Business Studies

business studies

 

 

 

 

 

 

Business studies can be a demanding subject because it covers accounting, marketing, financial strategy, and international markets. Financial strategy questions tend to cover managing people, marketing, accounting and economics. The strategic environment covers a wide area, such as the geopolitical context, economic context, social context, and legal and technological innovations. The requirement to adhere to International Accounting Standards is also very important for the accountancy modules.

Accounting essays tend to be part calculation and part interpretation of results. It is a demanding subject because there are so many different types of topics in financial and management accounting questions. Financial accounting questions tend to cover operating statement, statements of financial positions, and cash flow statements. Group accounting is normally a common theme and the inclusion of accrual accounting, revenue recognition, prepayments, decisions whether to capitalise tangible/intangible assets. The requirement to adhere to International Accounting Standards is also very important and to exhibit prudence concept, matching principle, and consistency. 

Management accounting covers a huge variety of costing questions ranging from product costing, process costing, activity based costing, variance analysis, capital investment decisions, decision making questions. The decision making questions are the hardest as they require you to calculate how to allocate resources when there are limiting constraints such as time, skilled labour, or factory floor space.

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