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A-level Accounting₇₁₂₇

A-level Accounting Specification Specification for first teaching in 2017

A-level Accounting Specification Specification for first teaching in 2017

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Content	Additional information
The use of accounting techniques and principles when drafting financial statements for limited companies (based on IAS1).	Financial statements include those listed in Limited company accounts and: statements of cash flow (in accordance with IAS7 using the indirect method) schedules of non-current assets. Note: the financial statements of a group of companies will not be examined. Statement of comprehensive income will not be examined.
Accounting for the revaluation of non-current assets.
The difference between the issue of shares, a rights issue and a bonus issue, and recording the effect of such transactions in financial statements.
The requirement to publish accounts and how these are used by a variety of stakeholders.	The requirement to publish accounts could include: the reasons for publishing accounts benefits and limitations of published accounts the main elements in published accounts and the purpose of each as required by: IAS1 Companies Acts. the limitations of published accounts.
The purpose and importance of the international accounting standards framework.	Note: specific standards will not be examined (other than in reference to the IAS1 and IAS7 mentioned above).