Commerce covers three separate subjects Business Studies, Accounting and Economics. At Rangiora New Life School students are able to study Business Studies at Year 10, Commerce at Year 11 and Accounting and Economics at Year 12 and 13.
Year 10 Business Studies explores both personal finances and the business world. Students explore personal finance topics like budgeting, taxation, investing and borrowing. In Business Studies students are able to explore the place of business in the economy and the role of business in sustainability. Students have an opportunity to plan, market, produce and sell a product to the school on Market Day.
In the senior school Commerce focuses on Accounting and Economics. Accounting is the process of preparing and communicating financial information to assist decision-makers to make relevant accurate and timely decisions. Economics is the study of how people as individuals and groups satisfy their wants by allocating and managing scarce resources.
Year 11 Commerce provides students with the opportunity to study both Accounting and Economics. In Accounting students complete the processing standard where they learn about the rules and process of recording financial transactions of a small business. Economics provides students with the opportunity to explore the interdependence of the different sectors in the New Zealand economy. The supply and demand economic model is used to explore consumer, producer and government choices and their impact on the price of goods.
Year 12 Accounting focuses on the subsystems of small business. Students use accounting software either Xero or MYOB to process the financial transactions of a small business. The external standards for Level 2 Accounting focus on the preparation and interpretation of financial statements.
Year 13 Accounting covers three areas of accounting, management accounting, accounting for partnerships and accounting for companies. Students analyses the annual report of a New Zealand company.
Year 12 Economics focuses on the use of economic models to explain economic issues like inflation, economic growth and unemployment and their impact on the New Zealand economy. Students explore relevant New Zealand government policies and the economic issue they attempt to address.
Year 13 Economics uses economic models to explore both micro-economic and macro-economic topics. Students may use micro- economic concepts and models to explore topics like the increase in diary production in New Zealand. They may use macro-economic concepts and models to explore