Accounting (H): A testing but manageable and fair paper

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Reaction to Leaving Certificate 2022 Accounting (Higher Level) by John Taylor, Accounting teacher at The Institute of Education.

Overall, this was a testing but manageable and fair paper.

Section 1:

In question 1, the two final account questions consisted of a limited company (as expected) and a limited company including manufacturing account.

Neither was overly long and the adjustments in both were very manageable and had all been seen before in previous questions.

The three optional 60-mark questions consisted of Cash Flow Statements, Correction of Errors and Revaluation of Fixed Assets.

There were no major surprises here and students attempting this option would have been pleased. The theory element to these questions was very straightforward. The use of credit notes sent and received in error (iv) of question 3 required some thinking about but overall, it was a nice errors question.

Section 2:

The three questions in this section consisted of Interpretation of Accounts (guaranteed), Incomplete Records and Club Accounts. Students only had to attempt one question from this section again this year.

Question 5b concerned the bank manager, although the debenture holders may have been a more likely prospect. The theory element in part c was very manageable.

Question 6 on incomplete records was anticipated with the Net Profit method asked this time. The theory element in part c was testing.

Question 7 on club accounts was a very nice question. The adjustment (vi) was testing and required students to know how revenue and capital items are treated in the final accounts. Again, the theory element was very straightforward.

Section 3:

This section on management/cost accounting, required students to attempt one question on either Costing or Budgeting.

The job costing question was very easy and straightforward and should have posed no problems.

Question 9 was on production budgeting and was very similar in style to previously asked questions.

Students may have been surprised that cash budgeting was not asked here.