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Accounting 2017-10-18T07:48:20+00:00

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Accounting

Economic Management Science in Grade 9 covers the basics of both Business Studies and Accounting. This gives the learners exposure to both topics as a introductory insight to both these fields which will assist them in choosing subjects for Grade 10.

Topics covered in Grade 9 include

Business Studies component

  • Economic Systems and Economic Sectors
  • Economic Cycle
  • Business Environments
  • Trade Unions
  • Business Functions in the micro environment
  • Business Plans

Accounting component

  • Financial literacy – how to prepare :
    • Cash journal, General ledger, Trial balance, Credit transactions, debtors and creditors ledger, Returns and allowances
  • Financial Statements
  • Analysing financial statements

Accounting is a subject that opens many career options in the job market. The syllabus focuses on ethics in finance, auditing, measuring performance, communicating and analysing information in financial statements to ensure corporate governance principles are adhered to. This is a very relevant and current subject that will be useful in the future of our learners. It is a skill that will prove to beneficial in whatever career they choose. According to IEB regulations learners may only be able to take Accounting if also take Core Maths as a subject and not Maths Literacy.

Topics covered in Grade 10

  • Personal Finances
  • Finances of small businesses
  • Informal businesses
  • Taxation and Value Added Tax
  • Retail businesses
  • Accounting Cycle
  • Credit sales and purchases
  • Salaries & Wages
  • Final Accounts
  • Financial statements
  • Computerised Accounting
  • Management and Financial Accounting
  • Budgets
  • Ethics
  • Objectives, Responsibilities and Control of businesses

Topics covered in Grade 11

  • Bank Reconciliation
  • Fixed Assets and Asset disposal
  • Partnerships
  • Financial Statements of Partnerships
  • Clubs / Non-profit Organisations
  • VAT
  • Costing in a Manufacturing Environment
  • Cash Budgets
  • Inventory Systems
  • Objectives, Control and Auditing of Businesses
  • Business and Ethics

Topics covered in Grade 12

  • Reconciliation of Bank, Debtors and Creditors Accounts
  • Fixed Assets and Inventory
  • Companies
  • Company Financial Reporting
  • Analysis and Interpretation of Company Financial Statements
  • Manufacturing Enterprises
  • Projected Income Statement and Cash Budget
  • VAT
  • Ethics and the role of Professional Bodies