Business Studies
Business Management aims to develop: a knowledge and understanding of the importance of business and enterprise in today’s society; a knowledge and understanding of the main functional areas of business activity; the skills of analysing, problem solving and decision making in business situations; and the ability to interpret business information and communicate in an effective manner.
Accounting & Finance aims to develop: a broad appreciation of the contribution of accounting and finance to industry and commerce; a knowledge and understanding of the role of accounting in personal, social and business contexts; a systematic approach to problem solving and making decisions; an appreciation for the need for orderliness in the presentation of information; and transferrable skills and techniques relevant to accounting which will equip young people for entry into adult life.
SII
Business Studies begins with a study of the scarcity of resources and the choices which have to be made to satisfy consumer wants. This leads on to the benefits of specialisation and an appreciation of the different types of business activity. The principal factors of production are explained, with particular reference to the importance of enterprise. The course concludes with a study of the main types of business organisations in terms of ownership, and this leads into an enterprise activity where all pupils participate in fulfilling a challenge and thereby improving their skills in problem solving and decision making as well as experiencing the fun of working in a team. This activity incorporates many of the earlier aspects of the course.
SIII-IV Standard Grade (Accounting & Finance)
The Accounting and Finance course develops a knowledge and understanding of the role of accounting and finance in personal, social and business contexts. The course is designed to develop transferable skills which will equip young people for entry into adult life. During the course pupils study the following areas: break-even analysis, bank reconciliation statements, ratio analysis and the final accounts of not-for-profit organisations and partnerships.
SV/SVI Higher (Accounting)
The Accounting course uses a variety of contexts to allow candidates to gain a knowledge and understanding of both financial and management accounting. Financial Accounting enables candidates to understand how organisations are structured, financed, managed and controlled. It develops the ability and knowledge required to prepare financial statements and the skills necessary to analyse and evaluate business performance.
Management Accounting enables candidates to understand the significance of and need for classifying and controlling costs, to develop skills in budgeting and to prepare a range of cost statements for a variety of different production and service concerns. It develops analytical and evaluation skills to allow informed decisions through the use of break-even analysis and marginal costing techniques.
SVI Higher (Business Management)
The Higher Business Management course focuses on analysis of the key functional areas of businesses, such as finance, marketing, operations and human resource management, in all types of organisations. Emphasis is placed on decision making as organisations need to achieve their goals and adapt to a constantly changing environment. The role of enterprise within organisations and the increasing role that information and communication technology (ICT) plays in business-orientated organisations are highlighted, particularly with respect to the use and operation of ICT in decision-making.
SVI Advanced Higher (Accounting)
The study of Accounting at Advanced Higher further enables students to develop the ability to identify, calculate, measure and communicate financial and other relevant information to allow for informed judgements and decision-making to take place.
The course comprises of 2 units, Financial Accounting and Management Accounting, both of which are assessed internally and externally. Financial Accounting covers topics such as: published accounts of private limited companies; issue of shares; cash flow; ratio analysis; dissolution of partnerships; social accounting; and financial regulation. Management Accounting covers topics such as: cost analysis; standard costing; process costing; contract costing; budgeting; break even; and investment appraisal.