Topical Accounting Issues AS 91481 – Accounting 2.5 Presented by Elizabeth Pitu.

Topical Accounting Issues

AS 91481 – Accounting 2.5

Presented by Elizabeth Pitu

Purpose

Achievement 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 issues

• explore and analyse people’s values and perspectives

• consider the ways in which people make decisions and participate in social action

• reflect on and evaluate the understandings they have developed and the responses that may be required. Source NZC page 30

AS 91481 Demonstrate understanding of a topical accounting issue for decision making

Achievement Achievement with Merit

Achievement with Excellence

Demonstrate 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.

Focus on decision-making

• The focus of this standard is on decision-making, ie the factors the entity takes into account when making a decision

• An actual decision is not required

Unpacking Excellence• Demonstrate 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

entity– justifying how and why the issue affects

decision-making by the entity– drawing a conclusion that justifies the

importance of the issue to the entity’s decision-making.

Topical accounting issues

• A 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-making

• The issue will have importance to the decision-making of the entity

Entities

• The CoA list a wide range of possible entities including individuals/whanau, schools, community organisations, councils, businesses

• In selecting an entity consider student engagement with the issue and the entity

• Give students a choice

Student as the entity

• Student loans for example are highly relevant for most students planning tertiary study

• Stay at home/go away for tertiary study is another issue relevant to students which can be explored

Sustainability

• Any entity can be chosen• Sustainability 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 savings

Example Going solar• A 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.

Sustainable business considerations

A Māori perspective

• Kaitiakitanga and Iwi treaty settlements of land and/or money and/or other assets

• Geothermal partnerships between local Māori and Mighty River Power or Contact Energy

• Tainui’s plans for an inland port and 50 year development at Ruakura

Thank you

• Please feel free to email me if you have any questions about this session:

[email protected]• I trust you have learned something.

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