Question 1

What is NCEA AS 91175 about?

Accepted Answer

You need to show you understand how to use accounting software to record everyday business transactions correctly. This means setting up accounts properly and entering sales, purchases, cash movements, and other typical day-to-day entries. To do well, you'll also need to handle unusual transactions and errors; to do really well, you need to manage complex entries like asset depreciation and disposal.

Question 2

What do students need to do for AS 91175?

Accepted Answer

1. Set up an appropriate chart of accounts with the right accounts for inventory, cost of goods sold, and sales for each product 2. Process frequent transactions including cash receipts, cash payments, and both cash and credit sales and purchases across three different inventory items 3. Process infrequent transactions such as returns, sundry charges, drawings of goods, inventory losses, asset purchases, and error corrections 4. Use the banking or payment function to split a total amount across more than one account 5. Calculate and process depreciation entries and asset disposals, including handling where an asset sells for more or less than its book value

Question 3

What's the difference between Achieved, Merit, and Excellence for AS 91175?

Accepted Answer

Achieved: You correctly set up accounts and accurately enter frequent day-to-day transactions like sales, purchases, and cash movements for multiple inventory items. Merit: You handle both frequent and infrequent transactions properly—including returns, asset purchases, and corrections—and your account structure clearly separates inventory, cost of goods sold, and sales accounts. Excellence: You process all transaction types including complex depreciation and disposal entries, correctly split banking totals across accounts, and manage errors affecting multiple accounts (like GST entries in wrong accounts).

Question 4

What mistakes do students typically make in AS 91175?

Accepted Answer

1. Not setting up enough accounts or failing to separate inventory, cost of goods sold, and sales accounts properly by product type 2. Incorrectly processing infrequent transactions like returns, inventory losses, or error corrections 3. Mishandling depreciation calculations or asset disposal entries, especially when assets are sold for more or less than their book value

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