Behind every successful business is a clear understanding of its financial position and performance. VCE Accounting introduces students to the processes of recording, reporting and analysing financial information to support informed business decisions.
Personalised one-on-one tutoring, tailored to your school curriculum, learning pace and assessment requirements.
What Will You Learn?
Units 1 & 2 — Foundations of Accounting
01
The Role of Accounting in Business
Explore the role of accounting in establishing and operating a business.
Understand accounting elements, assumptions and qualitative characteristics.
Investigate sources of finance and business decision-making.
Examine ethical considerations and the use of financial information.
02
Recording and Reporting Financial Information
Identify and interpret business source documents.
Record transactions using appropriate accounting procedures.
Prepare and interpret financial reports for service businesses.
Develop an understanding of cash flow, profit and financial performance.
03
Accounting for Trading Businesses
Explore inventory management and recording procedures.
Investigate accounts receivable and accounts payable.
Examine the management and valuation of non-current assets.
Apply accounting concepts to business transactions and decisions.
Units 3 & 4 — Financial Accounting and Decision-Making
01
Recording and Analysing Financial Data
Apply double-entry accounting principles.
Record transactions using the General Journal.
Analyse the effects of transactions on accounting records.
Apply accounting assumptions and qualitative characteristics.
02
Preparing and Interpreting Financial Reports
Prepare financial statements for trading businesses.
Record and report inventory using appropriate valuation methods.
Interpret financial information to assess business performance.
Apply accounting information to practical decision-making.
03
Advanced Recording and Reporting
Investigate balance day adjustments.
Account for depreciation and the disposal of non-current assets.
Apply appropriate recording and reporting procedures.
Evaluate the accuracy and usefulness of accounting information.
04
Budgeting and Financial Decision-Making
Prepare and interpret financial budgets.
Analyse variances between budgeted and actual performance.
Calculate and interpret financial indicators.
Evaluate profitability, liquidity and business decisions.
