What Board do we do? AQA, A Level subject code: 7127
What is Accounting?
Accounting is known as the language of business. It is essential for the recording and presentation of business activities in the form of business accounts, financial reporting in the form of financial statements and the provision of relevant economic information for management decision-making and control. Accounting serves this purpose by identifying, classifying and summarising, and presenting financial information in order to facilitate decision-making and compliance with the law. It looks at ways in which businesses can maximise profits, manage costs and allocate resources effectively and efficiently.
What careers and University courses can Accounting lead to?
Studying Accounting will provide a student with one of the most sought-after skills in any business. An understanding of financial health is of utmost importance to any business and all firms employ the services of accountants to look after their financial affairs. Accounting knowledge can be very useful for those who hope to be an entrepreneur in the future, become a thriving finance professional or just lend a hand in the running of a family business.
A Level Accounting is relevant for students who want to pursue a degree in Accounting or Business Studies at university. Almost all Business and Finance degrees will have several Accounting modules in their programmes.
A Level Accounting is an asset for students who wish to pursue a professional qualification in Accounting from one of the six major accounting bodies in the UK. (See http://www.ccab.org.uk, http://www.cimaglobal.com and https://www.accaglobal.com/)
As a profession, accounting is one of the most preferred career paths and ranks amongst the highest in the UK, with the Big Four accounting firms featuring consistently in the top 10 of the Times Top 100 Graduate Employers rankings (see http://www.top100graduateemployers.com).
A finance background can also be of use if you aspire to work in a managerial role for any organisation in the future.
About 49% of the CEOs of FTSE 100 companies came from a financial background, either holding an accounting qualification or having held a previous finance role (www.accountingage.com).
Accounting at both Year 1 and Year 2 involves a study of both financial accounting and management accounting.