Accounting is the process of recording financial transactions pertaining to a business. The process includes summarizing, analysing and reporting these transactions to oversight agencies, regulators and tax collection entities.
Learning accounting starts with desire and hard work. If your heart isn’t in, studying it can be pure tedium. Once your heart is in it, and you’re ready to give it your all it will provide you with a number of very highly paid job opportunities. Career outlooks for accounting students have never looked better and many economists and researchers point out that while accountants are in great need today, their need will explode even more in the coming future.
Expertise in mathematics is not required for anyone to succeed as an accountant. You simply need the confidence and ability to be able to add, subtract, multiply, divide as well as use decimals, fractions, and percentages. Although students are encouraged to perform quick mental calculations they will use a calculator for all of the activities.
Similar to maths, accounting concepts build upon one another. What you learn in chapter 2 builds on what you learned in chapter 1. What you learn in chapter 3 builds on what you learned in chapters 2 and 1. If you didn’t really grasp the concepts taught in chapter 1, you’re going to have a difficult time learning the concepts in chapter 2 – and you’ll most likely be lost by chapter 3.
This subject involves both solving problems and memorisation of information. The Matsec Accounting paper allocates 50% of the total marks to theoretical work.
A pass at the Ordinary Level in the subject enables the student to study at higher education institutions. One can further his/her studies
- at the Institute of Tourisim Studies
- at advanced or intermediate level at the Junior College Msida, Higher Seconday School at Naxxar or any private or church sixth form in Malta.
- at MCAST where courses for Accounting Technicians, Diplomas in Financial Services and Certicates in Adminstration and Secretarial Studies are offered.
Success in the completion of an Advanced Level course in this subject leads to opportunities in reading for a university degree or following an ACCA course.
You don’t have to be great to start but you have to start to be great.
Accounts Teachers