Year 11 Accounting
11ACC Subject DescriptionTeacher in Charge: Mrs V. McDermott.
This course aims to:
● Develop students’ understanding of the role in society as a financial language for individuals/households/community organisations and sole proprietors.
● Provide students with knowledge of the principles, processes and systems of financial information, knowledge and skills to enable decisions to be made.
● Provide students with sufficient base knowledge to be able to perform well in Year 12 Accounting.
At Curriculum Level 6, ākonga will...
- use concepts, models, or financial statements to communicate financial and non-financial information
- understand that due to scarcity, decisions need to be made
- investigate how pūtake informs financial and non-financial decision-making
- understand that decisions made by organisations impact themselves and society
- understand what is necessary for organisations to be financially viable
- use a financial management tool to assist decision making for financial viability
- recognise that Māori, indigenous Pacific knowledges, and other perspectives inform a range of concepts that influence decision-making
Subject Overview
Term 1
Teaching and Learning for Commerce 1.1 internally assessed standard,.
Purpose
Students are able to demonstrate understanding of an organisation’s financial decision making.
• describing options available for the organisation to address a need, issue, or opportunity
• describing a decision using supporting information from a financial tool
• describing how the decision addresses the need, issue, or opportunity.
• explaining how stakeholder perspectives informed the decision making
• explaining possible consequences of the decision for the organisation and stakeholders.
• analysing how the decision integrates stakeholder perspectives and responds to possible consequences.
As part of the evidence provided, students must include discussion of pūtake in the context of the process that leads to an organisation’s financial decision.
An organisation is a group of people who work together with a particular purpose. Examples include: whānau, hapū, or iwi; clubs; charities; businesses.
Financial tools are tools that are used by an organisation for financial management. Examples include: a price/feature comparison chart; a SWOT analysis; a budget; a cost-benefit analysis; an online calculator or form (for example, in considering finance options).
Stakeholders are people or groups with an interest or concern in something, especially a business. Examples of stakeholders include: employees; suppliers; whānau, hapū, or iwi.
Term 2
Students will be introduced to a range of accounting concepts, and will have the opportunity to develop their accounting skills. Examples: double entry processing; preparation of income statement; cash flow statement; statement of financial position; balance day adjustments; analysis and interpretation of financial and non-financial information. This knowledge and understanding is vital for students to ensure greater success when they enter into Year 12 Accounting.
Term 3
Teaching and Learning for Commerce 1.4 external standard.
Purpose
Students are able to demonstrate understanding of how an organisation's financial viability is affected by an event.
Demonstrate understanding of how an organisation's financial viability is affected by an event involves:
• describing how an organisation is financially viable, supported by a model or concept
• describing how an organisation's financial viability is negatively affected by an event.
• explaining how an organisation’s financial viability is affected by an event, supported by a model or concept
• describing actions the organisation could take to remain financially viable.
• analysing a recommended action in response to an event for the organisation to remain financially viable, informed by a model or concept.
As part of the evidence provided, students must include discussion of pūtake in the context of demonstrating understanding of how an organisation's financial viability is affected by an event.
Financial viability means the ability of an organisation to continue operating from a financial perspective over time.
Models or concepts are used to observe, understand, and make predictions about economic behaviour. Examples include: supply and demand model; income statement; cost/volume/profit analysis; cost/benefit analysis.
An event is something that happens that has economic significance to an organisation. Examples include: a change in market conditions; a natural event; a change for a stakeholder.
Term 4
Continued preparation for the Commerce 1.4 standard external assessment.
Pathway
Year 12 Accounting, Year 12 Business Studies
Contributions and Equipment/StationeryStudent Workbooks $10 incl GST
Market Day Capital $20