WHY STUDY ACCOUNTING?
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Accounting is an information system which involves the recording, reporting, analysing and interpreting of financial and other information used for making and evaluating decisions about the allocation of resources.
The study of accounting provides, not only a foundation in the discipline of accounting, preparing students for the further education, training and employment, but also an understanding of the processes involved in using accounting information to make effective decisions.
The skills and attitudes gained in this course will prepare students for a variety of entry points to employment, in both employee and employer roles, as well as preparing them for continuing study at tertiary level.
Students are provided with opportunities to develop skills in managing financial resources that they can apply in the business environment, and also on a personal level. They are encouraged to think logically, to apply accounting principles in a consistent and effective manner, and to become independent learners.
The changing processes of accounting practice are recognised, especially with respect to the development and use of new technologies. Students will use information and communication technologies to enable them to apply the accounting process in business, their daily lives, and as members of society. Completion of this course should enable students to participate more effectively and responsibly in a changing business environment.
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WHAT IS STUDIED?
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The course is organised under five areas of study:
• Foundation Studies
• Recording and Controls
• Reporting and Decision making
• Accounting Package
• Elective Studies
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During the course students will study:
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• Principles of double-entry accounting
• Preparation of accounting records and reports to indicate financial performance, financial position, cash flow and budgeted cash positions
• Accounting for the GST
• Use of information and communication technologies relevant to the preparation of accounting records and reports – accounting packages (MYBO) and spreadsheets (excel).
• Control of the major financial elements of a business – cash, credit transactions, inventories and non-current assets
• Analysis and interpretation of financial reports in order to make decisions
• Managerial decision making including cost-volume-profit analysis
• Electronic business
• Elective topics, which may include understanding company reports, and personal financing and investing.
The accounting procedures taught are consistent with the practices of professional bodies.
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The study of Accounting is of benefit to students because it:
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• Provides a foundation in the discipline of accounting
• Promotes the development of numeracy, effective communication skills, and logical reasoning processes
• Introduces students to relevant information and communication technologies
• Enables students to participate more effectively and responsibly in a changing business environment
• Provides information useful to individuals in the management of their personal financial affairs
• Assists students to appreciate the necessity for accuracy and the presentation of thigh-quality work
• Prepares students for further education, training and employment. CRITERIA
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• Knowledge, interpretation and evaluation
Recalling, stating, defining, describing, explaining, analysing,
interpreting, solving problems and making valid decisions and recommendations
• Routine practical procedures
Fundamental knowledge of accounting concepts
• Challenging practical applications
Advanced application of accounting knowledge and concepts to solve problems
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ASSESSMENT PROGRAM AND EXPECTATIONS
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There will be a minimum of 2 and a maximum of 3 assessment instruments per semester ranging from supervised to unsupervised and covering a range of instruments including objective short responses to extended responses, assignments, practical applications including both routine practical applications and challenging practical applications.
Time frame for tests will be from 40 – 120 minutes, assignments 2 – 3 weeks. Extended responses will be a minimum of 500 words and may be seen or unseen.
Each criteria will be assessed a minimum of once and a maximum of twice per semester.
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AWARDING EXIT LEVELS OF ACHIEVEMENTS
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VHA Standard A in any 2 criteria and nothing less than a B
HA Standard B in any 2 criteria and nothing less than a C
SA Standard C in any 2 criteria and nothing less than a D
LA Standard D in any 2 criteria
VLA Does not meet requirement of an LA
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RECOMMENDATIONS
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There are NO recommendations for studying Accounting other than dedication and a commitment to completing all homework tasks. An SA in English and the study of Business Principles would be an advantage.
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THE STUDY OF ACCOUNTING COULD LEAD TO CAREERS IN:
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• Accountant
• Accounts clerk
• Bank officer (including building society and credit union)
• Costing clerk
• Credit officer
• Financial dealer's assistant
• Finance clerk
• Financial planner / manager
• Hotel / motel manager
• Corporate treasurer
• Export / import clerk
• Financial dealer and broker
• Health services – hospital administrator
• Investment analyst
• Records manager
• Sports administrator
• Tourism manager
• Valuer
• Store person
• Transport clerk
• Settlement clerk
• Stock and station agent
• Stockbrokers clerk
And much much more |
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