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Assessment Specifications
Level 3 Accounting 2022
General information
Domain |
Accounting – Generic |
Method of assessment |
Written examination |
Standards |
Equipment
Calculators will be required.
Specific information for individual achievement standards
Standard |
91404 |
Title |
Demonstrate understanding of accounting concepts for a New Zealand reporting entity |
Version |
2 |
Number of credits |
4 |
Questions will require short and/or extended answers. The questions will relate to a variety of resource information.
Candidates should refer to the Level 3 Appendix for the appropriate terminology and the New Zealand Equivalent to the IASB Framework for the Preparation and Presentation of Financial Statements (New Zealand Framework, 2018).
Standard |
91406 |
Title |
Demonstrate understanding of company financial statement preparation |
Version |
2 |
Number of credits |
5 |
Questions may include full financial statements or financial statement extracts or extracts from the notes to financial statements as per Explanatory Note 5.
Questions may include accounting entries as related to the preparation of the financial statement or extract within the question.
Candidates may be required to calculate and adjust for GST where appropriate.
The account names recorded in General Journal entries should be those provided in a trial balance where relevant. The preparation of General Journal entries may be from narrations provided in the General Journal.
Headings may not be provided in the templates for the preparation of company financial statements, extracts or notes to the financial statements.
Candidates should refer to the Level 3 Appendix for the appropriate terminology and statement names and formats when these are provided. Candidates may use an appropriate format when one is not provided.
A resource booklet will be provided.
Standard |
91408 |
Title |
Demonstrate understanding of management accounting to inform decision-making |
Version |
2 |
Number of credits |
4 |
All questions will relate to management decision-making for the same entity.
There will be opportunities for candidates to apply management decision-making throughout the paper.
Candidates should refer to Explanatory Note 4 and the Level 3 Appendix for the explanation of management accounting elements. Providing a definition only of these management accounting elements does not meet the requirements for Achievement.
Where indicated, candidates should show their working. Credit will be given where working is correct.
Candidates may be required to complete a full cash budget or extracts of a cash budget.
Candidates may be required to round any CVP calculations to the nearest whole number.