ASHS Coursebook: 1ACC (Level 1 Accounting)
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What is this course about?
Accounting is the study of the processes of translating financial transaction data into information to assist decision-makers to make relevant, accurate and timely decisions. A study of Accounting will enable you to understand the processes involved in recording, classifying, reporting, analysing and interpreting financial information. If you are looking at a career in accounting, finance or management, you would benefit from studying Accounting. Students who are completing a full year course will complete all the achievement standards below.
What will I learn?
You will learn how to process financial information into a format that can be used to make decisions. You will learn about the different financial statement that accountants prepare. These statements include
- statement of financial performance (used to show if a firm makes a profit or a loss)
- statement of financial position (used to show what a firms assets and liabilities are)
- financial statements for clubs and societies and Treasurers Report
- bank reconciliation statements
What sorts of things will I do?
You will take information and process it into financial statements for clubs and for businesses.
You will analyse and interpret financial statements.
You will research and report on a financial decision to be made by a family. You will collect and explain the sort of information that families use from financial documents.
What standards can I enter?
|NCEA Level:||Standard Number:||Name of standard:||Version Number:||Credits:||Lit||Domain:||Assessment:|| Date of assessment|
|| 90977 (1.2)
|| Process financial transactions for a small entity
||Accounting - Generic|| Internal
|| Term 2|
|| 90978 (1.3)
|| Prepare financial statements for sole proprietors
||Accounting - Generic|| External
|| Term 3, 4 |
|1|| 90979 (1.4)
||Prepare financial information for a community organisation's annual general meeting||3||4||L||Accounting - Generic||Internal|| Term 3 |
|| 90981 (1.6)
|| Make a financial decision for an individual or group
||L||Accounting - Generic|| Internal
|| Term 1|
|1||90982 (1.7)||Demonstrate understanding of cash management for a small entity||3||4||L||Accounting - Generic||Internal||Term 1|
|1||90980 (1.5)||Interpret accounting information for sole proprietors||3||4||L||Accounting - Generic||External||Term 4 exam|
Your teacher will discuss which standards will be offered and which will be best suited to your abilities.
Frequently asked questions:
Question: Do I need to be good at Maths to study Accounting?
Answer: No, you have to have a logical mind and like problem solving. All the maths involved in Accounting is relatively basic.
Question: What sort of jobs can I get if I study Accounting?
Answer: Apart from being an accountant, most jobs involved in business and finance require some understanding of accounting.
Question: Can I pick Yr 12 or 13 Accounting up without having done Yr 11?
Answer: Yr 11 provides the base on which all Accounting learning builds from. It is highly recommended to do Yr 11 Accounting if you intend on studying it later on at school. However, you can pick it up later, but be prepared to work hard and to be challenged!