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Accounting

OVERVIEW

This study enables students to:

  • Acquire knowledge and skills to record financial data and report accounting information in a
    manner that is appropriate for the needs of the user
  • Develop an understanding of the role of accounting in managing and operating a business
  • Develop skills in the use of ICT in an accounting system
  • Develop an understanding of ethical considerations in relation to business decision-making
  • Develop the capacity to identify, analyse and interpret financial data and information
  • Develop and apply critical thinking skills to a range of business situations
  • Use financial and other information to improve accounting decision-making within a business
  • The study of accounting is based on the premise that people need to be accountable. As Christians we can go one step further and highlight a very fundamental Biblical principle – that we are all ultimately accountable to God: “Nothing in all creation is hidden from God’s sight. Everything is uncovered and laid bare before the eyes of Him to whom we must give account” Hebrews 4:13
  • This subject develops this principle and focuses more specifically on our accountability to God in relation to money and talents. Matthew 25:14-30: Parable of the talents and Luke 16:1-13: Parable of the shrewd manager.
  • The course also helps encourage careful stewardship of the gifts that God has given through planning and budgeting.

SUBJECT LENGTH

  • Each Unit is 1 semester long. Units 3 & 4 must be completed together in a calendar year for a study score to be generated.

TOPICS INCLUDE

UNIT 1: Role of accounting in business

  • The Role of Accounting
  • Recording financial data and reporting accounting information for a service business

UNIT 2: Accounting and decision-making for a trading business

  • Accounting for inventory
  • Accounting for and managing accounts receivable and accounts payable
  • Accounting for and managing non-current assets

UNIT 3: Financial accounting for a trading business

  • Recording and analysing financial data
  • Preparing and interpreting accounting reports

UNIT 4: Recording, reporting, budgeting and decision-making

  • Extension of Recording and Reporting
  • Budgeting and decision-making

PREREQUISITES

  • There are no prerequisites

ASSESSMENT

Units 1&2

Coursework assessment tasks are selected from:

  • A folio of exercises utilising manual methods and ICT
  • An assignment and report including use of ICT
  • A case study including use of ICT
  • A classroom presentation, role-play or debate
  • Examination

Units 3&4

  • School Assessed Coursework Unit 3 (25%)
  • School Assessed Coursework Unit 4 (25%)
  • External Examination (2 hours) (50%)