The Leaving Cert Accounting exam requires you to draw up a range of accounts and interpret multiple accounts which are presented to you. In the paper, you may be presented with break-even charts, margin of safety, budgetary controls and more - so you will need to be familiar with these topics before the exam. The syllabus is designed to get students to develop attention to detail and accuracy when dealing with financial information.
In this guide, we will explain how the Leaving Cert Accounting exam is structured and what you can expect on these papers. We also highlight some study tips and recommended resources to help you study for this paper.
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The Leaving Cert Accounting exam
Leaving Cert Accounting is studied at the Ordinary and Higher levels. At the Ordinary and Higher levels, the exam is split into three sections. Section 1 and 2 deal with financial accounting, while Section 3 involves management accounting. The Leaving Cert Accounting Exam paper is three hours in duration for both ordinary and higher levels. However, the level of detail required on the Higher Level paper requires a deeper treatment of the subject.
What to expect in Leaving Cert Accounting papers
The format of the Leaving Certificate Accounting examination changed for 2022. The total marks allocation for the Accounting exam is now 300 marks, instead of 400 marks. A few changes have been put in place for the 2022 paper, and the structure of the exam is now as follows:
Section 1: Financial Accounting – Final Accounts (120 marks)
For Section 1, you will be provided with four questions, and you will be asked to answer either Question 1, or any two of the remaining questions. The first question carries 120 marks, and the remaining three questions carry 40 marks each.
Section 1 is always a set of final accounts, and you should expect this question to involve a set of company, sole trader, manufacturing or departmental final accounts, each including a lot of adjustments. From 2021, an alternative Question 1 was introduced to provide additional choice within Question 1.
Section 2: Financial Accounting – Interpretation of Accounts (100 marks)
Section 2 will be based on Interpretation of Accounts, and you should expect to answer 1 question out of 3 options. There is a total of 100 marks available in this section.
Section 3: Management Accounting (80 marks)
There were no adjustments made to this section from 2021, and you will only need to answer one question in this section, out of a choice of two. Each question in this section is worth 80 marks.
How to revise for Leaving Cert Accounting exams
The Accounting exam is very driven by the syllabus for this subject, and it deals with aspects of business and social life which are not dealt with in other subjects in the Business Studies/Leaving Cert programme. It is therefore important to ensure you are confident on all topics in the syllabus. Here are a few tips on how to revise for your Accounting exam:
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Use sample and past exam papers, such as the Edco Accounting Leaving Cert exam papers to help you get a feel for the types of questions that are likely to come up. This will also allow you to familiarise yourself with the structure of the exam.
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Practice formulae and calculations to commit them to memory.
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Create a study plan and study topics one at a time rather than cramming them all together.
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Work on your core skills by starting with the basic concepts and formulas before moving on to more complex skills. This will give you a solid foundation to work through those trickier questions, even when the answer or solution isn’t immediately obvious when you first see the question.
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Practice active recall to stimulate your memory through consistently and repeatedly putting in the effort to test your knowledge and retrieve information.
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Use visual memory cues like flashcards and mind mapping if you struggle remembering the content of textbooks.
Edco Accounting exam papers
Edco Accounting exam papers are available for Higher and Ordinary level students to revise the subject and learn how to earn as many marks as possible on the final exam. As well as sample and past exam papers, these books include up-to-date guides to achieving better grades and exam paper analysis charts. In addition to these textbooks, there are other useful resources you can use to revise for your paper:
Other resources for revising Leaving Cert Accounting
Revise Wise – Leaving Cert – Accounting – Higher Level - These books have full-colour designs and are packed with revision notes, tips and guidance which has been written by subject experts. They include graded exercises and detailed solutions to support the development of your skills from basic to advanced.
Less Stress More Success - Leaving Cert - Accounting - Higher Level - This book provides expert tips on how to maximise your points in the exam, and features a concise revision guide covering the Higher Level course.
Graded Accounting questions - Higher Level - This book features exam-style questions, and provides the structured practice that all students need to succeed at Higher Level. Continual practice is emphasised throughout, and the questions have a progressive degree of difficulty to ensure the student remains engaged and suitably challenged.
- Accounting for Senior Cycle - New / Fourth Edition (2021) Accounting for Senior Cycle (4th edition), EDCO's best-selling Leaving Certificate Accounting textbook, has been revised to comprehensively cover all examinable material for Ordinary and Higher levels and is a highly engaging and exam-focused new text. The book is a fully updated textbook with new student-friendly and visually attractive colour-coded design and layout.
Modern Accounting – New Edition - The new and updated Modern Accounting is a dynamic textbook that incorporates a fresh, interactive approach to the teaching of Leaving Certificate Accounting, for both Higher and Ordinary Levels. This textbook incorporates a fresh and very practical approach to Leaving Certificate Accounting.