Assessment Type 1: Accounting Skills

For a 10-credit subject, students undertake three accounting skills tasks. For a 20-credit subject, students undertake six accounting skills tasks.

The accounting skills tasks enable students to demonstrate their learning across the learning strands studied.

Individual tasks within accounting skills may relate to one focus area or a combination of focus areas. The accounting skills tasks should cover the focus areas studied.

In the set of accounting skills tasks, students demonstrate and apply understanding of accounting concepts and conventions to create accounting information. They develop an understanding of the accounting information needs of stakeholders and the role of accounting in decision-making. Students explore, apply, and analyse accounting information to meet the needs of stakeholders. Using appropriate terminology, students communicate accounting information.

Scenarios for an accounting skills task may include, for example:

• preparing a balance sheet and/or income statement based on provided data. Students calculate appropriate ratios to assist a relevant stakeholder review the performance of the business.
• researching the set-up costs of a new business, such as an online graphic design business. Students also examine possible sources of finance for the start-up business. They synthesise their findings and present these as an infographic.
• developing different budget options as part of a proposal for a school event, such as the school formal. Students research different venue, catering, and entertainment options, as well as funding alternatives. They present their findings to the student council.

The accounting skills tasks may be presented in multimodal, oral, or written form.

• For a 10-credit subject, the tasks as a set comprise a maximum of 2400 words if written, or the equivalent in oral or multimodal form, where 6 minutes is equivalent to 1000 words. This is inclusive of all financial statements.
• For a 20-credit subject, the tasks as a set comprise a maximum of 4800 words if written, or the equivalent in oral or multimodal form, where 6 minutes is equivalent to 1000 words. This is inclusive of all financial statements.

For this assessment type, students provide evidence of their learning primarily in relation to the following assessment design criteria:

• understanding and exploration
• application.