The mid-year accounting examination contribute 33 per cent to the subject’s study score.
Duration: One and half hours.
All outcomes in Unit 3 will be examined. All of the key knowledge and skills that underpin the outcomes is examinable. The examination will assess a representative sample of the key knowledge and skills in Unit 3.
The examination will consist of two scenarios from which a series of questions will be derived. These questions will require students to apply the knowledge and skills of the accounting processes undertaken in Unit 3. Students will not be required to use information and communications technology (ICT) in the examination.
All questions are compulsory.
Students will complete the examination using a question book and an answer book.
Students sitting for examinations are permitted to bring normal stationery into the examination. This includes pens, pencils, highlighters, erasers, sharpeners and rulers.
Correction (white out) liquid/tape and blank sheets of paper are not allowed in any examination.
For Accounting, students are expected to bring specific materials into the examination as follows:
- pencil (should be used where calculations are performed)
- a scientific calculator.
The examination will address all of the criteria. All students will be examined against the following criteria.
- Understanding and appropriate use of accounting terminology.
- Understanding of the concepts and principles underlying the recording and reporting of financial data and information.
- Understanding of classification within the recording and reporting process.
- Knowledge of recording and reporting of financial data and information.
- Application of recording and reporting techniques to given scenarios.
- Analysis of the impact of the recording process on the business.
The examination will be set by a panel appointed by the VCAA.
The examination will be marked by a panel of assessors appointed by the VCAA.