Next SAC ...

It is week 3 as I type this and with the last section of Outcome 1 about to start, I estimate the next SAC will be in week 5 or early week 6.

60 minute SAC.  Manual.  50 marks.

Topics:

• Purchases and sales returns.
• Credit purchase of non current assets.  Includes definition of cost of NCA and concept of sundry creditors.
• Disposal of NCAs.  Cash disposal and trade-ins using sundry creditor.  Reason for profit or loss on disposal.
• Reducing balance depreciation.
• Product costing (new) versus period costing (old).
• NRV and stock write downs.  This includes the lower of cost and NRV rule due to Conservatism.
• Prepaid revenue (service activity like tattooing), prepaid sales and accrued revenue.

Following the Outcome 1 SAC (above) the next SACs are:

• Budgeting SAC.  VCAA directs that this is done on the computer (Excel). Probably 3rd last week of term 3.
• KPIs SAC.  We use Quia to do this.  FIrst week of term 4.

That's it ... until the exam on November 6th.