UNIT COURSE OUTLINE
ACCOUNTING UNIT 3 Term I & II
Week
Area of study/key knowledge
Term 1
Area of Study 1: ‘Recording financial data’
Week 1
30 Jan. – 1 Feb.
Relevant accounting principles, qualitative characteristics,
accounting elements, twofold effect on the accounting equation
and the Balance Sheet
Week 2
Double-entry accounting, General Ledger, source documents,
GST (including calculating GST and the GST Clearing account)
4–8 Feb.
School-assessed coursework
Week 3
11–15 Feb.
Week 4
18–22 Feb.
Accounting for Stock—stock cards, FIFO, advertising use,
drawings of stock
Outcome 1 assessment task A:
Folio of exercises
Week 5
25 Feb. – 1 Mar.
Week 6
4–8 Mar.
Special journals—sales, purchases, cash receipts, cash
payments, control accounts, Subsidiary Ledgers, debtors and
creditors schedules
Week 7
11–15 Mar.
Week 8
18–22 Mar.
The General Journal—format, establishing a double-entry
system, correction of errors, contribution of non-current assets
by the owner, including the distinction between historical cost
and agreed value, withdrawals of stock by the owner, bad
debts. Distinguishing between historical cost and agreed value
in relation on-current assets
Outcome 1 assessment task B:
Folio of exercises
Week 9
25–28 Mar.
29 Mar. – 14 Apr.
Mid-semester break
Term 2
The process of posting to the General Ledger from the General
Journal and special journals on a monthly basis and balancing
the general ledger and subsidiary ledger accounts for the next
reporting period
Week 10
15–19 Apr.
Week 11
22–26 Apr.
Control accounts—debtors, creditors and stock. Subsidiary
ledgers and schedules for debtors and creditors, subsidiary
records for stock internal control procedures and Preadjustment Trial Balance
Outcome 1 assessment task C:
Folio of exercises
Week 12
29 Apr. – 3 May
Week 13
6–10 May
Area of Study 2: ‘Balance day adjustments and reporting
and interpreting accounting information’
Balance day adjustments—straight-line method of
depreciation, stock loss or gain, prepaid expenses, accrued
expenses
Payment of accrued expenses in a subsequent period
UNIT COURSE OUTLINE
ACCOUNTING UNIT 3 Term I & II
Week
Area of study/key knowledge
Week 14
Closing entries for revenue and expenses, Profit and Loss
Summary account, transfer of drawings to the capital account,
post-adjustment trial balance
13–17 May
School-assessed coursework
Week 15
20–24 May
Week 16
27–31 May
Classified accounting reports—Cash Flow Statement, Income
Statement and Balance Sheet, effect of transactions on the
accounting equation and the accounting reports, distinction
between cash and profit
Outcome 2: Test
Week 17
3–7 June
Week 18
10–14 June
GAT week: Wednesday 12 June
Revision of semester’s work
17–21 June
Begin Unit 4: Control and Analysis of Business
Performance
Sales returns and purchase returns, prepaid revenue, accrued
revenue
Week 20
Stock valuation
Week 19
24–28 June