How different is the new study design for accounting.

[1d0tkn0w]

Hi there, I am going to do vce accounting in 2019 but I currently have the 2012 - 2016 Cambridge 3 4 Accounting book. How different is the study design and is it worth learning accounting with a possibly outdated book?

[SubjunctiveQuaver]

The new study design differs mostly in updating the terminology used to fit with the newer Accounting standards, from the looks of the PDF on the VCAA website:
- There are a number of changed ledger account names (Debtors Control is now Accounts Receivable, Stock Loss is now Inventory Loss etc.)
- All transactions seem to be recorded in the General Journal (so there will possibly be no Special Journals)
- Some new things on Doubtful Debts and Bad Debts
- The Accounting Principles and Qualitative Characteristics have changed to the accounting assumptions and new QCs from the new Accounting Framework.
Aside from these, most of the theory and content (balance day adjustments, performance evaluation) should be similar, but overall, expect large changes to how things are named and what "principles" and "qualitative characteristics" to refer to in theory questions. Wouldn't recommend the old book; even though the majority of things are similar, there are a number of differences that I can see.