Senior Accounting

Accounting provides opportunities for students to develop an understanding of the essential role of organising, analysing and communicating financial data and information in the successful performance of any organisation.

Students learn fundamental accounting concepts in order to understand accrual accounting
and managerial and accounting controls, preparing internal financial reports, ratio analysis and interpretation of internal and external financial reports. They synthesise financial data and other information, evaluate accounting practices, solve authentic accounting problems, make decisions and communicate recommendations.

Students develop numerical, literacy, technical, financial, critical thinking, decision-making and problem-solving skills. They develop an understanding of the ethical attitudes and values required to participate effectively and responsibly in a changing business environment.

Pathways

A course of study in Accounting can establish a basis for further education and employment in the fields of accounting, business, management, banking, finance, law, economics and commerce.

Objectives

By the conclusion of the course of study, students will:

  • describe accounting concepts and principles
  • explain accounting concepts, principles and processes
  • apply accounting principles and processes
  • analyse and interpret financial data and information to draw conclusions
  • evaluate accounting practices to make decisions and propose recommendations
  • synthesise and solve accounting problems
  • create responses that communicate meaning to suit purpose and audience.

Structure

Unit 1: Real World Accounting
  • Accounting for a service business — cash, accounts receivable, accounts payable and no GST
  • End-of-month reporting for a service business

Formative Internal Assessment 1: Examination - combination response

25

Unit 2: Management Effectiveness
  • Accounting for a trading GST business
  • End-of-year reporting for a trading GST business

Formative Internal Assessment 2: Examination — combination response

25

Formative Internal Assessment 3: Project - End-of-year reporting

25

Unit 3: Monitoring a Business
  • Managing resources for a trading GST business – non-current assets
  • Fully classified financial statement reporting for a trading GST business

Summative Internal Assessment 1: Examination — Combination response

25

Summative Internal Assessment 1: Examination — Combination response

25

Unit 4: Accounting - The Big Picture
  • Cash management
  • Complete accounting process for a trading GST business
  • Performance analysis of a listed public company

Summative Internal Assessment 3: Project — Cash management

25

Summative External Assessment: Examination — Short response

25

Contact

Mr Wes Warner

wwarner@mfac.edu.au

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