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Topical Accounting Issues. AS 91481 – Accounting 2.5 Presented by Elizabeth Pitu. Accounting matrix. AS 91481 Demonstrate understanding of a topical accounting issue for decision making. Purpose. Achievement Standard 91481 (internal 4 credits) - PowerPoint PPT Presentation

Transcript of Topical Accounting Issues

Workshop Napier

Topical Accounting IssuesAS 91481 Accounting 2.5

Presented by Elizabeth PituAccounting matrixConceptualProcessingReportingInterpretationDecision-makingSystemsAS90976 1.1Concepts3 credits XAS909771.2Processing cash.5 credits I AS909781.3Financial statements 5 credits X AS909801.5Interpretation4 credits X AS909811.6Individual/group decision.3 credits I AS909821.7Cash management4 credits IAS909791.4Community organisations4 credits I AS911742.1Concepts.4 credits XAS911752.2Processing software.4 credits I AS911762.3Financial statements5 credits X AS91177 2.4Interpretation4 credits XAS914812.5Topical issue decision making4 credits I AS911792.6Accounts receivable.3 credits I AS913862.7Inventory.3 credits IAS914043.1Reporting entity concepts4 credits XAS914053.2Partnerships4 credits I AS914063.3Company financial statements. 5 credits X AS914073.4Annual report5 credits I AS914083.5Management accounting4 credits XAS914093.6Job costing4 credits I AS 91481 Demonstrate understanding of a topical accounting issue for decision makingAchievementAchievement with MeritAchievement with ExcellenceDemonstrate understanding of a topical accounting issue for decision-making.Demonstrate in-depth understanding of a topical accounting issue for decision-making.Demonstrate comprehensive understanding of a topical accounting issue for decision-making.PurposeAchievement Standard 91481 (internal 4 credits)Demonstrate understanding of a topical accounting issue for decision-making This achievement standard provides students with an opportunity to explore relevant current/topical accounting issues for decision making. It provdies students with an opportunity to use a social inquiry approach to their learning:

Social inquiry allows students to:ask questions, gather information and background ideas, and examine relevant current issuesexplore and analyse peoples values and perspectivesconsider the ways in which people make decisions and participate in social actionreflect on and evaluate the understandings they have developed and the responses that may be required.Source NZC page 305

Teaching and learningStudent centeredTeacher facilitatedClass, group or individual activityPresentation options

Teaching and learning in this unit is likely to be student centered with the teacher facilitating the exploration of the issue/issues students choose to study. The whole class could focus on one issue or each student could be given freedom to select their own issue. Information can be gathered as a class, in groups or individually. Students should be encouraged to use technology to present their findings. There is no requirement to write a report.

7Focus on decision-makingThe focus of this standard is on decision-making, ie the factors the entity takes into account when making a decisionAn actual decision is not required

The standard does not require advice on making an actual decision or require the entity to make a decision (compared to Level 1 for example, Make a decision for an individual or group)

8Unpacking ExcellenceDemonstrate comprehensive understanding involves justifying how a topical accounting issue impacts on decision-making for an entity, incorporating financial and non-financial information by:justifying why the issue is important to the entityjustifying how and why the issue affects decision-making by the entitydrawing a conclusion that justifies the importance of the issue to the entitys decision-making.

Achievement = describeMerit = explain

9Topical accounting issuesA topical accounting issue is any issue that impacts on the decision-making of the entity The issue will have both financial and non-financial aspects impacting on the decision-makingThe issue will have importance to the decision-making of the entity

You have examples of sustainability and student loans10EntitiesThe CoA list a wide range of possible entities including individuals/whanau, schools, community organisations, councils, businessesIn selecting an entity consider student engagement with the issue and the entityGive students a choice

While you might be very interested in the local council decision-making likely to influence the value of your property will your students?

11Student as the entityStudent loans for example are highly relevant for most students planning tertiary studyStay at home/go away for tertiary study is another issue relevant to students which can be explored

SustainabilityAny entity can be chosenSustainability can be broad such as being part of Clean Green New Zealand or 100% pure New Zealand or narrow such as recycling (household) rubbish or setting up a worm farm or deliberate energy/fuel savingsExample Going solarA number of New Zealand households, particularly those in rural areas far from the nearest power pole delivering electricity are choosing partial or even full solar energy options for their homes.A Ruapuke couple has done just that.

See handout14Sustainable business considerations

15A Mori perspectiveKaitiakitanga and Iwi treaty settlements of land and/or money and/or other assetsGeothermal partnerships between local Mori and Mighty River Power or Contact EnergyTainuis plans for an inland port and 50 year development at Ruakura

How does sustainability/kaitiakitanga affect the decisions an iwi makes about the use of its physical resources as it uses these to generateincome in a way that the resource will continue to be there for future generations to use to generate income for themselves. For example how does sustainability influence an iwis decision to use their land for horticulture/farming/commercial development (think The Base and Tainui plus for those in the Waikato Tainuis future plans for a inland port provide an excellent example) rather than turning it into a luxury housing development that doesn't provide sustainable on going work for the members of the iwi.For those in Eastern Bay of Plenty and Taupo regions Might River Powers geothermal generation partnerships with local iwi provide another Maori focus example that could be explored.

16Thank youPlease feel free to email me if you have any questions about this trust you have learned something.