Applied Accounting NCV Level 4 Past Exam Papers with memorandums & Learning Material in PDF downloadable format for Term 1 (March) , Term 2 (June), Term 3 (September), and Term 4 (November). Applied Accounting teaches students the basic day-to-day bookkeeping of a small business enterprise. Once students are confident with the basic accounting entries, the work is expanded to year-end procedures which also include the interpretation and analysis of relevant information to help the owner of the small business enterprise to make decisions.