Do you know that there are a total of 29 Accounting topics under the branch of financial accounting and cost and management accounting in the 2022 A-Level Accounting syllabus?
This explains why the Cambridge A-Level Accounting qualification is widely recognized by higher learning institutions worldwide due to the solid framework that the syllabus is built.
With great qualification, comes great grading scale.
Trust us, with the right review of the syllabus and some practical studying tips, you will be able to ace your A-Level Accounting papers!
What Are The Key Concepts That You Will Learn Through Your Cambridge A-Level Accounting?
First, let's look at the syllabus review.
The entire syllabus is structured and taught according to the five key concepts which we will discuss below.
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Business entity
Any topics pertaining to businesses will indicate the significance of the separation of the legal entity from the business owner. That being said, all accounting transactions and tabulations must only reflect the business operations and not include any expenditure or personal assets of the business owner.
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Consistency
Every financial transaction that is documented needs to be treated and managed according to the fixed set of accounting principles and rules. This allows account comparison and monitoring to be done easily over the years. Practising consistency in the field of accounting will make the process of creating annual financial reports and budget formation easier for businesses.
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A true and fair view
Students are taught to tabulate various financial statements for different businesses and settings to provide a standardized, true and fair reflection of the business to both internal and external stakeholders. This will help the stakeholders to make better financial decisions in the future.
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Money measurement
The data that is recorded in all the accounts should only indicate transactions in the monetary form. This includes any form of buying and selling of assets, spending on employees' wages and a joint monetary media investment worth RM5 million with an overseas corporation. In other words, the transactions must be quantifiable and tangible.
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Duality (double-entry)
This concept forms one of the core foundations of accounting. The simplest example is the concepts of debit (left side of the account) and credit (right side of the account) when we are performing a simple T- account tabulation.
When you apply these key concepts while learning this subject, you will look at the topics in a different light and be more motivated to ace all the papers in A-Level Accounting.
4 Tips To Make The Best Notes For Cambridge A-Level Accounting Studies
Trapped in a clueless situation because you are unsure how to craft the best notes for your A-Level Accounting?
We got the perfect solution for you. DIVIDE AND CONQUER!
It's best to break down your notes into various parts and review them accordingly.
Tip 1: Identify the key accounting concepts and principles and their definitions
You can start by reviewing the glossary section of your A-Level Accounting textbooks to have an idea of how to organize the concepts and principles, whether alphabetically or according to the various chapters.
For instance, you can write down the definition and significance of traditional costing methods such as absorption costing and marginal costing under the topic of cost and management accounting.
Photo by cottonbro (Pexels)
Tip 2: Make comparison tables for opposing concepts
In your A-Level Accounting papers, you will come across a few questions under this category.
The questions will either ask you to select the pairing with the right differences (multiple choice questions) or explain the differences between two accounting concepts in detail (structured questions).
Another popular question under this category is to discuss the advantages and disadvantages of a particular accounting concept. It's easier to remember and recall them when you divide your points in a table form.
Make sure you keep your points simple and concise.
Example of the table: Discuss the advantages and disadvantages of introducing a computerised accounting system [Financial Accounting A-Level syllabus]
| Advantages of introducing a computerised accounting system | Disadvantages of introducing a computerised accounting system |
|---|---|
| Points | Points |
Tip 3: Create a format template for all the taught accounting documents
You'll never know what financial document will be asked for in your Paper 2 and Paper 3, so it is best to compile them and study their format carefully.
Some of the financial statements/accounts that you must master the format include:
- Income statement
- Statement of financial position
- Simple cash flows
- Bank reconciliation statement
- Ledger accounts and journal entries and many more
Tip 4: List down the formulas and important ratios for calculation
You can list down the ratios according to chapters.
For example, under the subtopic, Analysis and communication of accounting information, the ratios that you need to learn are:
- Earnings per share
- Price earnings ratio
- Dividend yield
- Dividend cover
- Dividend per share
- Working capital cycle (in days)
- Net working assets to revenue (sales)
- Income gearing
- Gearing
| Ratio | Formula |
|---|---|
| Income Gearing | Interest Expense Divide by Profit Before Interest and Tax (PBIT) × 100 |
| Earnings per share | Net Profit – Preference Share Dividend Divide by Number of issued Ordinary Shares |
| Price Earnings Ratio | Market Price per share Divide By Earnings per share |
| Dividend per share | Ordinary dividend paid Divide By Number of issued Ordinary Shares |
This way, you are able to memorize them better when you are revising. Don't forget to explore these A-Level Accounting learning resources before your exams too!
How To Track Your Progress While Learning The A-Level Accounting Syllabus?
Having to study 29 topics can be overwhelming at times. It could be hard to tell if you have truly mastered all of them when all you do is just review them over and over again.
Fret not, here are 3 good ways to track your progress for every chapter that you are studying for your A-Level Accounting.
a) Check if you can fulfil the learning outcomes of every subtopic
You can call it a cheat sheet or a checklist, but what matters is it is a comprehensive guide to help you when you are going through the chapters during your revision.
We're talking about the learning outcomes that are listed alongside the covered topics in the A-Level Accounting syllabus content. You can download the document from the Cambridge Assessment International Education website.
Here is an example of the learning outcomes.
| Topics | Learning Outcomes |
|---|---|
| Reconciliation and verification | Candidates should understand the need to reconcile and verify ledger accounts using documentation from internal and external sources. Candidates should be able to: • prepare a bank reconciliation statement from relevant information • prepare ledger accounts and journal entries to correct errors using a suspense account and record the effects of these in the financial statements • prepare sales and purchase ledger control accounts • reconcile control accounts and ledgers • outline the uses and limitations of control accounts. |
| The application of accounting to business planning | Candidates should understand the benefit to business planning by the use of accounting data. Candidates should be able to: • explain the need for a business to plan for the future • explain why organisations prepare budgets and the benefits they bring to the planning process • explain the advantages and disadvantages of budgetary control, including both financial and non-financial factors. |
b) Teach a friend what you have just learnt
Once you have revised the topics, you can share what you have learnt by "teaching" your friend. Think of it as a fun way to repeat your learning process.
In between, your friend could even ask you questions and if you answer them, it proves that you have mastered the topics!
c) Review your answers with a tutor after completing past year papers' questions
We're pretty sure that you have started compiling A-Level Accounting past year questions and you might even aim to complete them consistently until your final exams.
That's a great goal anyways!
It could be better.
That's if you have someone to guide you and grade your work immediately.
Instead of doing all the papers on your own, why not hire an Accounting tutor to give you personalised lessons and help you to take your learning to the next level?
You can find an experienced and reliable Accounting tutor at Superprof where you can easily browse through many tutors' profiles before hiring one.
All you need to do is just follow these steps.
- Head to the Superprof Malaysia home page
- Key in "Accounting" and select your current location/ online if you prefer online lessons
- Continue to filter your search results by adjusting the tabs for your rate and learning level
- Check through key important information such as teaching experience, hourly rate, teaching methodology and hourly rate
- Subscribe to a Student Pass and get access to an unlimited number of tutors at just the price of RM25
- Connect with the tutor directly via their profile and discuss with them the payment and lesson details
- Get ready for your first lesson
It is really that convenient!
Familiarize yourself with the latest examination format for A-Level Accounting.
Improving Your A-Level Accounting Grades When You Analyse Past Years' Examiner Reports For Teachers
We've got the final tip to score your A-Level Accounting!
Do a simple search on Google on the examination report for A-Level Accounting. You're in for a bonus treat.
The examiner reports will allow you to look at the past year questions that you have completed from a different point of view and even let you identify certain blind spots that you had while you were doing the questions.
Nevertheless, two things are certain when you analyse the examiner reports consistently before you sit for your actual exam.
1. You get to plan your answers to be more specific and comprehensive
When you are reading the general comments of the examiners, you will discover the commonly made mistakes by candidates when they are answering structured questions that require elaboration.
Here are some sample comments:
- In written questions, candidates should make sure that they provide sufficient development to their answers.
- Very few candidates were able to explain the difference between overhead allocation and overhead apportionment. Most simply stated that one allocated and one apportioned.
- Many answers were too vague, missing the point that service departments are indirectly involved in production.
2. You will be more careful in using the right formulas and include step-by-step workings for calculation questions
On the other hand, there are also tips that you can learn from when it comes to calculation questions.
- Some candidates did not give their answers to two decimal places as was required.
- Few candidates did not calculate the earnings per share correctly as they omitted the interest charged on the debenture from their calculation of the earnings.
- Candidates should always provide clear workings when answering computational questions. Marks will always be awarded for valid workings.
With all these tips, you'll soon be a master of the marking scheme of all the A-Level Accounting papers. Get that A!
Develop a passion for learning. If you do, you will never cease to grow.- Anthony T.D Angelo
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