Commerce Pathway
Aims
Decisions! Decisions! Every participant in the modern economy needs to make them. Using concepts and ideas from the viewpoint of economists, students will gain an understanding of what influences the decisions made by consumers, producers and the Government and how they affect us all.
Then looking through the lens of the Accountant, students will learn how information, that guides good decisions, is developed and reported.
Content Overview
Level One:
Content will be selected from Economics and Accounting Standards depending upon the needs and interests of students:
Economics provides an understanding of the Concepts of scarcity, supply and demand and how these impact on the decision-making of consumers, producers and the Government.
Accounting deals with how information is processed and interpreted to help individuals and businesses and organisations make good decisions. Students will be able to process transactions and prepare financial statements for a small business.
Level Two:
Content will be selected from Economics and Accounting Standards depending upon the needs and interests of students:
Economics looks at the major macroeconomic issues of Employment, Trade, Growth and Inflation and how the Government creates policy to achieve its goals in each of these areas.
Accounting involves producing more complex financial statements for a business and an in-depth look at systems a firm needs to have in place to safeguard their funds and resources. This year, processing information is done using computer software such as the Xero accounting package.
Level Three:
Content will be selected from Economics and Accounting Standards depending upon the needs and interests of students:
Economics deals with the operation and efficiency of markets. Models are used to discuss, compare and contrast different market structures such as monopolies and competition. The reasons for government intervention in markets, such as externalities of production and consumption and inequitable outcomes, are explored. Also considered, using models, is the impact of those interventions, such as, taxation, subsidies and government provision of goods and services.
In Accounting the context for processing information and producing financial reporting, increases in complexity to include partnerships and companies.
Job Costing systems for manufacturing organisations are studied.
Cash flow management and cash budgeting are also covered.
