Prepare financial information

Practice

Recall it first, then use it — testing yourself builds the memory, where rereading the notes above only feels easier.

Recall and application shuffled together — you have to work out what each item wants before you can answer it, which is the part the exam actually tests. Both kinds feed the same spacing schedule, so anything you miss comes back sooner.

Say the answer out loud before flipping — that attempt is where the learning happens, even when you get it wrong.

Exam-style only. Instant feedback, shuffled each attempt, best score saved on this device.

What actually comes up

The same shape every year: Question One and Two each run (a) two journal entries → (b) one ledger account → (c)/(d)/(e) statement or note completion, built from a resource booklet of real account balances (not reproduced here — the schedule's own worked figures are transcribed instead). Question Three always ends in cash: a receivables-or-payables reconstruction, then a section of the Statement of Cash Flows. The schedule marks every line with a complexity code rather than a per-part A/M/E label, so the grade shown here follows that code: S (given figure) ≈ Achieved, C (one calculation) ≈ Merit, T (two-step calculation) ≈ Excellence.

Across 3 years

The pattern — what to prepare

The 2025 paper ↗ Marking schedule ↗

Question One

Mere's Design & Marketing, year ended 31 March 2025.

• Total administrative expenses: $26 084
• Insurance (design & marketing) opening balance: $5 730 Dr

• a(i) Record office salary owing: $570. Achieved
• a(ii) Record bad debts to be written off: $529 including GST. Merit
• b Complete the insurance (design and marketing) general ledger account, including a closing entry if relevant. Excellence
• c Complete the fully classified Income Statement for the year ended 31 March 2025 — revenue, other income, and expenses grouped by design/marketing costs and finance costs. Excellence

Question Two

Mere's Design & Marketing, as at 31 March 2025.

• Design fees received (invoices not yet recorded): $2 484 including GST
• PPE opening carrying amount:
  5 160 (design equipment)

• a(i) Record invoices issued for design fees received not yet recorded: $2 484 including GST. Merit
• a(ii) Record the closing entry for depreciation on computers. Excellence
• b Complete the accrued expenses general ledger account, including a closing entry if relevant. Excellence
• c Complete the accounts receivable note and the property, plant and equipment note. Excellence
• d Complete the Assets section of the Statement of Financial Position. Excellence

Question Three

Mere's Design & Marketing, month ended 30 September 2025.

• Cash payments given: electricity $400, accounting $500, general marketing $3 760, general office $230

• a(i) Record the invoice received for printing expenses (marketing): $391 including GST. Merit
• a(ii) Record the closing entry for drawings. Achieved
• b Complete the income in advance general ledger account, including a closing entry if relevant. Excellence
• c Calculate the cash received from accounts receivable for the month ended 30 September 2025, with labelled working. Excellence
• d Complete the Statement of Cash Flows for the month ended 30 September 2025. Excellence

The 2024 paper ↗ Marking schedule ↗

Question One

Gigi's Games Galore, year ended 31 March 2024.

• Total administrative expenses: $40 647
• Cost price of goods for the credit sale (given): $640 excluding GST

• a(i) Record the office wages owing:
  500. Achieved
• a(ii) Record the invoices issued for sales not yet recorded:
  610 including GST (cost of goods sold entry already done for you). Merit
• b Complete the prepayments general ledger account, including a closing entry if relevant. Excellence
• c Complete the Income Statement for the year ended 31 March 2024 — sales, cost of goods sold, other income, and expenses grouped by distribution costs and finance costs. Excellence

Question Two

Gigi's Games Galore, as at 31 March 2024.

• Inventory opening balance:
  8 320 Dr
• Office equipment opening carrying amount: $5 020

• a(i) Record the invoice received for repairs and maintenance: $414 including GST. Merit
• a(ii) Record the closing entry for doubtful debts. Excellence
• b Complete the inventory general ledger account, including a closing entry if relevant. Excellence
• c Complete Note 2: Property, plant, and equipment (extract), including a disposal. Excellence
• d Complete the Liabilities section of the Statement of Financial Position. Excellence
• e Complete the Equity section of the Statement of Financial Position. Achieved

Question Three

Funtime First Learners, year ended 31 March 2024.

• Dividends owed from EduRight Ltd: $800
• Accounts receivable opening balance:
  3 390 Dr

• a Record the dividends received that are owed from EduRight Ltd: $800. Achieved
• b Complete the accounts receivable general ledger account (particulars provided). Excellence
• c Calculate the cash received for the sale of old playground equipment reported in the Statement of Cash Flows, with labelled working. Merit
• d Calculate the cash paid to accounts payable for the year, with labelled working. Excellence
• e Prepare the cash payments section of the Statement of Cash Flows for the year ended 31 March 2024. Excellence

The 2023 paper ↗ Marking schedule ↗

Question One

Repair IT, year ended 31 March 2023.

• Total repair costs:
  29 075

• a(i) Record the invoice on hand for advertising: $621 including GST. Merit
• a(ii) Record the closing entry for repair electricity. Achieved
• b Complete the repair fees received general ledger account, including a closing entry if relevant. Merit
• c Complete the Income Statement for the year ended 31 March 2023 — repair fees received, repair costs, administrative expenses, and finance costs. Excellence

Question Two

Repair IT, as at 31 March 2023.

• Office equipment opening carrying amount: $0 (new this year)
• Repair equipment opening carrying amount:
  9 160

• a Complete the accrued expenses general ledger account. Excellence
• b Complete the accounts receivable note and the property, plant and equipment note (two asset classes). Excellence
• c Complete the full Statement of Financial Position as at 31 March 2023, using the notes from part (b). Excellence

Question Three

Repair IT, month of June 2023.

• Repair wages opening balance: $65 000 Dr

• a(i) Record the insurance paid in advance:
  240 excluding GST. Achieved
• a(ii) Record the closing entry for drawings. Achieved
• b Complete the repair wages general ledger account, including a closing entry if relevant. Merit
• c Calculate the cash received from accounts receivable for the month of June 2023, with labelled working. Merit
• d Calculate the cash paid to accounts payable for the month of June 2023, with labelled working. Merit
• e Using your answer to (c), complete the cash receipts section of the Statement of Cash Flows for the month of June 2023. Excellence

Every year is built on a different entity with different account balances, drawn from a resource booklet not reproduced here — the schedule's own worked figures are transcribed instead, so the numbers above are real but the resource booklet itself is not searchable. The complexity-code grading (S/C/T/V/P) is mapped to A/M/E by dominant complexity, not quoted directly from an A/M/E label, since this standard is graded holistically on a point total rather than per part.

Past exams & resources

⏱ Timed opens the paper and starts a countdown matching the exam length. Official NZQA PDFs. If a link 404s, that year’s paper may sit under a slightly different code: browse the NZQA subject page.