Assessment and exam practice.

Try this with Accounting

1. Check the task format, time limit and permitted materials with your school.
2. Start with one timed section or task and record where you spent the most time.
3. Review errors before attempting another section. Separate missing knowledge from timing problems.

View Accounting resources on ATARMAXXING ↗

Practice paper focus areas

• Exam 1 — Recording: double-entry journals, subsidiary records, GST Clearing, perpetual FIFO inventory (Units 3); Reporting: classified Income Statement, classified Balance Sheet, Cash Flow Statement (direct method); Balance-day adjustments: prepaid/accrued items, straight-line & reducing-balance depreciation, disposal of non-current assets, bad debts & provision for doubtful debts
• Exam 2 — Recording: double-entry journals, perpetual FIFO inventory, GST Clearing, source documents (tax invoices); Reporting: classified Income Statement, classified Balance Sheet, Cash Flow / cash budget, accounting equation; Balance-day adjustments: prepaid & accrued items, straight-line & reducing-balance depreciation, disposal of non-current assets, bad & doubtful debts
• Exam 3 — Unit 3 recording — source documents, double-entry journals, GST Clearing and FIFO perpetual inventory; Unit 3 & 4 reporting — classified Income Statement, Balance Sheet and Cash Flow Statement (direct method); Unit 4 balance-day adjustments — high prepaid advertising, accrued expenses and accrued revenue under the accrual assumption
• Exam 4 — Recording: double-entry general/specialised journals, GST Clearing, perpetual inventory (FIFO), ledger posting and balancing; Balance-day adjustments: prepaid and accrued expenses, straight-line and reducing-balance depreciation, disposal of non-current assets; Accounting for bad debts and the provision for doubtful debts (net realisable value of Accounts Receivable)
• Exam 5 — Recording: double-entry journals (general & specialised), GST Clearing treatment, FIFO perpetual inventory, drawings of inventory, settlement discount with GST adjustment; Balance-day adjustments: prepaid & accrued expenses, reducing-balance vs straight-line depreciation, bad debts and Allowance for Doubtful Debts; Disposal of non-current assets: carrying value, loss/profit on disposal, GST on sale of a depreciating asset
• Exam 6 — Unit 3 recording: FIFO perpetual inventory, specialised & general journals, GST Clearing treatment, cost of sales; Unit 4 balance-day adjustments: prepaid & accrued items, straight-line & reducing-balance depreciation, disposal of non-current assets, bad and doubtful debts; Reporting: classified Income Statement, classified Balance Sheet satisfying the accounting equation, Cash Flow Statement (direct method)
• Exam 7 — FIFO perpetual inventory recording and seasonal inventory write-down to net realisable value; Credit sales with GST, and balance-day adjustments for bad debts and a provision for doubtful debts; Depreciation (reducing-balance and straight-line) and disposal of a non-current asset
• Exam 8 — Unit 3 recording: source documents, double-entry general/specialised journals, GST Clearing, and a perpetual FIFO inventory card; Unit 3 reporting: classified Income Statement (trading format), classified Balance Sheet satisfying Assets = Liabilities + Owner's Equity, and Cash Flow Statement (direct method); Unit 4 balance-day adjustments: prepaid and accrued expenses/revenues, straight-line and reducing-balance depreciation, disposal of a non-current asset by trade-in, and bad and doubtful debts
• Exam 9 — Perpetual FIFO inventory recording and reconciling records to a physical stocktake (inventory loss/gain, write-down); Balance-day adjustments: prepaid and accrued expenses, straight-line and reducing-balance depreciation; General Journal, ledger and disposal of a non-current asset with correct GST treatment
• Exam 10 — Recording: perpetual FIFO inventory, specialised & general journals, GST Clearing, subsidiary/control accounts (Units 3); Reporting: classified Income Statement, classified Balance Sheet satisfying A = L + OE, Cash Flow Statement (direct method); Balance-day adjustments: prepaid/accrued expenses & revenues, straight-line & reducing-balance depreciation, disposal of a non-current asset, bad & doubtful debts / provision
• Exam 11 — Recording: double-entry journals, subsidiary/specialised journals, General Ledger and GST Clearing (Unit 3); Perpetual inventory using FIFO cost assignment (Unit 3); Balance-day adjustments: prepaid/accrued items, straight-line & reducing-balance depreciation, disposal of non-current assets, bad and doubtful debts (Unit 4)
• Exam 12 — Unit 3 recording — perpetual FIFO inventory, double-entry journals and GST Clearing from source documents; Unit 3 reporting — classified Income Statement and Balance Sheet satisfying the accounting equation; Unit 4 balance-day adjustments — prepaid/accrued items, doubtful debts, reducing-balance depreciation and disposal of a non-current asset
• Exam 13 — Recording: general-journal entries from source documents with correct GST Clearing treatment (credit purchase, cash sale under perpetual inventory, capital contribution, creditor payment with discount received); Perpetual inventory using FIFO cost assignment — inventory card, cost of sales and closing balance; Balance-day adjustments: prepaid expense, accrued wages, increase in Allowance for Doubtful Debts, accrued interest, and their effect on the accounting equation
• Exam 14 — Recording: credit purchases with GST Clearing, FIFO perpetual inventory cards, subsidiary and general journals (Unit 3); Balance-day adjustments: prepaid & accrued expenses, straight-line and reducing-balance depreciation, disposal of non-current assets, bad and doubtful debts (Unit 4); Reporting: classified Income Statement, classified Balance Sheet satisfying A = L + OE, Cash Flow Statement (direct method)
• Exam 15 — Unit 3 recording: FIFO perpetual inventory with foreign-exchange and freight costs embedded in landed cost, credit purchase and sale journals, GST Clearing; Unit 4 balance-day adjustments: prepaid insurance, accrued wages, accrued interest revenue, reducing-balance depreciation and their General Ledger effect; Unit 4 disposal of a non-current asset: straight-line depreciation to date of disposal, carrying value, trade-in, loss on disposal, GST, journals and Disposal ledger account
• Exam 16 — Recording under the double-entry system: specialised & general journals, GST Clearing, perpetual inventory (FIFO), General Ledger posting and balancing; Balance-day adjustments: prepaid & accrued items, straight-line & reducing-balance depreciation, disposal of non-current assets, bad debts and the Allowance for Doubtful Debts; Reporting: classified Income Statement, classified Balance Sheet (Assets = Liabilities + Owner's Equity), and Cash Flow / cash-budget construction under the direct method
• Exam 17 — Recording under the double-entry system with GST Clearing and FIFO perpetual inventory (purchases, credit sales, inventory card); Reporting: classified Income Statement, classified Balance Sheet (accounting equation) and Cash Flow Statement (direct method) for a sole-trader trading business; Balance-day adjustments: prepaid and accrued expenses, and the provision for doubtful debts, under the accrual assumption and matching
• Exam 18 — Recording: primary source documents, specialised/general journals, double-entry, GST Clearing, settlement discount; Perpetual inventory using FIFO cost assignment; inventory card, cost of sales, gross profit; Balance-day adjustments: reducing-balance depreciation and disposal of a non-current asset
• Exam 19 — Recording: FIFO perpetual inventory, GST Clearing, double-entry journals & ledgers, disposal of non-current assets; Reporting: classified Income Statement, classified Balance Sheet (accounting equation), Cash Flow Statement (direct method); Balance-day adjustments: prepaid/accrued items, straight-line & reducing-balance depreciation, bad & doubtful debts
• Exam 20 — Recording: opening entries, double-entry general & specialised journals, GST Clearing, perpetual inventory (FIFO), subsidiary records; Reporting: classified Income Statement, classified Balance Sheet (accounting equation), Cash Flow Statement (direct method); Balance-day adjustments: prepaid & accrued expenses/revenues, straight-line & reducing-balance depreciation, disposal of non-current assets, bad debts & provision for doubtful debts