13ACC

Year 13 Accounting (Level 3)

Subject Description

Head of Faculty: Mrs D. Kiely.

The Level 3 Accounting course further utilises the knowledge, interpretation and analysis skills gained in Year 11 and Level 2 Accounting. This course will promote knowledge and understanding of Accounting as a financial language for partnerships and companies, which may be service, trading or manufacturing businesses. It covers Generally Accepted Accounting Practice (GAAP) including the New Zealand Framework, the New Zealand International Reporting Standards (NZIFRS) and the associated statutory requirements.



Subject Overview

Term 1
Partnerships (internal assessment)
• Prepare the accounting entries for the formation of an accounting entity with two or more owners.
• Prepare a written report explaining the impact of the newly formed partnership.

Term 2
Job Costing (internal assessment)
• Work through the process of calculating the cost of manufacturing a product and arriving at a price for the customer.
• Prepare a written report explaining aspects of the manufacturing process.

Term 3
Company Accounting (external examination)
• Prepare journals, ledgers and explain the impact of these
• Prepare a Statement of Comprehensive Income
• Prepare a Statement of Financial Position
• Prepare a Statement of Cash Flows
• Prepare notes to the financial statements

Term 4
• Prepare for the external examinations

Prerequisites

Students who have attained at least 14 credits in the Year 11 and/or Level 2 Accounting courses. 

Discretionary entry will be offered by the Head of Faculty.  

Credit Information

You will be assessed in this course through all or a selection of the standards listed below.

Total Credits Available: 17
Internal Assessed Credits: 8
External Assessed Credits: 9
Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91405 v2
NZQA Info

Accounting 3.2 - Demonstrate understanding of accounting for partnerships


Level: 3
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0 *
Numeracy Credits: 0
A.S. 91406 v2
NZQA Info

Accounting 3.3 - Demonstrate understanding of company financial statement preparation


Level: 3
Internal or External: External
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0 *
Numeracy Credits: 0
A.S. 91408 v2
NZQA Info

Accounting 3.5 - Demonstrate understanding of management accounting to inform decision-making


Level: 3
Internal or External: External
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0 *
Numeracy Credits: 0
A.S. 91409 v2
NZQA Info

Accounting 3.6 - Demonstrate understanding of a job cost subsystem for an entity


Level: 3
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0 *
Numeracy Credits: 0
Credit Summary
Total Credits: 17
Total Level 1 Literacy Credits: 0
Total University Entrance Literacy Credits: 0
Total Numeracy Credits: 0

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 17

Only students engaged in learning and achievement derived from Te Marautanga o Aotearoa are eligible to be awarded these subjects as part of the requirement for 14 credits in each of three subjects.