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TKI Accounting Assessment Resources

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For Excellence, the student needs to prepare comprehensive financial information for a community organisation’s annual general meeting.

This means:

• preparing comprehensive classified financial statements for the organisation’s members. These include balance day adjustments where the figure has been provided, balance day or other adjustments where the figure requires a calculation, and distinguishing between cash and non- cash transactions in the Cash Flow Statement.
• preparing a comprehensive Treasurer’s Report explaining what the financial statements show in detail, using detailed and linked financial and non-financial information.

The student has prepared comprehensive and accurate financial statements.

The Treasurer’s Report starts with an introduction which summarises progress and inspires the confidence of members (1).

The additional information provided has been elaborated with explanations (2).

The student has explained to members the benefits of a grant over a loan (3).

The student has described a reason for the deficit on the trading activity and the impact on the overall surplus (4).

For a more secure Excellence the student could:

• recognise that the amount paid for refreshment bar wages represents only a part year rather than a full year, which would have an impact on wage costs the following year
• refer to how additional wage costs could be offset by additional income from ticket sales and membership fees, and by the decrease in mortgage interest.

For Merit, the student needs to prepare in-depth financial information for a community organisation’s annual general meeting.

This means:

• preparing in-depth classified financial statements for the organisation’s members. These include balance day adjustments where the figure has been provided, and distinguishing between cash and non-cash transactions in the Cash Flow Statement.
• preparing an in-depth Treasurer’s Report describing what the financial statements show in detail, using financial and non-financial information.

The student has prepared comprehensive and accurate financial statements.

The Treasurer’s Report is in-depth, and contains four explanations which incorporate financial and non-financial information (1). The increase in the uniform shop surplus has been stated (2).

To reach Excellence, the student could make the Treasurer’s Report more comprehensive by:

• being more accurate in transferring key figures, such as the surplus and the opening bank balance, from the financial statements to the Treasurer’s Report
• incorporating the figures from the financial statements into explanations.

For Merit, the student needs to prepare in-depth financial information for a community organisation’s annual general meeting.

This means:

• preparing in-depth classified financial statements for the organisation’s members. These include balance day adjustments where the figure has been provided, and distinguishing between cash and non-cash transactions in the Cash Flow Statement.
• preparing an in-depth Treasurer’s Report describing what the financial statements show in detail, using financial and non-financial information.

The student has prepared in-depth classified financial statements.

The Treasurer’s Report contains reasons for the surplus (1) and the change in the bank balance (2).

The interest rate is stated as competitive, and the interest amount is provided (3).

The student has elaborated on the resource material by stating that refurbishment may lead to the club earning extra income (4).

For a more secure Merit, the student could:

• provide further detail using financial and non-financial information; for example, the new members could be related to the actual increase in subscription income, or the donation of uniforms could be discussed in the context of cost of sales in the trading statement
• expand statements of fact into descriptions, to give members greater insight into the purpose or impact of these events
• exclude subscriptions paid in advance from the subscriptions figure.

For Achieved, the student needs to prepare financial information for a community organisation’s annual general meeting.

This means:

• preparing classified financial statements for the organisation’s members
• preparing a Treasurer’s Report describing what the financial statements show, using financial and non-financial information.

The student has prepared classified financial statements for the organisation’s members.

The Treasurer’s Report commences with an introduction, and describes the trading deficit and the overall surplus by stating each amount (1). Non-financial information about the increase in members has been linked to the financial impact (2).

Additional information about the Lotto grant has been supported by referring to the non-financial impact of buying more seats and installing new software (3).

The student has recognised that the refreshment bar wage cost is likely to have an ongoing impact on the trading result (4).

To reach Merit the student could:

• provide further financial detail; for example, the increase in the bank balance could be related to the receipt of the Lotto grant
• support the claim that the surplus is likely to improve next year by referring to how the extra seats and the ticketing software have the potential to increase ticket sale income
• avoid referring to the accumulated funds being available to repay part of the mortgage.

For Achieved, the student needs to prepare financial information for a community organisation’s annual general meeting.

This means:

• preparing classified financial statements for the organisation’s members
• preparing a Treasurer’s Report describing what the financial statements show, using financial and non-financial information.

The student has prepared classified financial statements.

In the Treasurer’s Report, the increase in the surplus has been described with financial and non-financial information (1).

The student has provided accurate statements about the liabilities, and has made the point that interest is paid on the loan and mortgage and received on the term deposit (2).

For a more secure Achieved, the student could demonstrate greater understanding of the impact of the events described in the additional information. For example, ‘buildings are currently being refurbished …’ could be replaced with ‘funds are being set aside for the future refurbishment of buildings’.

For Achieved, the student needs to prepare financial information for a community organisation’s annual general meeting.

This means:

• preparing classified financial statements for the organisation’s members.
• preparing a Treasurer’s Report describing what the financial statements show, using financial and non-financial information.

The student has prepared financial statements.

In the Treasurer’s Report, the student has used the surplus calculated in the income statement, and identified two key contributors to that surplus (1).

To reach Achieved, the student could:

• produce a balance sheet that is fit for purpose
• include more descriptions in the Treasurer’s Report that incorporate financial and non-financial information and that go beyond the resource material.