Pukekohe High School
NCEA Level 3 Accounting
Course Description
Head of Faculty - Kaihautuu: Mr B. Silk, Mr M. Naicker.
Level 3 Accounting Overview
The Level 3 Accounting course builds on a solid foundation of accounting knowledge, focusing on manufacturing and job costing for enterprises where accurate service or product costing for clients is essential. This includes a local visit and a detailed report based on the entity's cost system.
Course Coverage:
- Manufacturing and Job Costing: Applying skills to real-world enterprises through local visits and cost system reports.
- Partnerships: Introducing partnerships, covering partnership agreements, formation, profit distribution, and related theory.
- Company Financials: Extending financial statement preparation to include company-specific elements such as taxation, dividends, share equity, and cash flow statements. This serves as valuable general knowledge and a solid foundation for tertiary accounting studies.
- Management Decision Making: Equipping students with tools for informed financial decision-making within an entity.
Course Applications:
The course has widespread applications, benefiting self-employed business owners, career accountants, and managers aspiring to the highest levels of business administration. It focuses on the application, understanding, critical analysis, and interpretation of financial and non-financial information within partnership and company ownership structures.
Key Topics:
- Application, understanding, critical analysis, and interpretation of financial and non-financial information for partnerships and companies
- Job costing
- Management decision-making
- Analysis of financial reports from New Zealand listed companies to advise external users
Requirements:
Students are encouraged to have access to a laptop to complete all internal assessments.
This comprehensive course is designed to provide students with the skills and knowledge necessary for both immediate application and future academic pursuits in accounting.
Course Overview
Term 1
We start with the 4 credit job costing standard. This identifies how a manufacturing or service entity calculates costs for their products and services. A case study is built around a visit to a local manufacturer. The assessment involves a closed book processing component and a digital report.
All four standards use the student workbook to support classroom learning.
At the end of term one we begin the 4 credit partnership standard
Term 2
We continue with partnership accounting with a processing component (open book) and digital report as in term one.
We then work through the 5 credit financial reporting standard. This involves many sub topics leading to the preparation of an income statement, balance sheet and cash flow statement.
Term 3
We complete the 5 credit standard with the aim that students achieve highly in the school derived grade exams (week 5?) Two hours are allowed in closed book formal conditions.
After the exam we begin the 4 credit external management accounting topic. A very high achiever may opt to concurrently attempt the optional Reporting standard. This would aid students targeting Scholarship and/or endorsement.
Term 4
We complete management accounting with a derived grade exam under formal closed book conditions.
After clearance workshops can be arranged based on demand.
Recommended Prior Learning
Students must have completed level one and two accounting. However high achievers in level one, with HOD approval, may opt to miss level 2 accounting.
The course requires both literacy and numeracy skills given the level of processing and reporting.
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 .
Calculator for all assessments.
Pathway
An ideal base for degree course level one accounting in any tertiary commerce or management course
Assessment Information
91409 4 credit internal includes a closed book processing task and a digital report based on a local business visit.91405 4 credit internal with open book processing component and digital report.
For both of the above the processing has a re-sit opportunity and the report has a resubmission opportunity (limited to Achieved)
91406 5 credit external will be assessed in the derived grade exam week and 91409 4 credit external will be assessed for a derived grade in term 4. Both are in the NZQA exams with three hours allowed for the two..
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.
This course is approved for University Entrance.
External
NZQA Info
Accounting 3.2 - Demonstrate understanding of accounting for partnerships
NZQA Info
Accounting 3.3 - Demonstrate understanding of company financial statement preparation
NZQA Info
Accounting 3.4 - Prepare a report for an external user that interprets the annual report of a New Zealand reporting entity
NZQA Info
Accounting 3.5 - Demonstrate understanding of management accounting to inform decision-making
NZQA Info
Accounting 3.6 - Demonstrate understanding of a job cost subsystem for an entity
Approved subject for University Entrance
Number of credits that can be used for overall endorsement: 22
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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