A Level Accounting AS and A2

Candidates will consider how figures in a trial balance need to be adjusted in order to prepare a complete set

of financial statements in accordance with the matching/accruals concept and other fundamental accounting

concepts. In particular, candidates will examine the differing formats of financial statements necessary for

sole traders, partnerships and limited companies. Candidates will address specific aspects relating to how

partnerships account for individual partners’ shares of profits and losses, and study the characteristics of limited

company financial statements, particularly share capital and reserves.