Via Afrika Accounting
lives of learners. We can either impact positively ornegatively on their lives. That’s why I try, at all times,to respect the dignity of learners and believe inthem on their behalf, even if they don’t believein themselves.Grade 10 Teacher’s GuideTeachers have a very formative influence on theThe accompanying Learner’s Book is written in accessible language and contains all the content your learners need to master.The exciting design and layout will keep their interest and make teaching a pleasure for you.We would love to hear your feedback. Why not tell us how it’s going by emailing us at accounting@viaafrika.com?Alternatively, visit our teacher forum at www.viaafrika.com.Language: Englishwww.viaafrika.comVia Afrika Accounting1. The series was written to be aligned with CAPS. See page 4 to see how CAPS requirements are met.2. A possible work schedule has been included. See page 9 to see how much time this could save you.3. Each topic starts with an overview of what is taught, and the resources you need. See page 19 to find out how this willhelp with your planning.4. There is advice on pace-setting to assist you in completing all the work for the year on time. Page 20 shows you how thisis done.5. Advice on how to introduce concepts and scaffold learning is given for every topic. See page 25 for an example.6. All the answers have been given to save you time doing the exercises yourself. See page 20 onwards for examples.7. Also included are a full-colour poster and a CD filled with resources to assist you in your teaching and assessment. Seethe inside front cover.Grade 10 Study GuideP.Bean, M.Kleyn, D.P. Ntintili, N.V. Kapela, N. Singh, E. Havenga,J.M. Magaba, M.M. Ramashala, C.S.F. Trollip, D.K. Flynn— Shaun Paulsen, TeacherVia Afrika understands, values and supports your role as a teacher. You have the most important job in education, and werealise that your responsibilities involve far more than just teaching. We have done our utmost to save you time and makeyour life easier, and we are very proud to be able to help you teach this subject successfully. Here are just some of the thingswe have done to assist you in this brand-new course:Via AfrikaAccounting
Study GuideVia Afrika AccountingGrade 10Our Teachers. Our Future.
S tu d y G u i d eAccountingGrade 10Via Afrika Publishers » Accounting Grade 10
ContentsGeneral Introduction . 1Introduction to Subject . 1Term 1Topic 1 Informal or indigenous bookkeeping systems . 12Overview . 121 Concepts and management of resources . 122 Determining prices . 17Topic 2 Ethics . 19Overview . 191 Code of Ethics . 192 Basic principles of ethics. 19Topic 3 Accounting principles . 24Overview . 241 Accounting policy . 242 Definition and explanation of GAAP principles . 26Topic 4 Internal control . 29Overview . 291 Definition and explanation of internal control . 292 Internal control processes . 30Topic 5 Financial accounting of a sole trader . 35Overview . 351 Definitions and explanations of concepts . 352 Bookkeeping of a sole trader . 423 Accounting equation . 113Via Afrika Publishers » Accounting Grade 10
Term 2Topic 1 Value added tax. 133Overview . 1331 Introducing Value-added tax . 1332 Basic VAT concepts . 134Topic 2 Salaries and wages journal . 138Overview . 1381 Glossary . 1382 Salaries . 1393 Wages . 1414 Deductions . 1425 Summary and analysis . 155Topic 3 Financial accounting of a sole trader- year-end adjustments . 157Overview . 1571 Closing transfers . 1572 Year – end adjustments . 160Term 3Topic 1 Financial accounting of a sole trader- preparation of financial statements. 186Overview . 1861 Introduction to Financial statements . 1862 Format of Financial statements . 187Topic 2 Financial accounting of a sole trader- analysis and interpretation offinancial statements . 199Overview . 1991 Introduction to concepts. . 1992 Ratios. 200Topic 3 Cost accounting . 212Overview . 2121 Introduction to cost accounting concepts. 212Via Afrika Publishers » Accounting Grade 10
Term 4Topic 1 Budgeting . 217Overview . 2171 Introduction to budgeting . 2172 Budgeting concepts . 2183 Cash budget . 219Topic 2 Revision. 2271 Exam papers (June) . 2272 Exam papers (November) .239Answers to questions . 257Answers to exam papers . 314Via Afrika Publishers » Accounting Grade 10
Introduction to AccountingDear LearnerWelcome to Grade 10. On behalf of Via Africa we hope you are going to enjoy thejourney with us. You will use some of the basic knowledge that you acquired in thesenior phase. Our study guide will continue to guide you through your studies step-bystep. As you build your knowledge and develop the necessary skills, you will grow inconfidence and find it easy to analyse and interpret the Accounting information.This study guide is filled with lots of different features and offers you manyopportunities to practice what you learn. You will also see that throughout the manualyou are encouraged to analyse, interpret and reflect on various aspects of Accounting.The critical outcomes – such as to communicate effectively, to make the right decisionsand to behave as a responsible citizen – are woven into the many different activities andassessment opportunities.Study skills for grade 10 learnersYou constantly need to remind yourself that every exam you complete successfullytakes you a step closer to entering your career of your choice. Good study skills are veryimportant and will assist you in doing well at school.1 What can I do to improve my concentration?In class Go sit at the place in the class where you concentrate best. Stay away from thewindows and friends.Make notes while the teacher teaches the class (especially with new concepts),do the example with the teacher and work out the calculations with the teacherwhile he/she is explaining. This will force you to concentrate, you won’t getbored so easily and you will remember the work much better.Get actively involved in the lesson. Ask questions if you don’t understand.Listen critically what the teacher says.Think: “Do I understand what the teacher is saying?”Ask yourself the following: “Can it be true?”‘What does he/she mean?”“Is that the only solution?”Via Afrika Publishers » Accounting Grade 101
If the teacher gives you homework, start doing it so you can ask questions if youdon’t understand.Make sure what you have to do for homework.At home Work through the example that the teacher did with you in the class.Read through your homework to see what is expected from you to do.Do your homework. Write down if there are concepts or part of the work that youdon’t understand that you can ask the teacher to help you with. Don’t give up.Phone a friend who understands the work if you don’t understand something(not to chat, but to help you).2 Studying at home to prepare for a test or examCreate a study environment Find a quiet place for studying.Tool-up the environment with all study needs.Create a work atmosphere – avoid relaxing while working.When to study Best when there are the least competing activities in progress.Best when rest periods are provided.Stop studying when fatigue or lack of concentration occurs.How to study and concentrate Set study goals before you begin for each period of study (number of pages,number of activities, etc.).Build a variety of subjects and interest into your study programme to removeboredom.Plan the length of your study period by the amount of material you have decidedto cover, not by the clock (often the clock is one of the most serious distracters).Don’t try to mix work and play.Via Afrika Publishers » Accounting Grade 102
3 Accounting study tipsGeneral tips It is important that you do your homework every day – don’t copy.See every exercise as part of your preparation for the test/exam.Do your homework in pen and mark in pencil. After marking the exercise inclass, always check your errors. Why did you make the mistake? If you do notunderstand, ask the teacher to help you.Know all the formats! You can’t do any exercise if you do not know the formats.Internal control (auditing) and ethics must be integrated with all the topics.Know the theory and how to apply it to all the topics.Know all the formulas and ratios. Write them on a paper and stick it next to themirror. Learn a few every day so when the test/exam comes, you will know yourformulas and ratios. Know how to apply and interpret the ratios.In a calculation in accounting, always start at 100% - you either have to subtractor add.In the Financial Statements, if a transaction is recorded during the financialyear, work from the end of the financial year. If a transaction is not recorded,work from the beginning of the year.Always work from the known to the unknown.How do you prepare for a test or exam? Drink lots of water while you study. Water provides oxygen for your brain,making it more receptive to concentrate and memorise information.Always get a good night’s sleep before an exam – 8 hours of sleep.Do not start the day before you write the test/exam. You need to go back to yourteacher to ask questions. You can also ask a friend to help you.Go back to all the exercises that you have done on a specific topic. Work throughthe mistakes you have made (pencil corrections). Make sure that you do notmake the same mistake again.Choose an exercise or question from a previous year’s paper and work throughthe exercise/question. If you are not yet confident that you understand the work,do more exercises. If you are confident with a topic, go to the next topic (don’twaste time if you understand something).Via Afrika Publishers » Accounting Grade 103
When you write an exam Have a good breakfast before you go to school.Don’t let anybody ask you questions about the work just before you are going towrite – it might confuse you! Talk to your friends about general things.Stick to the time limits for each question.Read each question carefully. Just do what is expected – if not, you are wastingtime!Hold on to your dreams/ ambitions/ hopes for the future: Picture yourself in asuccessful position- but realise that this will never happen if you do not put in therequired effort and achieve the best possible marks. Dates are very important.Start a topic you feel confident with – you don’t have to start with question 1.Apply your knowledge – the format of the question may be different to whatyou’ve been taught.Show all your calculations.REMEMBER YOUR CALCULATOR!4 Accounting examination conceptsConceptExplanationAnalyseIdentify parts/elements of a concept describe one by one.CalculateFind the exact, correct answer.Comment onTo make a written remark; especially giving an opinion.ComparePoint out similarities AND differences between ideas/points of view.CompleteAdd missing information on the Answer sheet.ContraaccountOpposite account in the General Ledger.DetermineTo find the value/answer to certain givens. Generally by calculation.DefineGive precise meaning of/word for word.DemonstrateProve your understanding by giving examples/applied to real lifesituations.DiscussComment on something in your own words (often debating two viewpoints).EvaluateJudge something/express an opinion, using certain criteria.ExampleA practical illustration of a concept.ExplainClarify or give reasons for something, usually in your own words. YouVia Afrika Publishers » Accounting Grade 104
must prove that you understand the content. It may be useful to useexamples or illustrations.ExtractedTaken fromInstalmentAmount to be paid every month.OmissionsSome information or an entry has been left out.PremiumAmount to be paid every month.ReversalA cancellation of the original entry.Refer to Look at additional information in some other part when answering.ReflectedSomething is shown.Stale chequeA cheque that is older than six months.StateGive required information without discussing it.Your ownopinionAnything relevant/intelligent, within the limits of universal truths willbe given credit, but always SUBSTANTIATE, fully.Curriculum and assessment policy statement (CAPS)The following section is a summary of important information that you need to knowabout Accounting. Read it carefully before you prepare for tests/examinations. It willhelp you to see if you cover all the topics that you need to know.IntroductionAccounting encompasses accounting knowledge, skills and values that focus on thefinancial accounting, managerial accounting and auditing fields. These fields cover abroad spectrum of accounting concepts and skills to prepare you for a variety of careeropportunities.Via Afrika Publishers » Accounting Grade 105
The table below indicates the main topics in the Accounting curriculum.Weighting ofCurriculumTopicFinancial Accounting(weighting 50% to 60%)Accounting conceptsGAAP principlesBookkeepingAccounting equationFinal accounts and financial statementsSalaries and wagesValue-Added TaxReconciliationsManagerial Accounting(weighting 20% to 25%)Cost accountingManaging Resources(weighting 20% to 25%)Indigenous bookkeeping systemsBudgetingFixed assetsInventoryEthicsInternal controlWhat does weighting mean?At the end of the year (final exams), the paper will consist of financial accounting(between 50% to 60%), managerial accounting (between 20% to 25%) and managingresources (between 20% to 25%).Annual teaching planTo prepare for the final examinations, see that you cover all the topics below.TermTopicContent1Informal andindigenousbookkeepingsystemsComparison of the bookkeeping systems of the informaland formal sectors: ConceptsManagement of resources (capital, fixed assets,stock, etc.)Process of determining selling prices, cost of sales,labour costs, income and expenses.Via Afrika Publishers » Accounting Grade 106
EthicsExplanation of the code of ethics applicable to all partiesin the financial environment: Code of ethicsBasic principles of ethics (leadership, discipline,transparency, accountability, fairness,sustainability, responsible management)Ethics should be integrated with other topics.GAAPDefinition and explanation of Generally AcceptedAccounting Practice (GAAP) principles: Historical costPrudenceMaterialityBusiness entity ruleGoing concernMatchingApply to all the relevant topics and link to topic 1 and 2.Internal controlDefinition and explanation of what is meant by internalcontrol.Identification and explanation of basic internalprocesses.Internal control should be integrated with other topics.Financialaccounting of asole traderDefinition and explanation of accounting concepts up tofinancial statements: Sole trader, Debit, Credit, Equity,Capital, Assets, Liabilities, Ledger, Journal, Loss, ValueAdded Tax, Income/Revenue, Expenses, Final accounts,Financial Statements, Discounts, Accounting cycle,Financial accounting, Managerial accounting, PerpetualInventory System.Bookkeeping ofa sole traderAccounting cycle based on perpetual inventory system: Revision of Grade 9 contentSource documentsPrinciples of double entry systemJournals- Cash Receipts Journal & Cash Paym
Via Afrika Publishers » Accounting Grade 10 2 If the teacher gives you homework, start doing it so you can ask questions if you don’t understand. Make sure what you have to do for homework. At home Work through the example that the teacher did with you in the class. Read through your homework to see what is expected from you to do. Do your homework.
FINANCIAL ACCOUNTING : MEANING, NATURE AND ROLE OF ACCOUNTING STRUCTURE 1.0 Objective 1.1 Introduction 1.2 Origin and Growth of Accounting 1.3 Meaning of Accounting 1.4 Distinction between Book-Keeping and Accounting 1.5 Distinction between Accounting and Accountancy 1.6 Nature of Accounting 1.7 Objectives of Accounting 1.8 Users of Accounting Information 1.9 Branches of Accounting 1.10 Role .
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