ACC101

Level 1 Accounting 101

Course Description

Teacher in Charge: M. McIntosh.

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
Introduction to Accounting
The Accounting Equation & GAAP - Generally Agreed Accounting Principals.
Personal and Organisational Financial Information including:
Budgets, Basic Income Statements and Balance Sheets.
Financial Decision Making Skills including, identification of Pūtake (Purpose), Stakeholders and Cost/Benefit analysis.

Term 2
Financial Decision Making for an Organisation.
Students will research and report on a financial decision for an organisation.
Accounting Processing
The Accounting cycle from Source Documents through to a Trial Balance.

EOTC: Xero - Accounting Software. Processing in Action. Field Trip.

Term 3
Preparing Financial Statements for a Community Organisation.
Cash Budgets, Income Statements and Balance Sheets with Balance Day Adjustements for Accruals and Depreciation.
Prepare and deliver the Treasurers Report for a Club AGM.

Guest Speaker: Local Club Treasurer/Accountant.

Term 4
Analyse and Interpret financial information
Profitability, Liquidity and Equity.
Assess investment options: Sharesies Challenge and/or Skint to Mint.

Recommended Prior Learning

None, COM 1.1 could be helpful 

Contributions and Equipment/Stationery

None. Workbooks will be provided.
Students will need calculators and the course may use Google Sheets/Excel at times.

Pathway

Assessment Information

Individual Assessment Early Term Two

Credit Information

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

Total Credits Available: 5 credits.
Internally Assessed Credits: 5 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 92028 v3
NZQA Info
Commerce 1.1 - Demonstrate understanding of an organisation's financial decision-making
4
4
4
4
Level: 1
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: Y
Credit Summary
Total Credits: 5
Total Level 1 Literacy Credits: 0
Total University Entrance Literacy Credits: 0
Total Numeracy Credits: 5