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.
External
NZQA Info
Accounting 3.2 - Demonstrate understanding of accounting for partnerships
NZQA Info
Accounting 3.3 - Demonstrate understanding of company financial statement preparation
NZQA Info
Accounting 3.5 - Demonstrate understanding of management accounting to inform decision-making
NZQA Info
Accounting 3.6 - Demonstrate understanding of a job cost subsystem for an entity
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.
Possible Careers
Accountant, Auditor, Accounts Officer, Actuary, Finance Manager, Advertising Specialist, Business Analyst, Statistician, Insurance Loss Adjuster, Bank Worker, Debt Collector, Property Manager, Managing Director/Chief Executive, Civil Engineer, Quantity Surveyor, Economist, Financial Adviser, Insurance Adviser, Mortgage Broker, Office Manager, Management Consultant, Data Analyst, Facilities Manager,