Accounting

Staff

Subject Head
Mr Hannes Roelofse
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Mr Allan Miles
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Mr Neil Bielby
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Overview

This subject involves identifying, measuring and recording of events that will influence a businesses financial position and profit. This subject is designed to develop the logical thought process of the students. Accounting also involves the processing, communication, interpretation and the use of information in accordance to Generally Accepted Accounting Principles (GAAP).

Accounting teaches students the study of the different financial aspects of a business. In brief, it entails keeping track of money, which comes into and goes out of a business and how to make a business more effective and successful.

Accounting students, learn how to balance the books and learn the links between business and finances. Ways in which to reduce errors, ethics and fraud and the facts of how banks and other financial institutions operate are also taught.

Accounting is already introduced to the students in Grade 9, as part of the Economic and Management Sciences syllabus. This gives the students a better idea of what the subject entails before the subject choice for Grade 10 is made.

 

Aims

Develop the student’s knowledge, skills, values, attitudes and ability to make meaningful and informed personal and collaborative financial decisions in economic and social environments.
Develop critical, logical, and analytical abilities and thought processes to enable them to apply these skills to current and new situations.
Develop the necessary characteristics including ethics, sound judgment, thoroughness and orderliness


Homework

Homework will be set as often as possible, every day if necessary. Accounting requires a lot of practice and students must be kept busy. Grade 12 Accounting students will also be expected to complete old Examination questions as part of their revision on work previously covered, while exemplars provided by the Education Department should also be worked through as part of revision. Any homework not done should be followed up and punished suitably by the teacher concerned.



Grade 10 Information

Curriculum

Define and explain accounting concepts for sole trader up to financial statements
Within the context of the accounting cycle. Identify and complete source documents, record the information in the subsidiary journals, post to the ledgers and draw up the trial balance of a sole trader annually and/or by using an accounting package
Anayse and show the effects of transactions on the accounting equation of sole traders
Prepare final accounts and financial statements of a sole trader
Explain basic VAT concepts
Distinguish between financial and managerial accounting
Identify basic cost concepts
Explain basic budget concepts
Interview persons who are using informal or indigenous bookkeeping systems to gather all information
Explain salary and wages scales and different contributions, and record in the subsidiary journals and ledger
Discuss the perpetual inventory system, record transactions in the subsidiary journals and post to the ledgers
Explain the code of ethics as it applies mutually in an accountable and transparent way to all parties in the financial environment
Demonstrate knowledge of internal control processes


Tests and Forms of Assessment

Term 1      2 standardised class tests; 1 presentation task
Term 2      1 standardised class test; 1 June Examination; 1 project
Term 3      2 standardised class tests; 1 task
Term 4      1 November Examination


Examinations

Examinations are written in June and November (both set internally and marked internally)

 
Textbooks

A logical approach, Grade 10
A workbook for this textbook is available from Pickwick Books



Grade 11 Information

Curriculum

Define and explain accounting concepts for partnerships and non-profit organizations
Within the context of the accounting cycle, record the unique information of a partnership and a club
Anayse and show the effects of transactions on the accounting equation o partnerships and clubs
Prepare a bank reconciliation statement
Prepare and interpret final accounts and financial statements of a partnership and a club
Prepare elementary VAT calculations
Apply costing principles and cost behaviour in a manufacturing environment
Prepare and present, a cash budget for a sole trader
Calculate and record depreciation, the acquisition and disposal of assets
Record transactions in the subsidiary journals and ledgers utilizing the periodic inventory system, and compare it with the perpetual inventory system
Identify and analyse ethical behaviour applicable to the financial environment with reference to accountability and transparency
Demonstrate knowledge of internal audit process


Tests and forms of Assessment

Term 1 2 standardised class tests; 1 presentation task
Term 2 1 standardised class test; 1 June Examination; 1 project
Term 3 2 standardised class tests; 1 task
Term 4 1 November Examination


Examinations

Examinations are written in June (internal) and November (set externally marked internally)


Textbooks

A Logical Approach, Grade 11
A workbook for this textbook is available from Pickwick Books



Grade 12 Information

Curriculum

Define and explain accounting concepts for manufacturing enterprises, close corporations and companies
Within the context of the accounting cycle, record the unique information for a company and close corporation
Anayse and interpret the influence of transactions on the accounting equation of close corporations and companies
Analyse and interpret bank, debtors and creditors reconciliations
Prepare final accounts and financial statements, analyse and interpret the financial statements of a close corporation and a company
Analyse published financial statements and audit reports of companies
Apply the principles of VAT in different situations
Prepare, present, analyse and report on cost information for a manufacturing enterprise by compiling a production cost statement
Analyse and interpret projected income statements and a cash budget for sole traders
Interpret and report on asset disposal
Validate and calculate inventories with specific references to the different inventory valuation methods
Discuss disciplinary and punitive measures to be applied for non-compliance to the code of ethics and the role of professional bodies
Apply internal control and internal audit process in a business environment


Tests and Forms of Assessment

Term 1 2 Standardised class tests; 1 presentation task
Term 2 1 Standardised class test; 1 June Examination; 1 project
Term 3 2 Standardised class tests; 1 task
Term 4 1 November Examination


Examinations

Examinations are written in June (internal), September (set externally but marked internally) and November (set and marked externally)


Textbooks

New Era, Grade 12
Workbooks for each of these textbooks are available from Pickwick Books

 

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