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AccountingGrade 10Quality review 0/4

Accounting: Grade 10

The CAPS Grade 10 Accounting year, built on the one idea everything else rests on: every transaction has two effects, and the books must show both. Work from source document to journal to General Ledger to Trial Balance, then close a sole trader's year off into a set of financial statements you can actually explain.

≈ 19 h 12 min6 sections · 32 lessonsNo ratings yet
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What you'll learn

  • Explain what a business records and why, and recognise the ethical and internal-control reasons behind each control
  • Apply the accounting equation to any transaction, and say which account is debited, which is credited, and why
  • Write up the cash and credit journals, post to the General Ledger, and balance an account
  • Prepare a Trial Balance, and diagnose why one does not balance instead of guessing
  • Calculate VAT at 15% on inclusive and exclusive amounts, process salaries and year-end adjustments
  • Draw up a sole trader's Income Statement and Balance Sheet with notes, and interpret what they say about the business

Before you start

  • Grade 9 Mathematics: percentages, ratio and basic algebra
  • No prior accounting is assumed

Course content

0/32 lessons
1. Why accounting exists5 lessons
  1. Why a business keeps records at allLesson30 min
  2. Source documents and the paper trailLesson30 min
  3. Internal control and division of dutiesLesson35 min
  4. Ethics and honest reportingLesson30 min
  5. GAAP and the role of the accountantLesson35 min
2. The accounting equation and double entry6 lessons
  1. Assets, liabilities and owner's equityLesson30 min
  2. The accounting equationLesson32 min
  3. Every transaction has two effectsLesson35 min
  4. Debit and credit as directionsLesson35 min
  5. Normal balances and the T-accountLesson38 min
  6. Source documents and what each provesLesson30 min
3. Cash journals and the General Ledger6 lessons
  1. Recording money received in the Cash Receipts JournalLesson35 min
  2. Recording money paid out in the Cash Payments JournalLesson35 min
  3. Analysis columns, totalling and cross-castingLesson35 min
  4. Small payments and the Petty Cash JournalLesson30 min
  5. Posting from the cash journals to the General LedgerLesson40 min
  6. Balancing a General Ledger accountLesson35 min
4. Credit transactions and the Trial Balance5 lessons
  1. Credit sales and the Debtors JournalLesson35 min
  2. Debtors allowances, the control account and the debtors listLesson40 min
  3. Buying on credit: the Creditors Journal and its allowancesLesson40 min
  4. The General Journal and the entries no other journal can takeLesson35 min
  5. Preparing and debugging a Trial BalanceLesson45 min
5. VAT, salaries and year-end adjustments5 lessons
  1. VAT at 15%: inclusive and exclusive amountsLesson35 min
  2. Output VAT, input VAT and what you owe SARSLesson35 min
  3. Salaries, wages and deductionsLesson40 min
  4. Year-end adjustments: accrued and prepaid amountsLesson40 min
  5. Year-end adjustments: depreciation, bad debts and stock deficitLesson42 min
6. Financial statements and manufacturing basics5 lessons
  1. Closing transfers: turning ledger balances into profitLesson35 min
  2. The Income Statement of a sole traderLesson40 min
  3. The Balance Sheet and its notesLesson40 min
  4. Reading the statements: simple analysis and interpretationLesson35 min
  5. Manufacturing cost concepts and a simple budgetLesson45 min