant examination board website for further information and final examination sitting dates for the specification.

All examinations are held during the May / June exam period of every year.

A Level Accounting Course Content

1.      An Introduction to the Role of the Accountant in Business

• The responsibilities of the Accountant within Business.
• The difference between financial accounting and management accounting and the purpose of each.
• The role of the Accountant in developing and overseeing accounting information systems to provide reliable and relevant information for both financial and management purposes.

2.      Types of Business Organisation

• Types of business organisations including different business ownership models.
• The associated benefits and risks and the impact on business reporting.
• Sources of finance for different forms of business organisation and the risks related to those.

3.      The Double Entry Model

• The double entry system including the recording of transactions from source documents in books of prime entry and ledger accounts; transferring accounts to income statements, balancing accounts and the preparation of statements of financial position.
• The recording of adjustments in ledger accounts and financial statements.
• Prepare and understand accounting records based on source documents and use the main books of prime entry and ledger accounts.
• Apply the double entry model in the preparation of financial statements for a range of business organisations.
• Prepare income statements (trading and profit and loss accounts) and statements of financial position (balance sheets) working from trial balances and additional information.
• Prepare statements of financial position (balance sheets) with subheadings.
• Make entries for simple adjustments for expense prepayments and accruals in ledger accounts and in income statements and statements of financial position.
• Make entries for irrecoverable debts in the sales ledger and financial statements.
• Make entries for depreciation in the income statement and statement of financial position.

4.      Verification of Accounting Records

• Verification of the double entry records.
• How to correct errors in double entry records.
• The effect of errors on profit calculations and statements of financial position.
• The benefits and limitations of verification techniques.

5.      Accounting Concepts used in the Preparation of Accounting Records

• General accounting concepts.
• The use of accounting concepts in a variety of situations.

6.      Preparation of Financial Statements of Sole Traders

• The use of concepts in the preparation of financial statements.
• How to prepare financial statements of sole traders from ledger accounts including adjustments from the application of accounting concepts.
• How to prepare income statements and statements of financial position from a trial balance including adjustments from the application of accounting concepts.

7.      Limited Company Accounts

• How to prepare the internal financial statements of limited liability companies.

8.      Analysis and Evaluation of Financial Information

• Calculation and interpretation of financial measures and ratios.
• Appraising business performance by using financial statements and ratios.
• The difference between cash and profits and the effect of transactions on profitability and liquidity.
• The limitations of financial statements and ratio analysis when assessing business performance.

9.      Budgeting

• The need for budgeting in business organisations.
• The benefits and limitations of budgeting and budgetary control.
• The use of accounting techniques in the preparation and analysis of budgets.
• How budgets are used in planning and control and the calculation and interpretation of variances.

10.  Marginal Costing

• Categorisation of costs by behaviour and understanding of terms.
• Calculation and interpretation of break-even point, interpreting break-even charts and the uses and limitations of break-even analysis methods.
• The use of marginal costing in decision making situations.

11.  Standard Costing and Variance Analysis

• The purpose, advantages and disadvantages of a standard costing system.
• Calculation and interpretation of variances.
• The interrelationship between variances.
• How to prepare statements and the use of accounting techniques to reconcile budgeted and actual figures.

12.  Absorption and Activity Based Costing

• The use of absorption costing to calculate the total cost of a product.
• The use of activity based costing (ABC) to calculate the total cost of a product.
• Use of absorption and ABC to calculate the selling price of a product.
• The benefits and limitations of absorption, ABC and marginal costing.

13.  Capital Investment Appraisal

• The calculation and use of cash flows in capital investment appraisal.
• Payback and net present value (discounted cash flow) of a capital project.
• The benefits and limitations of the payback and net present value methods of capital investment appraisal.
• The use of capital appraisal measures in the evaluation of projects.

14.  Accounting for Organisations with Incomplete Records

• The calculation of profit of an organisation where there are insufficient records to prepare income statements.
• How accounting techniques are applied in the preparation and analysis of financial statements for a business with incomplete records.
• The benefits and limitations of maintaining accounting records using different systems including single and double entry records.

15.  Partnership Accounts

• Prepare and comment on the financial statements of partnerships.
• Prepare capital and current accounts of partners.
• Account for changes in partnership.

16. Accounting for Limited Companies

• The use of accounting techniques and principles when drafting financial statements for limited companies (based on IAS1).
• Accounting for the revaluation of non-current assets.
• The difference between the issue of shares, a rights issue and a bonus issue, and recording the effect of such transactions in financial statements.
• The requirement to publish accounts and how these are used by a variety of stakeholders.
• The purpose and importance of the international accounting standards framework.

17. Interpretation, Analysis and Communication of Accounting Information

• How accounting techniques, measures and ratios are used to analyse and interpret accounting information (both financial and management) and the limitations of using financial statement and ratio analysis when assessing business performance.
• How performance is evaluated both internally and across accounting periods and externally in comparison to competitors.
• The difference between cash and profits and the effect of transactions on profitability and liquidity.
• The interests of stakeholders and importance of effective communication to both internal and external stakeholders.
• The impact, advantages and disadvantages of systems of recording data.
• The critical assessment of recommendations and their impact on stakeholders, the local and national economy and the environment.

18. The Impact of Ethical Considerations

• The fundamental principles of ethical behaviour.
• How the principles of ethical behaviour impact the behaviour of accounting professionals and organisations.
• The legal and regulatory frameworks which relate to the accounting sector, the importance of working within regulatory guidelines and the consequences of failing to do so.
• The role of professional bodies in establishing and enforcing codes of conduct.
• How to act ethically when working with clients, suppliers, colleagues and stakeholders and the importance of adhering to organisational and professional value, codes of practice and regulations.
• Appropriate courses of action to take if there is a suspicion that an unethical or illegal act has been, or may be, committed by an employer, colleague or client.

A Level Accounting Assessment

A Level Accounting Paper 1

What’s Assessed

Sections 1–8, 14–18 of the subject content

How it’s assessed

• Written exam: 3 hours

• 120 marks

• 50% of A-level

• Questions

Three Compulsory Sections:

• Section A has 10 multiple choice questions and several short answer questions. The section is worth 30 marks.

• Section B has two structured questions each worth 20 marks. The section is worth 40 marks.

• Section C has two extended answer questions each worth 25 marks. The section is worth 50 marks.

A Level Accounting Paper 2

What’s Assessed

Sections 1–3, 8–13, 17–18 of the subject content

How it’s assessed

• Written exam: 3 hours

• 120 marks

• 50% of A-level

• Questions

A-level exams and certification for this specification are available for the first time in May/June 2019 and then every May/June for the life of the specification.

Three Compulsory Sections:

• Section A has 10 multiple choice questions and several short answer questions. The section is worth 30 marks.

• Section B has two structured questions each worth 20 marks. The section is worth 40 marks.

• Section C has two extended answer questions each worth 25 marks. The section is worth 50 marks.

Before the qualification can be awarded, students must undertake both the assessments.

Progression

Our A Level Accounting programmes are eligible for UCAS points, making them a great choice for students aiming to progress to University. UCAS points are awarded according to the grade earned, please see below for details.

A levels are also widely recognised by employers and are useful for students looking to progress their careers or meet requirements for promotion.

UCAS Points Table

A* = 56
A = 48
B = 40
C = 32
D = 24
E = 16