VCE - Accounting
P A G E 4 5 | P A K E N H A M S E C O N D A R Y C O L L E G E S E N I O R S C H O O L 2 0 2 6 H A N D B O O K
UNIT 1
The role of accounting in business
WHAT WILL I LEARN
The study is made up of 4 units across year
11 (units 1 & 2) and 12 (units 3&4).
WHAT’S IT ALL ABOUT?
VCE Accounting explores and applies the
financial recording, reporting, analysis and
decision-making systems and processes of a
sole proprietor trading business. Students
study the theoretical aspects of accounting
and practically apply these principles. They
collect, record, report, analyse, apply,
evaluate, and discuss accounting information
using both manual and ICT based methods.
Students apply critical thinking skills to a
range of business situations. They model
alternative outcomes and use financial
information generated to provide accounting
advice to business owners, whilst considering
ethical as well as financial considerations.
Accounting is the process of collecting,
recording, reporting, analysing, and
interpreting financial and non-financial data
and accounting information, and using it to
model, forecast and provide advice to
stakeholders in a business. This informs
decision-making within the business, with a
view to improving business performance.
Accounting therefore plays an integral role in
the successful and management of
businesses.
VCE Accounting prepares students for a
university or TAFE study pathways in
commerce, management, and accounting,
leading to careers in areas such as financial
accounting; management accounting; forensic
(investigative) accounting; taxation;
environmental accounting; management; and
corporate or personal financial planning.
Accounting is a very ‘useful’ subject that
enables students to:
acquire knowledge and skills to record
financial data and report accounting
information in a manner that is
appropriate for the needs of the user.
develop an understanding of the role of
accounting in the management and
operation of a business.
develop skills in the use of ICT in an
accounting system.
develop the skills necessary to calculate
the likely costs and returns when
modelling a variety of options and make
recommendations for a business.
develop an understanding of ethical
considerations in relation to business
decision-making.
develop the capacity to identify, analyse
and interpret financial data and
accounting information.
develop and apply critical thinking skills
to a range of business situations.
use financial and other information to
improve the accounting decision-making
within a business.
UNIT 2
Accounting and decision-making for a
trading business
ENTRY
There are no set prerequisites for entry to
Units 1 and 2; however, student should have
passes in year 10 Mathematics and
Humanities.