Here is a general overview of what students might expect from the A-Level Accounting (7127) course:
Introduction to financial accounting: This component of the course introduces students to the foundations of financial accounting. Topics might include double-entry bookkeeping, trial balances, and final accounts for sole traders.
Financial and management accounting: Building on the first component, this section of the course examines more complex accounting scenarios, including final accounts for partnerships and limited companies. Students will also be introduced to concepts of management accounting, such as costing and budgeting.
Further aspects of financial accounting: This part of the course dives deeper into financial accounting. Topics might include accounting standards, the conceptual framework of accounting, and the interpretation of financial statements.
Further aspects of management accounting: In the final component of the course, students might learn about more complex management accounting techniques, such as investment appraisal, and their role in business decision-making.
Assessment for A-Level Accounting (7127) usually involves written examinations. The AQA website provides the most up-to-date specifications, resources, and support for this A-Level subject.
Please remember that curriculum and course specifications can change, so it's essential to confirm this information with your educational institution or directly with AQA for the most accurate and current details.
Paper 1: Financial Accounting 1 and 2 (3 hours): This examination covers introductory topics in financial accounting such as the recording of financial information, preparing final accounts for sole traders, partnerships, and limited companies, events after the reporting period, and more. It also includes more advanced aspects of financial accounting like the conceptual framework of accounting, accounting standards, and interpretation and analysis of financial statements.
Paper 2: Financial and Management Accounting (3 hours): This exam covers elements of both financial and management accounting. It includes content such as budgeting, absorption and marginal costing, decision making, capital investment appraisal, and more.
Both exams typically include a mix of short answer questions, extended response questions, and questions requiring the preparation of financial statements or extracts of financial statements.