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Accounting

Jump to: Form 4 | NCEA Level 1 | Pre-Q | NCEA Level 2 | AS Level | NCEA Level 3 | A2 Level

Introduction

Auckland Grammar School offers courses in Accounting for senior students in Forms 5, 6 and 7. It continues to maintain its popularity and business studies has established itself as a useful introduction to the world of business.

Accounting is the process of preparing and communicating financial information to a wide range of users. The course gives students the tools to make real life financial decisions in a constantly changing and uncertain world and helps individuals and organizations to be accountable to stakeholders for their actions.

Form 4

Prerequisites: Recommended for those students wishing to do Pre-Q Accounting and/or Business Studies.

Course description/aims: The course aims to give students an introduction to the business world and provide practical information, which they can use when they leave School irrespective of which vocation they choose. The course is an excellent introduction to Pre-Q Accounting and Business Studies.

Business Studies and Economics
Business Studies is covered in Terms 1 and 4. This module acts as a good introduction to Pre-Q Business Studies. The primary emphasis is on how businesses are developed and operate. This section covers the following areas:

  • Business Activity
  • Business Organisation
  • Business Marketing
  • Consumer Laws
  • Economic Theory

Accounting
This will be taught in Terms 2 and 3. This module acts as an excellent introduction to Pre-Q Accounting. It begins by developing a student’s awareness for the need for financial information. It will then move into the recording, processing and interpreting of accounting information.

Methods of Assessment: Three one-period common tests, plus three term examinations. Individual class assignments will be set at the discretion of the individual classroom teacher.

Special equipment/costs: Students will require a calculator for Accounting. They will also receive workbooks at a cost of $15.

Continuation of course: This course will provide good background preparation for Accounting to Form 7 (Cambridge or NCEA) and Business Studies to Form 7 (Cambridge or NCEA).

Commerce – Form 5 (NCEA Level 1)

Prerequisites: None, although it is an advantage to have studied Accounting/Business Studies (4ABS) or Economics/Business Studies (4EBS) in Form 4. This course is for students in 4O and 4P who will study a full NCEA course at Form 5.

Course description/aims: This course is designed to introduce students to the concepts and theories covered in the Commerce subjects of Economics, Business Studies and Accounting. The course aims to give students a basic understanding of:

  • Microeconomics: market theory (demand and supply), scarcity and exercise of choice in economic decision-making.
  • Macroeconomics: sectors of the economy, money flow, and interdependence between households, producers, government and other sectors.
  • Business marketing and success and failure of businesses.
  • The principles and purposes of accounting for individuals and businesses and making a financial decision.

Successful completion of this course provides an appropriate base for study of Accounting, Business Studies or Economics at NCEA Level 2 in Form 6.

Course outline: The proposed course outline is designed to cover the following NCEA Level 1 Achievement Standards:

Economics:

  • 90983 – Demonstrate understanding of consumer choices, using scarcity and/or demand [4 credits, External]
  • 90985 – Demonstrate understanding of producer choices using supply [3 credits, External]
  • 90988 – Demonstrate understanding of the interdependence of sectors of the New Zealand economy [3 credits, Internal]

Business Studies: 90840 – Apply the marketing mix to a new or existing product [3 credits, Internal]

Accounting: 90981 – Make a financial decision for an individual or group [3 credits, Internal]

Methods of Assessment: Students complete a mix of NCEA Level 1 internally-assessed and externally-examined Achievement Standards (as in the Course Outline above). Students will also be assessed by in-class tests and the School examinations which take place in Terms 1, 2 and 4.

Continuation of subject: Successful completion of this course provides an appropriate base for study of Accounting, Business Studies or Economics at NCEA Level 2 in Form 6.

Accounting – Form 5 (Pre-Q)

Prerequisites: None. However, it is possible that classes may be oversubscribed. In this case, priority will be given to those students that have performed creditably in 4BEA.

Course description/aims: The aim of the course is to:

  • Develop an understanding of the principles and purposes of accounting in providing information systems for monitoring and decision-making appropriate to the needs of business
  • Develop an understanding of accounting concepts, conventions, procedures and terminology
  • Develop knowledge and understanding of the aims and activities of business, their accounting implications and accounting techniques and procedures appropriate to them
  • Develop skills of numeracy, literacy, communication, enquiry, presentation and interpretation
  • Encourage attitudes of accuracy, orderliness and logical thought

Methods of Assessment: School examination:

  • 1 x 1-hour examination – end of Term 1
  • 1 x 2-hour examination – end of Term 2
  • 1 x 3-hour examination – end of Term 4 (Pre-Q, which is worth 100% of the overall mark)

Special equipment/costs: A calculator and workbook for $25.

Continuation of subject: At the end of the Pre-Q course, students can pursue the following pathway or combination of pathways:

  • The Cambridge pathway: Form 6 Cambridge AS Level Accounting, Form 7 Cambridge, A2 Level Accounting
  • The NCEA Pathway: NCEA Level 2 Accounting, NCEA Level 3 Accounting

Accounting – Form 6 (NCEA Level 2)

Prerequisites: None, although previous study in Accounting is strongly recommended.

Course description/aims: The aim of this course is to:

  • Provide students with an understanding of the role of the accountant in society
  • Improve students’ understanding of business organisation
  • Provide students with increased awareness of, and access to, career opportunities in accounting
  • Give accounting students hands-on computer experience

Course outline: The context of study is limited to sole trader businesses who are registered for GST on an invoice basis. The prescription is divided into five strands:

  • Analysis and interpretation
  • Processing of Accounting information
  • Accounting systems
  • Preparation of accounting reports
  • Decision-making

Note: Students will be required to process accounting information manually as well as on a computerised system.

Methods of Assessment: Form 6 Accounting will be assessed through a combination of internally-assessed and externally-examined NCEA Level 2 Achievement Standards (19 credits in total will be offered in this course).

Examinations: There will be 3 School examinations held in Term 1, 2 and 3.

Tests: There will be NCEA examinations in Term 4.

Special equipment/costs: A calculator and workbook for $26.

Continuation of subject: NCEA Level 3.

Accounting – Form 6 (AS)

Prerequisites: Form 5 Pre-Q Accounting or approval from the Head of Department.

Recommended Achievement Levels: Over 60% in Form 5 Pre-Q Accounting. Students who have not studied Form 5 Pre-Q Accounting will be admitted onto the course at the discretion of the Head of Department.

Course description/aims: The syllabus is intended to encourage courses that will enable students to:

  • Develop an ability to apply accounting concepts, principles and practice
  • Understand the role of accounting as an information system for monitoring, problem-solving and decision-making and the place of accounting in changing economic, social and technological environments
  • Develop a critical and analytical approach to examining and evaluating accounting policies and practice
  • Develop skills to communicate, analysis, interpretation and presentation of both qualitative and quantitative accounting information

Course outline: There are seven topics covered during the year:

  1. Recording Financial Information
  2. Accounting Principles
  3. Control Systems
  4. Preparation of Financial Statements
  5. Capital
  6. Interpretation and Analysis
  7. Costing Principles and Systems

Methods of Assessment: Candidates must sit two external examination papers:

  • Paper 1: Multiple Choice paper – 30 questions with a maximum mark of 30 and weighting of 30% [1 hour]
  • Paper 2: Structured Questions paper – a maximum mark of 90 and weighting of 70% [1 hour, 30 mins]

Special equipment/costs: A calculator and workbook for $40.

Continuation of subject: At the end of the AS course, students can pursue one of the following pathways – Form 7 Cambridge A2 Level Accounting or Form 7 NCEA Level 3 Accounting.

Accounting – Form 7 (NCEA Level 3)

Prerequisites: A minimum 12 credits in NCEA Level 2 Accounting or approval from the Head of Department.

Course description/aims: The course aims to:

  • Provide students with an understanding of the conceptual basis of accounting
  • Give students an appreciation of how basic accounting concepts, processes and systems are applied to different organisations and groups of users
  • Provide students with an understanding of the analysis of accounting systems and the methods of processing accounting data

Course outline: The course is broken up into four main areas:

  1. Processing financial information for partnership and companies
  2. Accounting systems
  3. Prepare financial reports for partnerships and companies
  4. Decision-making

Methods of Assessment: Form 7 Accounting will be assessed through a combination of internally-assessed and externally-examined NCEA Level 3 Achievement Standards. A total of 22 credits is offered in this course, and it is a University-approved course.

Special equipment/costs: A calculator and workbook for $25.

Continuation of subject: It is useful for any commerce-related degree. It also provides fundamental background knowledge which is clearly advantageous, and students who wish to make a career in commerce are strongly recommended to take it.

Accounting – Form 7 (A2)

Prerequisites: A minimum ‘D’ pass in AS Accounting gains automatic entry. Students with an E grade will NOT be accepted.

Course description and outline: The A2 syllabus is an extension of the topics taught at AS level as well as the following additional topics:

  • Statement of Cash Flows and Partnership Changes
  • Capital (including share capital and repayment of debentures)
  • Business Purchase
  • Published Company Accounts and Joint Ventures
  • Company Finances (including capital gearing, capital structures and loan capital)
  • The preparation of a cash budget and master budget
  • Standard Costing and Activity-Based Costing
  • Investment Appraisal Accounting (including discounted cash flow methods

Methods of Assessment: Candidates must sit one three-hour external examination paper of structured questions worth 100%.

Special equipment/costs: A calculator and workbook for $25.

Continuation of subject: Students studying A2 Level Accounting will be familiar with many topics covered in the first two years of a university Accounting course.  It is also useful for any commerce-related degree and advantageous for all university graduates. Students will have the opportunity to complete the NZQA Accounting Scholarship Examination.

If you have any questions, please feel free to contact our staff today.

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