Choosing your subjects in VCE can be hard. Accounting is one of the most popular commerce subjects on offer, and for good reason! Not only does it have a good mix of theory and numerical skills, but it also teaches you skills that you’ll find useful for the rest of your life. Read below to see how the VCE Accounting course is structured and to see who we think it’s suited to.
How is it structured?
Accounting is one of the many commerce subjects offered at the VCE level. After recently updating the study design, this subject now offers a more realistic insight into the real-world operations and management of a trading firm.
Unit 3 concerns financial accounting for a trading business.
The main aim of this unit is to learn the basic systems that are in place to record the accounting information which is typical of trading businesses. Students will gain an in depth understanding of the double entry system, the nature of accrual accounting and the perpetual inventory system – all of which are considered fundamental knowledge for accountants in the professional world.
Unit 4 deals with recording, reporting, budgeting and decision making.
This unit delves into the more complex and intricate nuances of accounting transactions. Students will be exposed to the types of judgements and decision-making choices which accountants are regularly required to exercise. This unit is particularly focused on budgeting, the analysis and interpretation of accounting information, and the strategies and recommendations that are available to improve operational performance. The analytical skills developed in this stage of the course provide a great advantage to students looking to pursue a career in this field.
Our take
We think accounting is the perfect subject for commerce-minded students and logical thinkers. Here’s why:
- The subject is inherently based on logical principles and practical application, so studying and revision becomes easy once the basics are understood.
- Accounting provides insight into real-world business operations and gives students a broad understanding of how trading firms work.
- Students will be encouraged to develop critical analytical skills and understand the role of human judgements and decision-making within business processes – a skill becoming increasingly important in the professional world.
