AC011 - Accounting 1

Unit code: AC011 | Study level: TAFE

Credit points

N/A

Location

Footscray Nicholson

Prerequisites

N/A

Overview

This unit explores the establishment of a business and the role of accounting in the determination of business success or failure. In this, it considers the importance of accounting information to stakeholders. Students analyse, interpret and evaluate the performance of the business using financial and non-financial information. They use these evaluations to make recommendations regarding the suitability of a business as an investment.

This unit is delivered in Year 11.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce and extend knowledge in accordance with each unit’s learning outcomes, including the setting of practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines. Students will be expected to demonstrate the following knowledge:

Outcome 1
On completion of this unit the student should be able to describe the resources required to establish and operate a business, and select and use accounting reports and other information to discuss the success or otherwise of the business.

Outcome 2
On completion of this unit the student should be able to identify and record financial data, report and explain accounting information for a service business, and suggest and apply appropriate financial and non-financial indicators to measure business performance.

Assessment will follow the requirements set out in the VCE Accounting Study Guide:

The award of satisfactory completion for a unit is based on whether the student has demonstrated the set of outcomes specified for the unit. A variety of learning activities and assessment tasks will provide a range of opportunities for students to demonstrate the key knowledge and key skills in the outcomes. Assessment will be a part of the regular teaching and learning program and will be completed mainly in class and within a limited time-frame.

All assessments at Units 1 and 2 are school-based.

For this unit students are required to demonstrate achievement of two outcomes. As a set these outcomes encompass all areas of study in the unit.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by the Polytechnic and/or via the Polytechnic e-learning system.