3ACC
This course requires 2 options.

Level 3 Accounting

Subject Description

Teacher in Charge: Mr B. Wedlake

Level 3 Accounting

 Xero's Biggest Benefits: When to Use Xero Instead of the Market Leader Deloitte restructuring unit sale offers clean solution to potential  conflicts | Financial Times Accounting for EQ: Why emotional intelligence matters for accountants |  INTHEBLACKLogo, company name

Description automatically generated

Debit Credit Analysis - Overview, Classical Approach, Financial Statements


Level 3 Accounting is a step up from Level 2. We now move on from sole traders to companies. This means processing share issues and repurchases, dividends, company taxation and asset revaluations, and then showing their respective impacts on the financial statements. As part of this course, students get to analyze the annual report of a NZ public company so they can make a recommendation to a client on buying shares in that company. Also included in this course are management decision-making, job costing and accounting for partnerships. The focus this year is being able to tell the story behind the figures and offer appropriate business advice.

 

Level 3 Accounting is a university-approved subject. To meet requirements, it is expected that students will attempt up to four achievement standards during the year. Standards offered at this level comprise twenty-two 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 such high demand. Right now, in the USA, a bill is going through Congress to add Accounting to the STEM subjects. Accounting, along with Science, Technology, Engineering and Mathematics is being prioritized in the American education system.






Recommended Prior Learning

Literacy and numeracy NCEA Level 2 or by consultation with Mr Wedlake.



Approximate Costs and Equipment/Stationery

Approximately $35 for optional write-on workbooks.

Credit Information

Total Credits Available: 22 credits.
Externally Assessed Credits: 9 credits.
Internally Assessed Credits: 13 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91405 v2
NZQA Info
Accounting 3.2 - Demonstrate understanding of accounting for partnerships
Level: 3
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0 *
Numeracy Credits: Y
A.S. 91406 v2
NZQA Info
Accounting 3.3 - Demonstrate understanding of company financial statement preparation
Level: 3
Internal or External: External
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0 *
Numeracy Credits: Y
A.S. 91407 v2
NZQA Info
Accounting 3.4 - Prepare a report for an external user that interprets the annual report of a New Zealand reporting entity
Level: 3
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 5r,5w *
Numeracy Credits: Y
A.S. 91408 v2
NZQA Info
Accounting 3.5 - Demonstrate understanding of management accounting to inform decision-making
Level: 3
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0 *
Numeracy Credits: Y
A.S. 91409 v2
NZQA Info
Accounting 3.6 - Demonstrate understanding of a job cost subsystem for an entity
Level: 3
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0 *
Numeracy Credits: Y
Credit Summary
Total Credits: 22
Total Level 1 Literacy Credits: 13
Total University Entrance Literacy Credits: 5
Total Numeracy Credits: 22

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 22

Only students engaged in learning and achievement derived from Te Marautanga o Aotearoa are eligible to be awarded these subjects as part of the requirement for 14 credits in each of three subjects.