WACE Accounting and Finance

Subscribing to ReviseOnline WACE Accounting & Finance course (Units 1&2 and Units 3&4) gives you access to an extensive range of revision material, which can deliver a significant boost to your ATAR score. WACE Accounting & Finance is designed to give the student a better understanding that financial literacy and the decisions made have far reaching consequences for individuals and business. Both courses (Units 1-4) cover financial concepts, decisions, systems and analysis, with differing levels of complexity and emphasis, from cashflow to governmental fiscal policies.

Using only WA Curriculum specific assessment material, students use ReviseOnline to develop skills to more effectively articulate responses and manage time pressure, leading to less stress and higher scores.

Users of ReviseOnline Accounting and Finance will receive:


Topic tests

Exam builders

Full exams

Year 11 (Unit 1&2)




Year 12 (Unit 3&4)




Structure of assessments

  • Topic tests - 10 Multiple Choice (10 marks), 2 Short Answers (50 marks). Suggested time 55 min each

  • Exam builders - 15 Multiple Choice (15 marks), 3 Short Answers (80 marks), 1 Extended Answer (30 marks). Suggested time 2hr each

  • Full exams - 15 Multiple Choice (15 marks), 5 Short Answers (142 marks), 2 Extended Answer (60 marks). Suggested time 3hr each

Marking keys

Each test or exam also comes complete with sample answers and WACE style marking keys. Multiple choice is automatically marked for you.

Topic areas covered:

Year 11 (Unit 1&2)

Year 12 (Unit 3&4)

Balance day adjustments, depreciation and sale of assets

Analysing corporate financial statements

Classified financial statements, ratio analysis, electronic processing & professional associations

Capital Investment Techniques, Business Planning and Master Budget

General journal & ledger, trial balance & perpetual inventory system

Company Formation, Profit Determination and General Purpose Financial Statements

Introduction to business, financial institutions, GST & fundamental principles

Cost accounting

Profit determination, internal control, social and economic responsibility

Cost Volume Profit Analysis


General Purpose Financial Statements – Statement of Cash Flows


Introduction to financial management


Operating and financial budgets


The Conceptual Framework, Business regulation, Corporations and Social Disclosure