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Towards 2013: Approaches to a one exam course Vicki Baron Celia Mara

Towards 2013: Approaches to a one exam course Vicki Baron Celia Mara Haileybury College Toorak College. Towards 2013: Approaches to a one exam course. OVERVIEW OF CHANGES EXAM One exam in November Two hour duration

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Towards 2013: Approaches to a one exam course Vicki Baron Celia Mara

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  1. Towards 2013: Approaches to a one exam course Vicki Baron Celia Mara Haileybury College Toorak College

  2. Towards 2013: Approaches to a one exam course OVERVIEW OF CHANGES EXAM One exam in November Two hour duration 100 marks (equate to 1.2 minutes per mark compared to 1 minute per mark) COURSEWORK Unit 3 Coursework 25% (previously 17%) Unit 4 Coursework 25% (previously 17%) EXAM 50% (previously 66%)

  3. Towards 2013: Approaches to a one exam course UNIT 3 Area of Study 1 50% Area of Study 2 50% At least 30 marks ICT based UNIT 4 Area of Study 1 50% Area of Study 2 50% Outcome 2A Budgeting 30% Outcome 2B Analysis 20%

  4. Towards 2013: Approaches to a one exam course NEW CONTENT Unit 3 Add – Bank Statements as a source document Otherwise no new content to Unit 3 and Unit 4

  5. Towards 2013: Approaches to a one exam course NEW CONTENT Unit 3 Add – Bank Statements as a source document Otherwise no new content to Unit 3 and Unit 4

  6. Towards 2013: Approaches to a one exam course DELIVERY OF UNIT 3 AND 4 ACCOUNTINGAN ALTERNATIVE APPROACH

  7. Towards 2013: Approaches to a one exam course

  8. ACCOUNTING UNIT 3: TEST OUTCOME U3 1A ( 17 )/U4 2A(38 ) RECORDING AND REPORTING FOR A TRADING FIRM Unit 3 - Outcome 1A - Covering Key knowledge from Area of Study 2 Recording and reporting balance day adjustments Straight line method of depreciation Prepaid expenses (asset approach, GST recorded at time of payment) Accrued expenses (GST recorded at time of payment) the payment of accrued expenses in subsequent periods Classified accounting reports : Cash Flow Statement; Income Statement; Balance Sheet CONTROL AND ANALYSIS OF BUSINESS PERFORMANCE Unit 4 - Outcome 2A – Covering Key Knowledge from Area of Study 1 The recording and reporting of balance day adjustments Liability approach of recording prepaid revenue with no GST being recorded at the time of the deposit Accrued revenue with GST being recorded at the time of receipt Receipt of accrued revenue in the subsequent reporting period The reducing balance method of depreciation The implications of the use of alternative methods of depreciation on accounting reports

  9. Towards 2013: Approaches to a one exam course Using Graphs m course • Explain if the profitability of the business has improved giving reasons to support your answer. • Explain how it is possible for the GPM to improve whilst the NMP decreases unfavourably. • Suggest reasons for the decline in the ROI. • Is it possible for NP to increase yet NPM to decrease, explain. • Is it possible for the NP to decrease yet ROI improve, explain • Comment on the change in the debt ratio. • Explain the impact of the debt ratio on the profitability of the business. NEW CONTENT Unit 3 Add – Bank Statements as a source document Otherwise no new content to Unit 3 and Unit 4

  10. ACCOUNTING UNIT 4: OUTCOME 1A (30%)/2B(7%) EXTENSIONS TO RECORDING STOCK, STOCK VALUATION, EVALUATION OF BUSINES PERFORMANCE Outcome 1A - Covering Key knowledge from Area of Study 1 (30%) applicable accounting principles and qualitative characteristics of accounting information the accounting system as developed in Unit 3 source and business documents as outlined in Unit 3, and credit notes for sales returns by trade debtors and purchase returns to trade creditors returns of stock recorded in the general journal: sales returns from trade debtors purchase returns to trade creditors stock valuation: product and period costs lower of cost and net realisable value including stock write down recording of transactions into special and general journals, general and subsidiary ledgers and stock cards the effect of transactions on the accounting equation and accounting reports. Outcome 2B – Covering Key Knowledge from Area of Study 2 (7%) measures for evaluating profitability, liquidity, efficiency: financial indicators trends benchmarks the use of non-financial information strategies to improve profitability and liquidity strategies for the management of stock, debtors and creditors.

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