ACC101

NCEA Level 1 Accounting 101

Course Description

Teacher in Charge: Mr A. Munro


Accounting 101

This course enables students to develop the knowledge and skills to manage the financial affairs of individuals, communities and businesses. It teaches the personal skills of budgeting and bank reconciliation, as well as the basic accounting cycle of source documents through to analysis of financial reports for a small business. The course is a useful introduction to the skills needed for personal financial management and an understanding of the financial side of business.


Course Overview

Term 1
In term 1 we start with some basic personal financial literacy concepts, exploring decision-making (AS90981 - 3 credits), and how households manage their cash (AS90982 - 4 credits) using various everyday documents.

Term 2
Using their understanding of source documents from Term 1, learners begin to explore how businesses process and record transactions and balance their accounts. This links to AS90977 - 5 credits.

Term 3
Learners will explore how to understand and create financial statements for a small business using their knowledge of recording financial transactions (AS90978 - 5 credits). Then follow up this learning with a deeper, in-depth analysis and interpretation of the finances of a small business (AS90980 - 4 credits). Both of these are external achievement standards.

Term 4
Exam revision and preparation.

Pathway

Credit Information

This course is eligible for subject endorsement.

Total Credits Available: 21 credits.
Externally Assessed Credits: 9 credits.
Internally Assessed Credits: 12 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 90977 v3
NZQA Info
Accounting 1.2 - Process financial transactions for a small entity
Level: 1
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90978 v3
NZQA Info
Accounting 1.3 - Prepare financial statements for sole proprietors
Level: 1
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. 90980 v3
NZQA Info
Accounting 1.5 - Interpret accounting information for sole proprietors
Level: 1
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0

Assessments:
Term: 4, Week: 4

A.S. 90981 v3
NZQA Info
Accounting 1.6 - Make a financial decision for an individual or group
Level: 1
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0

Assessments:
Term: 1, Week: 3

A.S. 90982 v3
NZQA Info
Accounting 1.7 - Demonstrate understanding of cash management for a small entity
Level: 1
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
Credit Summary
Total Credits: 21
Total Level 1 Literacy Credits: 11
Total University Entrance Literacy Credits: 0
Total Numeracy Credits: 0

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