Explore the skills · QCAA
Accounting
External-exam readiness in accounting processes, performance analysis and financial-management decisions, with supporting and internal-assessment work distinguished.
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Recording and explaining the accounting process
- Explain the purpose and sequence of the accrual accounting cycleExternal exam
- Record and post trading, financing and owner transactions with GSTExternal exam
- Record non-current asset acquisition and disposalExternal exam
- Identify and correct accounting errorsExternal exam
Making balance-day adjustments
- Adjust prepaid and accrued expensesExternal exam
- Adjust unearned and accrued revenueExternal exam
- Calculate and record annual and part-year depreciationExternal exam
- Record overdue interest, bad debts and recoveriesExternal exam
- Calculate and adjust a provision for doubtful debtsExternal exam
- Adjust inventory discrepancies and lower-of-cost-or-NRV valuesExternal exam
Completing and reconstructing accounts
- Balance ledger accounts and prepare an adjusted trial balanceExternal exam
- Close temporary accounts and transfer the period resultExternal exam
- Select and record reversing entriesExternal exam
- Reconstruct accounts to determine missing transactions or cash flowsExternal exam
Preparing and connecting financial statements
- Prepare a fully classified Statement of Profit or LossExternal exam
- Prepare a fully classified Statement of Financial PositionExternal exam
- Prepare a fully classified Statement of Cash Flows with GSTExternal exam
- Explain the relationship between profit and operating cash flowExternal exam
- Solve a complete accounting-process problem from incomplete recordsExternal exam
Selecting and calculating performance measures
- Distinguish sole-trader and public-company reportingExternal exam
- Calculate profitability and return measuresExternal exam
- Calculate liquidity and working-capital turnover measuresExternal exam
- Calculate stability, gearing and debt-coverage measuresExternal exam
- Calculate cash-flow sufficiency and generation measuresExternal exam
- Calculate company-specific earnings and shareholder measuresExternal exam
- Calculate vertical, horizontal and trend analysisExternal exam
Interpreting performance and evaluating decisions
- Analyse and interpret public-company profitabilityExternal exam
- Analyse and interpret public-company liquidityExternal exam
- Analyse and interpret public-company stabilityExternal exam
- Analyse the quality and sustainability of company cash flowsExternal exam
- Qualify performance comparisons and benchmark conclusionsExternal exam
- Evaluate company performance against industry benchmarksExternal exam
- Evaluate proposed financial-management changes and recommend actionExternal exam
Cash management and project support
- Prepare a bank reconciliationSupporting learning
- Prepare receipt/GST schedules and a cash budgetInternal assessment only
- Model and compare budget alternatives in a spreadsheetInternal assessment only
- Analyse cash budgets and evaluate cash controlsInternal assessment only
- Communicate the cash-management solution in a business reportInternal assessment only
Resource controls and sole-trader reporting support
- Evaluate non-current-asset and business-data controlsInternal assessment only
- Model and graph asset depreciation in a spreadsheetSupporting learning
Sole-trader performance evaluation and reporting
- Evaluate sole-trader performance and investment alternativesInternal assessment only
- Communicate sole-trader analysis in a business-report extractInternal assessment only