VCE Accounting Units 1 & 2 (Year 11) introduces the recording, reporting, and analysis of financial information for service and trading businesses. Every concept and skill learned in Year 11 is directly built upon in Units 3 & 4 (Year 12).
| Unit 1 – Service Business | Recording transactions for a business that provides services (no inventory). Covers: accounting equation, source documents, double-entry rules, general journal, general ledger, trial balance, Income Statement, Balance Sheet. |
| Unit 2 – Trading Business | Recording for a business that buys and sells goods. Adds: perpetual inventory system, FIFO and Identified Cost methods, balance-day adjustments (accruals, prepayments, depreciation), comprehensive financial statements. |
| SAC Assessment | All assessment in Units 1 & 2 is through School-Assessed Coursework (SACs) set by your school. There is no VCAA external exam for Year 11. |
| Year 12 connection | Every Year 12 Accounting exam question draws directly on Year 11 foundations. Students who master Units 1 & 2 deeply find Year 12 significantly more manageable. |
