AS 91409 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, 729 KB]

TKI Accounting assessment resources (external link)

For Excellence, the student needs to demonstrate comprehensive understanding of a job cost subsystem for an entity.

This involves:

• justifying the application of elements of a job cost subsystem to an entity to enable an entity to maintain its viability
• processing detailed financial information to justify the cost of a job.

This student has accurately calculated the quotes for legal services from Legal Eagles and from Levin Law (1), and has then compared the two firms’ methods of allocating costs (2). An overhead control account has been used to calculate over-applied overhead for Legal Eagles (3).

The purpose of Legal Eagles’ job cost subsystem has been effectively explained (4). A justification for using partners’ hours as the cost driver has been provided (5). The student has justified how the over-application of overheads occurred (6).

For a more secure Excellence, the student could expand their comment on how Legal Eagles’ job cost subsystem will enable the firm to meet its profit goals and contribute to ongoing operations. Further evidence could be provided about the consequence for ongoing operations of over-applying overhead costs.

For Merit, the student needs to demonstrate in-depth understanding of a job cost subsystem for an entity.

This involves:

• explaining the application of elements of a job cost subsystem to an entity to maintain its viability
• processing detailed financial information to determine the cost of a job.

This student has accurately calculated the quotes for legal services from Legal Eagles and from Levin Law (1). The quotes from the two firms have been compared in the report (2). Journal entries for Legal Eagles have been prepared (3).

The student has indicated that Levin Law’s omission of some direct costs in their quote may have an impact on their ability to maintain their viability (4). There is an implication that Legal Eagles’ inclusion of all direct costs in the quote enhances their long-term viability (5). The use of partners’ hours as a cost driver has been justified (6).

There is sufficient accuracy of processing detailed financial information (1) (3). A report has been prepared that explains the application of the job cost elements for Legal Eagles (2).

To reach Excellence, the student could more accurately process the overhead account to calculate over-applied overhead. They could also elaborate on how tracing all direct costs back to the client contributes to the long-term viability of Legal Eagles.

For Merit, the student needs to demonstrate in-depth understanding of a job cost subsystem for an entity.

This involves:

• explaining the application of elements of a job cost subsystem to an entity to maintain its viability
• processing detailed financial information to determine the cost of a job.

This student has prepared an overhead control account for Legal Eagles (1). Elements of the job costing subsystem have been explained (2). The connection between the application of overhead and the viability of the firm has been implied (3).

For a more secure Merit, the student could accurately calculate the over-applied overhead. Within the comparison of Legal Eagles and its opposition, specific quote amounts could be included.

For Achieved, the student needs to demonstrate understanding of a job cost subsystem for an entity.

This involves:

• explaining the purpose and elements of a job cost subsystem for an entity
• processing financial information to determine the cost of a job
• applying elements of a job cost subsystem to an entity to maintain its viability.

This student has accurately calculated quotes for Legal Eagles and the opposition (1). An overhead control account has been prepared using incorrect overhead data, but demonstrating an understanding of the process (2).

The purpose of the job costing subsystem has been explained (3), with some elements placed in the context of Legal Eagles. The student has given a valid, though generic, explanation as to why partners’ hours are the best cost-driver for overheads in a law practice (4).

There is an implied relationship between accurately charging clients and remaining in business long-term (5).

To reach Merit, the student could use actual overhead data in the overhead account to calculate the over-application of overhead. Job costing elements could be more closely related to Legal Eagles and explanations as to how the job costing subsystem contributes to ongoing operations could be strengthened.

For Achieved, the student needs to demonstrate understanding of a job cost subsystem for an entity.

This involves:

• explaining the purpose and elements of a job cost subsystem for an entity
• processing financial information to determine the cost of a job
• applying elements of a job cost subsystem to an entity to maintain its viability.

This student has calculated the cost of Legal Eagles arguing a law case (1). Most entries in the overhead account have been correctly entered (2). Some job costing elements have been explained in context (3).

The student has made a connection between profitability and the retention of clients, and the viability of Legal Eagles (4).

For a more secure Achieved, the student could accurately calculate under- or over-applied overhead. The student could discuss the contrast between direct cost calculation by Legal Eagles and Levin Law, and the impact the difference could have on the future viability of Legal Eagles. 

For Achieved, the student needs to demonstrate understanding of a job cost subsystem for an entity.

This involves:

• explaining the purpose and elements of a job cost subsystem for an entity
• processing financial information to determine the cost of a job
• applying elements of a job cost subsystem to an entity to maintain its viability.

This student has attempted to calculate the cost of Legal Eagles arguing a law case (1), and has prepared minimal journal entries (2). Accurate information about a generic job costing system has been provided (3) though not applied to Legal Eagles.

To reach Achieved, the student could ensure that all explanations are in the context of the entity, in this case referring to selling legal services. The student would also need to more accurately process job costing transactions and explain how some of the subsystem’s elements relate to the ongoing viability of Legal Eagles.