Subject description

Accounting is a 10-credit subject or a 20-credit subject at Stage 1.

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 1 Accounting, students develop their understanding of accounting, including selected concepts and conventions that underpin and inform the practice of accounting. They apply this understanding to create and interpret accounting information. Students explore and analyse the ways in which qualitative and quantitative information can be used in the decision-making process and they explore the different reporting needs of a range of stakeholders.

Students explore the changing forms of accounting information and examine the use of digital and emerging technologies. They develop critical thinking and problem-solving skills to devise accounting solutions in a range of familiar and unfamiliar contexts. Students apply communication skills to collect and analyse financial and non-financial information for a range of stakeholders.

Through the learning in the focus area of perspectives in accounting, students develop an understanding of how accounting applies to and impacts their personal circumstances. They explore the links between self and others in local and global accounting contexts, and compare approaches to accounting in different cultural contexts. Students explore the impact accounting has had on society and the opportunities that exist involving accounting in the future.