VCE | Accounting + Business

 
 
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Accounting | Unit 1

OVERVIEW

This unit explores the establishment of a business and the role of accounting in either business success or failure. Students analyse both financial and non-financial information and interpret and evaluate performance.

Students learn to record financial information and prepare accounting reports.

VCAA Study Design - Accounting

UNIT PREREQUISITES

N/A

AREAS OF STUDY

  1. The role of accounting

  2. Recording Financial data and reporting accounting information for a service business.

UNIT ASSESSMENT

Assessment includes:

  • Folio of exercises

  • Structured Questions

  • Topic Tests

 
 

 
 
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Accounting | Unit 2

OVERVIEW

in this unit 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. The financial performance of a business is analysed and evaluated.

VCAA Study Design - Accounting

UNIT PREREQUISITES

N/A

AREAS OF STUDY

  1. Accounting for inventory

  2. Accounting for and managing accounts receivable and accounts payable

  3. Accounting for and managing non-current assets

UNIT ASSESSMENT

Assessment includes:

  • Folio of exercises

  • Structured Questions

  • Topic Tests


 
 

 
 
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Accounting | Units 3+4

OVERVIEW

Unit 3 focuses on the financial accounting for a trading business owned by a sole proprietor. The double entry system of recording is used to record financial information and reports are prepared using the accrual basis of accounting. The perpetual method of inventory recording is covered.

In Unit 4 students further develop their understanding of the financial system covered in Unit 3. Students explore balance day adjustments and alternative methods of depreciation. The unit also involves the analysis of business performance and providing advice to improve business performance.

VCAA Study Design - Accounting

PREREQUISITES

Unit 1+2 Accounting is highly recommended

 

AREAS OF STUDY

  1. Recording and analysing Financial data

  2. Preparing and interpreting accounting reports

  3. Extension of recording and reporting

  4. Budgeting and decision-making

UNIT ASSESSMENT

  • Unit 3 SACS 25%
    Unit 4 SACS 25%
    End of unit examination 50%

Assessment includes

  • Case study

  • Structured questions

  • Folio of exercises

30% of assessment for both Unit 3 and 4 is ICT based

PATHWAYS

University and TAFE study in Arts, Business, Accounting, Finance, Economics and Law

 
 

 
 
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Business Management | Unit 1

OVERVIEW

Businesses of all sizes are major contributors to the economic and social wellbeing of a nation. Therefore how businesses are formed and the fostering of conditions under which new business ideas can emerge are vital for a nation’s wellbeing. Taking a business idea and planning how to make it a reality are the cornerstones of economic and social development.

In Unit 1, students explore the factors affecting business ideas and the internal and external environments within which businesses operate, and the effect of these on planning a business.

VCAA Study Design - Business Management

PREREQUISITES

N/A

AREAS OF STUDY

  1. The business idea

  2. External environment

  3. Internal environment

UNIT ASSESSMENT

Suitable tasks for assessment may be selected from the following:

  • Case study analysis

  • Business research report

  • Development of a business plan and/or feasibility study

  • Media analysis

 
 

 
 
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Business Management | Unit 2

This unit focuses on the establishment phase of a business’s life. Establishing a business involves complying with legal requirements as well as making decisions about how best to establish a system of financial record keeping, staff the business and establish a customer base.

In this unit students examine the legal requirements that must be satisfied to establish a business. They investigate the essential features of effective marketing and consider the best way to meet the needs of the business in terms of staffing and financial record keeping. Students analyse various management practices in this area by applying this knowledge to contemporary business case studies from the past four years.

VCAA Study Design - Business Management

PREREQUISITES

N/A

AREAS OF STUDY

  1. Legal requirements and Financial considerations for establishing a business

  2. Marketing a business

  3. Staffing a business

UNIT ASSESSMENT

Suitable tasks for assessment may be selected from the following:

  • Case study analysis

  • Business research report

  • Development of a business plan and/or feasibility study

  • Media analysis.

 

 
 
 
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Business Studies | Units 3+4

OVERVIEW

In Unit 3, students explore the key processes and issues concerned with managing a business efficiently and effectively to achieve the business objectives. Students examine the different types of businesses and their respective objectives. They consider corporate culture, management styles, management skills and the relationship between each of these.

Students investigate strategies to manage both staff and business operations to meet objectives. Students develop an understanding of the complexity and challenge of managing businesses and through the use of contemporary business case studies from the past four years have the opportunity to compare theoretical perspectives with current practice. Businesses are under constant pressure to adapt and change to meet their objectives.

In Unit 4, students consider the importance of reviewing key performance indicators to determine current performance and the strategic management necessary to position a business for the future.

Students study a theoretical model to undertake change, and consider a variety of strategies to manage change in the most efficient and effective way to improve business performance. They investigate the importance of leadership in change management. Using a contemporary business case study from the past four years, students evaluate business practice against theory.

VCAA Study Design - Business Management

PREREQUISITES

N/A

AREAS OF STUDY

Business foundations

  • managing employees

  • operations management

  • reviewing performance

  • the need for change

  • implementing change

UNIT ASSESSMENT

  • Unit 3 school assessed coursework (SACs) 25%

  • Unit 4 school assessed coursework (SACs) 25%

  • Units 3 & 4 examination 50%

PATHWAYS

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, Human Resource Management