Accounting 2012

[huss48]

Hi guys,
Here is a brief guide to the new study design for vce accounting unit 3 in 2012 from vcaa.

Unit 3: Recording and reporting for a trading business
The process of posting to the general ledger from the general journal and special journals is now done on a monthly basis. The process of balancing the general ledger and subsidiary ledger accounts includes preparation for the next reporting period. Students are required to discuss the function of various aspects of the accounting system for a single activity trading business.
i. Area of Study 1: Recording financial data
ii. Area of Study 2: Balance day adjustments and reporting and interpreting accounting information

Unit 3 Outcome 1
Record financial data for a single activity sole trader using a double entry system, and discuss the function of various aspects of this accounting system. 50 Marks

Unit 3 Outcome 2
Record balance day adjustments and prepare and interpret accounting reports. 50 Marks

*School-assessed Coursework for Unit 3 contributes 17 per cent to the study score.

Unit 3 Exam
Unit 3 Mid-year examination: 33 per cent
FORMAT OF EXAM IS LIKELY TO CHANGE, WILL KNOW MORE IN 2012

[huss48]

Also:
In 2012, The term Income Statement now replaces the term Profit and Loss Statement. (remember this)
Cash Flow, Balance Sheet etc stays the same.

I have uploaded:
- Unit 3 Outcome 1 (AOS 1 ) outline
- Accounting terminology: Accounting principles & Qualitative characteristics (study and learn this, very important)
- Accounting elements (good to know as well)

Will put notes and additional exercises/tasks for U3O1 (AOS1) soon.

[bucklr]

Thank you!!

[Sallyyy]

Thanks!
The whole Income Statement thing is unnecessary. I'm pretty sure they still call it a Profit & Loss Statement in the real world.

[LOLs99]

Thanks a lot.

[huss48]

unit 3 and 4 sac/outcome guide from old study design and new study design.

each sac/outcome is out for 50 marks, some maybe in parts and can be done on computer