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 the fundamental concepts of the subject, including the Accounting Equation. During this term, they will work on their first internal assessment, Achievement Standard 2.6 – Understanding of an Accounts Receivable subsystem for an entity. This requires students to process financial information for the entity’s accounts receivable and justify the elements of the system. The assessment will be completed in Week 6. Following this, students will investigate the inventory system of a business as part of their second internal assessment, Achievement Standard 2.7 – Demonstrate understanding of an inventory subsystem for an entity, which is scheduled for completion in Week 10.
Term 2
In Term 2, teaching and learning will focus on the first external standard for the year, Achievement Standard 2.3 – Preparing financial information for an entity that operates accounting subsystems. Students will learn how to prepare financial statements, including the Income Statement, Statement of Financial Position, and Cash Flow Statement. These skills will be formally assessed during the Mid-Year Exams. After the exams, students will complete their final internal assessment, Achievement Standard 2.2 – Demonstrate understanding of Accounting Processes using accounting software (XERO). This is an open-book, individual, computer-based assessment completed under teacher supervision, with students permitted to use notes, texts, and other appropriate resources.
Term 3
In Term 3, the focus will shift to 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, with some of the content assessed in the end-of-year school examinations. In the weeks leading up to these exams, students will take part in a structured in-class revision program designed to reinforce their understanding and support exam readiness
Term 4
Finally, Term 4 will be dedicated to comprehensive revision of Achievement Standards 2.3 and 2.4. Students will engage in an extensive, structured program aimed at consolidating their knowledge of key accounting concepts and preparing thoroughly for the NCEA examinations. Revision will be conducted during class time and tailored to meet 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.