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Welcome to Year 11 Accounting Unit 1!
This semester we will be looking at managing the financial records of a small service business. Please complete the attached handout and be prepared to hand it in - lesson 1 in 2026. You need to read chapters 3 and 4 (4.1 and 4.2) to complete the hand out - DO NOT use google!!!!.
You will be studying the following:
Unit 1: Role of accounting in business
AREA OF STUDY 1
The role of accounting
Individuals should consider a range of factors before committing to or continuing in a business venture. In this area of study students investigate the reasons for establishing a business and possible alternatives to operating a business. They explore types of business ownership, factors that lead to the success or failure of a business, sources of business finance and ethical considerations. They develop an understanding of the role and importance of accounting in operating a business, and consider how accounting is used to provide information for making operational and investment decisions.
Outcome 1
On completion of this unit the student should be able to describe the resources required, and explain and discuss the knowledge and skills necessary, to set up a small business.
AREA OF STUDY 2
Recording financial data and reporting accounting information for a service business
On completion of this unit the student should be able to identify and record financial data, report and explain accounting information for a service business, and suggest and apply appropriate financial and non-financial indicators to measure business performance.
Outcome 2
On completion of this unit the student should be able to identify and record the financial data, and report and explain accounting information, for the sole proprietor of a service business.
Have a great holiday and come back recharged ready to learn and embrace new (and somewhat foreign) concepts.
Ms Guo, Mrs James, Ms Roberts & Mrs Goile
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