NCEA Level 1 Commerce - Economics and Accounting
Teacher in Charge: Mr M. Terry.
NCEA Level 1 Commerce Economics and Accounting course will give students a broad understanding of the Commerce disciplines Economics and Accounting within the context of organisations of Aotearoa New Zealand.
As an overarching approach, students will use and explore accounting models and economic concepts in a business context in order to make sense of society and solve problems. In this subject, ākonga gain knowledge, skills, and values they need to navigate, and participate in, and appreciate their place in the economic world.
Students will use economic concepts and accounting principles to learn how participants in the economic world make decisions, and analyse how these decisions impact their income / wealth and the wider community. Students will consider the process of organisational financial decision making, explore decisions around price determination and the implication to stakeholders, evaluate the effect of external influences through interdependence within the economy, and analyse the impacts upon financial viability of the organisation.
NCEA Level 1 Commerce Economics & Accounting builds the foundation for further pathways specifically into Economics and Accounting, as well as developing the desired skills for Business Studies.
Accounting, as the language of business, provides a system of measuring transactions in business. The course covers accounting for individuals and households, community organisations and sole proprietors.
Economics analyses the decisions organsiation make in managing the resources they have at their disposal in an efficient way, raising productivity and enabling profit to be created.
The Economic Problem
Demand and Supply
Equilibrium and the Market
Accounting and Financial Records
The Accounting Equation - Debits and Credits
Statement of Financial Position
Accounting and Financial Records 2
Balance Day Adjustments
Interpretation of Accounts
Circular Flow Model and Interdependence
Price and Non Price Competition
Recommended Prior Learning
While 10 BEA will give students an initial advantage, others with a sound study record at Year 10 are welcome to take this course.
Contributions and Equipment/Stationery
Student will need Journal and Ledger refills, as well as their device.
You will be assessed in this course through all or a selection of the standards listed below.
Total Credits Available: 15 credits.
Externally Assessed Credits: 5 credits.
Internally Assessed Credits: 10 credits.