Leaving Certificate Accounting

Rob - Higher Level

If there is a way to NOT do a Leaving Certificate exam, I did it today. I was revising theory up until twenty minutes before my exam and on reaching my exam centre I saw a big group of third years clutching T-squares. Presuming they were now using our exam centre, I moved down to the other sixth year centre and sat down with my classmates. The paper and exam booklets were handed out, I skimmed through the pages and was happy enough to see the topics I had revised were there. It was then I was called out of the exam centre as I was in the wrong one - 5 minutes into the exam. I raced down the hall with the stationery I had on my table (including a biro running tediously low on blue ink) and then had to restart the exam in this exam centre. Great start Rob!I decided to start myself off on depreciation, a topic I've always liked. This year the question had a few extra parts including having a scrap value of 5%. I took this into account and filled out my table and in my exam state I began to convince myself I was going wrong somewhere. Even though it said to round to decimals, I convinced myself I was going wrong and so abandoned the question.I was now 20 minutes into an alright tight time-wise exam without having a single question done. I ended up racing through the rest of my questions. My cash flow didn't balance and I ended up doing Question 5 (which I usually avoid like the plague).On a more positive note, I was quite happy with my tabular statement and question 9. The theory on all questions was what I had been expecting, so hopefully I've gained marks there.Overall I'm quite disappointed with this exam. I knew the information but on the day I made bad choices and panicked under time constraints. I had been looking for an A1 with Accounting, but right now I'd be happy with a B in any form.2 more exams left, I'm feeling a little disheartened and burned out after all that. Let's hope Chemistry is nice (it never is!) :)

Dáire - Higher Level

The accounting paper was okay. I answered questions 1, 5, 7 and 9.Question 1 was a company final account, I was delighted when I saw it, being the easiest. That being said I still didn't get it to balance, I was a fair bit off. The interpretation of accounts question, question 5, was standard enough. Nothing unusual about the cash budget, question 9, or the incomplete records, question 7.I started with question 9 to build up my confidence because I'm not great at accounting. I like the cash budgets. I then did question 1, I still have never balanced one on my own. I took a good while to do those questions and I put myself under pressure to get the last 2 done in time. Thankfully, I got all the questions answered and hopefully mostly correct.I feel the exam went well, but I would advise for prospective students to set a time plan and follow it. There really isn't much time to spare in the allocated 3 hours. I was flat out until the end, and I was conscious of being the only person in the room for the last hour.I was prepared for everything that came up, which was relieving, to say the least.Please note: Blog posts reflect the opinion of the author and not necessarily the opinion of the Irish Second-Level Students’ Union.

LC Accounting

Ailbhe (Higher Level)

Ah the last exam has come and gone.I have never been so happy in my entire life!And to make matters even better accounting went surprisingly well! :D I spent my weekend alternating at a ratio of 90:1 sun to study.By the time I woke up this morning, I cared so little about the exam that I even pressed the snooze button on my alarm. (What a rebel, I know!) Waiting outside the exam hall, the small class that is accounting was awash with relaxation. This tranquilising atmosphere hedonised by the 25 degree heat was diluted when someone voiced their concern-  "OMG IMAGINE IF INCOMPLETE CAME UP!!!" Suddenly, the nonchalant sun worshippers were in heated debates about predicitions "No way man, not farm""If marginal costing doesn't make a show, I can kiss my first choice goodbye""Tab couldn't come up. Could it?" Thankfully once the exam paper sailed onto my desk all calm was restored. That was until we flicked to questions 8 and 9. Where was marginal? Cash Budgeting? What is this? Fortunately I had myself covered should this situation arise, unfortunately some of my friends weren't so lucky. Cash Flow Depreciation and Control made up the first section. I answered all questions. I wasn't too keen on the Depreciation as it used the lesser practiced reducing balance method which I wasn't too familair with. My Suspense and Service questions from section 2 both balanced after some probing and prodding of figures. Hopefully this means I got them correct. However in the mocks my Suspense question deceptively still balanced even though I got it wrong. I found the theory slightly difficult. It was new and deviated from previous questions. This, coupled with the fact that I immensely dislike the world of business and understand none of its mumbo jumbo jargon, left me slightly worried. But hey, I dont have to think about it until the 18th of August. Thanks for reading!Ailbhe! :D