Download Year 11 CS1 Website Plan

YEAR 11 ACCOUNTING
UNIT:
CS1 Core Studies 1 – Introduction to Accounting
UNIT OVERVIEW
Students will be able to enter accounting transactions, including GST, into a
general journal, post to a ledger and prepare a trial balance from their
knowledge of fundamental accounting concepts.
ASSESSMENT:
Practical assessment, supervised conditions, exam assessing KPP
(Knowledge and procedural practices).
UNIT DETAILS:
No
Learning Goal
Success Criteria
(I Know I’ve got it when I can …)
1
Define Accounting and identify the factors
impacting on accounting and the accounting
profession.
Recall the three distinct elements of the
Accounting definition and state various
employment avenues for accountants.
2
Define accounting terminology relating to the
unit Core Studies 1.
Recall and explain terminology definitions that
relate to this unit.
3
Explain the concept of separate accounting
entity.
Explain the accounting entity assumption.
4
Define the different types of accounts, the
accounting equation, the rules for debit and
credit.
Define assets, liabilities, owner’s equity,
revenue and expenses; and state the nature
of each and the rules for increases and
decreases to these accounts.
5
Classify accounts into the 5 types.
Correctly classify a range of commonly used
accounts as assets, liabilities, owner’s equity,
revenue or expenses.
6
Describe the accounting entity assumption.
Explain the purpose of the accounting entity
assumption.
7
Explain the function of source documents.
Identify the various source documents used to
record various transactions.
8
Analyse a variety of transactions and record
these in a transaction table.
Accurately prepare transaction tables
incorporating all 5 types of accounts.
9
Record transactions, incorporating GST, and
using perpetual inventories with amounts
given for cost of goods sold into a general
journal.
Accurately record transactions in the general
journal for opening entries, sale and purchase
of inventories and non-current assets, sales
and purchases returns, cash receipts and
payments, drawings of cash and inventories,
and correction of errors.
10
Post the general journal to the columnar
ledger, using a chart of accounts.
Organise accounts in the general journal into
the correct order in the ledger and post the
journal to the ledger.
11
Prepare a trial balance from a ledger.
Explain the purpose of preparing a trial
balance, prepare this report from the ledger
and detect and correct errors that may be
evident in the ledger.
12
Record transactions into a general journal,
post to the ledger and prepare a trial balance.
Correctly prepare general journal entries, post
to the ledger and complete a correctly
balanced trial balance.