Accounting involves reporting and analysing financial information to track and improve business performance. Accounting plays an integral role in the successful operation and management of every organisation, from a small business to a global corporation, across a variety of industries.
VCE Accounting prepares students for a university or vocational pathway in commerce, management and accounting. It can lead to careers in areas such as financial accounting, management accounting, management and personal financial planning.
In VCE Accounting students apply critical thinking skills to a range of business situations, using both manual bookkeeping and information and communications technology (ICT) to provide accounting advice to business owners.
The study is made up of four units:
Unit 1: Role of accounting in business
This unit explores the establishment of a business and the role of accounting in the determination of business success or failure. In this, it considers the importance of accounting information to stakeholders. Students analyse, interpret and evaluate the performance of the business using financial and non-financial information. They use these evaluations to make recommendations regarding the suitability of a business as an investment.
Unit 2: Accounting and decision-making for a trading business
In this unit students develop their knowledge of the accounting process for sole proprietors operating a trading business, with a focus on inventory, accounts receivable, accounts payable and non-current assets. Students use manual processes and ICT, including spreadsheets, to prepare historical and budgeted accounting reports.
Unit 3: Financial accounting for a trading business
This unit focuses on financial accounting for a small business. Students develop their understanding of the accounting processes for recording and reporting and consider the effect of decisions made on the performance of the business. They interpret reports and information presented in a variety of formats and suggest strategies to the owner to improve the performance of the business.
Unit 4: Recording, reporting, budgeting and decision-making
In this unit students further develop their understanding of accounting for a small business. Students investigate both the role and importance of budgeting in decision-making for a business. They analyse and interpret accounting reports and graphical representations to evaluate the performance of a business. From this evaluation, students suggest strategies to business owners to improve business performance.
Accountant, Auditor, Bank Officer, Company Secretary, Corporate Treasurer, Diplomat, Economics, Financial Advisor, Financial Journalist, Financial Planner/Manager, Human Resource Management, Management Consultant, Market Researcher, Portfolio Manager, Project Manager, Statistician, Stockbroker, Tax Agent, Trade Analyst, University Lecturer.
NOTE: Unit 1 and 2 VCE Acounting runs in the Wednesday block and VCE Accounting Unit 3 and 4 runs in the normal blocks.