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Accounting System


Effect on ledger accounts:
A/C Increase Decrease
Asset (A) Debit Credit
Liability (L) Credit Debit
Owner’s Equity (OE) Credit Debit
Revenue (R) Credit Debit
Expenses (E) Debit Credit
(See below for notes on: Journals, Ledgers, Trial Balance, Balance Day Adjustments, Accounting Reports, Evaluation of reports, Budgeting for future).


Source Documents:


[Used as verification for a transaction. It ensures reliability.]


Cash Receipt: Used to record inflow of cash.


Cheque Butt: Provides details of cash outflows.


Invoice: Document used to communicate creation of debt when a credit transaction has taken place. Specifically, sales invoice provides details of a credit sale, and a purchase inv...

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Hi all,


Congratulations on finishing the Unit 3 VCE Accounting exam for 2012.


What did you think of the paper? What was hard? What was easy? How do you think you went?


Let us know your thoughts and comments below (please keep them clean - all comments are moderated!)…cheers

Hi all,


By now, you should have finished the Unit 3 VCE Accounting exam for 2010. What did you think of the paper? What was hard? What was easy? How do you think you went?


Let us know your thoughts and comments below (please keep them clean!)…cheers

Hi all


I know many of you are starting to get prepared for the upcoming VCE exams. Well done for being proactive in your approach to get on top of your study!


One of the most important ways to help your vce exam preparation along is to learn from the insights of teachers with vce exam assessing experience. That can be from a variety of sources including your current teachers, attending vce exam revision programs or even reading the Chief assessor reports from past VCE exams alongside the respective past VCAA exam paper.


Learning from past vce exams and these reports gives you an insight into the style of questions being asked, areas of difficulty on the exam, the format of the exam and the reso...

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Here is a list of VCE Art resources that may give you some ideas - if you know of any additional resources please comment below.


Season Of Excellence http://www.vcaa.vic.edu.au/excellenceawards/seasonofexcellence/index.html


This link takes you through to the Season Of Excellence Main Page at the VCAA. Includes links to previous years work, application forms for this year, and links to Top Arts, Top Designs and much more. Worth the look.


General Arts Links


ABC Arts http://arts.abc.net.au


Art Education Victoria http://www.aev.vic.edu.au


Art in Context http://www.artincontext.com


Conservation of Photographs & Works on Paper http://www.paulmessier.com


Masters of Photography


http://www.masters-of-photogra...

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Hi all,


With the Unit 3 exams and the GAT around the corner I thought it would be timely to remind you all of some key resources that you can find on the VCAA website to help you with your VCE exam preparation.


1. VCAA exam timetable - duh...no kidding...of course you can find when the exam is on here with the timetable.


2. VCE exams navigator - you should have received a hard copy of this from school but it is a very detailed document which outlines everything from examination hall rules, to equipment you can bring in, etc, etc. Very important and very useful...


3. Copy of last years GAT (found here) -I have written about the GAT and the importance about it previously but it is in your best int...

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Sorry for the delay in getting this up guys - congrats one and all for finishing off VCE Accounting.


WooHoo! How was the paper? What was hard or easy?


Please let us know your thoughts below. Please be respectful and keep your comments clean.


Cheers, Heath

Hi all,


Congratulations on finishing the Unit 3 VCE Accounting exam for 2011. What did you think of the paper? What was hard? What was easy? How do you think you went?


Let us know your thoughts and comments below (please keep them clean!)…cheers

Hi all,


By now, you should have finished the Unit 4 Accounting exam for 2010. What did you think of the paper? What was hard? What was easy? How do you think you went?


Let us know your thoughts and comments below (please keep them clean!)…cheers

Hi all,


So...you have finished the VCE Accounting Unit 4 exam for 2009.


What did you think of the paper? What was hard? What was easy? How do you think you went?


Let me know your thoughts and comments below (please keep them clean!)…cheers

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