ACCOUNTING
The course covers the following topics over the three year period:
| Grade 10 | Grade 11 | Grade 12 |
| Accounting equation | Partnerships | Manufacturing enterprises |
| Accounting standards | Non-profit organisations | Production cost statements |
| Journals and General Ledger | Bank reconciliation | Companies |
| Financial statements | Salaries and wages | Close Corporations |
| Basic VAT concepts | Disposal of assets | Cash Flow statements |
| Manufacturing costs | Periodic inventory | Budgets |
| Basic budget concepts | Internal auditing | |
| Code of ethics | Analysis and interpretation | |
| Internal control |
The above table is simplistic and a very broad overview. There is considerable overlap and continuity between the Grades and work covered in the lower Grades is incorporated into, and assessed throughout the course.
Pupils who are considering taking Accounting as a subject must begin with the course at the beginning of Grade 10. Pupils will not be allowed to start Accounting at a later stage due to the ‘building blocks’ nature of the subject. Pupils with a sound mathematical ability and who are competent in the English language will be at a clear advantage.
School Accounting is aimed at two groups of pupils: those who are going to continue studying the subject in tertiary studies and those who are not. Those who are planning to study BComm, B Bus Sci, B Econ or any business/marketing courses at tertiary level, would be well advised to do the subject at school.
The Accounting syllabus covered at school is based on the practices and principles as applied in the real world. The syllabus is also very much in line with the first year course at university and it makes good sense to be on familiar ground for at least one subject in a typical first year BComm scenario which includes Economics, Commercial Law and Statistics. The use of Accounting computer packages, at an elementary level, will be incorporated in the course with effect from 2008.
For the pupil who is not going on to do a business degree or diploma, financial literacy is equally important. Financial literacy is required in every professional career, and most forecasters are adamant that our children will end up in small businesses in as yet unmapped fields, where knowledge of the subject is vital.
Kelly Long to represent South Africa 25th January 2012
Kelly Long will represent South Africa at the 5th International Sustainable World Project Olympiad in the USA
