L2ACC

Accounting Level 2

Course Description

Teacher in Charge: Mr B. Choromanski

The financial affairs of sole traders will be studied right through to presentation of financial statements. At this level students are also introduced to a more in depth study of analysis and interpretation of financial reports. Also included are accounting for inventory and fixed asset subsystems.

General
This course aims to:
• Develop student’s understanding of the role in society as a financial language for sole proprietors
• 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 five major themes. They build on what was learnt at Year 10 and Level 1. Entities at this level are limited to service and trading enterprises.
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 tranactions for particular entities
Theme 3 Accounting Systems
You will learn to be able to Demonstrate an understanding of accounting processes for accounting subsystems
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

Achievement of: 15 credits in Level 1 Accounting including a pass in 1.1, 1.6 and 1.7, or selected Mathematics Achievement Standards

Pathway

Career Pathways

Credit Information

Total Credits Available: 20 credits.
Externally Assessed Credits: 13 credits.
Internally Assessed Credits: 7 credits.

Assessment
Description
Level
Internal or
External
Credits
L1 Literacy Credits
UE Literacy Credits
Numeracy Credits
A.S. 91174 v2
NZQA Info
Accounting 2.1 - Demonstrate understanding of accounting concepts for an entity that operates accounting subsystems
Level: 2
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: 0
A.S. 91176 v2
NZQA Info
Accounting 2.3 - Prepare financial information for an entity that operates accounting subsystems
Level: 2
Internal or External: External
Credits: 5
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0
Numeracy Credits: Y
A.S. 91177 v2
NZQA Info
Accounting 2.4 - Interpret accounting information for entities that operate accounting subsystems
Level: 2
Internal or External: External
Credits: 4
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: Y
A.S. 91179 v2
NZQA Info
Accounting 2.6 - Demonstrate understanding of an accounts receivable subsystem for an entity
Level: 2
Internal or External: Internal
Credits: 3
Level 1 Literacy Credits: Y
University Entrance Literacy Credits: 0
Numeracy Credits: Y
A.S. 91405 v2
NZQA Info
Accounting 3.2 - Demonstrate understanding of accounting for partnerships
Level: 3
Internal or External: Internal
Credits: 4
Level 1 Literacy Credits: 0
University Entrance Literacy Credits: 0 *
Numeracy Credits: Y
Credit Summary
Total Credits: 20
Total Level 1 Literacy Credits: 11
Total University Entrance Literacy Credits: 0
TotalNumeracy Credits: 16

Approved subject for University Entrance

Number of credits that can be used for overall endorsement: 4

Only students engaged in learning and achievement derived from Te Marautanga o Aotearoa are eligible to be awarded these subjects as part of the requirement for 14 credits in each of three subjects.

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