Accounting

This subject covers a range of areas and includes Accounting knowledge, skills and values -focusing on the financial, managerial and auditing fields to meet the requirements of a multicultural and democratic environment. 

Topics Covered:

Financial Accounting and Information

• • Accounting concepts for a sole trader up to financial statements

  • Accounting equation

  • Final accounts and financial statements of a sole trader

  • Basic VAT concepts – developed in grades 11 and 12

  • Forms of ownership are also covered in 11 and 12

  • Bank reconciliation – in 11 and 12

Managerial Accounting

• • Distinguish between financial and managerial accounting

  • Identify basic cost concepts

  • Budget concepts are studied in all three grades

  • Manufacturing enterprises are discussed in grades 11 and 12

  • Projected income statements in grade 12

Managing Resources

• • Interview people using informal bookkeeping systems to gather all information

  • Salary/wage scales and different contributions, and record in journals and ledger

  • Inventory systems are studied over all three years

  • Fixed assets

  • Ethics and auditing process

  • Internal control processes