Ireland · NCCA Curriculum Specifications
5th Year Accounting.
The Leaving Certificate Accounting syllabus for Year 5 introduces students to the fundamental principles of financial and management accounting. It develops students' capacity to prepare, interpret, and analyse financial statements, fostering critical thinking and decision-making skills essential for modern business environments.
01Conceptual Framework and Double-Entry Bookkeeping
An introduction to the theoretical framework of accounting and the practical application of the double-entry system.
An overview of the purpose of accounting, the role of the accountant, and fundamental accounting concepts.
Practical application of double-entry bookkeeping, including recording transactions in ledger accounts.
Extracting a trial balance to check arithmetical accuracy and correcting errors using suspense accounts.
02Preparation of Financial Statements
Developing the skills to prepare comprehensive end-of-year financial statements for sole traders.
Preparation of the Trading, Profit and Loss Account for sole traders to determine gross and net profit.
Structuring and preparing a Balance Sheet to show the financial position of a sole trader at a specific date.
Incorporating accruals, prepayments, depreciation, and bad debts into financial statements.
03Accounting for Different Organisations
Exploring the accounting requirements and statement preparation for non-profit organisations, companies, and incomplete records.
Preparing receipts and payments accounts, and income and expenditure accounts for non-profit organisations.
Understanding the capital structure of limited companies and preparing basic company financial statements.
Ascertaining profit or loss and preparing financial statements from incomplete accounting records.
04Financial Analysis and Interpretation
Analysing financial statements using ratios and cash flow statements to evaluate business performance.
Calculating and interpreting profitability, liquidity, and solvency ratios to assess business performance.
Analysing financial data to make informed recommendations to various stakeholders.
Preparing cash flow statements to understand the inflows and outflows of cash within a business.
05Introduction to Management Accounting
Examining cost behaviour, product costing, and marginal costing to support internal management decisions.
Identifying different types of costs and understanding how they behave with changes in activity levels.
Allocating and apportioning overheads to determine the total cost of a product or service.
Using marginal costing techniques for break-even analysis and short-term decision making.