Scotch College

VCE: Accounting

Rationale

Accounting focuses on the process of recording, reporting, analysing and interpreting financial data which is then communicated to internal and external users of the information. The study of Accounting will enable students to develop their financial knowledge and skills.

Structure

Unit 1: Establishing and Operating a Service Business

This unit focuses on the establishment of a small business and the accounting and financial management of the business. Students will be introduced to the role of accounting in the decision making process.

Unit 2: Accounting for a Trading Business

This unit focuses on accounting for a single activity sole trader. Student's record and report cash and credit transactions involving stock. They use financial and non-financial information to evaluate the performance of a business. Using these evaluations students suggest strategies to the owner on how to improve the performance of the business.

Unit 3: Recording and Reporting for a Trading Business

This Unit focuses on financial accounting for a trading business, and students are introduced to the double entry system of recording.

Unit 4: Control and Analysis of Business Performance

This Unit provides an extension of the recording process introduced in Unit 3, students learn about the importance of budgeting, as well as the evaluation of the information prepared in order to suggest strategies to the owner.

Use of Information and Communications Technology

ICT is now an essential part of the operation of small business. Computers are used at the inputting, processing and outputting stages of the accounting process. Students need to be aware of the use of spreadsheets, accounting software packages, the internet and word processing.

Assessment

Units 1 and 2: Practical Exercises (Examination)

Applied Accounting Exercises

Extended Responses Exercises

Unit 3: School Assessed Coursework mid-year 17 per cent

Examination 33 per cent

Unit 4: School Assessed Coursework mid-year 17 per cent

Examination 33 per cent