Rationale

 'It’s all about the money!'

What is accounting?

• Accounting gives students the tools to make real life financial decisions in a constantly changing and uncertain world.
• Accounting is the process of preparing and communicating financial information to a wide range of users.
• Accounting enhances financial literacy.
• Accounting helps individuals and organizations to be accountable to stakeholders for their actions.

Why study accounting?

'The price of anything is the amount of life you exchange for it.'
Henry David Thoreau

Accounting enables students to develop the knowledge and skills to manage the financial affairs of individuals, communities, and businesses.

Students will develop the knowledge and skills necessary to:

Prepare and maintain financial records

These could include the management of credit, understanding the concept of compound interest, establishing and monitoring Kiwisaver, maintaining a household or small business budget, and a basic understanding of the New Zealand tax system.

Manage financial affairs

An example would be communicating with a bank manger when applying for an overdraft facility. Effective financial management requires systematic planning to ensure deadlines are adhered to. Examples include claiming a tax rebate, meeting tax deadlines, payment of routine expenses, and loan repayments.

Act with integrity

Integrity involves being honest, responsible, and accountable. It requires individuals to act ethically at all times. Students will learn to justify and take responsibility for actions and decisions, obey the law, and keep accurate and confidential records. Examples include accurately claiming for contract hours worked and using business credit cards responsibly.

Contribute to the wider community

This involves sharing their accounting knowledge and using their skills to contribute to their families, whānau, and communities. For example, becoming the treasurer of a local club or managing the family budget.

Last updated August 12, 2013

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