Accounting 2007-2011
The Accounting VCE Study Design (Units 1–4) has been reviewed and reaccredited for the period 2007–2011.
The reaccredited VCE Accounting Study Design builds on the directions of the existing Study Design. Recording and reporting of financial data and information is governed by Australian Accounting Standards and guided by the Framework for the Preparation and Presentation of Financial Statements (AASB Framework). There is a greater emphasis on the evaluation of financial and non-financial information in order to suggest strategies to the owner on how to improve the performance of the business. The use of information and communications technology (ICT) has been continued and expanded throughout the study across Units 1–4; students are required to use both manual and ICT methods to complete assessment tasks.
Summary of Changes
Unit 1 - Establishing and operating a service business
The unit name has been changed from 'Operating a business'. There are now three (3) areas of study and three (3) outcomes for the unit.
Area of study 1 – Recording and reporting accounting data and information, focuses on the recording and reporting of the financial data and information of a single activity sole trader using the single entry system of recording.
Area of study 2 – ICT in accounting, requires the use of an accounting software package to record and report financial data and information for a single activity sole trader. Students also investigate the importance of ICT in the accounting process.
Area of study 3 – Evaluation of business performance, focuses on an evaluation of a particular area/s of the business such as stock or debtors, in order to provide strategies that will improve business performance.
Unit 2 - Accounting for a trading business
The unit name has been changed from 'Operating a business'. There are now three (3) areas of study and three (3) outcomes for the unit.
Area of study 1 – Recording and reporting accounting data and information, focuses on the recording and reporting of the financial data and information of a single activity sole trader using the single entry system of recording.
Area of study 2 – ICT in accounting, requires the use of an accounting software package to record and report financial data and information for a single activity sole trader. Students also investigate the importance of ICT in the accounting process.
Area of study 3 – Evaluation of business performance, focuses on an evaluation of a particular area/s of the business such as stock or debtors, in order to provide strategies that will improve business performance.
Unit 3 - Recording and reporting for a trading business
The unit name has been changed from 'Double entry for trading businesses'. The unit has retained two areas of study, with two outcomes.
Area of study 1 – Recording of financial data, focuses on the identification and recording of accounting data for a single activity sole trader.
Area of study 2 – Balance day adjustments and reporting of accounting information, focuses on the accounting processes required at balance day and the techniques of preparing final reports for a single activity sole trader.
Unit 4 - Control and analysis of business performance
The unit name has been changed from 'Planning, control and decision making'. There are two (2) areas of study with two outcomes for the unit.
Area of study 1 – Extension of recording and reporting, builds on the accounting knowledge and skills developed in Unit 3.
Area of study 2 – Financial planning and decision-making, focuses on the preparation of budgeted accounting reports and the analysis of financial and non-financial information for a single activity sole trader.
Assessment
The assessment tasks across Units 1–4 require students to demonstrate achievement of the outcomes using ICT and manual accounting methods.
The assessment tasks for Unit 1 and 2 include a variety of task types. Students must use ICT in at least two of the selected assessment tasks.
The assessment tasks for Unit 3 and 4 are not prescribed as they are in the current Study Design. The students' performance on each outcome is now assessed by using one or more of a variety of task types, which are listed for each unit. This allows greater flexibility for teachers to structure their assessment tasks in order to best meet the approach they adopted in their teaching and learning program. At least 30 marks out of the 100 marks available for School-assessed Coursework in both Unit 3 and in Unit 4 must be allocated to ICT-based assessment.
Enquiries about the content of the Study Design can be directed to:
Jennifer Quick, Curriculum Manager, Business Studies
Tel: (03) 9651 4436
Email: quick.jennifer.m@edumail.vic.gov.au
