NZQA Expiring unit standard
25939 version 3
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Title
Demonstrate and apply knowledge of an accounting system
Level
4
Credits
10
Purpose
People credited with this unit standard are able to: explain the
principles of an accounting system; analyse, classify, and
record general ledger transactions in an accounting system;
and reconcile general ledger transactions to other ledgers and
report general ledger transactions.
Classification
Accounting > Accounting - Middle Level
Available grade
Achieved
Entry information
Recommended skills
and knowledge
Unit 11609, Perform the accounting functions for cash
transactions; Unit 11610, Perform the accounting functions for
accounts receivable; and Unit 11611, Perform the accounting
functions for accounts payable; or demonstrate equivalent
knowledge and skills.
Explanatory notes
1
People must be assessed against this unit standard in their workplace using naturally
occurring evidence, or in a realistic simulation of such a context. Competence must
be demonstrated within timeframes expected in a commercial environment.
2
The expanded accounting equation used for this unit standard must accord with
generally accepted accounting practice.
3
In this unit standard, accounting system includes general and subsidiary ledgers,
including but not limited to – cash, accounts receivable, accounts payable.
Outcomes and evidence requirements
Outcome 1
Explain the principles of an accounting system.
Evidence requirements
1.1
The explanation describes an accounting system in terms of source documents,
journals, ledgers, financial statements, and chart of accounts.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
1.2
25939 version 3
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The explanation describes the accounting subsystems.
Range
cash, inventory, accounts receivable, accounts payable.
1.3
The explanation describes the need for internal control in accounting systems.
1.4
The explanation describes internal control and procedures for accounting
subsystems.
Range
cash, inventory, accounts receivable, accounts payable.
Outcome 2
Analyse, classify, and record general ledger transactions in an accounting system.
Range
adjustment journal entries, standing journal entries, subsidiary ledger control
account entries.
Evidence requirements
2.1
General ledger transactions are differentiated from subsidiary ledger
transactions.
2.2
General ledger transactions are analysed and classified in accordance with a
chart of accounts.
2.3
Analysis and classification are justified in terms of the expanded accounting
equation.
2.4
Recorded general ledger transaction details match source information.
Outcome 3
Reconcile general ledger transactions to other ledgers and report general ledger
transactions.
Evidence requirements
3.1
General ledger control totals are compared with the control totals of subsidiary
ledgers.
3.2
Any discrepancies highlighted by the reconciliation process are resolved.
Range
3.3
two different discrepancies requiring adjustment.
General ledger reports are produced.
Range
trial balance, statement of financial performance, statement of
financial position.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016
NZQA Expiring unit standard
Replacement information
25939 version 3
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This unit standard and unit standard 11622 have been
replaced by unit standard 29014.
This unit standard is expiring. Assessment against the standard must take place by
the last date for assessment set out below.
Status information and last date for assessment for superseded versions
Process
Version Date
Last Date for Assessment
Registration
1
21 August 2009
31 December 2018
Rollover
2
24 October 2014
31 December 2018
Review
3
19 May 2016
31 December 2018
Consent and Moderation Requirements (CMR) reference
0113
This CMR can be accessed at http://www.nzqa.govt.nz/framework/search/index.do.
Please note
Providers must be granted consent to assess against standards (accredited) by NZQA,
before they can report credits from assessment against unit standards or deliver courses
of study leading to that assessment.
Industry Training Organisations must be granted consent to assess against standards by
NZQA before they can register credits from assessment against unit standards.
Providers and Industry Training Organisations, which have been granted consent and
which are assessing against unit standards must engage with the moderation system that
applies to those standards.
Requirements for consent to assess and an outline of the moderation system that applies
to this standard are outlined in the Consent and Moderation Requirements (CMR). The
CMR also includes useful information about special requirements for organisations wishing
to develop education and training programmes, such as minimum qualifications for tutors
and assessors, and special resource requirements.
NZQA National Qualifications Services
SSB Code 130301
 New Zealand Qualifications Authority 2016