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KZN Accounting Grade 10 – 12 2020 Common Test Scope

KWAZULU NATAL DEPARTMENT OF EDUCATION

FURTHER EDUCATION AND TRAINING

TEACHERS GUIDE

2020 MARCH COMMON TEST (SCOPE)

GRADE 10

SUBJECT ACCOUNTING

PAPER ONE PAPER

DURATION OF THE PAPER 1,5 HOURS

TOTAL MARKS 100

MAXIMUM NUMBER OF QUESTIONS 5

COGNITIVE SKILLS All questions will comprise the following

Basic thinking skills 30%

Moderate thinking skills 40%

Higher order thinking skills 30%

EXPECTED WORK COVERAGE DATE COMPLETED

1. Ethics

1.1 Code of ethics

1.2 Basic principles of ethics

24/01/2020

2. GAAP principles and internal control.

31/01/2020

3. Bookkeeping of a Sole Trader

3.1 Cash Receipts Journal

3.2 Cash Payments Journal

3.3 Debtors Journal and Debtors Allowances Journal

3.4 Creditors Journal and Creditors Allowances Journal

3.5 Petty Cash Journal

3.6 Posting to General Ledger; Debtors’ and Creditors’ Ledger.

3.7 Trial Balance

3.8 Preparation of Debtors’ list and Creditors’ list.

06/03/2020

4. Transaction analysis and effect on accounting equation.

06/03/2020

Downloaded from Stanmorephysics.com


KWAZULU NATAL DEPARTMENT OF EDUCATION FURTHER EDUCATION AND TRAINING

TEACHERS GUIDE 2020 JUNE COMMON TEST (SCOPE)

GRADE 10

SUBJECT ACCOUNTING

PAPER ONE PAPER


TOTAL MARKS 200


COGNITIVE SKILLS: All questions will comprise the following Basic thinking skills 30%; Moderate thinking skills 40%; Higher order thinking skills 30%

EXPECTED WORK COVERAGE

DATE COMPLETED

1. Value Added Tax (VAT)

1.1 Basic Concepts

1.2 Basic/Elementary Calculations

17/04/2020

2. Salaries and Wages Journals

2.1 Explanations, calculations and recording of salaries and wages scales.

2.2 Payments in the Journals.

2.3 Posting to the ledger

2.4 Accounting equation.

2.5 Ethical conduct related to salaries and wages, e.g. contracts, payments

in line with responsibilities, role of unions.

30/04/2020

3. Preparation of Final Accounts of a Sole Trader

3.1 Related concepts.

3.2 Application of GAAP principles.

3.3 Accounting equation.

3.4 Pre-adjustment Trial Balance

3.5 Year-end adjustments

3.6 Post-adjustment Trial Balance

3.7 Closing Transfers

3.8 Trading Account

3.9 Post-closing Trial Balance

3.10 Reversal of some year-end adjustments.

4. Topics covered in Term 1:

22/05/2020



TEACHERS GUIDE 2020 SEPTEMBER COMMON TEST (SCOPE)

GRADE 10 SUBJECT ACCOUNTING

PAPER ONE PAPER DURATION OF THE PAPER 1,5 HOUR

TOTAL MARKS 100 NUMBER OF QUESTIONS 5


EXPECTED WORK COVERAGE/TOPICS DATE COMPLETED

1. Preparation of Financial Statements of a Sole Trader

1.1 Year-end adjustments such as:

1.1.1 Trading stock deficit/surplus.

1.1.2 Consumable stores on hand.

1.1.3 Depreciation (on cost price/ straight line, on diminishing balance

methods).

1.1.4 Bad debts (including receipts from insolvent estates)

1.1.5 Bad debts recovered

1.1.6 Correction of errors/omissions.

1.1.7 Accrued income (receivable).

1.1.8 Income received in advance (deferred).

1.1.9 Expenses prepaid.

1.1.10 Accrued expenses (payable)

1.2 Financial Statements and Notes

1.2.1 Income Statement (Statement of Comprehensive Income)

1.2.2 Balance Sheet Balance Sheet (Statement of Financial Position)

1.2.3 Notes to the Financial Statements

14/08/2020

2. Analysis and interpretation of Financial Statements

2.1 Gross profit on sales

2.2 Gross profit on cost of sales

2.3 Net profit on sales

2.4 Operating expenses on sales

2.5 Operating profit on sales

2.6 Current ratio

2.7 Acid test ratio

2.8 Solvency ratio

2.9 Return on equity

11/09/2020




TEACHERS’ GUIDE 2020 MARCH COMMON TEST (SCOPE)

GRADE 11

SUBJECT ACCOUNTING

PAPER ONE PAPER


TOTAL MARKS 100




1. Reconciliations

1.1 Reconciliation of bank statements with cash journals in order to prepare

bank reconciliation statements.

1.2 Reconciliation of statements received from Creditors with accounts in

Creditors’ Ledger of a business in order to prepare Creditors’

reconciliation statements.

1.3 Integration of internal control.

1.4 Integration of ethical issues.

31/01/2020

2. Tangible/Fixed Assets

2.1 Understanding the concept of a tangible/fixed asset register.

2.2 Recording the acquisition of tangible/fixed assets.

2.3 Calculation and recording of depreciation.

2.4 Understanding how tangible/fixed are recorded when they are fully

depreciated.

2.5 Recording the disposal of tangible/fixed assets (cash, credit, trade-in) at

the beginning, during or at the end of a financial year.



21/02/2020

3. Financial Accounting of Partnerships

3.1 Definition and explanation of accounting concepts unique to Partnership.

3.2 GAAP principles and IFRS

3.3 Accounting cycle of Partnerships.

3.4 Preparation of final accounts of a Partnership taking into account the

year-end adjustments.

3.5 Accounting equation

3.6 Integration of issues of internal control and ethical issues.

13/03/2020




TEACHERS’ GUIDE

2020 JUNE COMMON TEST (SCOPE)

GRADE 11

SUBJECT ACCOUNTING

PAPER ONE

DURATION OF THE PAPER 2 HOURS

TOTAL MARKS 150












depreciated.



21/02/2020


2.1 Definition and explanation of accounting concepts unique to Partnership.

2.2 GAAP principles and IFRS

2.3 Accounting cycle of Partnerships.

2.4 Preparation of final ledger accounts of a Partnership taking into account

the year-end adjustments.

2.5 Accounting equation

2.6 Integration of issues of internal control and ethical issues.

13/03/2020


3.1 Income Statement, Balance Sheet and Notes to Financial Statements.

3.2 Analysis and interpretation of financial statements.

3.3 Ethics, internal control and problem solving

30/04/2020





TEACHERS’ GUIDE


GRADE 11

SUBJECT ACCOUNTING

PAPER TWO


TOTAL MARKS 150







1. Reconciliations

1.1 Reconciliation of bank statements with cash journals in order to prepare

bank reconciliation statements.

1.2 Reconciliation of statements received from Creditors with accounts in

Creditors’ Ledger of a business in order to prepare Creditors’

reconciliation statements.



31/01/2020

2. Manufacturing and Cost Accounting

2.1 Costs calculations in the manufacturing environment.

2.2 Preparation of ledger accounts of a manufacturing business.

2.3 Integration of ethical issues related to a manufacturing environment.

2.4 Integration of internal audit and internal control issues related to a

manufacturing environment.

22/05/2020






depreciated.



3.6 Integration of issues of internal control.


21/02/2020




TEACHERS GUIDE

2020 SEPTEMBER COMMON TEST (SCOPE)

GRADE 11

SUBJECT ACCOUNTING

PAPER ONE PAPER


TOTAL MARKS 100







1. Budgeting

1.1 Preparation and presentation of a Cash Budget for Sole Trader.

1.2 Preparation and presentation of Projected Income Statement.

1.3 Integration of ethics, internal audit and internal control.

31/07/2020

2. Inventory Systems

2.1 Definition and explanation of the perpetual and periodic stock systems.

2.2 Knowledge of the advantages and disadvantages of the periodic and

perpetual stock systems.

2.3 Recording of transactions using the periodic stock system in the

journals and ledgers, comparing it with the perpetual stock system.

21/08/2020

3. Financial Accounting of Nonprofit Organizations (Clubs)

3.1 Definition and explanation of accounting concepts unique to Nonprofit

organizations (Clubs).

3.2 Posting to the ledger e.g.

3.2.1 Accumulated Fund

3.2.2 Membership fees

3.2.3 Entrance fees

3.2.4 Refreshments

3.2.5 Ties/ Blazers/ Badges/ Jerseys

3.3 Preparation of Statement of Receipts and Payments

3.4 Ethics, internal control and problem solving

06/09/2019





TEACHERS GUIDE

2020 MARCH COMMON TEST (SCOPE)

GRADE 12

SUBJECT ACCOUNTING

PAPER ONE PAPER

DURATION OF THE PAPER 1,5 HOUR

TOTAL MARKS 100




1. BOOKKEEPING OF COMPANIES:

1.1 Journal ; Ledger accounts; Trial Balance

1.2 Transactions should include:

1.2.1 Issuing of shares at issue price.

1.2.2 Buying back of shares.

1.2.3 Loans and interest.

1.2.4 Income tax; Dividends; Directors fees; Audit fees

31/01/2020

2. FINANCIAL ACCOUNTING OF COMPANIES

2.1 Concepts


2.3 Preparation of final accounts

2.4 Financial Statements and notes:


2.4.2 Balance Sheet (Statement of Financial Position)

2.4.3 Cash Flow Statement

2.5 Analysis and effect on the Accounting Equation.

2.6 Analysis of a company’s published financial statements and annual

reports comprising Independent Auditors’ Report, together with

additional information relating to governance and the company’s

activities.

2.7 Analysis and interpretation of Income Statement (Statement of

Comprehensive Income), Balance Sheet (Statement of Financial

Position) and Notes.

2.8 Integration of internal control, corporate governance and ethics with all

topics.

13/03/2020




TEACHERS GUIDE


GRADE 12

SUBJECT ACCOUNTING

PAPER 1

DURATION OF THE PAPER 2 HOUR

TOTAL MARKS 150











31/01/2020

2 FINANCIAL ACCOUNTING OF COMPANIES

2.1 Concepts











activities.





topics.

13/03/2020





TEACHERS GUIDE


GRADE 12

SUBJECT ACCOUNTING

PAPER 2


TOTAL MARKS 150







1. INVENTORY SYSTEMS

1.1 Validation, valuation and calculation of inventories of businesses

using the perpetual and periodic inventory systems:

1.1.1 Specific identification (of cost price per unit).

1.1.2 First in, first out (FIFO).

1.1.3 Weighted average.

1.2 Integration of:

1.2.1 GAAP principles relating to inventories.

1.2.2 Integration of ethical issues relating to inventories.

1.2.3 Integration of internal audit and control processes relating to

inventories.

09/04/2020

2. TANGIBLE / FIXED ASSETS

2.1 Interpret and Report on Movements of Tangible / Fixed Assets

2.1.1 Age of assets.

2.1.2 Replacement rate.

2.1.3 Life span of assets

2.2 Integration of:

2.2.1 GAAP Principles

2.2.2 Ethical issues relating to fixed assets

2.2.3 Internal audit & Control processes

17/04/2020



3. COST ACCOUNTING

3.1 Definition and explanation of accounting concepts unique to a

manufacturing business.

3.2 Preparation, presentation, analysis, interpretation and reporting on cost

information for manufacturing enterprises:

3.2.1 Preparation of a production cost statement with notes for

manufacturing costs.

3.2.2 Preparation of a short-form Income Statement with notes

for administration cost and selling &distribution cost.

3.2.3 Calculation of gross profit on finished goods sold.

3.2.4 Calculation of variable and fixed costs.

3.2.5 Calculation of the cost of a product using variable and fixed

costs.

3.2.6 Calculation of cost per unit.

3.2.7 Calculation of contribution per unit.

3.2.8 Calculation of breakeven point.

3.2.9 Calculation of total cost of production.

3.2.10 Integration of Ethical issues relating to manufacturing:

product quality, product age, raw materials, support for

local products, price fixing, theft, fraud, etc. Internal audit

and control processes relating to manufacturing.

08/05/2020

4. RECONCILIATIONS

4.1 Analysis and interpretation of bank, debtors’ and creditors’

reconciliations:

4.1.1 Reconcile creditors’ statements with their personal accounts.

4.1.2 Reconcile debtors’ lists and creditors’ lists with control accounts.

4.1.3 Analyse and interpret debtors’ age analysis.

4.1.4 Analyse and interpret bank statements and bank reconciliation

statements.

4.2 Integration of :

4.2.1 Ethical issues relating to cash, debtors and creditors: payment

periods, interest, credit ratings, fraud, etc.

4.2.2 Audit and internal control issues relating to cash, debtors and

creditors.

22/05/2020





TEACHERS GUIDE


GRADE 12

SUBJECT ACCOUNTING

PAPER 1

DURATION OF THE PAPER 2 HOUR

TOTAL MARKS 150











31/01/2020

2. FINANCIAL ACCOUNTING OF COMPANIES

2.1 Concepts











activities.





topics.

13/03/2020



3.VALUE ADDED TAX (VAT)

3.1 Calculate the amount payable to or receivable from South African Revenue

Services (SARS).

3.2 Completion of the VAT control ledger account from given information

3.3 Integration of ethical issues relating to VAT

3.4 Integration of internal audit and control processes.

17/07/2019





TEACHERS GUIDE


GRADE 12

SUBJECT ACCOUNTING

PAPER 2


TOTAL MARKS 150







1. INVENTORY SYSTEMS

1.1 Validation, valuation and calculation of inventories of businesses

using the perpetual and periodic inventory systems:

1.1.1 Specific identification (of cost price per unit).

1.1.2 First in, first out (FIFO).

1.1.3 Weighted average.


1.2.1 GAAP principles relating to inventories.

1.2.2 Integration of ethical issues relating to inventories.

1.2.3 Integration of internal audit and control processes relating to

inventories.

09/04/2020

2. TANGIBLE / FIXED ASSETS

2.1 Interpret and Report on Movements of Tangible / Fixed Assets

2.1.1 Age of assets.

2.1.2 Replacement rate.

2.1.3 Life span of assets


2.2.1 GAAP Principles

2.2.2 Ethical issues relating to fixed assets

2.2.3 Internal audit & Control processes

17/04/2020



3. COST ACCOUNTING

3.1 Definition and explanation of accounting concepts unique to a

manufacturing business.

3.2 Preparation, presentation, analysis, interpretation and reporting on cost

information for manufacturing enterprises:

3.2.1 Preparation of a production cost statement with notes for

manufacturing costs.

3.2.2 Preparation of a short-form Income Statement with notes

for administration cost and selling &distribution cost.

3.2.3 Calculation of gross profit on finished goods sold.

3.2.4 Calculation of variable and fixed costs.

3.2.5 Calculation of the cost of a product using variable and fixed

costs.

3.2.6 Calculation of cost per unit.

3.2.7 Calculation of contribution per unit.

3.2.8 Calculation of breakeven point.

3.2.9 Calculation of total cost of production.

3.2.10 Integration of Ethical issues relating to manufacturing:

product quality, product age, raw materials, support for

local products, price fixing, theft, fraud, etc. Internal audit

and control processes relating to manufacturing.

08/05/2020

4. RECONCILIATIONS

4.1 Analysis and interpretation of bank, debtors’ and creditors’

reconciliations:

4.1.1 Reconcile creditors’ statements with their personal accounts.

4.1.2 Reconcile debtors’ lists and creditors’ lists with control accounts.

4.1.3 Analyse and interpret debtors’ age analysis.

4.1.4 Analyse and interpret bank statements and bank reconciliation

statements.


4.2.1 Ethical issues relating to cash, debtors and creditors: payment periods, interest, credit ratings, fraud, etc.

4.2.2 Audit and internal control issues relating to cash, debtors and creditors.

22/05/2020




5. BUDGETING

5.1 Analysis, interpretation and comparison of projected income statements for Sole traders or companies.

5.2 Analysis, interpretation and comparison of cash budgets for sole traders or companies.


5.3.1 Ethical issues relating to budgeting and projections.

5.3.2 Internal audit and control processes relating to budgets and

projections by comparing budget to actual figures.

07/08/2020

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