Assessment Specifications

Level 3 Accounting 2021

General information

Domain

Accounting – Generic

Method of assessment

Written examination

Standards

91404  91406  91408

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

There may be questions that require short answers and / or questions that require 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

There will be questions involving the preparation of company financial statements (including financial statement extracts), and General Journal and / or General Ledger entries as specified in Explanatory Note 5.

Candidates are required to explain and justify the accounting entries or the entries in the financial statements.

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.

Candidates should refer to the Level 3 Appendix on TKI for the appropriate terminology and statement names and formats.

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 on TKI 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, or extracts of, a cash budget.

Candidates may be required to round any CVP calculations to the nearest whole number.


Accounting subject page

Examination timetable

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