Accounting
Reporting-entity concepts, company financial statements and management accounting.
Achievement standards
Reference sheet Print flashcardsExternal · 13 credits
AS 91404 Demonstrate understanding of accounting concepts for a New Zealand reporting entity Element definitions, recognition criteria, qualitative characteristics and NZGAAP, applied to a real annual report. External 4 credits AS 91406 Demonstrate understanding of company financial statement preparation Journal and closing entries, the equity section, dividends, notes and the Statement of Cash Flows. External 5 credits AS 91408 Demonstrate understanding of management accounting to inform decision-making Contribution margin, break-even, margin of safety, cash budgets and the justified recommendation. External 4 creditsInternal · 13 credits
AS 91405 Demonstrate understanding of accounting for partnerships Capital and current accounts, appropriation of profit, interest on capital and drawings. Internal 4 credits AS 91407 Prepare a report for an external user that interprets the annual report of a New Zealand reporting entity Profitability, liquidity and stability measures interpreted for a named external user. Internal 5 credits AS 91409 Demonstrate understanding of a job cost subsystem for an entity Direct vs indirect costs, overhead recovery rates, job cost sheets and quoting. Internal 4 creditsWhere this leads in business & finance
Accounting is the language every other commercial discipline is written in. Analysts, auditors, treasurers and founders all read the same three statements, and the person who can tell a real profit from an accounting one has an advantage that never expires. Chartered Accountant is still one of the most portable qualifications in the world, and the 91408 decision-making content — break-even, contribution margin, cash budgets — is the arithmetic behind every business case you will ever be asked to sign off.
Watch: Accounting in the real world Opens a YouTube search: a good one to watch when motivation dips