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TKI Accounting Assessment Resources

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For Excellence, the student needs to make a justified decision for an individual or group.

This typically involves:

• comparing at least two options using relevant financial and relevant non-financial information
• making a financial decision
• justifying reasons, using detailed and linked relevant financial and non-financial information, for selecting the best option.

The student has compared Spark and Vodafone as possible internet providers for himself. A financial decision has been made (1). The decision has been justified using financial (2) and non-financial (3) reasons.

The decision has been justified by the student’s calculation of saving $54 a year by choosing Spark rather than Vodafone. The future possibility of upgrading the plan to access Lightbox has been discussed and linked back to the budget (4).

For a more secure Excellence, the student could explain the implications of sharing the Spark $19 package with his brother, and discuss the disadvantage of Spark not offering a carryover option on data or minutes.

For Merit, the student needs to make a reasoned decision for an individual or group.

This typically involves:

• comparing at least two options using relevant financial and relevant non-financial information
• making a financial decision
• explaining reasons, using detailed relevant financial and non-financial information, for selecting the best option.

The student has compared savings accounts with term deposits for two banks. A financial decision has been made: an ANZ term deposit (1). Financial comparisons have been made between interest rates and earnings (2) and several non-financial comparisons have been provided (3). The student has therefore explained reasons for selecting a term deposit at ANZ.

To reach Excellence, the student would need to provide evidence of detailed relevant financial reasons with justified reasons, for example, by providing interest rates for savings and deposit accounts, or compounded interest. Similarly, non-financial reasons could be justified, for example, by explaining the convenience of nearby ATMs.

For Merit, the student needs to make a reasoned decision for an individual or group.

This typically involves:

• comparing at least two options using relevant financial and relevant non-financial information
• making a financial decision
• explaining reasons, using detailed relevant financial and non-financial information, for selecting the best option.

The student has compared savings accounts with term deposits for two banks. A financial decision has been made (1). Comparisons have been made between fees and interest has been calculated (2). Two non-financial comparisons have been provided (3). The student has therefore explained their decision to invest in a BNZ term deposit.

For a more secure Merit, the student could provide additional non-financial reasons why BNZ was chosen, and clearly link the non-financial information to the decision.

For Achieved, the student needs to make a financial decision for an individual or group.

This typically involves:

• comparing at least two options using relevant financial and non-financial information
• making a financial decision
• stating reasons, using relevant financial and non-financial information, for selecting the best option.

The student has compared holidays in Bali and Vanuatu and has made a decision to holiday in Bali (1). The conclusion has stated reasons using financial (2) and non-financial (3) information that show why Bali was chosen over Vanuatu.

“We can do snorkelling at home” is the minimum for an explained reason using non-financial information for choosing an elephant ride in Bali.

To reach Merit, reasons should be explained using detailed financial and non-financial information, with specific comparisons made between the options. “Bali is cheaper than Vanuatu” is a valid stated reason, however additional detail would be required to reach Merit.

For Achieved, the student needs to make a financial decision for an individual or group.

This typically involves:

• comparing at least two options using relevant financial and relevant non-financial information
• making a financial decision
• stating reasons, using relevant financial and non-financial information, for selecting the best option.

The student has compared two options and has made a decision (1) using relevant financial (2) and non-financial (3) information. Reasons for selecting Sydney have been stated.

“The airline fares to Sydney from Christchurch were cheaper than Christchurch to Perth” is the minimum requirement for a stated financial reason. The comparison of flight times with reference to comfort, and comparing flight durations, is a valid non-financial reason for choosing Sydney.

For a more secure Achieved, the student could be consistent in providing information about each option. For example, petrol for the hire car should be costed for both Sydney and Perth. To strengthen the comparison between the options the budget should show two fun activities with a cost at each destination.

The statements about lunches, accommodation and the costs of activities provide financial comparisons but are not evidence of reasons using financial information. They are statements of fact.

While sources of information are not specifically assessed, students should provide more specific references such as URLs or screen shots so that the assessor may authenticate costs and other information.

For Achieved, the student needs to make a financial decision for an individual or group.

This typically involves:

• comparing at least two options using relevant financial and relevant non-financial information
• making a financial decision
• stating reasons, using relevant financial and non-financial information, for selecting the best option.

The student has provided information about two holiday options and made a decision to take a holiday in Rarotonga (1). The opportunity to travel out of New Zealand and reference to warmer weather have been stated as non-financial reasons for choosing Rarotonga (2), placing the evidence on the boundary for Achieved.

To reach Achieved, the student could provide a financial reason in the conclusion for choosing Rarotonga. The only financial statement made is that $10,000 is plenty to have a holiday outside New Zealand. This is not a reason for choosing Rarotonga rather than Queenstown.

Statements such as “…learning and trying new experiences”, should be specifically linked to the activities planned for the chosen destination. In their conclusion, the student should focus on the unique benefits of the chosen destination over the alternative option.