Level 2 Accounting
12ACC Course DescriptionTeacher in Charge: Mr A. Lander.
Recommended Prior Learning15 credits in Level 1 Commerce or approval from the HOF. Students who have not previously taken accounting will need to participate in out of class tutorials.
Accounting gives students the tools to make real life financial decisions in a constantly changing and uncertain world. It is the process of preparing and communicating financial information to a wide range of users. Accounting enhances financial literacy and helps individuals and organisations to be accountable to stakeholders for their actions. In addition to being a core prerequisite for almost every commerce degree in Australasia, accounting skills are important in all types of industries and highly valued in university graduates.
Level 2 gives students the tools to make real life financial decisions, enhance their financial literacy and help individuals and organisations to be accountable to stakeholders for their actions.
The course covers the following topics:
- Processing simple and complex data into meaningful information using accounting software (Xero)
- Accounts receivable and Inventory subsystems and the controls required for accurate information
- Preparation and interpretation of financial reports which meet user needs and professional and legal requirements
- Decision making - analyse and interpret financial information
Course Overview
Term 1
The first term will focus on two external papers: preparing financial information for an entity that operates accounting subsystems and interpreting accounting information for entities that operate accounting subsystems. These two topics will help students gain a base understanding for the accounting work that they will do all year.
Term 2
The first six weeks will focus on the internal assessment of demonstrating understanding of an accounts receivable subsystem for an entity. The final 4 weeks will be spent on the internal assessment of demonstrating an understanding of an inventory subsystem.
Term 3
The internal assessment on demonstrating understanding of accounting processing using accounting software, Xero will be the focus until the school exams. Revision for the externals will occur for the rest of the term.
Term 4
Revision for Externals
Pathway Contributions and Equipment/Stationery
$20 for Workbooks.
2B8 exercise book, Blue or Black pens, Ruler, Highlighters, Refill, Clearfile, Calculator.