Subject description

Accounting is a 20-credit subject at Stage 2.

Accounting is the language of business and is used to tell the financial story of an entity. Accounting helps business owners to understand their business so that they can make informed decisions. The practice of accounting is used to record, report, analyse, and communicate past events, current activities, and potential challenges and opportunities.

In Stage 2 Accounting, students develop and extend their understanding of the underpinning accounting concepts and conventions used to understand and classify financial transactions within a business. Through the learning in the focus area of managing financial sustainability, students develop and apply their knowledge of accounting processes to prepare and report accounting information to meet stakeholder needs. Students transfer this knowledge to scenarios and consider the influence of local and global perspectives on accounting practices.

Students analyse and evaluate accounting information to develop and propose authentic accounting advice to inform the decision-making of a variety of stakeholders. Students develop critical thinking and problem-solving skills to devise accounting solutions and apply communication skills in authentic accounting contexts.

Students examine current and emerging social trends, evolving technologies, government regulations, environmental issues, new markets, and other economic factors, as well as ethics and values, when exploring the practice of accounting. Students explore the impact accounting has had on society and possible future opportunities involving accounting.