Leaving Cert accounting: Property prices turn up heat

Leaving Cert students who have been following the news recently should have had little difficulty with a question on rising property prices in the accounting exam.

Students who sat the higher level paper were asked to outline some of the factors affecting the price of housing and land.

In general, teachers said the paper was “tricky” in parts, with some questions either appearing for the first time or in unexpected sections.

Maria Lyle of Scoil Chaitríona in Glasnevin said many students may have been surprised to see departmental final accounts on the higher level paper.

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The topic has traditionally appeared on the ordinary level paper. However, students who have been taught in mixed ability classes should have faced little difficulty.

Ray O’Loughlin, a teacher at the Institute of Education said that while a question on the final accounts of a sole trader “was well flagged, it was very long, and required correction of over 20 figures”.

Cause trouble

Ms Lyle, a TUI subject representative, said she believed that two questions in particular – seven and eight – were likely to cause students most trouble.

Question seven on tabular statements saw Vat appear three times, which was the first time it had come up in this question on the paper.

Mr O’Loughlin said: “It would certainly have thrown some students.”

Likewise, question eight on marginal costing included a section on flexible budget costing that students may not have expected to see in that part of the paper. However, the rest of the question was straightforward.

Jane O'Keefe, a teacher in Bishopstown Community School in Cork, said that apart from the surprises the rest of the paper should have offered enough choice.

Students sitting the ordinary level paper should have faced little difficulty, with a fair exam that was in line with previous years, with no big surprises.

Ms O’Keefe, a TUI subject representative, said that if students had “covered the syllabus and revised well they should have performed well”.

Try this at home:

From the Leaving Cert higher level Accounting Paper

Outline the factors that affect the price of the property market