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AccountingCAPSTeacher’s GuideElsabé Conradie Derek Kirsch Mandy MoyceSM Accounting 10 TG 220x297 CAPS ENG.indd 1Grade102011/11/08 9:51 AM
Study & MasterAccountingGrade 10Teacher’s GuideElsabé Conradie Derek Kirsch Mandy MoyceCAPS Acc 10 TG.indb 111/3/11 1:23 PM
cambridge university pressCambridge, New York, Melbourne, Madrid, Cape Town,Singapore, São Paulo, Delhi, Tokyo, Mexico CityCambridge University PressThe Water Club, Beach Road, Granger Bay, Cape Town 8005, South Africawww.cup.co.za Cambridge University Press 2012This publication is in copyright. Subject to statutory exceptionand to the provisions of relevant collective licensing agreements,no reproduction of any part may take place without the writtenpermission of Cambridge University Press.First published 2012ISBN 978-1-107-38072-1Editor: Christine de NobregaTypesetter: Laura Brecher.notice to teachersThe photocopy masters in this publication may be photocopied ordistributed [electronically] free of charge for classroom use within theschool or institution which purchases the publication. Worksheets andcopies of them remain in the copyright of Cambridge University Pressand such copies may not be distributed or used in any way outside thepurchasing institution.If you want to know more about this book or any other Cambridge University Presspublication, phone us at 27 21 4127800, fax us at 27 21 419-8418 or send ane-mail to capetown@cambridge.orgAcc SEC1 Introduction.indd 22011/11/08 8:29 AM
ContentsSection 1 Introduction 1Section 2 Planning 9Annual Teaching Plan 9Daily Teaching Plan 11Section 3 Assessment tasks 231. Presentations/reports 232. Tests 313. Projects 454. Examinations 785. Case studies 81Section 4 Notes/tips for teachers 95Section 5 Powerpoint Section 6 Solutions to activities 111Chapter 1: Indigenous bookkeeping and informal businesses 111Chapter 2: Ethics 113Chapter 3: GAAP principles 115Chapter 4: Internal controls 115Chapter 5: Financial accounting of a sole trader 118Chapter 6: Bookkeeping of a sole trader – Revision of Grade 9 content 122Chapter 7: Bookkeeping of a sole trader – Debtors 139Chapter 8: Bookkeeping of a sole trader – Creditors 151Chapter 9: Bookkeeping of a sole trader– Additional cash transactions and the Petty Cash Journal 164Chapter 10: Bookkeeping of a sole trader – The General Journal 191Chapter 11: Reconciliation of control accountsand Debtors and Creditors Lists 207Chapter 12: Combined bookkeeping activities 212Chapter 13: Value-added tax (VAT) 228Chapter 14: Salaries and wages 231Chapter 15: Financial accounting of a sole trader– Final accounts and year-end adjustments 248Chapter 16: Financial accounting of a sole trader – Financial statements 300Chapter 17: Financial accounting of a sole trader– Interpretation of financial statements 319Chapter 18: Cost Accounting 325Chapter 19: Budgeting 329Chapter 20: Revision activities 331Section 7 Moderation templates 343Section 8 Documents 351CAPS Acc 10 TG.indb 311/3/11 1:23 PM
SECTION 1INTRODUCTION1. Subject objectivesIt is essential that learners be made aware of the importance of Accounting andits relevant application in modern-day career choices where entrepreneurialskills are so vitally important. There should also be a concerted effort tonurture an interest and passion for this subject in every learner.Every learner should have their individual talents and abilities taken intoaccount so that this interest may be developed to each one’s own full potential.When teaching this subject, the following objectives should be achieved: To link the learners’ prior knowledge to the new subject content throughprogression To approach the content in a meaningful manner with sufficient referenceto real-life situations To present the content in such a way that learners understand the content,rather than just memorise subject matter To use a variety of presentation strategies To keep regular control over written work and to ensure that meaningfulevaluations take place To provide regular homework tasks so that learners can consolidate andrevise their work in this manner.Moreover, it is our aim to convey to learners the knowledge and skills thatwill provide an appropriate basis from which to build a successful career orcontinue their studies in this subject area, so these three exercise books areadequate.2. Books and portfolios2.1 Exercise booksWe recommend that learners should acquire the following exercise books forGrade 10 Accounting: A General Ledger An eight-column journal A three-column cash book.A workbook is available in which all the columns for each activity are alreadydrawn, and which will save considerable time, but not all learners will be ableto afford this, so these three exercise books are adequate.2.2 Learner portfoliosA B4 envelope will serve the purpose of a learner’s portfolio very well. Ittakes up very little space in the classroom, is inexpensive and ensures that theassessment tasks of every learner are available for moderation in class in anordered manner. The following information needs to appear on front of theenvelope: name and surname of the learner; grade and section; learning areaand grade; and subject teacher.The portfolio also needs to contain the following divisions: Content/intervention page with statement of authenticity Control tests1CAPS Acc 10 TG.indb 111/3/11 1:23 PM
ExaminationsCase studies/presentationsProjectInformal assessments.2.3 Intervention with learnersIf a learner is repeatedly performing poorly or is creating problems, his or herparents or caregivers need to be contacted. Any interaction with the parentsshould be via letter or telephone. A record needs to be kept of all interactionand has to be forwarded to the relevant grade supervisor.You should try to be available for extra classes for at least one hour per week– carefully record this as learner intervention.The portfolios should never leave the classroom – the same applies to theworksheets once they have been placed in the portfolio. After every test orCASS activity, the learner intervention sheet (front page of the portfolio)needs to be sent to the parents for signature – this is to keep parentscontinually informed of the learner’s marks. Any intervention with theparent/learner should also be recorded on this sheet, if the parent shouldvisit you during a parent evening.2.4 Teacher portfoliosThis portfolio should contain the following: Front page with relevant information Table of contents Subject guidelines Teacher timetable Mark sheets (the following information has to be indicated: subject/learning area, grade, learner’s name and marks, date of completion forformal task, assessment sheet/subject of task/maximum mark that can beachieved) Assessment programmes Yearly planner and daily planner Proof of moderation (internal and external) Policy documents (NCS, NPA, Progression and promotion requirements) Sections for the following:Accounting: Control tests, examinations, case studies, written reports,projects, informal assessmentsThe assessment matrix for both the exam paper and the markingmemorandum should be included with each section. Learner information and interaction with parents/intervention Departmental information and circulars (Continuous AssessmentGuidelines document and Learning Areas/Subject guidelines) Memoranda of subject meetings.3. What is Accounting?From CAPS documentAccounting focuses on measuring performance and processing andcommunicating financial information about economic sectors. Thediscipline ensures that principles such as ethical behaviour, transparencyand accountability are adhered to. It deals with the logical, systematic andaccurate selection and recording of financial information and transactions,as well as the compilation, analysis, interpretation and communication offinancial statements and managerial reports for use by interested parties.2CAPS Acc 10 TG.indb 2SECTION 1 INTRODUCTION11/3/11 1:23 PM
The subject encompasses accounting knowledge, skills and values with thefocus on the financial accounting, managerial accounting and auditing fields.These fields cover a broad spectrum of accounting concepts and skills toprepare learners for a variety of career opportunities.The table below indicates the main topics in the Accounting curriculum.CurriculumTopicFinancialaccounting1. Accounting concepts (terminology, definitions, doubleentry, and so on)2. GAAP principles3. Bookkeeping (source documents, journals, ledgers,Trial Balances, and so on)4. Accounting equation5. Final accounts and financial statements (includingadjustments and ratios)6. Salaries and wages7. Value-added tax (VAT)8. Reconciliations (bank, debtors and creditors)Managerialaccounting9. Cost accounting (manufacturing, and so on)Managingresources11. Indigenous bookkeeping (Grade 10 only)10. Budgeting12. Fixed assets13. Inventory14. Ethics15. Controls4. The purpose of AccountingFrom CAPS documentAccounting learners will be able to: record, analyse and interpret financial and other relevant data in order tomake informed decisions present and/or communicate financial information effectively by usingGenerally Accepted Accounting Practices (GAAP) in line with currentdevelopments and legislation develop and demonstrate an understanding of fundamental accountingconcepts relate skills, knowledge and values to real-life situations in order to ensurethe balance between theory and practice, in order to enter the worldof work and/or to move to higher education, and to encourage selfdevelopment organise and manage their own finances and activities responsiblyand effectively apply principles to solve problems in a judicious and systematic manner infamiliar and unfamiliar situations, thus developing the ability to identify andsolve problems in the context of the various fields of Accounting develop critical, logical and analytical abilities and thought processes toenable learners to apply skills to current and new situations develop the following characteristics:– ethical behaviour– sound judgement– thoroughnessSECTION 1 INTRODUCTIONCAPS Acc 10 TG.indb 3311/3/11 1:23 PM
– orderliness– accuracy– neatness deal confidently with the demands of an accounting occupation manuallyand/or electronically.5. Time allocation for Accounting on the timetableFrom CAPS documentThe teaching time for Accounting is 4 hours per week per grade on thetimetable, that is, for Grades 10, 11 and 12.6. Requirements to offer Accounting as a subjectFrom CAPS documentIt is the responsibility of the school to provide the resources needed to offerAccounting as a subject.6.1 Each learner should have:6.1.1 A textbook6.1.2 Accounting stationery or a workbook6.1.3 A calculator.6.2 The teacher should have:6.2.1 A variety of textbooks to be used as references6.2.2 Policies, for example a summary of the King Code III6.2.3 A partnership agreement6.2.4 Legislation, for example Companies Act No. 71 of 20086.2.5 Codes of professional bodies, for example SAICA and SAIPACodes6.2.6 SARS brochures6.2.7 Bank brochures6.2.8 Access to a computer and the Internet.7. Overview and progression of topicsTOPICGrade 10Grade 11Grade 12IndigenousbookkeepingsystemsComparison of bookkeepingsystems of the informal andformal sectorsNoneNoneEthicsCode of ethics and basic principlesof ethics for businessesIdentification and analysis ofethical behaviour applicableto financial environments withreference to accountability,transparency and sustainability Role of professional bodies foraccountants Disciplinary and punitivemeasures for non-compliancewith code of conduct Policies governing ethicalbehaviour, viz. King Code III Basic principles of theCompanies ActGAAP principlesApplicable to sole tradersApplicable to partnerships andnon-profit organisations (clubs)Applicable to companiesInternal controlBasic internal control processesDemonstration of knowledgeof internal audit processes, viz.division of duties, documentation,physical controls and internalaudit Application of internal controland internal audit processes in abusiness environment Understanding of the differencebetween the roles of internaland external auditorsAccountingconceptsConcepts related to sole tradersConcepts related to partnershipsand clubsConcepts related to companiesand manufacturersBookkeepingBookkeeping process for soletradersUnique entries and accounts forpartnerships and clubsUnique entries and accounts forcompanies4CAPS Acc 10 TG.indb 4SECTION 1 INTRODUCTION11/3/11 1:23 PM
TOPICGrade 10Grade 11Grade 12ReconciliationsPreparation of debtors andcreditors lists to reconcile withthe debtors and creditors controlaccountsPreparation of reconciliationstatements by reconciling to bankand creditors statementsAnalysis and interpretation ofbank, debtors and creditorsreconciliations and age analysisAccountingequationAnalysis of transactions of soletradersAnalysis of transactions ofpartnerships and clubsAnalysis of transactions ofcompaniesValue-added taxConcepts of Value-added taxCalculations of Value-added taxLedger accounts of value-addedtaxSalaries andwagesExplanation, calculation andrecording of salary and wagescales, payments in the journalsand posts to the ledgerNoneNoneFixed assetsCalculation and recording ofdepreciationRecording of acquisition anddisposal of fixed assetsInterpretation and reporting onmovement, valuation and controlof fixed assetsInventoryPerpetual inventory system,concepts and entries in booksExplanation of the differencesbetween perpetual and periodicstock systems Recording of transactions usingperiodic inventory systemValidation and valuation ofinventories using perpetual andperiodic stock systems: Specific identification (of costprice per unit) First-in First-out (FIFO) Weighted averageFinal accountsand financialstatements Preparation of final accounts ofs
Section 6 Solutions to activities 111 Chapter 1: Indigenous bookkeeping and informal businesses 111 Chapter 2: Ethics 113 Chapter 3: GAAP principles 115 Chapter 4: Internal controls 115 Chapter 5: Financial accounting of a sole trader 118 Chapter 6: Bookkeeping of a sole trader – Revision of Grade 9 content 122 Chapter 7: Bookkeeping of a sole trader – Debtors 139 Chapter 8: Bookkeeping of .
