Number
AS90226
Version
4
Page 1 of 3
Achievement Standard
Subject Reference
Accounting 2.7
Title
Use computer software to process financial transactions for a sole
proprietor
Level
2
Subfield
Accounting
Domain
Accounting - Generic
Status
Credits
3
Expiring
Assessment
Internal
Status date
17 November 2011
This achievement standard is expiring. Assessment against the standard must take
place before the expiry date set out below.
Expiry date
31 December 2012
Date version published
17 November 2011
This achievement standard involves using computer software to process financial
transactions for a sole proprietor registered for GST on the invoice basis.
Achievement Criteria
Achievement
Achievement with Merit
Achievement with
Excellence
 Use computer software to
process financial
transactions.
 Use computer software to
create new accounts and
process a range of
financial transactions.
 Use computer software to
create new accounts and
process a wide range of
financial transactions.
Explanatory Notes
1
This achievement standard is related to Accounting Curriculum for New Zealand
Schools, Ceta Resources and Curriculum Services, New Zealand Commerce and
Economics Teachers’ Association (NZCETA), 1998, (revision #2, Jan 2002); Level 2
Processing strand, pp. 26–27.
2
The context of this achievement standard is a sole proprietor trading firm using a
perpetual inventory system and registered for GST on the invoice basis.
3
Financial transactions to be processed are to include selections from:

Part A:

cash sales

cash from debtors or accounts receivable

cash expenses
 New Zealand Qualifications Authority 2016
Number
AS90226
Version
4
Page 2 of 3

cash paid to creditors or accounts payable

inventory sales on credit

inventory purchases on credit.

Part B:
 Purchase of property, plant and equipment purchase on credit
 sundry charges to debtors
 sundry charges to the firm by creditors
 drawing of goods
 inventory shortage/losses
 inventory returns for sales
 inventory returns for purchases
 correction of errors.
A range for achievement with merit should involve most of Part A and a majority of
Part B.
A wide range for achievement with excellence should involve nearly all of Parts A
and B.
4
Assessment will require three outputs selected from:

GST return

bank reconciliation

trial balance

income statement

balance sheet.
5
Achievement with merit and achievement with excellence require creating:

different inventory items

different accounts receivable

different accounts payable (one may be non-trade)

a range of new general ledger accounts (eg non-current asset, expense,
liability, other income).
6
Set-up, entering opening balances, and establishing the accounting period are not
assessed for this achievement standard, although they may be included as part of
the assessment assignment.
7
For achievement with merit and achievement with excellence, the use of appropriate
transaction references and dates is expected.
8
A computer software package with the facility to meet the requirements of
explanatory notes 3, 4 and 5 must be used to process the transactions.
Replacement Information
This achievement standard has been replaced by AS91175.
 New Zealand Qualifications Authority 2016
Number
AS90226
Version
4
Page 3 of 3
Quality Assurance
1
Providers and Industry Training Organisations must have been granted consent to
assess by NZQA before they can register credits from assessment against
achievement standards.
2
Organisations with consent to assess and Industry Training Organisations assessing
against achievement standards must engage with the moderation system that applies
to those achievement standards.
Consent and Moderation Requirements (CMR) reference
0226
 New Zealand Qualifications Authority 2016