NCEA Level 1 Accounting

Course Description

Teacher in Charge: Mr M. Terry

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

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.

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.

Credit Information

Assessment	Level	Internal or External	Credits	L1 Literacy Credits	UE Literacy Credits	Numeracy Credits
A.S. 90976 v3 Accounting 1.1 - Demonstrate understanding of accounting concepts for small entities	1	E	3	Y
A.S. 90977 v3 Accounting 1.2 - Process financial transactions for a small entity	1	I	5
A.S. 90978 v3 Accounting 1.3 - Prepare financial statements for sole proprietors	1	E	5
A.S. 90979 v3 Accounting 1.4 - Prepare financial information for a community organisation's annual general meeting	1	I	4	Y
A.S. 90980 v3 Accounting 1.5 - Interpret accounting information for sole proprietors	1	E	4	Y
Total Credits			21	11	0	0

Total Credits Available: 21 credits.
Externally Assessed Credits: 12 credits.
Internally Assessed Credits: 9 credits.