In line with one of the basic principles of the subject, the Leaving Cert higher level Accounting paper was conservative in both the topics examined and the content, said teacher Ray O’Loughlin..

It was “very straightforward and uncomplicated and students who prepared well will be pleased with this exam”, said Mr O’Loughln of Dublin’s Institute of Education.

In Section 1, he said there was a nice range of short questions, including “a welcome return of company final accounts after a three-year absence”.

Section 2, both the club accounts, cash flows statements and interpretation of accounts would all have been well-received by students.

He said club accounts, which last appeared in Section 2 in 2011, had a few added problems such as accumulated depreciation, the loan figure was missing and a national lottery grant appeared as a revenue item but it “was very manageable”.

Mr O’Loughlin said in Section 3, Q8, on overhead analysis and job costing, or Q9, on production budgeting, also provided a good choice, and required students to be very precise and accurate in their calculations.

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