Accounting

In Accounting (Grade 10, 11 and 12) we build on the basic concepts studied in Economic Management Sciences in Grade 8 and 9. The course for Grade 10, 11 and 12 covers the following: Bank Reconciliation statements, Year-end adjustments, Income Statement and Balance Sheet, Salaries and wages journals, Partnership accounts, Sports clubs, Limited liability companies, Close Corporations, Projected income statement, Cash budgets, Cash flow statements and the analysis and interpretation of financial information. The IEB syllabus tries at all times to follow the same format and procedures that are used in business practice and always updates and renews the contents of the syllabus to keep up with the latest trends. The school's IT centre has the Pastel Schools Accounting package loaded onto all the computers. There is an opportunity for accounting pupils to complete a certified course in Pastel. This course has a dual benefit - firstly enabling the pupil to apply classroom knowledge in simulated examples and secondly equipping him/her with a marketable skill when he/she leaves school. Most Accounting firms use Pastel and having received the training at school, this skill will give them an added advantage when applying for a job after school. Upon completion of the course, pupils will receive a certificate from Pastel. Accounting is a subject of skill, which is developed from Grade 8 to Grade 12. It therefore lends itself very well to the principles of continuous assessment because consistent hard work throughout this time is required for the pupil to excel. Tests, homework assignments and projects are all needed to make up the final portfolio. Project work focuses primarily on real life scenarios and forces the pupils to engage in subject matter beyond that which is covered in class, in order to familiarise them with how the business world works. This portfolio then counts 25 % of the overall result for the year.