NCEA Level 1 Accounting

11ACC
Course Description

Teacher in Charge: Mr M. Terry

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.

Accounting is the language of business and it provides a system of measuring transactions in business. The course covers accounting for individuals and households, community organisations and sole proprietors


The Conceptual Basis of Accounting

Recognition, definition and application of the conceptual basis of accounting


Process Financial Transactions

Cash Journals, source documents , ledgers


Prepare Financial Statements for Sole Proprietors and Community Organisations

  • Entries for balance day adjustments
  • Purpose and preparation of financial statements


Analyse and Interpret Financial Information

  • Calculation of ratios
  • Interpretation of trends
  • Interpretation of ratios
  • Interpretation of non-financial information


Course Overview

Term 1
Processing – Accounting Equation
Statement of financial position
Income Statement
Depreciation
Balance Day Adjustments
Cash Budget
Reports – Clubs and Societies-Trading/Special

Term 2
Reports – Clubs and Societies-Income St and Financial Position
Balance Day Adjustments
Treasurers report
Source Documents
Cash Receipts Journal
Cash Payments Journal
Journals to ledgers
Bank reconciliation

Term 3
Interpreting accounting reports
- using analysis ratios
- commenting on trends
- Making suggestions
Conceptual Basis of accounting
- users of accounting information
- underlying concepts
- asset, liability, revenue, expense criteria

Term 4
Revision
NCEA examination

Learning Areas:

Social Science


Pathway

NCEA Level 2 Accounting

Students who go on to become accounting technicians or chartered accountants will find opportunities in business, government departments, banking as well as in accountancy firms. There are many branches of accounting to specialise in later, such as financial accounting, management accounting, cost accounting, tax accounting, project accounting, forensic accounting, international accounting, government accounting.

Contributions and Equipment/Stationery

Student will need Journal and Ledger refills, as well as their device.