VCE Accounting Scope and Sequence

Appendix G Semester Overview

Semester: 1 Year Unit 1

Level:

Boronia K-12 College will provide a safe, supportive and stimulating environment that engages and challenges students to
love learning, experience success and be effective and caring members of the global community.

Unit 1 AOS1 Unit 1 AOS 2

Unit Title Going into business Recording Financial Data and reporting
financial information
Duration of Unit 8 weeks 11 weeks
Concepts/Big Ideas On completion of this unit the student should be able to describe On completion of this unit the student should be able to identify and record
the resources required, and explain and discuss the knowledge the financial data, and report and explain accounting information, for a sole
Essential and skills necessary, to set up a small business. proprietor of a service business.
To achieve this outcome the student will draw on key knowledge To achieve this outcome the student will draw on key knowledge and key
Questions
and key skills outlined in Area of Study 1. skills outlined in Area of Study 2.

Knowledge
What will students
know?
Link to Learning Area
Outcomes (Victorian
Curriculum/VCCA)
reasons for establishing a small business
alternatives to establishing a small business
factors that lead to the success or failure of a small
business
resources required to establish a small business
the role of professionals, such as accountants, business
advisors and professional organisations in providing
advice to achieve business success
internal and external sources of finance, including
features, advantages and disadvantages.
applicable accounting principles and qualitative characteristics of
accounting information
the definition of the accounting elements: assets, liabilities, owners
equity, revenue and expenses
the accounting equation
classification of current and non-current items in the balance sheet
the two-fold effect of transactions on the balance sheet
source and business documents for a service business, including cash
receipts, cheque butts, memos, bank statements

Appendix G
Skills
What will students be
able to do?
Link to Learning Area
Outcomes (Victorian
Curriculum/VCAA)
VCE Accounting Scope and Sequence
Semester Overview
use correct accounting terminology
research information about small business from a range
of sources
apply theoretical knowledge to simulated situations
analyse issues in relation to the establishment of a small
business
explain the sources of finance available to small
businesses
discuss factors leading to the success or failure of a
small business
special journals: cash receipts and cash payments
internal control procedures, including cash control and the bank
reconciliation process
accounting reports:
Statement of Receipts and Payments
Income Statement
Balance Sheet
budgeting for cash and profit:
role and benefits of cash and profit budgeting in planning
and control
budgeted reports for cash and profit
budget variance reports for cash and profit
graphical representations of accounting information.
identify, classify and record financial data
use correct accounting terminology
explain and apply the principles underlying the recording of financial
data and preparation of accounting information
apply theoretical knowledge to simulated situations
explain how control is maintained over an accounting system
prepare and analyse financial reports to make business decisions
prepare budgeted reports for cash and profit, and prepare variance
reports
interpret accounting information from reports and graphical
representations

Capabilities N/A

What capabilities will

be developed in the
students?
 VCE Accounting Scope and Sequence
Appendix G Semester Overview

Critical and
Creative Thinking
Ethical
Intercultural
Personal/Social

(Victorian
Curriculum)

Assessments Major Assessment Major Assessment

SAC 1: SAC 2:
What activities This SAC will consist of; a case study of a small This SAC will consist of; a case study and structured questions
business and structured questions relating to their reporting on financial information and recording financial data
will explore prior
small business and resources used to ensure in journals and Balance Sheets. This will have a 50%
knowledge? success. This will have a 50% weighting for Unit 1 weighting for Unit 1 result.
How will you result.
collect evidence Pre tests/post tests/homework tasks and classroom discussion
of students Pre tests/post tests/homework tasks and classroom will be analysed on major topics in this Area of Study to show
evolving discussion will be analysed on major topics in this student progress.
understanding? Area of Study to show student progress.
Major
assessments /
opportunities for
moderation

Links to Cross NA
Curricular
Priorities

Asia
 VCE Accounting Scope and Sequence
Appendix G Semester Overview
Indigenous
Culture
Sustainability

Excursions NA
Incursions
Camps

Resources Edrolo website and Textbook Edrolo website and Textbook

Cambridge textbook Cambridge textbook
VCAA Study Design VCAA Study Design