2019 School Magazine

YEAR 11 ACCOUNTING A ccounting has provided Year 11 girls with the opportunity to try a new subject and broaden our horizons for future tertiary endeavours. This has been an enriching experience, which has taught us the primary skills of accounting and managing a business. InTerm 1, we were introduced to the foundations of accounting, predominantly the basic skills used to classify accounts and produce financial reports. In Term 2, we focused on the Goods and Services Tax and subsidiary ledgers, and their implications on a business. We finished Unit 2 of Year 11 in Semester 2, where we learned the accounting process for the end of the financial period. We also participated in an excursion around the School to find out the meaning of ‘Plant’, in the asset classification ‘Property, Plant and Equipment’. Accounting assessments incorporate three key components; Part A: short response (theory); Part B: practical; and Part C: extended response involving analysis, evaluation and communication. Next year, for the first time, the School will offer Accounting to Year 10 students. Overall, Accounting has provided us with the confidence and skills to leave school with a deeper understanding of the work of professional accountants and especially, the role of accounting within a business. We look forward to pursuing accounting in our final year at Girls Grammar. Abbey Grice (11E) and Chloe Lee (11O)

YEAR 12 ACCOUNTING Y ear 12 Accounting has been one our most rewarding classroom experiences at Girls Grammar. Using the fundamental knowledge we learned in Year 11 Accounting, we have extended our understanding and application of these skills throughout the year. We have studied a variety of topics including MYOB and inventories, occupational fraud, end-of-period reports, cash budgets, spreadsheet design, analysis of financial reports and construction of statements of cash flows from information in other financial reports. Through these topics, we have strengthened our skills in analysis, evaluation and interpretation which are critical components in our other subjects.

We have used a diverse range of learning techniques including on campus ‘excursions’ and exploration of real accounting stories from current news events. We particularly enjoyed learning through these real-life examples to understand how the basic principles of accounting we learn in the classroom are applicable and relevant in the real world. 12.1 Accounting

YEAR 11 ECONOMICS A s an introduction to Economics, we learned the basics of economic flow and market forces such as the price mechanism. This involved exploring the mechanics of supply and demand, and how the two factors influence resource allocation. As a result, we developed an understanding of fundamental economic concepts that remained relevant throughout the year. In Term 2, we examined market efficiency and learned to identify market failures and their causes. We explored real-life markets, such as Australia’s labour market, to grasp how undesirable outcomes may result due to multiple factors. Following this, we evaluated these outcomes in terms of efficiency and equity, and explored possible solutions to these issues. Our final topic addressed youth unemployment and underemployment, including its causes, effects and possible solutions. This entailed more complexity, as we considered the ethics behind the current opportunities and outcomes for disadvantaged youth. The topic allowed girls to broaden their knowledge on the youth labour market and how we, as young Australians, may be impacted by the current economic environment. These topics allowed us to strengthen our knowledge of economics and the dynamics of our own economy. Overall, Economics has been beneficial to my understanding of the world. Indrani Bose (11O)

YEAR 12 ECONOMICS E conomics is an enjoyable and challenging subject where the theory learned is applicable to the current economic and political climate. In Term 1, we began discussing macroeconomics, an expansive and interesting field of economic study. In this unit we learned about the business cycle, desirable features of an economy, and the multiplier effect on national income. We also explored and analysed the impacts of changing interest rates on the Australian housing market. In Term 2, we discussed the complex issue of income and wealth inequality.This was a fascinating termof learning where we investigated causes of the current income and wealth disparity in Australia, and evaluated solutions to the issue. In Term 3, we explored international trade and the multiple trade theories, benefits of international trade, trade patterns and exchange rates. This topic was particularly applicable to the international economic climate given the ongoing trade tensions between the United States of America and China. In Term 4, students conducted independent research on an economic issue of their choice. Each girl was able to explore their own unique interests with topics ranging from the economic effects of Brexit to energy policies that address climate change. Ela Noble (12M)

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