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SACE Accounting exam 2026Exam: Thu 5 Nov · SACE Board timetable

Your SACE Accounting exam:

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When and how long

  • Accounting1.30 pm start2 h 10 min

SACE Board: morning exams start at 9 am and afternoon exams at 1.30 pm, South Australian time (8 am and 12.30 pm in the Northern Territory). Some subjects have additional time for reading only; schools get day-by-day instructions at the start of Term 4. Language exams run earlier in October.

Source: SACE examinations timetable 2026 (SACE Board), checked Wednesday 23 September 2026. Where a start time, reading time or duration isn't shown, the timetable doesn't publish it: check your personal timetable and the front of your paper.

What the exam covers

We don't have past-paper frequency data for this exam, so here is the course, module by module. Make sure every module is covered.

Night-before and exam-morning checklists

The night before

  • Morning exams start at 9 am and afternoon exams at 1.30 pm, South Australian time.[1]
  • Some subjects have extra time for reading only: check the day-by-day instructions your school gets at the start of Term 4.[1]
  • Some exams are electronic: check with your school how yours runs.[1]
  • Pack your equipment the night before, set two alarms and sleep.[2]

Exam morning

  • Eat a real breakfast and arrive early.[2]
  • Leave your phone and other electronic devices outside the exam room.[2]
  1. SACE Board: examinations timetable 2026
  2. Our exam-day guides (HSC, VCE, QCE)

Exam-week survival kit: The last 7 days · The night before and exam morning · What to bring, and what's banned · How to use reading time · If you're sick or something goes wrong · Handling exam-week stress.

Last-week revision

SACE Accounting cram sheet

Key formulas, definitions and facts copied from our Accounting syllabus pages. One page when printed.

Topic 1: Preparing and Presenting Accounting Information

Periodic cost of goods sold

COGS=Opening inventory+Purchases−Closing inventory\text{COGS} = \text{Opening inventory} + \text{Purchases} - \text{Closing inventory}

From: Inventory: Perpetual, Periodic and FIFO

Assets: increase = debit, decrease = credit

From: The Accounting Equation and Double-Entry
Journal format
  • Date, then account debited (with its dollar amount in the debit column)
  • Account credited, indented, with its amount in the credit column
  • A short narration in brackets explaining the source document
From: Recording Transactions: Journals and Ledgers
GST from an inclusive amount

GST=GST-inclusive total×111\text{GST} = \text{GST-inclusive total} \times \frac{1}{11}

GST-exclusive price=GST-inclusive total×1011\text{GST-exclusive price} = \text{GST-inclusive total} \times \frac{10}{11}

From: GST and Source Documents

Topic 2: Analysing and Interpreting Financial Information

Horizontal analysis

Percentage change=Current year−Base yearBase year×100\text{Percentage change} = \frac{\text{Current year} - \text{Base year}}{\text{Base year}} \times 100

From: Horizontal, Vertical and Trend Analysis
The three lenses of interpretation
  • Trend analysis: the same measure across several periods to reveal direction (improving or deteriorating).
  • Benchmarking: comparison against industry averages, competitors, or budgeted targets.
  • Inter-relationship: reading profitability, liquidity and efficiency together rather than in isolation.
From: Interpreting Financial Performance
Efficiency ratios

Inventory turnover (times)=Cost of goods soldAverage inventory\text{Inventory turnover (times)} = \frac{\text{Cost of goods sold}}{\text{Average inventory}}

Debtors collection period (days)=Average debtorsNet credit sales×365\text{Debtors collection period (days)} = \frac{\text{Average debtors}}{\text{Net credit sales}} \times 365

From: Efficiency and Financial Stability Ratios
Profitability ratios

Gross Profit Margin=Gross ProfitNet Sales×100Gross\ Profit\ Margin = \frac{Gross\ Profit}{Net\ Sales} \times 100

Net Profit Margin=Net ProfitNet Sales×100Net\ Profit\ Margin = \frac{Net\ Profit}{Net\ Sales} \times 100

Return on Owner′s Equity=Net ProfitAverage Owner′s Equity×100Return\ on\ Owner's\ Equity = \frac{Net\ Profit}{Average\ Owner's\ Equity} \times 100

From: Ratio Analysis: Profitability and Liquidity

Topic 3: Decision Making for a Business

Profit to operating cash flow

Operating cash=Net profit+Depreciation−Increase in debtors−Increase in inventory+Increase in creditors\text{Operating cash} = \text{Net profit} + \text{Depreciation} - \text{Increase in debtors} - \text{Increase in inventory} + \text{Increase in creditors}

From: Profit Versus Cash Flow
Contribution margin

Contribution margin per unit=Selling price per unit−Variable cost per unit\text{Contribution margin per unit} = \text{Selling price per unit} - \text{Variable cost per unit}

Once total contribution covers all fixed costs, every further unit's contribution becomes profit.

From: Cost-Volume-Profit Analysis
Cash budget relationship

Closing cash balance=Opening cash balance+Cash receipts−Cash payments\text{Closing cash balance} = \text{Opening cash balance} + \text{Cash receipts} - \text{Cash payments}

The closing balance of one period becomes the opening balance of the next. A negative closing balance signals a cash shortfall that must be funded.

From: Budgeting and Cash Flow Management

Topic 4: Applying Accounting Concepts

Accounting entity versus legal entity

The accounting entity is the unit whose transactions are recorded separately for reporting. The legal entity is whether the law recognises the business as a person distinct from its owners. A company is both; a sole trader is an accounting entity but not a separate legal entity.

From: Business Entities and the Regulatory Framework
Materiality

An item is material if omitting or misstating it could influence a user's decision. Immaterial items can be treated in the simplest practical way (for example, expensing a cheap stapler rather than depreciating it).

From: Accounting Principles and Ethics
A structure for application questions
  1. Identify the issue or decision in the scenario.
  2. Select the relevant concept, principle, ratio or calculation.
  3. Apply it accurately to the figures given.
  4. Interpret the result in the context of the business.
  5. Recommend a decision and justify it, noting limitations.
From: Applying Concepts to New Situations

Exam date and time from the official SACE Board 2026 timetable, checked Wednesday 23 September 2026. Not affiliated with SACE Board; always confirm with your personal timetable.

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