VCE AccountingPractice Examination 12

This paper covers

• Unit 3 recording — perpetual FIFO inventory, double-entry journals and GST Clearing from source documents
• Unit 3 reporting — classified Income Statement and Balance Sheet satisfying the accounting equation
• Unit 4 balance-day adjustments — prepaid/accrued items, doubtful debts, reducing-balance depreciation and disposal of a non-current asset
• Unit 4 budgeting — a Cash Budget revealing a projected bank deficit across three consecutive months, with a Budgeted Income Statement contrast
• Unit 4 analysis and interpretation — liquidity, gearing, profitability and efficiency indicators over two years with integration of non-financial information
• Ethical considerations and the four qualitative characteristics / accounting assumptions applied to recording, reporting and decision-making

Students are permitted to bring into the examination the materials normally allowed for this subject. Answer all questions in the spaces provided.

This is an ATARMAxxing practice paper. It is not an official examination and is not affiliated with, endorsed by, or produced by the VCAA, NESA or the QCAA.