Accounting

OVERVIEW
Accounting focuses on measuring performance, and processing and communicating financial information about economic sectors. This discipline ensures that ethical behaviour, transparency, and accountability are adhered to. It deals with the logical, systematic and accurate selection and recording of financial information and transactions, as well as the compilation, analysis and interpretation of financial statements and managerial reports for use by interested parties.

OBJECTIVES

By engaging in Accounting, the learners will be able to:

  • Collect, select, record and/or capture, analyse and interpret financial and other relevant data in order to make informed decisions.
  • Develop general and specific skills in accounting to integrate theory and practice and which could be used for compliance with generally accepted accounting practice.
  • Present and/or communicate financial information effectively by using generally accepted accounting practice, developments and legislation.
  • Develop and demonstrate an understanding of fundamental accounting concepts.
  • Acquire skills, knowledge, attitudes and values that can contribute directly or indirectly to the improvement of standard of living, human development and productivity, and create opportunities for all.
  • Relate skills, knowledge and values to real-life situations in order to ensure the balance between theory and practice, to enter the world of work and/or move to higher education, and to encourage self-development.
  • Organise and manage own finances and activities responsibly and effectively.
  • Apply principles to solve problems in a judicious and systematic manner in familiar and unfamiliar situations, thus developing the ability to identify and solve problems.
  • Develop critical, logical, and analytical abilities and thought processes to enable them to apply these skills to current and new situations.
  • Deal confidently with the basic demands of an accounting occupation manually and/or electronically.
  • Develop the necessary characteristics including:
  • – ethics;
  • – sound judgment;
  • – thoroughness;
  • – orderliness;
  • – accuracy; and

SCOPE
The scope of this subject embraces the following features:

  • Financial accounting
  • Managerial accounting- including costing and budgeting
  • Tools in managing resources- including basic internal and external audit process and code of ethics.

ASSESSMENT
Learners are assessed using a variety of techniques such as tests and assignments. Continuous assessment is necessary to ensure that the concepts are practised and acquired.

A shift from the bookkeeping approach to the accounting approach has taken place in the syllabus. The understanding of accounting is thus the favoured type of questioning used in assessments.

ADDITIONAL
 NOTES
A good mark in Grade 9 Economic and Management Science does not necessarily mean that the learner will excel in Accounting. The subject becomes increasingly difficult and each new concept must be fully understood as it forms the basis of the new work. The marks attained in the accounting aspect of EMS will be a good indicator of the learner’s ability to cope with this subject.

A growing demand exists in South Africa for chartered accountants and other professionals in this field. This department strives to prepare the learners for these and other careers in the business world. All opportunities are afforded learners. Field trips and tours allow learners to witness the effects of the financial function in an organisation. Extension of learners is an important facet and this is explored through various competitions and the activities offered through the Bulls and Bears commerce Club.

Accounting is a good basic foundation to several courses at tertiary institutions, including universities, technikons and colleges.