ACCY5101 – Introduction to Accounting and Taxation
Module code
ACCY5101
Module title
Introduction to Accounting and Taxation
Prescription
The aim of this course is to develop the knowledge, skills and competencies to apply accounting concepts, standards, processes, and tax rules to prepare financial statements.
Programmes
- BS7000
- NZ2459
- TP4775
NZQA Level
Level 5
NZQA Credits
15
Delivery method
- Web-Supported
Learning hours
- Total learning hours
- 150
Resources required
- Content
- LO1
- Accounting concepts including:
- Accounting entity; accrual accounting; going concern; periodic reporting; historic cost; qualitative characteristics
- The role of accounting standards
LO2
- Balance day adjustments including:
- Prepayments; accrued income; income received in advance; accrued expense; depreciation (NZIAS16)
- Financial statements including: statement of financial performance; statement of financial position; statement of changes in equity; cash flow statement
- NZIAS1 & NZIAS2
- Financial reporting requirements for Maori (Maori Land Act)
LO3
- Individuals:
- Working for Families; student loans; tax credits; individual tax calculations and returns; Kiwi Saver scheme
- Small businesses:
- Common types of taxable income and dedications
- GST calculations; employer obligations and calculations - PAYE, scheduler payments, Kiwi Saver scheme
- Employee and independent contractor; payment and due date of taxes; hobby versus business tests - Learning Outcomes
- 1. Apply accounting concepts to prepare financial statements for an organisation.
2. Process end of period/balance day adjustments for an organisation.
3. Apply tax rules for individuals and small businesses in Aotearoa New Zealand - Teaching and Learning Strategy
- Learning and teaching activities will employ a range of elements drawn from approved methods to align with the context of the learning (delivery mode, regional specific requirement, etc.) and any particular needs of the group of aakonga.
- Assessment Criteria
- Assessment in this course employs an achievement-based grading scheme. Participants must submit all assessments and obtain at least 50% overall score in order to pass the course. Aakonga will be advised of all matters relating to summative assessment prior to the start of the course.
- Learning and Teaching Resource
- All required and recommended resources are provided to aakonga via course outlines.
