Accounting and Finance Year 12 ATAR

A3ACF

The focus of this unit is on internal management for business including:

• Management of business finance – short and long term
• Classification of costs and the importance of a master budget
• Calculations related to cost accounting, cost-volume-profit processing
• The concept of insolvency, ethical issues in relation to financial dealings.

A4ACF

The focus of this unit is on Australian reporting entities and how they are regulated;

• characteristics of public and large proprietary companies
• the purpose of accounting standards and reporting
• processing cash flow statements, general journals, ledgers and financial statements and interpreting annual reports, ratios and cash flows
• the nature and importance of regulation and auditing, corporate disclosure.