Managing Income: US 24697

This resource helps students to understand gross and net pay, what affects net pay and how to know that net pay is accurate. It can also be used by teachers to deliver the Financial Capability Unit Standard 24697 ‘Perform income-related calculations for personal finances’ (Level 1, 2 Credits).

Level 1, Credits 2
15-20 hrs

Mathematics and Statistics

Social Sciences

Level 1 Financial Capability Unit Standard

Free to NZ schools
Led by teachers Training Available
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The last date for assessment for the old versions of the unit standards was 31 December 2022. You should now be using the new standards. Therefore, the existing versions of our resources are now obsolete. The new resources for this assessment is ready to download.
Resources and assessments for most of the other unit standards are available from Sorted in Schools.

Curriculum links

Financial Capability is a core generic domain on the New Zealand Qualifications Framework. This unit of work also has links to the Social Sciences and Mathematics and Statistics learning areas.

Students will:

  • Learn how to calculate gross income in different time periods.
  • Learn about factors that affect net pay
  • Calculate deductions from gross income
  • Determine the accuracy of net pay and correct inaccuracies
  • Complete practice activities for an assessment

For access to the assessment and marking guidelines for this Unit Standard please email us at:

Download includes:

  • Using Financial Capability Unit Standards
  • Interactive Student Workbook
  • Helpful information