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Welcome to 2004 VCE Accounting

Course Outline and General Information

I'm Susheel and I'd lead you in discovering new knowledge and learn new skills in Year 12 Accounting. This web site forms part of the normal teaching and learning repertoire. I'm sure you will find your studies a pleasure. Best wishes.

Check this space regularly. Materials will be added as teaching and learning unfolds.

Week 3: Activity Doc Excel file

You do not need to discover the materials below as yet. Current materials will be added above the horizontal line.

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EXAM

Revision Topics
Limitations of Ratios: P 455 of Text

What Journals to Use? Find out More

Stock Turnover
Notes

Answers Available Ex 21 1 - 6

Presentation

Analysis and Intepretation of Financial Reports
Working File1
File2

SAC 1: You shall be assessed on:

• using general journal entries for recording of:
• sales returns and returns to suppliers
• writing off bad debts
• stock write down
• contra entries
• balance day adjustments for prepaid revenue (liability approach) and accrued revenue;
• treatment of accruals in a subsequent period;
• posting to general and subsidiary ledgers with debtors’ and creditors’ schedules to reconcile with the control account;
• managing and controlling debtors, creditors and stock (stock loss/gain);
• the impact of GST on recording – special journals (CRJ, CPJ, sales, purchases) and the
• preparation of the GST Clearing Account. The impact of GST on reporting for Statement of Cash Flows and Statement of Financial Position. The amount of GST will be stipulated for each transaction;
• valuing stock: lower of cost and net realisable value recording and reporting to show effect on financial performance and financial position (stock write down), product and period costs (materiality);

Exercises: 21: 1 2 3 4 5 6 11 12 13 14 15 16 17 21