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VCE Accounting past exams 2018–2025, by year and topic
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ATARMAxxing indexes 8 official VCAA Accounting papers from 2018 to 2025, with 51 questions mapped to 5 areas of study. Every paper opens on the VCAA website.
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Preview the worked question →VCE Accounting exams by year: official papers & marking guidance
Past exams indexed: 2025, 2024, 2023, 2022, 2021, 2020, 2019, 2018. Open the official VCAA papers, with marking guidance where available.
| Year | Study design | Official paper(s) | Marking guidance |
|---|---|---|---|
| 2025 VCE Accounting exam | Study Design 2025–2029 (current) | Written examination ↗ | Marking guidance ↗ |
| 2024 VCE Accounting exam | Study Design 2019–2024 (previous) | Written examination ↗ | Marking guidance ↗ |
| 2023 VCE Accounting exam | Study Design 2019–2024 (previous) | Written examination ↗ | Marking guidance ↗ |
| 2022 VCE Accounting exam | Study Design 2019–2024 (previous) | Written examination ↗ | Marking guidance ↗ |
| 2021 VCE Accounting exam | Study Design 2019–2024 (previous) | Written examination ↗ | Marking guidance ↗ |
| 2020 VCE Accounting exam | Study Design 2019–2024 (previous) | Written examination ↗ | Marking guidance ↗ |
| 2019 VCE Accounting exam | Study Design 2019–2024 (previous) | Written examination ↗ | Marking guidance ↗ |
| 2018 VCE Accounting exam | Previous study design (pre-2019) | Written examination ↗ | Marking guidance ↗ |
8 official papers across 8 years (2018–2025), 8 with marking guidance, published by VCAA. These span more than one study design; the most recent is Study Design 2025–2029 (current). Earlier papers may cover material that has since changed.
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Unit 3 AoS 1 — Recording and analysing financial data · 18 mapped questions
Accounting assumptions and qualitative characteristics
- 2023Study Design 2019–2024 (previous)Written examination Q2d2 marksExplain why an owner-contributed vehicle is recorded at fair value rather than original cost.Official paper ↗Marking guidance ↗Check tutors for this question →
Source documents and the General Journal/General Ledger
- 2023Study Design 2019–2024 (previous)Written examination Q2a3 marksGeneral Journal entry to establish a double-entry system from a list of opening assets and liabilities.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q2b2 marksExplain one reason for using a double-entry accounting system.Official paper ↗Marking guidance ↗Check tutors for this question →
Product cost, period cost and lower of cost and net realisable value (NRV)
- 2025Study Design 2025–2029 (current)Written examination Q3b3 marksGeneral Journal entry for an inventory write-down where a discounted selling price and a free-gift incentive both reduce net realisable value.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q4a5 marksDetermine and justify the cost price per unit of imported inventory including freight, distinguishing product cost from period cost (insurance).Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q4c1 markCalculate a mark-up-on-cost selling price for a unit of inventory.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q4d4 marksGeneral Journal entry for a further inventory write-down where a discounted price and a free giveaway both affect net realisable value.Official paper ↗Marking guidance ↗Check tutors for this question →
Internal control procedures for inventory, receivables and payables
- 2025Study Design 2025–2029 (current)Written examination Q2a2 marksIdentify two possible non-theft causes of an inventory loss shown in comparative data.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q2b2 marksDescribe an additional internal control procedure to reduce inventory theft.Official paper ↗Marking guidance ↗Check tutors for this question →
Financial indicators: inventory turnover, accounts payable turnover, accounts receivable turnover
- 2025Study Design 2025–2029 (current)Written examination Q2c4 marksAnalyse the likely business-performance effects of an inventory turnover much slower than industry average.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q3c3 marksDescribe likely consequences for a business if its accounts payable turnover keeps rising above suppliers' credit terms.Official paper ↗Marking guidance ↗Check tutors for this question →
Strategies to improve management of inventory, receivables and payables; ethical considerations
- 2025Study Design 2025–2029 (current)Written examination Q1b2 marksExplanation of how credit notes serve as a non-financial performance indicator.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q1b2 marksDescribe one strategy to improve an inventory turnover that has slowed well above industry average.Official paper ↗Marking guidance ↗Check tutors for this question →
Double-entry recording (cash, credit, returns, corrections)
- 2025Study Design 2025–2029 (current)Written examination Q1a4 marksGeneral Journal entry to record a credit note for a returned, damaged inventory item including GST.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q4b2 marksGeneral Journal entry to record a cash payment for air freight of imported inventory.Official paper ↗Marking guidance ↗Check tutors for this question →
Inventory cards — FIFO and Identified Cost
- 2025Study Design 2025–2029 (current)Written examination Q2d3 marksJustify a suggested switch from Identified Cost to FIFO inventory cost assignment on efficiency grounds.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q3a2 marksGeneral Journal entry to record a cash inventory purchase including delivery cost under FIFO.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q1a5 marksGeneral Journal entries for an inventory return and an inventory write-down/loss identified from a completed FIFO inventory card.Official paper ↗Marking guidance ↗Check tutors for this question →
Also in this areas of study: Accounting elements and the accounting equation · GST Clearing account and double-entry recording (cash, credit, returns, corrections) · Inventory cards — FIFO and Identified Cost (purchases, sales, returns, drawings, advertising use, loss/gain, write-down) · Allowance for doubtful debts (Income Statement approach) and writing off bad debts — question-level mapping in progress; the year table above links every official paper.
Unit 3 AoS 2 — Preparing and interpreting accounting reports · 6 mapped questions
Classified Income Statement, Balance Sheet and Cash Flow Statement
- 2023Study Design 2019–2024 (previous)Written examination Q2c4 marksPrepare the Current Assets section of an opening Balance Sheet from a list of balances.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q5b7 marksPrepare the Operating Activities section of a Cash Flow Statement for a cash-only trading business.Official paper ↗Marking guidance ↗Check tutors for this question →
Effects of transactions on accounting reports
- 2023Study Design 2019–2024 (previous)Written examination Q5a7 marksPrepare Inventory and GST Clearing ledger accounts to determine cash flow items for a Cash Flow Statement.Official paper ↗Marking guidance ↗Check tutors for this question →
Distinction between cash and profit
- 2023Study Design 2019–2024 (previous)Written examination Q5c4 marksExplain, with an example, why Operating Activities cash flow can be more informative than the Income Statement even for a cash-only business.Official paper ↗Marking guidance ↗Check tutors for this question →
Financial and non-financial indicators to measure performance
- 2023Study Design 2019–2024 (previous)Written examination Q3a5 marksUse sales, net profit and margin charts to explain a three-year decline in Net Profit despite rising sales.Official paper ↗Marking guidance ↗Check tutors for this question →
Graphical representations and strategies to improve business performance
- 2023Study Design 2019–2024 (previous)Written examination Q3b4 marksExplain two strategies an owner could use to improve profitability given the trend shown.Official paper ↗Marking guidance ↗Check tutors for this question →
Also in this areas of study: Balancing General Ledger accounts and closing entries · Profit and Loss Summary account and transfer to Capital · Ethical considerations in recording and reporting — question-level mapping in progress; the year table above links every official paper.
Unit 4 AoS 1 — Extension of recording and reporting · 12 mapped questions
Disposal of non-current depreciable assets (including GST treatment on trade-ins)
- 2025Study Design 2025–2029 (current)Written examination Q8b4 marksComplete a Disposal of Delivery Van ledger account for a van traded in against a new vehicle purchase.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q8d2 marksClassify the cash-flow effect (inflow/outflow, activity section) of the van disposal and new van purchase.Official paper ↗Marking guidance ↗Check tutors for this question →
Balance day adjustments: prepaid expenses, accrued expenses, unearned revenue, accrued revenue
- 2025Study Design 2025–2029 (current)Written examination Q1c4 marksPrepare Prepaid Advertising and Advertising General Ledger accounts after a balance day adjustment for a prepaid advertising contract.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q7a12 marksRecord a full set of balance day adjustments from a trial balance covering inventory shortage, accrued wages, prepaid insurance, reducing-balance depreciation on part-year new equipment, accrued electricity, and unearned sales revenue.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q7c3 marksExplain the accounting treatment of a customer deposit received for goods not yet delivered.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q6a13 marksComplete and close ledger accounts for prepaid rent, accrued wages, unearned sales revenue, reducing-balance depreciation and an allowance for doubtful debts based on a percentage of net credit sales.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q6b4 marksExplain, with reference to an accounting assumption, the treatment applied to one balance day adjustment (exam-corrected: 'unearned' not 'prepaid').Official paper ↗Marking guidance ↗Check tutors for this question →
Classified accounting reports incorporating balance day adjustments
- 2025Study Design 2025–2029 (current)Written examination Q7b4 marksPrepare the Current Liabilities section of a Balance Sheet incorporating the balance day adjustments from Q7a.Official paper ↗Marking guidance ↗Check tutors for this question →
Depreciation methods: straight-line and reducing balance
- 2025Study Design 2025–2029 (current)Written examination Q8a1 markCalculate part-year straight-line depreciation on a delivery van up to its trade-in date.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q8c3 marksCalculate full-year straight-line depreciation on delivery vans following a mid-year trade-in and replacement.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q8a5 marksCalculate the total cost of holding two alternative vehicles (electric vs hybrid) over their useful life, netting off residual value.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q8c2 marksExplain what a non-current asset's carrying value on the Balance Sheet represents.Official paper ↗Marking guidance ↗Check tutors for this question →
Also in this areas of study: Purchase of non-current depreciable assets (cash and loan-financed) · Depreciation methods: straight-line and reducing balance, and their implications for reports · Adjusted Trial Balance · Cash vs profit distinction; ethical considerations in reporting — question-level mapping in progress; the year table above links every official paper.
Unit 4 AoS 2 — Budgeting and decision-making · 11 mapped questions
Budgeted Cash Flow Statement, Budgeted Income Statement, Budgeted Balance Sheet
- 2025Study Design 2025–2029 (current)Written examination Q4a3 marksCalculate budgeted GST payable to the ATO for the month from budgeted sales and purchase figures.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q4b7 marksPrepare Allowance for Doubtful Debts and Accounts Receivable ledger accounts to derive budgeted cash collected from receivables.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q4c6 marksPrepare the Operating Activities section of a Budgeted Cash Flow Statement from an income statement and balance sheet extracts.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q7a6 marksExplain how a business expansion (new premises, staffing, credit terms, loan) affects each Cash Flow Statement section in two consecutive months.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q7b1 markCalculate a budgeted closing bank balance from a chart of net cash flows by activity.Official paper ↗Marking guidance ↗Check tutors for this question →
Analysis of historical vs budgeted reports and limitations of analysis
- 2025Study Design 2025–2029 (current)Written examination Q4d3 marksExplain why budgeted net cash flow from operations can exceed budgeted net profit for the same period.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q4e2 marksExplain one advantage of switching from quarterly to monthly budgeting.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q7c6 marksDiscuss whether an owner should be concerned about liquidity during a funded expansion, using operating/investing/financing cash flow data.Official paper ↗Marking guidance ↗Check tutors for this question →
Strategies to improve business performance
- 2025Study Design 2025–2029 (current)Written examination Q5a4 marksComplete a table calculating annual shift profit under current and a proposed 20%-higher wage rate for an overnight shift.Official paper ↗Marking guidance ↗Check tutors for this question →
Ethical considerations in business decision-making
- 2025Study Design 2025–2029 (current)Written examination Q5b6 marksDiscuss financial and ethical considerations and recommend whether to continue an unprofitable but socially valuable overnight shift.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2023Study Design 2019–2024 (previous)Written examination Q8b6 marksDiscuss financial and ethical (emissions) issues between two vehicle options and recommend one to the owner.Official paper ↗Marking guidance ↗Check tutors for this question →
Also in this areas of study: Variance reports and trend analysis for Cash Flow Statements and Income Statements — question-level mapping in progress; the year table above links every official paper.
Characteristics of the study (cross-unit, examinable) · 4 mapped questions
Qualitative characteristics (relevance, faithful representation, comparability, verifiability, timeliness, understandability)
- 2025Study Design 2025–2029 (current)Written examination Q1d3 marksExplanation of the importance of source documents with reference to one qualitative characteristic.Official paper ↗Marking guidance ↗Check tutors for this question →
Financial indicators used to measure profitability, efficiency, liquidity, stability
- 2025Study Design 2025–2029 (current)Written examination Q6a2 marksExplain why a declining Return on Assets over three years should concern an owner.Official paper ↗Marking guidance ↗Check tutors for this question →
- 2025Study Design 2025–2029 (current)Written examination Q6b3 marksExplain how rising sales and faster asset turnover can coexist with a declining Return on Assets.Official paper ↗Marking guidance ↗Check tutors for this question →
Accounting elements (assets, liabilities, owner's equity, revenues, expenses)
- 2025Study Design 2025–2029 (current)Written examination Q6c3 marksExplain how Sales satisfies the definition of the revenue accounting element.Official paper ↗Marking guidance ↗Check tutors for this question →
Also in this areas of study: Accounting assumptions (entity, accrual basis, going concern, period) · Accounting elements (assets, liabilities, owner's equity, revenues, expenses) and current/non-current classification — question-level mapping in progress; the year table above links every official paper.
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