ACCOUNTING UNIT 1
Suggested course outline and timeline
for Accounting Unit 1 for 2014
Mark Mansfield
St Albans Secondary College
The following suggested week-by-week VCE Accounting Unit 1 course
outline/timeline for 2014 provides recommended time allocations for the
areas of study in Unit 1 and suggestions for assessment based on the VCE
Accounting Study Design.
The Accounting Study Design (accreditation period 2013–2016) was revised
during 2012 and replaces the previous Accounting study design
(accreditation period 2012–2016). Further information can be found at:
http://www.vcaa.vic.edu.au/Pages/vce/studies/account/accountindex.aspx.
Note that at least two of the assessment tasks for Unit 1 should be ICT based
and approximately 15 hours of scheduled classroom time should be allocated
to these tasks. Also, ICT must be used during the inputting, processing and
outputting stages of the accounting process.
Week
Area of study/key knowledge
Assessment
Term 1
Area of Study 1: ‘Going into business’
Week 1
29–31 Jan.
Reasons for establishing a small business
Alternatives to establishing a small business
Week 2
Factors that lead to the success or failure of a small business
3–7 Feb.
Resources required to establish a small business
The role of professionals, such as accountants, business advisors and
professional organisations, in providing advice to achieve business success
Week 3
10–14 Feb.
Internal and external sources of finance, including features, advantages and
disadvantages
Week 4
Time to work on Assessment task 1
17–21 Feb.
Week 5
24–28 Feb.
© VCTA
Assessment task 1
(Outcome 1): Small
business assignment
(covers Weeks 1 to 3)
Area of Study 2: ‘Recording financial data and reporting accounting
information’
Applicable accounting principles and qualitative characteristics of accounting
information
The definition of the accounting elements: assets, liabilities, owner’s equity,
revenue and expenses
Published October 2013
page 1
ACCOUNTING UNIT 1
Week
Area of study/key knowledge
Week 6
3–7 Mar.
The accounting equation
Classification of current and non-current items in the Balance Sheet
The twofold effect of transactions on the Balance Sheet
Week 7
11–14 Mar.
Source and business documents for a service business, including cash
receipts, cheque butts, memos, bank statements
Special journals: cash receipts and cash payments
Week 8
Special journals: cash receipts and cash payments (continued)
Internal control procedures, including cash control procedures and the bank
reconciliation process
17–21 Mar.
Week 9
24–28 Mar.
Assessment
Assessment task 2
(Outcome 2): Test
(covers Weeks 5 and 6)
Internal control procedures, including cash control procedures and the bank
reconciliation process (continued)
Accounting reports (financial statements): Statement of Receipts and
Payments, Income Statement, Balance Sheet
Week 10
31 Mar. –
4 Apr.
Accounting reports (continued)
5–21 Apr.
Mid-semester break
Term 2
Time to work on Assessment task 3 (folio of exercises)
Week 11
22–24 Apr.
Week 12
28 Apr. –
2 May
Budgeting for cash and profit: role and benefits of cash and profit budgeting
in planning and control; budgeted reports for cash and profit; budget variance
reports for cash and profit
Assessment task 3
(Outcome 2): Folio of
exercises
Covers Weeks 7 to 10)
Week 13
Budgeting for cash and profit (continued)
5–9 May
Week 14
Graphical representations of accounting information
Assessment task 4
(Outcome 2): Test
(covers Weeks 12 and
13)
Time to work on Assessment task 5
Assessment task 5
(Outcome 2): Case
study (covers Week 14)
12–16 May
Week 15
19–23 May
Week 16
Exam revision
26–30 May
Week 17
Exam revision
2–6 June
Week 18
Year 11 exams
10–13 June
Week 19
Begin Unit 2
16–20 June
Week 20
Unit 2 continued
23–27 June
© VCTA
Published October 2013
page 2
ACCOUNTING UNIT 1
Note: Remember to consult your individual school planner for information about examination
timetables and possible non-assessment weeks.
ICT must be used during the inputting, processing and outputting stages of the accounting
process. As a guide, 15 hours of scheduled class time involving ICT should be allocated and at
least two of the selected assessment tasks for Unit 1 must be ICT based.
Disclaimer: This timeline has been updated by Mark Mansfield for teachers of VCE Accounting. This does not
imply that it has been endorsed by the Victorian Curriculum and Assessment Authority (VCAA). While every care
is taken, we accept no responsibility for the accuracy of information or advice contained in Compak. Teachers are
advised to preview and evaluate all Compak classroom resources before using them or distributing them to
students.
© VCTA
Published October 2013
page 3