Accounting

Accounting

What is Accounting about?

Accounting is the financial language of business and non-profit organisations. As such, it is probably the most useful tool our students can have when entering the business or non-profit world.

It enables our students to develop the knowledge and skills to manage the financial affairs of individuals, communities, and businesses.

  • It gives students the tools to make real life financial decisions in a constantly changing and uncertain world and enhances financial literacy.
  • Accounting is the process of preparing and communicating financial information to a wide range of users.
  • Accounting helps individuals and organizations to be accountable to stakeholders for their actions.

Overall, Accountants can share their knowledge and use their skills to contribute to their families, whānau, and communities. For example, becoming the treasurer of a local club or managing the family budget.

The big ideas in Accounting

These are the driving concepts and values that underpin the practice of accounting. These concepts and values support our students to contribute to the well-being of New Zealand as actively involved, confident, connected, and responsible citizens.

Integrity: being honest, responsible, and accountable and acting ethically with awareness of social and cultural differences.

Accountability: justifying and taking responsibility for actions and decisions; adhering to the law and keeping accurate records of property, documents, or funds.

Confidentiality: being trustworthy and having the ability to keep the financial affairs of others secure and not passing on private information other than to those with a legal right.

Reliability: being trusted and organised and having the ability to deliver on time.

Relevance: being able to connect current information and keep up to date on any changes that may affect financial decision-making.

Citizenship: understanding the importance of contributing to the community and being able to be fiscally responsible.

Sustainability: the need for an entity to operate profitably taking into consideration ecological issues.

Level 1 - Accounting

AS90976   1.1  | Demonstrate understanding of accounting concepts for small entities. |  3 credits |  External

AS90977 1.2  | Process financial transactions for a small entity. |  5 credits  |   Internal

AS90978 1.3  | Prepare financial statements for sole proprietors |  5 credits  |  External

AS90979 1.4  | Prepare financial information for a Community Organisation’s Annual General Meeting |  4 credits  |  Internal

AS90980 1.5  |  Interpret accounting information for sole proprietors  |  4 credits  |  External

AS90981 1.6   |  Make a financial decision for an individual or group|  3 credits  |   Internal

AS90982   1.7  | Demonstrate understanding of cash management for a small entity. |  4 credits  |  Internal

Level 2 - Accounting

AS91174 2.1   | Demonstrate understanding of accounting concepts for an entity that operates accounting subsystems. |  4 credits  |  External

AS91175 2.2  | Demonstrate understanding of accounting processing using accounting software. |  4 credits  |  External

AS91176 2.3  | Prepare financial information for an entity that operates accounting subsystems. |  5 credits  |  External

AS91177  2.4  | Interpret accounting information for entities that operate accounting subsystems. |  4 credits  |  External

AS91481 2.5  | Demonstrate understanding of a contemporary accounting issue for decision-making. |  4 credits  |   Internal

AS91179 2.6  | Demonstrate understanding of an accounts receivable subsystem for an entity. |  3 credits  |   Internal

AS91386 2.7 | Demonstrate understanding of an inventory subsystem for an entity. | 3 credits | Internal

Level 3 - Accounting

AS91404   3.1  |Demonstrate understanding of accounting concepts for a New Zealand reporting entity. |  4 credits  |  External

AS91405  3.2 | Demonstrate understanding of accounting for partnerships. |  4 credits  |  Internal

AS91406   3.3  | Demonstrate understanding of company financial statement preparation. |  5 credits  |  External

AS91407  3.4  | Prepare a report for an external user that interprets the annual report of a New Zealand reporting entity. |  5 credits  |  Internal

AS91408  3.5  | Demonstrate understanding of management accounting to inform decision-making. |  4 credits  |  External

AS91409 3.6 | Demonstrate understanding of a job cost subsystem for an entity. | 4 credits | 4 credits | Internal