Level 2 Accounting
12ACC Course DescriptionTeacher in Charge: Mrs C. Labuschagne.
Entry CriteriaStudents must meet the requirements to study a Level 2 NCEA Award.
Level 2 Accounting
Accounting is the process of preparing and communicating financial information to a wide range of users. The course gives students the tools to make real life financial decisions in a constantly changing and uncertain world and helps individuals and organizations to be accountable to stakeholders for their actions. In this course you will develop your understanding of the role of accounting in society as a financial language for businesses, in particular sole traders.
Xero is used by small businesses, accountants, bookkeepers, schools and universities in over 180 countries around the world. Using a global platform means students are using real business software to develop real workplace skills while they learn to process business transactions. Students will also use the computer applications software, Xero, to learn how accounting is practiced in the workplace.
The Accounting course will be extended through the completion of a Level 3 standard, designed to deepen students’ understanding of accounting processes and various business structures. This extension will be offered exclusively to students who demonstrate strong capability in the subject.
Course Overview
Term 1
Students will be introduced to Accounting through a structured program that begins with a focus on Achievement Standard 2.3 in Term 1.
During this term, students will learn how to prepare financial statements for an entity operating accounting subsystems. This includes the preparation of the Income Statement, Statement of Financial Position, and Cash Flow Statement.
These skills will be formally assessed during the Mid-Year Exams in Term 2.
Term 2
The students will be working on their first internal assessment, 2.2 - Demonstrate understanding of Accounting Processes using accounting software (XERO). This is an open book individual assessment. Students will have access to notes, texts, and any other appropriate resources. This assessment is a computer-based activity using a software package and is to be completed at school under teacher supervision.. During mid-year exams students will be tested on 2.3 which was taught during term 1. After mid-year exams the focus will be on the next internal, 2.6 – Understanding of an Accounts Receivable subsystem for an entity. Students will be required to process financial information for the entity’s accounts receivable and justify elements of the entity’s accounts receivable system.
Term 3
This term, teaching and learning will centre on the final external standard for the year: Achievement Standard 2.4 – Interpret accounting information for entities that operate accounting subsystems.
Students will explore key topics within this standard, some of which will be assessed in the end-of-year school examinations.
In the weeks leading up to these exams, students will participate in a structured in-class revision program, designed to reinforce understanding and support exam readiness.
Term 4
Term 4 will focus on a comprehensive revision of Achievement Standard 2.3.
Students will engage in an extensive, structured revision program aimed at reinforcing their understanding of key accounting concepts in preparation for the NCEA examinations.
Revision for both Achievement Standards 2.3 and 2.4 will be conducted during class time and will be tailored to address the specific learning needs of each student, ensuring targeted support and effective exam preparation.
Pathway Equipment/Stationery and Course Costs
This course makes significant use of digital learning material at various times during the year. It is advantageous for a student to have a laptop during these times. Some learning activities, including assessments, will not be able to be completed without a laptop.