Riccarton High School
This course requires 2 options.
Level 2 Accounting
Subject Description
Teacher in Charge: Mr B. Wedlake.
Level 2 Accounting
Level 2 Accounting builds on skills gained in L1 Commerce, plus it introduces subsystems used to safeguard key business assets such as inventory and accounts receivable. Students learn how to analyze and interpret financial information and they get to author a report for a client, all skills which qualify them as budding business advisers. At Level 2, students also get to process transactions using Accounting software (XERO). Over the past few years, it has become a tradition to run a combined Accounting and Economics trip to Wellington. This gives students ‘real-life’ insights into the curricula they are currently studying, the way Government and the Commerce industry inter-relate, and career options they may not have considered.
To meet requirements, it is expected that students will attempt up to four achievement standards during the year. Standards offered at this level comprise 19 credits.
The world of Accounting is changing. Today, technology takes care of the numbers, while the accountant’s role is telling the story behind the figures and giving business advice. In New Zealand, financial literacy is being prioritized in schools to help ensure individuals gain skills to better manage their personal finances. Financial literacy is crucial to organizations, too! Businesses, government departments, schools, hospitals, churches, and clubs all need people who understand the financials. This is why qualified accountants are in high demand globally. In the USA, Accounting is being added to the STEM subjects. Accounting, along with Science, Technology, Engineering and Mathematics is being prioritized in the American education system.
Subject Overview
Term 1
Accounts Receivable subsystem
Processing transactions in XERO
Term 2
Inventory Subsystem
Preparing Financial Statements
Term 3
Analysis and Interpretation of Financial Statements (telling the story behind the figures)
Term 4
Revision
Recommended Prior Learning
Literacy and numeracy NCEA Level 1 or by consultation with Mr Wedlake.
Approximate Costs and Equipment/Stationery
Optional write-on workbooks - approximately $35
Optional field trip to Wellington - approx. $500.
Pathway
Level 2 Accounting leads on to Level 3 Accounting and from there to myriad Commerce tertiary study opportunities and subsequent career paths.
Credit Information
You will be assessed in this course through all or a selection of the standards listed below.
External
NZQA Info
Accounting 2.2 - Demonstrate understanding of accounting processing using accounting software
NZQA Info
Accounting 2.3 - Prepare financial information for an entity that operates accounting subsystems
NZQA Info
Accounting 2.4 - Interpret accounting information for entities that operate accounting subsystems
NZQA Info
Accounting 2.6 - Demonstrate understanding of an accounts receivable subsystem for an entity
NZQA Info
Accounting 2.7 - Demonstrate understanding of an inventory subsystem for an entity
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