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Accounting 3/4 without 1/2

(1/1)

Student2002:
Is picking up 3/4 accounting without doing 1/2 doable or very hard? (Did a unit of accounting in year 10)

dunno2012:
I reckon its doable if you put hard work into it. Stuff we do right now is not so much related to Unit 1&2, but there are some basic skills you need and some parts we actually did in unit 1&2 are repeated in 3&4. And remember the study design changed as well. So I wouldn't know much of unit 1&2 accounting with the new study design as we did 1&2 for the previous study design. But I do know that there are stuff in Unit 1&2 that we don't use in 3&4. Check the study design as well to look for similarities between Unit 1&2 and 3&4. It would be a challenge but, if you have good study habits, you can probably do well.

jurisprudence:
Hey, this seems to be a really popular question!

As dunno2012 has said, picking up VCE Accounting is definitely doable, especially with your Year 10 experience. However, it does put you at a slight disadvantage compared to those who have completed the previous units. Having completed both Units 1/2 and 3/4 of the subject, I can definitely say that there is a significant level of overlap. In Units 1/2 you build many foundational concepts such as:

•   Definitions of the accounting elements;
•   Use of and types of accounting reports;
•   Ethical considerations;
•   Accounting assumptions and qualitative characteristics;
•   Source documents;
•   Distinction between cash vs profit;
•   Financial and non-financial indicators;
•   Inventory cards;
•   Budgeting and
•   Inventory management.

These concepts are used throughout Units 3/4, and those that already have a thorough understanding will be provided with a competitive edge. From my experience, I’ve found that most students who pick up the subject as a 3/4 struggle initially. To succeed in VCE Accounting you must be able to understand the theory and apply this to different scenarios. This is a skill that - for most people -comes through heaps of practice.

That being said, it is not impossible if you are prepared to work hard. Don’t be afraid to ask for help when you don’t understand a concept and seek feedback on your responses! As much of the theory builds on itself, at the beginning of the year you may have a larger workload than most. However, if it’s a subject that you’re really interested in, and prepared to work hard at, don’t let fear hold you back! It’s better to do something that you know you’ll enjoy, than a subject you absolutely hate.

Best of luck for next year!

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