This unit focuses on financial accounting for a single activity trading business as operated by a sole trader and emphasises the role of accounting as an information system. Students use the double entry system of recording financial data and prepare reports using the accrual basis of accounting. The perpetual method of stock recording with the First In, First Out (FIFO) method is used. This unit is delivered in Year 12.

Unit details

Study level:
Vocational and further education (TAFE)
Unit code:
AC033

Assessment

Demonstration of 'Satisfactory completion' by a selection of Assessment tasks and Level of Performance by SAC (Tests) and Exams .

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