VCE Accounting

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.  The processes of gathering, recording, reporting and analysing financial data are explored.

Areas of Study
•    Going into business
•    Recording and reporting accounting data and information

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Unit 2:    Accounting for a Trading Business

This unit focuses on accounting for a single activity sole trader.  Students use an accrual accounting single entry recording system for the recording and reporting of cash and credit transactions.  They evaluate business performance using financial and non-financial indicators and suggest strategies for improvement. Students use a commercial accounting software package to record financial data and report accounting information.

Areas of Study
•    Recording and reporting accounting data and information
•    ICT in accounting
•    Evaluation of business performance

A Student’s Perspective!

Unit 3:    Recording and Reporting for a Trading Business

This unit focuses on financial accounting for a single activity trading business as operated by a sole trader and emphasises the role of accounting as an information system.  Students are introduced to the double entry system of recording using the accrual basis of accounting.

Areas of Study
•    Recording of financial data
•    Balance day adjustments and reporting and reporting of accounting information

Unit 4:    Control and Analysis of Business Performance

This unit provides and extension of the recording and reporting processes from Unit 3 and the use of financial and non-financial information in assisting management in the decision-making process.  The accrual system of recording and reporting is used for a single activity trading business.  Students explore the importance of budgeting and evaluate the information prepared and analyse their results in order to suggest improvements strategies to the owner.

Areas of Study
•    Extension of recording and reporting
•    Financial planning and decision-making

Assessment for Units 3 & 4
At least 30 marks of school assessed coursework will be ICT-based.

The student’s level of achievement in Unit 3 and 4 will be determined by School-assessed Coursework and an end-of-year examination.

School-assessed Coursework for Unit 3 and 4 will contribute 50 per cent.

The level of achievement for Units 3 and 4 is also assessed by an end-of-year examination, which will contribute 50 per cent.

 Studying Accounting may to lead to:

University – Bachelor degrees in:  Economics, Business Systems, Banking & Finance, Marketing, Management, Business, Information Technology, Arts/Commerce, International Trade, Tourism & Hospitality, Teacher Education, Commerce/Law, Social Sciences

Employment opportunities include:  Banking, Insurance, Marketing, Finance, International Trade, Travel & Tourism, Clerical Work, Public Administration, Local Government, Real Estate, Sales & Retail, Auditor, Accountant.

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