L1ACC

Accounting Level 1

Course Description

Teacher in Charge: Mr B. Choromanski

Accounting is the language of business. It provides a system of measuring the money value of transactions in business and for individuals. The course involves personal accounting, financial accounting, the accounting process and the application of these principles and processes to individuals, clubs and sole traders.

General
This course aims to:
• Develop student’s understanding of the role in society as a financial language for partnerships, companies and manufacturing concerns.
• Provide students with knowledge of the principles, processes and systems of Accounting.
• Enable students to apply financial knowledge and skills to practical situations.

This level of study is organised into fiver major themes. These themes will be taught in the following order.
Theme 1 The Conceptual basis of Accounting
You will develop an understanding of the foundations of Accounting, the principles on which it is based and how they are applied in a range of situations.
Theme 2 Processing
You will learn how to record and process the impact of financial transactions for particular entities
Theme 3 Accounting Systems
You will learn to be able to describe and evaluate a job cost system for a business which produces a good or provides a service.
Theme 4 Accounting Reports
You will learn how to present and report financial information to interested parties for particular entities.
Theme 5 Decision Making
You will learn how to analyse, interpret and evaluate financial and non-financial information to make informed decisions.


Recommended Prior Learning

Open Entry, however, it is recommended that you would have achieved a pass in Year 10 Mathematics

Pathway

Career Pathways

Credit Information

Total Credits Available: 24 credits.
Externally Assessed Credits: 12 credits.
Internally Assessed Credits: 12 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 90976 v3
NZQA Info
Accounting 1.1 - Demonstrate understanding of accounting concepts for small entities
3
3
3
Level: 1
Internal or External: External
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90977 v3
NZQA Info
Accounting 1.2 - Process financial transactions for a small entity
Level: 1
Internal or External: Internal
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90978 v3
NZQA Info
Accounting 1.3 - Prepare financial statements for sole proprietors
Level: 1
Internal or External: External
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90979 v3
NZQA Info
Accounting 1.4 - Prepare financial information for a community organisation's annual general meeting
Level: 1
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90980 v3
NZQA Info
Accounting 1.5 - Interpret accounting information for sole proprietors
Level: 1
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 90981 v3
NZQA Info
Accounting 1.6 - Make a financial decision for an individual or group
Level: 1
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
Credit Summary
Total Credits: 24
Total Level 1 Literacy Credits: 14
Total University Entrance Literacy Credits: 0
TotalNumeracy Credits: 0

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