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Unit 1: Accounting
This unit explores the establishment of a business and the role of accounting in the determination of business success or failure. It considers the importance of accounting information to stakeholders. Students analyse, interpret and evaluate the performance of the business using financial and non-financial information.
Areas of Study:
● AOS 1: The role of accounting
● AOS 2: Recording financial data and recording accounting
information for a service business
Unit 2: Accounting
In Unit 2, students develop their knowledge of the accounting process for sole proprietors operating a trading business, with a focus on inventory, accounts receivable, accounts payable and non-current assets. Students use manual processes and ICT, including spreadsheets, to prepare historical and budgeted accounting reports.
Areas of Study:
● AOS 1: Accounting for and managing inventory
● AOS 2: Accounting for and managing accounts receivable and accounts payable
● AOS 3: Accounting for and managing non-current assets
Unit 3: Accounting
This unit focuses on financial accounting for a trading business owned by a sole proprietor, and highlights the role of accounting as an information system. Students use the double entry system of recording financial data and prepare reports using the accrual basis of accounting and the perpetual method of inventory recording.
Areas of Study:
● AOS 1: Recording and analysing financial data
● AOS 2: Preparing and interpreting accounting reports
Unit 4: Accounting
In this unit, students further develop their understanding of accounting for a trading business owned by a sole proprietor and the role of accounting as an information system. Students use the double entry system of recording financial data and prepare reports using the accrual basis of accounting and the perpetual method of inventory recording. Both manual methods and ICT are used to record and report.
Areas of Study:
● AOS 1: Extension of recording and reporting
● AOS 2: Budgeting and decision-making
Study Score Contribution
Unit 3 Assessments 25%
Unit 4 Assessments 25%
End of Year Exam 50%
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