ACCOUNTING
INTRODUCTION
Accounting is the language of business and if business cannot manage its
cash flows and make money it will fail. Nearly half of all top executives
have an accounting background. Accounting provides students with knowledge
and important thinking skills for successfully understanding financial
processes not only for business but also for their own investments. Accounting
is a system of recording, classifying, reporting, analysing and interpreting
financial information about business enterprises to interested parties
using various forms of technology.
There is a NEW syllabus
starting in 2004 and there are many exciting areas of study on offer.
These areas of study incorporate more technology, namely computer software,
and relevant and current issues into the course of Accounting.
PREREQUISITES
The study of Business Education in years 9 and 10 provide students with
a 'taste' of Accounting, Legal Studies, and Economics. There are no prerequisites
as such but a sound result or better in maths will assist students in
doing well.
Abilities you will Require to Study Accounting Successfully
It is essential for success in the subject to take theory notes in class
and from the textbook, and to study this theory diligently for examinations.
The practical work involves both routine and challenging applications.
Successful students invariably ask questions in class and seek out extra
exercises to complete in their own time.
AREAS OF STUDY - Order and elective are yet to be finalised.
| AREA |
GENERAL SUBJECT
MATTER |
| Foundation Studies |
1. Introduction
and current thinking
2. Accounting Principles and classifications
3. Debit and Credit rules
4. Function of source documents5. Introduction to GST and tax |
| Recording and
Controls |
1. Spreadsheeting
for Cash Journals
2. Bank Reconciliation
3. Debtors and Creditors
4. Inventories
5. Non-Current Assets
6. Internal Controls
7. Electronic Business |
| Reporting and
Decision Making |
1. Accounting
Assumptions
2. Balance Day Adjustments
3. Presentation of end of year reports
4. Accounting Qualitative Characteristics
5. Managerial Decision making
6. Budgeting |
| Accounting Package
(Computer software) |
1. Computer process
v Manual process
2. Computer package including GST |
| Elective Studies
(choices) |
1. Personal financing
and investing
2. School developed elective
3. Independent study |
Skills You Should
Learn from the Course
- Knowledge and thinking
skills for business finance that are directly transferable to employment
or further study.
- An appreciation
of the importance of technology for business
- Higher order thinking
skills, specifically in interpretation and evaluation.
- An ability to express
and communicate in business terms.
- Greater abilities
to reason methodically and logically.
- A greater awareness
of employment opportunities in the business world.
WORKLOAD
Most nights, students
would be required to complete practical work commenced in class during
the day. This would normally involve 20 - 30 minutes of homework. Students
who wish to ensure their success do, however, revise previously completed
exercises in their own time. Study of Accounting theory must also be undertaken
by students in their own time.
ASSESSMENT
Usually there would
be approximately 4 hours of formal examinations per semester.
About 30% of learning experiences will focus on Factual Knowledge and
Understanding and Interpretation and Evaluation; 70% on Practical Application,
which is to be divided equally into Routine and Challenging application.
Semesters II, III
and IV count towards the exit level of achievement and students must achieve
the designated standard in each of the 3 exit criteria, from which is
determined the exit level of achievement.
ADDITIONAL INFORMATION
Further details will
be contained in the Work Program when it is approved by the Queensland
Studies Authority's state panel. A copy will eventually be available in
the College Library.
BUSINESS
EDUCATION
Business Education
provides students with a more realistic understanding of the world of
business and opportunities for practical application of information. Every
person should have some understanding of how business works, because every
person is a stakeholder, be it employer, employee, owner, customer, or
supplier.
Business education
provides students with opportunities to develop knowledge, practices and
dispositions to meet immediate personal needs, participate as a responsible
employee, and prepare to own or manage a business. Knowledge gained from
this course will assist students when undertaking senior subjects such
as Accounting, Economics, Legal Studies and Small Business Management.
Business Education is a two year course, although each year stands alone
for assessment purposes.
At the completion
of this course students should be able to;-
- Understand the
workings and environments of business.
- Buy and sell shares
on the Australian Stock Market.
- Use information
technologies and other technologies to record, report, design, and create
business information and products, and communicate relevant details
to stakeholders.
- Identify and respond
to business opportunities and challenges using entrepreneurial skills.
- Participate in
entrepreneurial activities.
- Work and communicate
effectively within a team.
Suggested Semester
plans for the two years are listed below. These units are designed to
provide flexible delivery.
SEMESTER 1 STRAND: BUSINESS AND ECONOMIC SYSTEMS
UNITS:
1 Business organisations as Systems
2 Business as a Producing Unit
3 Business Environment
SEMESTER 2 STRAND:
ENTERPRISE AND VENTURES
UNITS:
1 Entrepreneurial Activity
2 Marketing
3 Types of Business Organisations
4 Share Market
5 Information for Decision Making
SEMESTER 3 STRAND:
SYSTEMS (BUSINESS PROCEDURES)
UNITS:
1 Business Transactions
2 Records Management: Personal
3 Records Management: Business
4 Storage and Retrieval of Information
5 Business Accountability
STRAND: COMMUNICATION
(BUSINESS PROCEDURES)
UNITS:
1 Interacting with Systems, Structures and Organisation
2 Styles of Communication
3 Forms of Communication
4 Cultural Differences
5 Technologies
6 Oral Communication
SEMESTER 4 STRAND:
WORK ENVIRONMENTS
UNITS:
1 Roles, Rights and Responsibilities in Work Environments
2 Changing Nature of Work
3 Work Environments and Legal Processes
4 Using Technologies to Design and Manage Workplace Systems.
Accounting
|Business Education
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