UniGeniusVCE Accounting

Independent preparation for VCE Accounting Units 3 and 4. Not affiliated with or endorsed by the Victorian Curriculum and Assessment Authority (VCAA).

VCE Accounting, Units 3 and 4.

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Question 1 · Short question · Inventory2 marks

Inventory

On 30 June 2026 Lorikeet Lighting counted its inventory and checked two lines against net realisable value.

Line A: 8 heaters with water damage, cost $150 each. After repairs costing $35 each they can be sold for $160 each (excluding GST), and a sales commission of $10 is paid on each one sold.

Line B: 5 display fans, cost $90 each, expected to sell for $120 each (excluding GST), with a sales commission of $12 each.

What is the total inventory write-down at 30 June 2026? (2 marks)

Four areas, one examination

Built for VCE Accounting Units 3 and 4 on the study design accredited from 2025: all four areas of study, from recording and analysing financial data to budgeting and decision-making, for a sole trader's trading business. Not built for Units 1 and 2 or for School-assessed Coursework.

  1. Unit 3, Area of Study 1

    Recording and analysing financial data

    • The accounting framework
    • Recording transactions
    • Inventory
    • Receivables, payables and control

  2. Unit 3, Area of Study 2

    Preparing and interpreting accounting reports

    • Balancing and closing the ledger
    • Classified accounting reports
    • Evaluating performance

  3. Unit 4, Area of Study 1

    Extension of recording and reporting

    • Non-current assets and depreciation
    • Balance day adjustments

  4. Unit 4, Area of Study 2

    Budgeting and decision-making

    • Budgeted reports
    • Variance reports and decision-making
Time15 minutes reading, 2 hours writing
Marks100, all compulsory
Weight50% of the study score

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