Drouin Secondary College - Course Selection

12 VCE Accounting (12HAC1)

The Course

The focus of Units 3 & 4 is on financial accounting. Students use the double entry system of recording financial data and prepare reports using the accrual basis of accounting. They prepare and interpret financial reports at the end of the reporting period to provide information for planning and decision making by owners. Student investigate the role and importance of budgeting for the business, they interpret accounting information from reports and graphical representations, and analyse the results to suggest strategies to the owner on how to improve business performance with the calculation of indicators. Ethical considerations of business owners when making decisions are also looked at in detail.


If students have completed year 11 Accounting, a majority of the topics in the year 12 course is the same. 

Unit 3 Topics

Unit 3: Financial accouting for a trading business

Recording and analysing financial data

Preparing and interpreting accounting reports

Unit 4 Topics

Unit 4 - Recording, reporting, budgeting and decision making

Extension of recording and reporting


Budgeting and decision making

Learning and Assessment Activities

The following will be made at the discretion of the teacher, and can include manual or ICT.

These units lead to

Any Business University course, including marketing, management, accounting, banking, finance or commerce. After successful completion of University and the completion of a CPA or CA degree (completed while working within an accounting firm), students can work in any industry either in Australia or overseas. http://www.cpaaustralia.com.au/ Many companies are large enough and complex enough to require the ongoing expertise of an in-house accountant. As an accountant, you may find yourself working for a manufacturing firm, a hospital, a bank, an insurance company, or a brokerage firm.

Accountants are also employed by federal government agencies such as the Securities and Exchange Commission (SEC) and federal police. State government agencies and large not-for-profit organizations also hire accountants.

Special considerations

Before undertaking VCE Accounting, it's advisable that you have satisfactorily completed Year 11 Accounting.  You must undertake Unit 3 prior to undertaking Unit 4.

Costs involved

There are no excursions for this subject. Textbooks are approximately $80

There is a common misconception that students need to be good at maths to do well in accounting, this is not the case.

Materials required

Textbook, workbook and calculator.

For further information see...

Miss Burton

Study design link