ACC201

NCEA Level 2 Accounting 201

Course Description

Accounting 201

The course builds on the knowledge and skills learned at Level 1 with more emphasis on practical business applications of systems. Learners will visit businesses to see how the accounting theory studied in class is applied in the “real world”. There will also be a Xero simulation to experience computer-based accounting.


Course Overview

Term 1
Learners will be introduced to XERO, a well-known, and commonly used electronic accounting system. They will learn how to set up the accounts for a small entity, and complete the entry for a range of transactions and financial information (AS91175 - 4 credits).

We will also explore how businesses manage their credit accounts (accounts receivable), and will visit Mojo Cafe so that learners will see it in practice. This learning relates to AS91179 - 3 credits.

Term 2
In term 2, learners then look at how businesses manage their inventory, visiting McDonald's Porirua to further their understanding (AS91386 - 3 credits).

The first of the 2 external achievements will also be studied and learners will take their learning of the accounts receivable and inventory sub-systems, and look how businesses incorporate these into the preparation of their financial statements (AS91176 - 5 credits).

Term 3
Learners will complete their study of the Preparing financial statements standard, and proceed to the second of the two externals where they will use their learning from across the year to explain and interpret the accounts for a small entity (AS91177 - 4 credits).

Term 4
Revision and exam preparation.

Recommended Prior Learning

Preferable: Accounting Level 1. Students who have not studied Accounting at Level 1 will need permission from the HOD Commerce to take this course.

Pathway

Credit Information

You will be assessed in this course through all or a selection of the standards listed below.

This course is eligible for subject endorsement.

Total Credits Available: 19 credits.
Externally Assessed Credits: 9 credits.
Internally Assessed Credits: 10 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91175 v2
NZQA Info
Accounting 2.2 - Demonstrate understanding of accounting processing using accounting software
Level: 2
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0

Assessments:
Term: 1, Week: 5

A.S. 91176 v2
NZQA Info
Accounting 2.3 - Prepare financial information for an entity that operates accounting subsystems
Level: 2
Internal or External: External
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0

Assessments:
Term: 4, Week: 4

A.S. 91177 v2
NZQA Info
Accounting 2.4 - Interpret accounting information for entities that operate accounting subsystems
Level: 2
Internal or External: External
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0

Assessments:
Term: 4, Week: 4

A.S. 91179 v2
NZQA Info
Accounting 2.6 - Demonstrate understanding of an accounts receivable subsystem for an entity
Level: 2
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0

Assessments:
Term: 1, Week: 7

A.S. 91386 v2
NZQA Info
Accounting 2.7 - Demonstrate understanding of an inventory subsystem for an entity
Level: 2
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0

Assessments:
Term: 2, Week: 10

Credit Summary
Total Credits: 19
Total Level 1 Literacy Credits: 0
Total University Entrance Literacy Credits: 0
Total Numeracy Credits: 0