Grade 12 Accounting T1-4 (Like 2 Understand) Noted

This product contains all the work for Term 1-4 for Accounting, Grade 12. Summaries are based on the “Like 2 Understand” Textbook in English with combined & supplementary summaries & notes from “The Answer Series”,  “Ace It! ” Gr.12 Accounting Aid Book, “Mind the Gap” Gr.12 Accounting CAPS book & previous IEB & DBE exam papers. Also contains additional notes by the compiler (external party).

• Basic Accounting Concepts
• Accounting equation
• Companies:
  • Ledger accounts of companies
  • Financial Statements of Companies
    • Income statement
    • Balance sheet
    • Notes of the financial statements
  • Cash flow statement
    • Notes regarding the cash flow statement
• Analysis and interpretation of financial statements
• Auditing in a business:
  •  King Code:
• Costing / Manufacturing:
  • Illustration of ledger accounts
  • Production cost statement
    • Notes to the production cost statement
  • Cost calculations
• Budgets
• Reconciliations:
  • Bank reconciliation
  • Debtors’ reconciliation
  • Debtors age analysis
  • Creditors’ reconciliation
•  Stock systems:
  • Continuous inventory system
    • Ledger accounts
  • Periodic inventory system
    • Ledger accounts
  • Continuous VS Periodic Table
• Inventory valuations (methods):
• Internal control
• VAT (Value Added Tax):
  • VAT-concepts
  • Ledger accounts related to VAT
• Fixed assets:
  • Asset register
  • Residual value and/or so-called depreciation value of R1
  • Note to the Balance Sheet and Asset Sales