ACCOUNTING AND FINANCE
YEAR 11 – UNIT 1AACF
COURSE OUTLINE –
Week
Content Area
1
Introduction
Jan 6
to
Jan 10
Financial
systems and
fundamental
principles
2
Jan 13
to
Jan 17
3
Jan 20
to
Jan 24
106765094
This course outline is not in sequential order per syllabus, but rather is task based.
Unit Content
Recommended
Activities
Assessment Resources
 Overview of course and assessment 

requirements.


Discuss file organization
Course Expectations
Classroom rules
Powerpoint - financial
of teenagers
 Nature and purpose of documents
What is Money?
Functions of Money
Characteristics of Money
Other methods of payment
Powerpoint – Characteristics of
money.
for recording and communicating of
personal financial information e.g.
Money





literacy
Recording,
processing and
communicating
financial
information
 Importance of personal financial  Financial planning, control and
Evaluating
financial
information for
planning,
coordinating,
controlling and
investing
 Importance of personal financial 
planning, including short and long- 
term goal-setting

 Interpretation of information relevant 
to personal financial management, 
planning, including short and longinvestment.
term goal-setting
 Goal setting and planning.
 What is income – Introduction?
 What is budgeting and expenditure?
 What are savings and investments?
 How are they different?
Financial management
Earning an income
Minimum wage rates
What is taxation?
What are some of the different kinds
for example pay slips and other
of taxes in Australia and Vietnam?
media.
 Why is taxation important?
 Prepare personal budgets.
 Hand out Tax Scales and Tax guide
 Interpretation of information relevant
– part A
to personal financial management  Handout on Pay slips
e.g. Pay slips,
25 February 2013
Task 3
Part A
Filing
Issued
Accounting and Finance
Unit 1A,
Westone – chapter 1 –
“What is money”
Handout
Task 2
Part A
Investment
Investigation
Issued
5%
Accounting and Finance
Unit 1A,
Westone – chapter 2 –
“Income”
Task 1
Part A
Income
Investigation
Issued
Accounting and Finance
Unit 1A,
Westone – chapter 2 –
“Income”
Task 2
Part A
Due in
Accounting and Finance
Unit 1A,
Westone – chapter 4 –
“Taxation”
Page
1
ACCOUNTING AND FINANCE
YEAR 11 – UNIT 1AACF
COURSE OUTLINE –
Week
Content Area
4
Evaluating
financial
information for
planning,
coordinating,
controlling and
investing
Feb 17
to
Feb 21
5
Feb 24
to
Feb 28
6
106765094
Unit Content
Activities
factors affecting financial decision
making e.g. The importance of
compounding interest versus simple
interest



Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 2 & 5
Ed's story
Ed's workings
Ed's annual budget
 Nature and purpose of documents  Activities from Westone
Financial
institutions
 The role of financial institutions that  Activities from Westone
Evaluating
financial
information for
planning,
coordination,
control and
investment
Recommended
Assessment Resources
 Importance of personal financial  Financial goals
planning, (including short- and long-  Budgets
term goal setting), and the financial  Example budget – How Ed did it
Financial
institutions
Financial
systems and
fundamental
principles
Mar 03
To
Mar 07
This course outline is not in sequential order per syllabus, but rather is task based.
for recording and communicating of
personal financial information e.g.
Cheques, bank and credit card
statements,
automatic
teller
machine (atm), eftpos slips and
internet receipts
meet the personal needs of
individuals, for example banks and
credit unions
 Systems
and types of bank
accounts and sources of borrowing
for personal financial management
e.g. Types of credit cards.
 Interpretation of information relevant  Activities from Westone
to personal financial management  Handout on Bank Reconciliations
e.g. bank statements, Credit Card  In class exercises
statements, EFTPOS and other  Handout on bank statements,
media
 Preparation
of
personal
reconciliation statements.
EFTPOS and other media
Task 1
Part A due in
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 3 & 5
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 5 & 6
bank
25 February 2013
Page 2
ACCOUNTING AND FINANCE
YEAR 11 – UNIT 1AACF
COURSE OUTLINE –
This course outline is not in sequential order per syllabus, but rather is task based.
Week
Content Area
Unit Content
7
Financial
systems and
fundamental
principles
 Types
Mar 11
To
Mar 14
8
Mar 17
to
Mar 21
9
Mar 24
to
Mar 28
106765094
Evaluating
Financial
Information –
For planning,
coordinating,
controlling and
investing
Activities
Assessment
of taxation affecting  Hand out - Personal Tax guide
produced by the ATO
individuals e.g. Income tax, GST,
capital gains and fringe benefits
such as cars, mobile phones
 Maintenance
of
personal
financial records for personal
income tax and calculation of tax
payable
 Assessable income
 Allowable deductions
 Union fees,
 Professional associations
 Donations
 Uniform and
 Motor vehicle expenses
 Tax offsets
of
documents  PowerPoint – Insurance
associated
with
personal  Handout on Definitions for insurance
financial
information
e.g.  Dollarsmart exercises
Cheques, application for bank
account or credit card, mobile
phone.
 The
importance of proper
disclosure e.g. Reading fine print
on contracts, providing accurate
financial information
 Sources of youth debt: credit
cards,
mobile
telephone
contracts, rent and student fee
loans
 Implications of personal credit
ratings.
 Preparation
25 February 2013
Recommended
Resources
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 4
Task 4
Closed Book
Test
15%
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 6
Page 3
ACCOUNTING AND FINANCE
YEAR 11 – UNIT 1AACF
COURSE OUTLINE –
This course outline is not in sequential order per syllabus, but rather is task based.
Week
Content Area
10
Recording,
processing and
communicating
financial
information
 The importance of proper disclosure  Hand out - Personal Tax guide
e.g. Reading fine print on contracts,
produced by the ATO
providing accurate financial information.
 Role and benefits of insurance e.g. Car,
travel insurance.
Recording,
processing and
communicating
financial
information
 Preparation of personal budgets
 Identity and function of government
agencies in relation to personal finance
e.g. Department of Consumer and
Employment Protection
 Factors affecting personal financial
decision making e.g. Influence of
media, peer group pressure, beliefs
and values.
Mar 31
to
Apr 04
11
Apr 07
to
Apr 11
12
Apr 14
to
Apr 18
13
Apr 21
to
Apr 25
14
Apr 28
to
May 02
106765094
The role and
influence of
governments
and other
bodies
Unit Content
Activities
Assessment
Recommended
Resources
Task 1
Part B
Investigation
Issued
15%
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 2
 Dollarsmart exercises
Task 3
In class
Essay
5%
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Units 2-8
 Dollarsmart exercises
Task 5
In class
Test
20%
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Units 2-8
Recording,
processing and
communicating
financial
information
 Investment
options
available
to  Activities from Westone
individuals e.g. Superannuation, share
market, property, cash deposits and
long-term investments
 The concept of security on investment
 risk of return
 security on borrowings
 Explain the relationship between risk
and rate of return e.g. interest rates
Recording,
processing and
communicating
financial
information
 Investment options available to  Activities from Westone
individuals e.g. Superannuation, share
market, property, cash deposits and
long-term investments
 Sources of financial advice e.g. Banks,
media, and financial advisors.
25 February 2013
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 9, 10 & 11
Task 2
Due to be
Handed in
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit 9, 10 & 11
Page 4
ACCOUNTING AND FINANCE
YEAR 11 – UNIT 1AACF
COURSE OUTLINE –
This course outline is not in sequential order per syllabus, but rather is task based.
Week
Content Area
Unit Content
Activities
15
May 5
to
May 12
Recording,
processing and
communicating
financial
information
 Case study on budgeting and debt  “To the Max” case study
management.
 “Drivers Seat” case study
 Case study – lending, budgeting and
insurance
16
EXAMS
Assessment
Task 6
In-class Test
15%
Recommended
Resources
Accounting and Finance
Unit 1A, WestOne
Services, West Perth,
Western Australia, 6005
Unit content
This unit includes knowledge, understandings and skills to the degree of complexity described below. Recommended time to be spent on content areas is
specified in brackets.
Financial institutions and systems (10–15%)

Financial institutions
The role of financial institutions that meet the personal needs of individuals e.g. Banks (include internet and phone banking), credit unions, retail stores and
telecommunications companies.
Financial systems and fundamental principles
 Nature and purpose of documents for recording and communicating of personal financial information e.g. Cheques, bank and credit card statements, automatic
teller machine (ATM), eftpos slips and internet receipts
 Systems and types of bank accounts and sources of borrowing for personal financial management e.g. Types of credit cards
 The concept of security on investment
 risk of return
 security on borrowings
 explain the relationship between risk and rate of return e.g. interest rates
 the importance of proper disclosure e.g. reading fine print on contracts, providing accurate financial information
 role and benefits of insurance e.g. car, travel insurance
 sources of youth debt: credit cards, mobile telephone contracts, rent and student fee loans
 implications of personal credit ratings.
Recording, using and evaluating financial information
Recording, processing and communicating financial information (50–60%)
 Preparation of documents associated with personal financial information e.g. Cheques, application for bank account or credit card, mobile phone
 Preparation of personal budgets
106765094
25 February 2013
Page 5
ACCOUNTING AND FINANCE
YEAR 11 – UNIT 1AACF
 Preparation of personal bank reconciliation statements
 Maintenance of personal financial records for personal income tax and calculation of tax payable including only:
 Assessable income (limited to salaries and wages and interest)
 Allowable deductions (limited to union fees, professional associations, donations and uniform and motor vehicle expenses)
 Tax offset (limited to health insurance).
Evaluating financial information for planning, coordinating, controlling and investing (10–20%)
 Interpretation of information relevant to personal financial management e.g. Pay slips, bank statements, eftpos and other media
 Importance of personal financial planning, (including short- and long-term goal setting), and the financial factors affecting financial decision making e.g. The
importance of compounding interest versus simple interest
 Investment options available to individuals e.g. Superannuation, share market, property, cash deposits and long-term investments
 Sources of financial advice e.g. banks, media, and financial advisors.
Government and the community (10–15%)
The role and influence of governments and other bodies
 Types of taxation affecting individuals e.g. income tax, GST, capital gains and fringe benefits such as cars, mobile phones
 Identity and function of government agencies in relation to personal finance e.g. Department of Consumer and Employment Protection.
The influence of social, environmental and ethical factors
 Factors affecting personal financial decision making e.g. Influence of media, peer group pressure, beliefs and values.
106765094
25 February 2013
Page 6