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Grey remains as one of the leading schools in the country, with a culture and value system that support its fine heritage.
Grey is recognised for its competitiveness and excellence in academic, sporting and cultural activities, as well as for its ability to consistently produce leaders.
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Staff
Subject Head
Hannes Roelofse: BCom Ed (UPE)
Click here to email Hannes Roelofse.
Allan Miles: BSocSci (Rhodes), PGCE (UNISA)
Click here to email Allan Miles.
Marzane McCleland: BEd (NMMU), BEd HON (NMMU)
Click here to email Marzane Meyer.
Neil Bielby: HDE (Rhodes)
Click here to email Neil Bielby.
Overview
This subject involves identifying, measuring and recording of events that will influence a businesses financial position and profit. This subject is designed to develop the logical thought process of the students. Accounting also involves the processing, communication, interpretation and the use of information in accordance to Generally Accepted Accounting Principles (GAAP).
Accounting teaches students the study of the different financial aspects of a business. In brief, it entails keeping track of money, which comes into and goes out of a business and how to make a business more effective and successful.
Accounting students, learn how to balance the books and learn the links between business and finances. Ways in which to reduce errors, ethics and fraud and the facts of how banks and other financial institutions operate are also taught.
Accounting is already introduced to the students in Grade 9, as part of the Economic and Management Sciences syllabus. This gives the students a better idea of what the subject entails before the subject choice for Grade 10 is made.
Aims
Develop the student’s knowledge, skills, values, attitudes and ability to make meaningful and informed personal and collaborative financial decisions in economic and social environments. Develop critical, logical, and analytical abilities and thought processes to enable them to apply these skills to current and new situations. Develop the necessary characteristics including ethics, sound judgment, thoroughness and orderliness.
Homework
Homework will be set as often as possible, every day if necessary. Accounting requires a lot of practice and students must be kept busy. Grade 12 Accounting students will also be expected to complete old Examination questions as part of their revision on work previously covered, while exemplars provided by the Education Department should also be worked through as part of revision. Any homework not done should be followed up and punished suitably by the teacher concerned.
Grade 10 Information
Curriculum
- Define and explain accounting concepts for sole trader up to financial statements
- Within the context of the accounting cycle. Identify and complete source documents, record the information in the subsidiary journals, post to the ledgers and draw up the trial balance of a sole trader annually and/or by using an accounting package
- Analyse and show the effects of transactions on the accounting equation of sole traders
- Prepare final accounts and financial statements of a sole trader
- Explain basic VAT concepts
- Distinguish between financial and managerial accounting
- Identify basic cost concepts
- Explain basic budget concepts
- Interview persons who are using informal or indigenous bookkeeping systems to gather all information
- Explain salary and wages scales and different contributions, and record in the subsidiary journals and ledger
- Discuss the perpetual inventory system, record transactions in the subsidiary journals and post to the ledgers
- Explain the code of ethics as it applies mutually in an accountable and transparent way to all parties in the financial environment
- Demonstrate knowledge of internal control processes
Tests and Forms of Assessment
Term 1 2 standardised class tests; 1 presentation task
Term 2 1 standardised class test; 1 June Examination; 1 project
Term 3 2 standardised class tests; 1 task
Term 4 1 November Examination
Examinations
Examinations are written in June and November (both set internally and marked internally)
Textbooks
A logical approach, Grade 10
A workbook for this textbook is available from Pickwick Books
Grade 11 Information
Curriculum
- Define and explain accounting concepts for partnerships and non-profit organizations
- Within the context of the accounting cycle, record the unique information of a partnership and a club
- Anayse and show the effects of transactions on the accounting equation o partnerships and clubs
- Prepare a bank reconciliation statement
- Prepare and interpret final accounts and financial statements of a partnership and a club
- Prepare elementary VAT calculations
- Apply costing principles and cost behaviour in a manufacturing environment
- Prepare and present, a cash budget for a sole trader
- Calculate and record depreciation, the acquisition and disposal of assets
- Record transactions in the subsidiary journals and ledgers utilizing the periodic inventory system, and compare it with the perpetual inventory system
- Identify and analyse ethical behaviour applicable to the financial environment with reference to accountability and transparency
- Demonstrate knowledge of internal audit process
Tests and Forms of Assessment
Term 1 2 standardised class tests; 1 presentation task
Term 2 1 standardised class test; 1 June Examination; 1 project
Term 3 2 standardised class tests; 1 task
Term 4 1 November Examination
Examinations
Examinations are written in June (internal) and November (set externally marked internally)
Textbooks
A Logical Approach, Grade 11
A workbook for this textbook is available from Pickwick Books
Grade 12 Information
Curriculum
- Define and explain accounting concepts for manufacturing enterprises, close corporations and companies
- Within the context of the accounting cycle, record the unique information for a company and close corporation
- Analyse and interpret the influence of transactions on the accounting equation of close corporations and companies
- Analyse and interpret bank, debtors and creditors reconciliations
- Prepare final accounts and financial statements, analyse and interpret the financial statements of a close corporation and a company
- Analyse published financial statements and audit reports of companies
- Apply the principles of VAT in different situations
- Prepare, present, analyse and report on cost information for a manufacturing enterprise by compiling a production cost statement
- Analyse and interpret projected income statements and a cash budget for sole traders
- Interpret and report on asset disposal
- Validate and calculate inventories with specific references to the different inventory valuation methods
- Discuss disciplinary and punitive measures to be applied for non-compliance to the code of ethics and the role of professional bodies
- Apply internal control and internal audit process in a business environment
Tests and Forms of Assessment
Term 1 2 Standardised class tests; 1 presentation task
Term 2 1 Standardised class test; 1 June Examination; 1 project
Term 3 2 Standardised class tests; 1 task
Term 4 1 November Examination
Examinations
Examinations are written in June (internal), September (set externally but marked internally) and November (set and marked externally)
Textbooks
New Era, Grade 12
Workbooks for each of these textbooks are available from Pickwick Books