NCEA Level 2 Accounting
Course Description
Head of Faculty - Kaihautuu: Mr B. Silk, Mr M. Naicker.
Level 2 Accounting Overview
Level 2 Accounting equips students with essential skills to make informed financial decisions, enhance their financial literacy, and ensure accountability for individuals and organizations to their stakeholders.
Course Coverage:
- Practical Application: Understanding and applying fundamental accounting assumptions.
- Data Processing: Converting simple and complex data into meaningful information using accounting software.
- Subsystems: Managing accounts receivable and inventory, including necessary controls for accuracy.
- Financial Reports: Preparing and interpreting financial reports that meet user needs and adhere to professional and legal standards.
Course Requirements:
Students are encouraged to have access to a laptop to facilitate the preparation and completion of internal assessments using an accounting software package.
Prerequisites:
This course assumes successful completion of the core Level One Commerce papers. Consistent effort and regular home study are crucial as the topics are interconnected.
Additional Information:
Pukekohe High School has a strong track record in this subject, and students are encouraged to utilize the Term Four revision period to address any difficulties. The course content aligns closely with Stage One tertiary papers, rewarding a strong work ethic both academically and professionally. High accounting grades are highly valued in CVs, as financial literacy is a sought-after skill in all employment sectors.
Course Overview
Term 1
Achievement Standard 2.7 Cash Flow Forecasting 4 credits
This requires an in-class assessment involving accounting entries and a report outlining a case study example. A re-sit opportunity exists for the practical task and, under certain conditions, a report re-submission opportunity exists if students can improve their grade. Reports must be entirely the own work of each student. NB Teachers cannot identify specific errors or text for the resubmission. The re-sit will be based on a new case study.
Achievement Standard 2.7 Inventory Management 3 credits
This requires an in-class assessment involving accounting entries and a report outlining a case study example. A re-sit opportunity exists for the practical task and, under certain conditions, a report re-submission opportunity exists if students can improve their grade. Reports must be entirely the own work of each student. NB Teachers cannot identify specific errors or text for the resubmission. The re-sit will be based on a new case study.
Term 2
Achievement Standard 2.5 A Topical Issue in Accounting 4 credits.
This is a group assessment where students will have the ability to choose their own “issue” and an entity that it affects and thus they can select a topic of personal interest. They will collaborate on the research, preparation and presentation of their report and will be required to keep an individual log of their contributing actions towards assessment for grading. A re-submission opportunity will be available.
Term 3
Achievement Standard 2.3 – Accounting Subsystems: 5 Credits
Students will be assessed on their ability to process financial information. This involves preparing accounting entries in the general journal, preparing general ledger for adjustments and closing entries and preparing complete financial statements for the owner of the entity.
The derived grade exam (week 5?) will only include this standard.
Term 4
4 weeks
This is a revision period for the external standard and a final opportunity for reassessments where allowable.
Students should regularly look at www.nzqa.govt.nz and www.tki.org.nz so that they are familiar with course requirements, past assessments, examiners’ reports etc. The school Microsoft Teams page will list relevant resources, study notes and past assessments.
Recommended Prior Learning
Level 1 Commerce is a prerequisite given this course's reliance on the level one processing skills.
Contributions and Equipment/Stationery
A personal laptop is essential for this course. If obtaining one is a barrier, please contact Ben Silk, the Kaihautu/Head of Social Sciences, at .
Pathway
It is highly recommended that you have done Level 1 Commerce before choosing this course. The course supports most Commerce pathways and self employment. Business Studies students will also benefit from the content.
Assessment Information
Internal Assessments:Achievement Standard 2.7 - Inventory Management (3 credits)
This requires an in-class assessment involving accounting entries and a report outlining a case study example. A re-sit opportunity exists for the practical task and, under certain conditions, a report re-submission opportunity exists if students can improve their grade. Reports must be entirely the work of each student. NB Teachers cannot identify specific errors or text for the resubmission. The re-sit will be based on a new case study.
Achievement Standard 2.10 - Cash Flow Forecasting (4 credits)
This requires an in-class assessment involving accounting entries and a report outlining a case study example. re-sit opportunity exists for the practical task and, under certain conditions, a report re-submission opportunity exists if students can improve their grade. Reports must be entirely the work of each student. NB:
Credit Information
You will be assessed in this course through all or a selection of the standards listed below.
This course is eligible for subject endorsement.
External
NZQA Info
Accounting 2.3 - Prepare financial information for an entity that operates accounting subsystems
NZQA Info
Accounting 2.7 - Demonstrate understanding of an inventory subsystem for an entity
NZQA Info
Accounting 2.5 - Demonstrate understanding of a contemporary accounting issue for decision-making
NZQA Info
Agribusiness 2.10 - Demonstrate understanding of cash flow forecasting for a business