VCE Accounting Practice Platform

VCAA Study Design 2025–2029 | Units 1–4

Unit 2: Accounting for a Trading Business

How do trading businesses manage inventory, receivables and assets?

School-Assessed Only 32 Skills • 3 Levels Each

Unit 2 Skill Map

Master inventory management, accounts receivable/payable, and non-current assets for a trading business.

Live

AoS 1: Accounting for and Managing Inventory

15 skills

Inventory Recording, Valuation & Management

15 skills ▼

Inventory ConceptsMCQ25530 Cost of InventoryMCQ25531 Inventory Purchases: CashJOURNAL25532 Inventory Purchases: CreditJOURNAL25533 Inventory Sales: CashJOURNAL25534 Inventory Sales: CreditJOURNAL25535 Sales ReturnsJOURNAL25536 Purchase ReturnsJOURNAL25537 Inventory Card: FIFOINVENTORY25538 Inventory Card: Identified CostINVENTORY25539 Comparing FIFO vs Identified CostEXPLAIN25540 Inventory Gain and LossJOURNAL25541 Mark-Up and MarginCALC25542 Inventory TurnoverCALC25543 Managing Inventory PerformanceDISCUSS25544

AoS 2: Accounting for and Managing Receivables & Payables

10 skills

Accounts Receivable, Accounts Payable & Credit Management

10 skills ▼

Accounts Receivable: RecordingJOURNAL25545 Accounts Payable: RecordingJOURNAL25546 Settlement DiscountsJOURNAL25547 Bad DebtsJOURNAL25548 Accounts Receivable TurnoverCALC25549 Accounts Payable TurnoverCALC25550 Internal Controls: AR and APMCQ25551 Credit Policy DecisionsDISCUSS25552 Managing Receivables & PayablesDISCUSS25553 Ethical Considerations: CreditDISCUSS25554

AoS 3: Accounting for and Managing Non-Current Assets

7 skills

Acquisition, Depreciation & Disposal

7 skills ▼

Non-Current Asset AcquisitionJOURNAL25555 Depreciation: Straight-LineJOURNAL25556 Depreciation: Reducing BalanceJOURNAL25557 Comparing Depreciation MethodsEXPLAIN25558 Disposal of Non-Current AssetsJOURNAL25559 Asset Turnover RatioCALC25560 Managing Non-Current AssetsDISCUSS25561