Accounting Principles for VCE units1/2 2012

[LOLs99]

You mean? coz I really need to know if there's a major difference between the new study design and the old one.
I'm buying some old study design book from someone.

[huss48]

here it is:

Specific changes
Unit 1: Establishing and operating a service business

The number of areas of study in this unit has been reduced from three to two. The budgeting component (which includes budgeting for cash and profit) has been moved to Area of Study 2 and the investment component deleted. In Area of Study 2 students are required to interpret accounting information from reports and graphical representations. Students are still required to use ICT in at least two of the selected assessment tasks.
i. Area of Study 1: Going into business
ii. Area of Study 2: Recording financial data and reporting accounting information

Unit 2: Accounting for a trading business
The price setting component from Unit 1 is now located in Unit 2. There are still three areas of study in this unit. Students are required to interpret accounting information from written reports and graphical representations. Students are still required to use ICT in at least two of the selected assessment tasks.
i. Area of Study 1: Recording financial data and reporting accounting information
ii. Area of Study 2: ICT in accounting
iii. Area of Study 3: Evaluation of business performance

i have attached the new study design for accounting 2012 for unit 1 and 2

[LOLs99]

OKay tq a lot and does it really matter if I buy the old study design book for accounting 1/2/3/4?

[huss48]

textbook must buy new version.
old textbooks/ notes r still useful to the new study design for next year.  (not much have change for unit 1 and 2 for 2012)

here r the definitions for the accounting elements.

also read the unit 1 and 2 outcomes:  not much have change from old study design and new study design.

[LOLs99]

Alright and what about 3/4..much changes?

[huss48]

read the thread Accounting 2012

first u should study the accounting terms and know them.

[LOLs99]

Could you possibly get me 3/4 outcomes like the second file attached recently?
Btw I read through the definition and realise that the current and non current are the same...

[huss48]

haha, its not the same.
Current Assets
Definition: A resource controlled by the entity as a result of past events from which a future economic benefit is expected to flow to the entity in the next 12 months.

Non Current Assets
Definition: A resource controlled by the entity as a result of past events from which a future economic benefit is expected to flow to the entity for more than 12 months.

here is the unit 3 and 4 sac guide.

[LOLs99]

Lol, yeah, my bad....ahah
Ohh, I need the area of study 3/4 or is it the same thing?
Where did you get this stuff...can't even get it.

[huss48]

i suggest u focus on unit 1 and 2 first then 3 and 4.

it will be be better.

[LOLs99]

Lol, I was planning to change my subjects soon(I reckon), to 3/4 acc.

[huss48]

do u think u know all unit 1 and 2 stuff for accounting??
need to know the basics of that then u wont find 3 and 4 tricky or hard.

[LOLs99]

do u think u know all unit 1 and 2 stuff for accounting??
need to know the basics of that then u wont find 3 and 4 tricky or hard.

Yeah, I was planning to study 1/2 during this holiday and hopefully accounting doesn't require much theory and concepts but just some major ones. I think you will learn the 1/2 stuff again in 3/4 but not just in a brief explanations.