Level
3
TCE credit points
15
Course code
ACC315116
Course span
2016 — 2020
Course status
live
Reading and writing standard
No
Mathematics standard
Yes
Computers and internet standard
No

Financial matters affect every member of our society

Through engagement with Accounting Level 3, learners develop an understanding of the fundamentals on which accounting and financial management are based. In our current economic environment, where small businesses are the largest employers, many learners will find themselves self-employed or working in small business and there is a high probability that they will have to engage in some form of accounting practice. Small businesses account for almost 96 percent of the count of all actively trading businesses and 46 percent of total private sector industry employment (Department of Industry, Innovation, Science, Research and Tertiary Education (2012) Australian Small Business Key Statistics and Analysis.) Accounting Level 3, aims to make learners financially literate by creating an understanding of the systems and processes through which financial practices and decision-making are carried out, as well as the ethical, social and regulatory issues involved. An understanding of accounting assists with the discharge of accountability and in the management of financial resources. Accounting also helps learners analyse and make informed decisions about business finance. They develop skills in critical thinking, decision-making and the use of information and communication technologies and an appreciation of active and responsible citizenship. The knowledge and skills developed in accounting also enables them to analyse their own financial position and make informed decisions based on that analysis. Many learners who study Accounting Level 3, will go on to further study and careers in business and finance.