Unit 3 - Sample approaches to developing an assessment task

Area of Study 1

Outcome 1: Recording and analysing financial data

On completion of this unit students should be able to record financial data using a double entry system, explain the role of the General Journal, General Ledger and inventory cards in the recording process; and describe, discuss and analyse various aspects of the accounting system, including ethical considerations.

Step 1: Define the parameters of the outcome and its related assessment options

The VCE Accounting Study Design pages 21–23 provides details of the key knowledge and key skills related to Unit 3 Outcome 1 and the corresponding area of study, ‘Recording and analysing financial data’.

Teachers should be familiar with the relevant key knowledge and key skills related to the specific outcome being assessed in order to plan an assessment task. It should be noted that students are not obliged to identify every key knowledge and key skill dot point, nor should the task focus on too narrow a range of key knowledge and key skills.

The study design identifies a range of task types that could be used and the study advice provides detailed examples of sample tasks.

Step 2: Refer to the assessment advice

The performance descriptors in the study advice give a clear indication of the qualities and characteristics that should be apparent in a student response at each level of achievement. Teachers may select from a range of specified assessment tasks. Note: there is a requirement that at least 30 marks of the 100-mark weighting of School assessed Coursework for Unit 3 must be allocated to ICT-based assessment.

Step 3: Determine teaching and learning activities

Unpack the performance descriptors because they provide a clear indication of the qualities and characteristics you will be seeking in a student response.

The teaching and learning activities should be designed to develop, maintain and extend student proficiency in all of the key knowledge and key skills. Relate the key knowledge and key skills to the specific content to be taught. Include activities designed to elicit students’ understanding and use of key knowledge and key skills for this outcome.

Teachers may consider using a range of tasks as part of the teaching and learning activities. Both key knowledge and key skills as specified in the area of study must be addressed, presented and practised in class in order to prepare students.

For example, in Unit 3 Area of Study 1, the teacher should focus on learning activities that would build student knowledge and skills so they demonstrate that they can:

• use correct accounting terminology
• explain and apply relevant qualitative characteristics and accounting assumptions
• apply theoretical knowledge to simulated situations
• identify and manually record financial data in the General Journal, General Ledger and inventory cards
• use ICT to record financial data in the General Journal, General Ledger and inventory cards, and to construct graphical representations
• distinguish between current and non-current assets, and current and non-current liabilities
• explain the purpose of a Trial Balance
• explain and apply appropriate internal control procedures
• analyse the effect of financial transactions on the accounting equation
• distinguish between product and period costs in relation to inventory valuation
• use ICT, including spreadsheets, to model and analyse the effect of alternative inventory valuation methods and cost assignment methods
• evaluate the effect of alternative inventory valuation methods and cost assignment methods on the accounting equation
• discuss strategies to improve the management of inventory, accounts receivable and accounts payable
• discuss ethical considerations involved in decisions made by owners of trading businesses.

Students may be given revision activities and exercises in preparation for the assessment task.

Step 4: Design the assessment task

It is recommended that assessment tasks be completed in class under supervision and within a limited time frame. The overall assessment program for the unit should include a variety of assessment task formats, include provision for authentication of student work and take into account the overall workload for students.

Schools may determine the conditions for each task.

Students should be advised of the timeline and conditions under which the task is to be completed.
The assessment task must directly assess the students’ grasp of the key knowledge and key skills plus their ability to apply these to the task, and hence demonstrate achievement of the outcome to be assessed.

The School-assessed Coursework task for Unit 3 Area of Study 1 is worth 60 marks of the 100 marks available for internal assessment for Unit 3. It should be completed at the end of Area of Study 1 to ensure that students have been exposed to, and had the opportunity to grasp, the specified key knowledge and key skills.

The exact dates and times for assessment to take place is a school-based decision that may be determined after consultation with students, VCE coordinators and other key staff.

Clear instructions should be given regarding the requirements of the task, including criteria, time allocation and format. The task should be unambiguous, and the requirements of the responses should be explicitly stated.

The marking scheme used to assess a student’s level of performance should reflect the relevant aspects of the performance descriptors and be explained to students before commencing the task.

One approach to constructing the assessment task: Unit 3 Outcome 1

Construct a brief case study where students are presented with financial data relating to a double entry system, the General Journal, General Ledger and inventory cards. Design questions and tasks that require students to record this data using a double entry system, analyse and justify their treatment, use and interpretation of the data. Students could also be required to explain the role of the General Journal, General Ledger and inventory cards in the recording process. Students should be asked to describe, discuss and analyse various aspects of the accounting system. Students’ understanding of relevant ethical considerations should also be assessed.

Sources such as commercially produced School-assessed Coursework materials, financial reports and data, textbooks and the media can all be used as stimulus when designing a SAC assessment and developing questions. These materials should be adapted and modified, and used to assist in the development of questions which specifically address and assess students’ understanding and grasp of the key knowledge and key skills.

Allocation of marks

This task is worth 60 marks towards the total of 100 marks allocated to School-assessed Coursework for Unit 3. Please note that the VCE Accounting Study Design stipulates that at least 30 marks must be allocated to ICT-based assessment in Unit 3.

The teacher must decide the most appropriate time to set this task and inform the students ahead of the date. This decision is the result of several considerations including:

• the estimated time it will take to teach the key knowledge and skills for the outcome
• the likely length of time required for students to complete the task
• when tasks are being conducted in other subjects and the workload implications for students.