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ACCT512 – Financial Statements

Module code
Module title
Financial Statements
To enable students to examine and apply a range of accounting principles, processes and practices in an ethical manner.
  • BI1701
  • BS7000
NZQA Level
Level 5
NZQA Credits
Delivery method
  • Web-Supported
Learning hours
Total learning hours
Resources required
Learning Outcomes
1. Process end of period adjustments to prepare financial statements.
2. Apply accounting concepts and standards to prepare financial statements for a business
3. Apply the accounting profession's Code of Ethics to given situations.
4. Research and communicate technical financial information for a business entity's
- Process transactions to ledger, trial balance and financial statements for different
accounting entities
- Financial statements for different entities e.g. sole trader, partnership, company, trust, not for
- Theoretical concepts e.g. accrual accounting, materiality, recognition and measurement,
going concern
- Depreciation and balance day adjustments/reversals
- Overview of the accounting standards environment in NZ
- Application of NZ IAS-1, NZ IAS-2, NZ IAS-7, NZ IAS-16
- Accounting theory underlying accounting processes - qualitative characteristics of
accounting information and the relationship to professional ethics
- Accounting Code of Ethics
- Communication of information through reporting. Value added reports from accounting
software e.g. financial statements, sales reports
- Professional practice attributes: Effective and appropriate communication skills, effective
and appropriate communication skills, professional and ethical behaviours, cultural
recognition and sensitivity; teamwork, managing self and others, time management.
Teaching and Learning Strategy
Teaching will involve blended delivery methods incorporating the Moodle online delivery platform. Other delivery methods may involve theoretical and practical classes, face to face, lectures, tutorials, workshops, group activities, guest tutors, field trips, role-play, and video conferencing, as appropriate.
Assessment Criteria
Assessment in this module is mixed mode. The portfolio is comprised of multiple assessment tasks. Students must attempt and submit all assessments and achieve an overall pass mark of 50% across the portfolio to pass the module.
Learning and Teaching Resource
An extended reading list will be supplied by the tutor at commencement of the module. This will be updated annually.

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