ACCOUNTING responsible citizenship. The knowledge and skills Rationale developed in accounting also Financial matters affect every member of our enables them to analyse their society. Through engagement with Accounting, own financial position and Level 3, learners develop an understanding of make informed decisions the fundamentals on which accounting and based on that analysis. Many financial management are based. In our current learners who study economic environment, where small businesses Accounting, Level 3, will go are the largest employers, many learners will on to further study and find themselves self-employed or working in careers in business and small business and there is a high probability finance. that they will have to engage in some form of accounting practice. Small businesses account Aims for almost 96 percent of the count of all actively trading businesses and 46 percent of Accounting, Level 3, aims to total private sector industry employment develop learners’: (Department of Industry, Innovation, Science, • financial knowledge: Research and Tertiary Education (2012) learners describe the terms, Australian Small Business Key Statistics and concepts and principles Analysis.) that are fundamental to accounting and other Accounting, Level 3, aims to make learners financial procedures financially literate by creating an • financial reasoning: understanding of the systems and processes learners apply appropriate through which financial practices and accounting and financial decision-making are carried out, as well as the concepts and processes to ethical, social and regulatory issues involved. record and report financial An understanding of accounting assists with the information to meet discharge of accountability and in the business needs management of financial resources. Accounting • financial decision-making: also helps learners analyse and make informed learners select, use and decisions about business finance. They develop interpret accounting and skills in critical thinking, decision-making financial information to and the use of information and communication make decisions for business technologies and an appreciation of active and purposes
ACCOUNTING Rationale Financial matters affect every member of our society. Through engagement with Accounting, Level 3, learners develop an understanding of the fundamentals on which accounting and financial management are based. In our current economic environment, where small businesses are the largest employers, many learners will find themselves self-employed or working in small business and there is a high probability that they will have to engage in some form of accounting practice. Small businesses account for almost 96 percent of the count of all actively trading businesses and 46 percent of total private sector industry employment (Department of Industry, Innovation, Science, Research and Tertiary Education (2012) Australian Small Business Key Statistics and Analysis.) Accounting, Level 3, aims to make learners financially literate by creating an understanding of the systems and processes through which financial practices and decision-making are carried out, as well as the ethical, social and regulatory issues involved. An understanding of accounting assists with the discharge of accountability and in the management of financial resources. Accounting also helps learners analyse and make informed decisions about business finance. They develop skills in critical thinking, decision-making and the use of information and communication technologies and an appreciation of active and responsible citizenship. The knowledge and skills developed in accounting also enables them to analyse their own financial position and make informed decisions based on that analysis. Many learners who study Accounting, Level 3, will go on to further study and careers in business and finance. Aims Accounting, Level 3, aims to develop learners’: • financial knowledge: learners describe the terms, concepts and principles that are fundamental to accounting and other financial procedures • financial reasoning: learners apply appropriate accounting and financial concepts and processes to record and report financial information to meet business needs • financial decision-making: learners select, use and interpret accounting and financial information to make decisions for business purposes
ACC315116_course_v1b.docx