Subject: Accounting

Subject Description:

Accounting focuses on measuring performance and processing and communicating financial information about economic sectors. This discipline ensures that principles such as ethical behaviour, transparency, and accountability are adhered to.
Accounting as subject deals with the logical, systematic, and accurate selection and recording of financial information and transactions, as well as the compilation, analysis, interpretation, and communication of financial statements and managerial reports for use by interested parties. The subject encompasses accounting knowledge, skills, and values that focus on the Financial Accounting, Managerial Accounting, and Auditing fields. These fields cover a broad spectrum of accounting concepts and skills to prepare students for a variety of career opportunities.

Value of Accounting as subject:

Apart from learning skills that all employers expect of all employees - problem solving, critical thinking, organisation, accuracy, integrity, business ethics, and technology – students also learn personal applications in Accounting, such as: budgeting, investing, taxes, and banking. Careers in Accounting include: Auditor, Forensic Accountant, Tax Attorney, Accounting Clerk, Actuarial Accountant, Budget Analyst, Cost Accountant, Tax Consultant.

Skills/Content Carried over from Grade 10-12:

Mathematics is a subject that builds on the foundations laid in the grade before.
It is therefore very important for students to make sure they understand all the concepts taught and that they can apply previous knowledge to new problems.

• Record, analyse and interpret financial and other relevant data in order to make informed decisions • Present and communicate financial information effectively by using generally accepted accounting practices in line with current developments and legislation • Develop and demonstrate an understanding of fundamental accounting concepts • Relate skills, knowledge, and values to real-world situations in order to ensure the balance between theory and practice, to enter the world of work and to move to higher education, and to encourage self-development • Organise and manage own finances and activities responsibly and effectively • Apply principles to solve problems in a judicious and systematic manner in familiar and unfamiliar situations, thus developing the ability to identify and solve problems in the context of the various accounting fields • Develop critical, logical, and analytical abilities and thought processes in order to apply skills to current and new situations • Develop the following characteristics: ethical behaviour, sound judgement, thoroughness, orderliness, accuracy, and neatness • Deal confidently with the demands of an accounting occupation manually and electronically

Grade 10 Curriculum

Grade 11 Curriculum

Grade 12 Curriculum

Indigenous bookkeeping

Reconciliations

Ethics and Internal controls

Introduction to Ethics

Fixed assets

Companies: unique transactions

GAAP principles

Partnerships: adjustments, General Ledger, Accounting equation, final accounts, financial statements

Companies: Final accounts, financial statements and notes (Income Statement, Balance Sheet, Cash Flow Statement)

Introduction to internal control

Partnerships: analysis and interpretation

Companies: Analysis and interpretation

Bookkeeping of sole trader: recording of cash transactions (CRJ, CPJ, PCJ); General Ledger, Trial Balance; Accounting Equation

Cost Accounting: calculations, General Ledger

Companies: Analysis of published financial statements and audit reports

Bookkeeping of sole trader: recording of credit: transactions (DJ, DAJ, CJ, CAJ, GJ); Ledgers, Debtors’ and Creditors’ lists, Trial Balance; Accounting Equation

Budgeting: Projected Income Statement, debtors’ collection, creditors’ payments, Cash Budget

Fixed assets

Bookkeeping of sole trader: recording of cash and credit transactions (combined)

Inventory systems

Inventory systems

VAT

Value Added Tax (VAT)

Reconciliations

Salaries and wages

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Value Added Tax (VAT)

Final Accounts

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Cost Accounting: Production Cost Statement with notes Trading and Profit and Loss Statement, unit costs, break-even

Sole trader: year-end adjustments, General Ledger including Final Accounts Section, Trial Balances

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Financial statements

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Sole trader Adjustments, closing transfers, General Ledger, Income Statement, Balance Sheet, Notes to financial statements

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Analysis and interpretation of financial statements and notes

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Cost accounting: manufacturing concepts

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Budgeting

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Grade 9 Requirements:

While there are no specific requirements for Accounting, it is important that students are aware of the rigour and intensity of the subject. Students who want to take Accounting should achieve at least 50% for English and 60% for Accounting in Grade 9.

Stationary Requirements:

  • Grade 10

  • Grade 11

  • Grade 12

Stationery required

  • Textbook and a workbook – R500 (prices may vary)
  • Arch lever file (to file slides issued as additional notes)
  • File (to file all formal assessments)
  • Calculator (should be available in all lessons)
  • A blue ink pen, pencil, eraser, and a 30cm ruler (should be available in all lessons)

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