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Accounting A Level

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Getting Ahead

Accounting A Level at Havant Campus

A qualification in accounting will always be helpful, whether it’s used professionally or personally. This course will help 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 you can apply to real-life scenarios, developing the ability to solve problems logically, analyse data methodically, make reasoned choices and communicate effectively.

Did you know? In 2018, the average salary for an accountant in the UK was £62,042?! (Source: AccountancyAge)

Twenty, Ten and five pound notes in pile with two and one pound coins on top

Accounting involves new vocabulary with which you may not yet be familiar. A glossary is a list of words and their corresponding meanings. It helps you to understand words that are new to you. These words are listed in alphabetical order. Your task is to research the meaning of the 20 words listed below and to produce a word-processed glossary of these words, in a table as shown below. The first word has been completed for you.

You will need to save this work, as it will be of use to you throughout your Accounting course.

Glossary of Accounting

Word(s) Definition
Accounting The systematic recording, reporting and analysis of financial transactions of a business.

The words to be included in your glossary are:

  • Accounting
  • Asset
  • Capital
  • Cost of Sales
  • Non-current Assets
  • Non-current Liabilities
  • Profit/Loss for the Year
  • Current Assets
  • Current Liabilities
  • Drawings
  • Expenses
  • Purchases
  • Revenue
  • Statement of Financial Position
  • Gross Profit
  • Income Statement
  • Inventory
  • Liability
  • Trade Payables
  • Trade Receivables

In Accounting, you will be required to produce Financial Statements which consist of an Income Statement and a Statement of Financial Position. You will need to understand the terminology used (words from your glossary in Activity 1) and how to calculate them.

Subtract figures in brackets and add those that are not in brackets.
An example of each to help you is shown below.

Please complete the questions here, remembering to add your name and bring it to College at the start of term in September to submit to your Accounting lecturer when you start the A Level Accounting course.


Please note that Business students use the term Balance Sheet (UK term), whereas Accounting students call it the Statement of Financial Position (International accounting term). They are the same thing!

 

Double-entry bookkeeping is a fundamental part of accounting.

Watch the introductory video below covering the basics of double-entry bookkeeping.

Introduction to Double-Entry Bookkeeping

  1. It’s a word as old as time (almost) – the original word was translated from Latin origin.
  2. Archaeologists have discovered ancient clay accounting tokens dating from 4000 – 3000 BC.
  3. Accountants help catch bad guys – allegedly the FBI has over 1000 accountants deemed to be “special agents”.
  4. Some celebrities began their careers in accounting – including Mick Jagger of the Rolling Stones.
  5. It was an accountant who invented bubble gum.

Resources

Meet your Teachers

  • accounting teacher Karen Matthews

    Karen Matthews

We look forward to seeing you soon!

Your Learning Space

*This is a representation of your learning space and may not be the exact room you will be using

The teaching has been really good, I’ve loved all of my teachers, they’ve all been really nice and supportive.

Jodie Hook

My courses were all especially interesting, I thoroughly enjoyed all of them. All of my lecturers were extremely knowledgeable and I have learnt a lot from them.

Lottie Warren, A Level student

My experience at the College was great, it’s very different to school, and I think it’s a good step to going to university. The support was amazing, I loved all of my teachers, they helped me through everything. The College is friendly and you will succeed.

Heidi Adamson Brattland, A Level student