Providing accounting advice

In the focus area of providing accounting advice, students evaluate accounting information to develop and propose authentic accounting advice for a variety of stakeholders. They analyse financial and non-financial information, taking into consideration local and global perspectives to inform accounting advice. They evaluate this information when providing advice to stakeholders. Students have the opportunity to work collaboratively in the evaluation of accounting information, and in their development of authentic accounting advice. The flexible nature of this collaboration may lead students to collaborate with each other and/or with key external stakeholders.

Financial literacy

Students analyse and interpret financial and non-financial information, for example, but not limited to:

• classified final reports
• budgeted reports
• ratios
• other accounting information tailored to stakeholder needs.

Students comment on the inherent limitations of this information. They provide authentic accounting advice with options and recommendations to meet stakeholder needs.

Stakeholder information and decision-making

Students apply their understanding that decision-making is a process which can be impacted by existing and emerging social, legal, economic, technological, environmental, and/or ethical considerations.

Students provide advice to stakeholders on the suitability of different business ownership structures, referring to both financial and non-financial information.

Students provide advice to stakeholders on the suitability of potential sources of finance for short-term and long-term business success.

Students analyse financial and non-financial information to develop a forecast of possible business outcomes. They provide accounting advice to stakeholders with options and recommendations.

Innovation

In developing authentic accounting advice to meet stakeholder needs, students consider local and global influences as they explore and analyse the impact of:

• current and emerging social trends
• government regulations
• new markets and other economic factors
• evolving technologies
• environmental issues
• ethics and values.