AS 91175 annotated exemplars

This annotated exemplar is intended for teacher use only. Annotated exemplars are extracts of student evidence, with commentary, that explain key parts of a standard. These help teachers make assessment judgements at the grade boundaries.

Download all exemplars and commentary [PDF, 618 KB]

TKI Accounting assessment resources (external link)

For Excellence, the student needs to demonstrate comprehensive understanding of accounting processing using accounting software.

This involves:

• using an appropriate chart of accounts to set-up inventory, cost of goods sold and sales accounts for each item of inventory and classifying new accounts for each financial element except equity
• processing frequent, infrequent and complex transactions, and using the bank function or equivalent to split one total (e.g. banking total or payment total) into more than one account.

The student has set up separate inventory, cost of goods sold and sales accounts for each item of inventory, classifying new accounts for assets, liabilities, income and expenses.

The student has processed both frequent and infrequent entries, processed a complex entry for depreciation (1), processed a complex entry for disposal (2), processed a complex entry for correction of an error (3), and used the banking function to bank receipts (4).

For a more secure Excellence, the student could accurately process the correction of the complex error with the correct GST treatment (3).

For Merit, the student needs to demonstrate in-depth understanding of accounting processing using accounting software.

This involves:

• using an appropriate chart of accounts to set-up inventory, cost of goods sold and sales accounts for each item of inventory and classifying new accoun
• processing frequent and infrequent transactions.

The student has set up separate inventory, cost of goods sold and sales accounts for each item of inventory, classifying new accounts for assets, liabilities, income and expenses.

The student has prepared infrequent transactions correctly, including inventory returns (1), sundry charges (2), drawing of goods (3), inventory loss (4), purchase of property, plant and equipment (5), and correction of error (6).

To reach Excellence, the student could use the banking function to bank the undeposited funds for the day (or specified time period) into the bank account, so that in future a bank reconciliation can be prepared.

For Merit, the student needs to demonstrate in-depth understanding of accounting processing using accounting software.

This involves:

• using an appropriate chart of accounts to set-up inventory, cost of goods sold and sales accounts for each item of inventory and classifying new accounts
• processing frequent and infrequent transactions.
  The student has processed infrequent transactions for: inventory returns (1), sundry charges (2), stock drawings (3), inventory loss (4), purchase of PPE (5) and correction of an error (6).

For a more secure Merit the student could:

• use correct dates for the inventory return (1)
• correctly adjust GST for the drawing of the inventory (3).

For Achieved, the student needs to demonstrate understanding of accounting processing using accounting software.

This involves:

• using an appropriate chart of account
• processing frequent transactions.

The student has processed frequent transactions for: cash receipts (1), cash payments (2), credit sales for three different types of inventory (3) and credit purchases for each item of inventory (4).

To reach Merit the student could have processed infrequent transactions.

For Achieved, the student needs to demonstrate understanding of accounting processing using accounting software.

This involves:

• using an appropriate chart of accounts
• processing frequent transactions.

The student has processed the credit sales (1) (2) (3).

For a more secure Achieved, the student could demonstrate understanding that the three sales are for different types of inventory, by either naming the transaction or naming one of the accounts differently.

For Achieved, the student needs to demonstrate understanding of accounting processing using accounting software.

This involves:

• using an appropriate chart of accounts
• processing frequent transactions.

The student has processed entries for sales and purchases (1) (2).

To reach Achieved the student could ensure the processing of purchases includes entries for GST.