ACC301

NCEA Level 3 Accounting 301

Course Description

Teacher in Charge: Mr A. Munro


Accounting 301

The course builds on the knowledge and skills learned at Levels 1 and 2. Learners study: the reasons behind the development of accounting ideas, theory and practices; how businesses make decisions; the importance of financial and non-financial information; and the processing and reporting for partnerships and companies. They also consider investment opportunities.

UE Approved Subject

Opportunity to take at Scholarship level

Course Overview

Term 1
The year commences exploring how manufacturing businesses allocated costs across projects and jobs (AS91409 - 4 credits), then continues with exploration of how accounting works for partnerships, in relation to their formation and profit distribution processes (AS91405 - 4 credits).

Term 2
In term 2, learners will become familiar with how the financial statements for a company are prepared, particularly Cashflow statements (AS91406 - 5 credits).

Concurrently, learners will research and investigate a real New Zealand business to understand their Annual Financial Reporting, and write a report to demonstrate their understanding (AS91407 - 5 credits).

Term 3
The learning from term 2 will continue into early term 3. It will then be followed by a study of management accounting concepts and how these are used to inform a business' decision-making processes (AS91408 - 4 credits).

Term 4
Revision and exam preparation.

Recommended Prior Learning

Preferable: Accounting Level 2. Learners who have not studied Accounting before will need permission from the HOD Commerce to take this course.

Credit Information

This course is eligible for subject endorsement.

This course is approved for University Entrance.

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

Assessments:
Term: 1, Week: 7

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

Assessments:
Term: 4, Week: 4

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

Assessments:
Term: 3, Week: 1

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

Assessments:
Term: 4, Week: 4

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

Assessments:
Term: 1, Week: 10

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.

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