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Accounting grade 10 case study term 3

On behalf of Via Africa we hope you are going to enjoy the journey with us. You will use some of the basic knowledge that you acquired in the senior phase. Our study guide will continue to guide you through your studies step-by- step.

Accounting Grade 10

As you build your knowledge and develop the necessary skills, you accounting grade 10 case study term 3 grow in confidence and find it easy to analyse and interpret the Accounting information. This study guide is filled with lots of different features and offers you many opportunities to practice what you learn. You will also see that throughout the manual you are encouraged to analyse, interpret and reflect on various aspects of Accounting.

The critical outcomes — such as to communicate effectively, to make the right decisions and to behave as a responsible citizen — are woven into the many different activities and assessment opportunities. Study skills for grade 10 learners You constantly need to remind yourself that every exam you complete successfully takes you a step closer to entering your career of your choice.

Good study skills are very important and will assist you in doing well at school. Stay away from the windows and friends. After marking the exercise in class, always check your errors. Why did you make the mistake?

If you do not understand, ask the teacher to help you. Know the theory and how to apply it to all the topics. Write them on a paper and stick it next to the mirror. Know how to apply and interpret the ratios. If a transaction is not recorded, work from the beginning of the year. How do you prepare for a test or exam? Water provides oxygen for your brain, making it more receptive to concentrate and memorise information.

Accounting Grade 10

You need to go back to your teacher to ask questions. You can also ask a friend to help you. Work through the mistakes you have made pencil corrections. Make sure that you do not make the same mistake again. If you are not yet confident that you understand the work, do more exercises.

Memorandum Economics Case Study Task 3

Talk to your friends about general things. Just do what is expected — if not, you are wasting time! Picture yourself in a successful position- but realise that this will never happen if you do not put in the required effort and achieve the best possible marks.

Calculate Find the exact, correct answer. Comment on To make a written remark; especially giving an opinion. Complete Add missing information on the Answer sheet. Contra Opposite account in the General Ledger. Discuss Comment on something in your own words often debating two view points. Example A practical illustration of a concept. Explain Clarify or give reasons for something, usually in your own words. It may be useful to use examples or illustrations.

Extracted Taken from Instalment Amount to be paid every month. Omissions Some information or an entry has been left out. Premium Amount to be paid every month.

Accounting Grade 10

Reversal A cancellation of the original entry. Refer to… Look at additional information in some other part when answering. Reflected Something is shown. Stale cheque A cheque that is older than six months.

State Give required information without discussing it. Curriculum and assessment policy accounting grade 10 case study term 3 CAPS The following section is a summary of important information that you need to know about Accounting.

It will help you to see if you cover all the topics that you need to know. Introduction Accounting 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 you for a variety of career opportunities. Annual teaching plan To prepare for the final examinations, see that you cover all the topics below.

Term Topic Content 1 Informal and Comparison of the bookkeeping systems accounting grade 10 case study term 3 the informal indigenous and formal sectors: Process of determining selling prices, cost of sales, labour costs, income and expenses.

Internal control Definition and explanation of what is meant by internal control. Identification and explanation of basic internal processes. Internal control should be integrated with other topics.

Financial Definition and explanation of accounting concepts up to accounting of a financial statements: Bookkeeping of Accounting cycle based on perpetual inventory system: All transactions affecting a sole trader up to financial statements. This topic needs to be integrated with all the appropriate topics throughout the year. This can be done manually or on a computerised spread sheet. Formal assessment must cater for a range of cognitive levels and abilities of learners as shown below: What does the above mentioned table mean for you?

Let us take the final examination at the end of the year. In each question all the levels must be catered for. You will see people who sell vegetables, sweets, chips, cutting hair, have a Telkom line were people can phone, selling second-hand clothes, etc.

The capital used by these people is limited. They normally start with money that they put in the business for the first day and use the money that they receive for that day to buy stock for the next day.

Their only labour costs will be that they sell enough goods to survive. Their aim is not to make a big profit but to survive every day and to have enough money to buy stock for the next day. All their stock is bought cash and they normally sell for cash.

This type of business normally has little assets. They will maybe have a table that they can sell their goods from and do not have many expenses.

Accounting Grade 10

Use the table below to plan and manage your business. It is essential that the receiver of this message the user of financial information understands it otherwise the information will have no value. In our daily lives various things are repetitive in nature in other words, are always the same, although the results may be different if we react differently in each case.

If we do not have guidelines to guide our actions, our actions may be inconsistent. People may perceive us as unreliable. The same accounting grade 10 case study term 3 to Accounting.

Various transactions are repeated every month and businesses should follow a certain accounting policy in order to ensure that all transactions are consistent.

The Accounting policy is a set of decisions about the way a business deals with the same transactions in order to achieve consistent results. For this reason, there are generally accepted rules. In Accounting we experience the same problem. If each business were recording financial information in their own way, it would result in chaos in the economic world.

Therefore, a system for the measurement and disclosure of the results of financial actions transactions was developed. This system is the general framework of accounting concepts, principles, methods and procedures collectively known as GAAP Generally Accepted Accounting Practice. This will be discussed in 4 in depth. The setting of accounting standards is an effort to manage the available accounting practices and to set uniform and rigid rules applicable to all situations and transactions.

This is to enhance the application of certain standards in financial reporting in order to eliminate undesirable alternatives. We also have to understand enough financial information and accounting to be able to manage our personal finances e. A system of accounting or bookkeeping helps a business to organise its financial data properly. The accounting system that businesses use have been developed so that people understand it, no matter what business they run or where they are in the world.

Memorandum Economics Case Study Task 3

Many activities take place in a formal accounting environment. Accounting accounting grade 10 case study term 3 are divided into the following three groups: Financial accounting Managerial accounting Tools in managing resources Financial accounting Managerial accounting Tools in managing includes the logical, includes concepts such as resources include basic systematic, and accurate costing and budgeting. It internal controls and recording of financial puts emphasis on analysis, internal audit processes transactions as well as the interpretation and and code of ethics.

It put analysis, interpretation communication of financial the emphasis on the and communication of and managerial information knowledge, Financial Statements by for decision- making understanding and understanding the purposes. Activity 2 Compare formal and informal indigenous accounting systems under the headings provided below: This profit is called the mark-up. Every time an item is made manufacturedcosts are added to each step in the process. The cost of the labour for someone who makes the item to be sold.

The cost of labour for someone who is not directly involved with the making of the product such as the wages for a person who helps to clean up, or for a person who helps you to sell your beaded jewellery or an accountant.